I dont borrow. Im always solvent :)

I don't get trapped. I know what i bought and why. If i don't like it anymore, i sell. If the price drop, and i still like it. Ill buy more.

======================================================================
Posted by 3iii > Jun 2, 2018 01:59 PM | Report Abuse

Your posts on Insas and Plenitude illustrate companies that are undervalued.

In the absence of catalysts for their full value to be realised, these are value traps.

I will avoid them.

The market can remain irrational for longer than you can remain solvent. :-)

This looks interesting, but god, its not cheap at all.

Plenitude and insas is like 5% total.

NTA picks consist of about 30% of my portfolio, because truth be told, I'd rather buy wonderful business.

What is your ROI? Well you don't lose money, which is number 1.

Look at myeg and karex etc. It's so easy to lose money when paying for earnings. Now, you don't even really know what's its really worth.

If I owned say Plenitude at 1.9, and it dropped to Rm1.3, I don't really mind, I can just buy more. Because I know what it's worth.

While it's very hard for me to say the same for liihen and latitude, despite them being relatively value based.

And value picks tend to lag behind the market, until they suddenly bear fruit. See HUAAN or Hengyuan, back in the day from the drop from RM4 to RM2.

Now, you may say why not make money else where? And try to time market.

I don't know how to time market. If you'd, you do that.

Latest price. never counted based on cost really. Maybe should try.

===================================================================================
Fabien Extraordinaire Jon, your weightage of 10% of portfolio is coming from latest market price or at cost? since the MV has been dropping much, original weightage should be higher right
02/06/2018 09:13

This is very true. About 60% of my portfolio is great companies. 24% is good companies at fair price, about 28% is great company at cheap price.


====================================================================================
4. Yet rather surprisingly, Benjamin Graham made a lot of money not from this strategy which he preached and held widely. His gains from one stock (GEICO) overshadowed and exceeded all the gains from all his other above transactions by a wide margin. For GEICO, he bought a company with great business and potential at a fair or undervalued price and he held this for a long term, enjoying the gains derived from its growing earning power. Warren Buffett was using Graham strategy in the first 20 years of his investing and changed to the Philip Fisher / Charlie Munger / Graham's GEICO strategy subsequently. For those with the right temperament, philosophy and strategy, the latter in my opinion is a better strategy to grow long term wealth ... steadily, confidently and with a high degree of probability of a good outcome.

I like this stock.

My position is still very small, but can slowly buy.

I dont want coverage on this stock.

hlafdz,

You habis d. People like you should just put money in ASB.

Rm1.23

Nice!

The moment you used normal range P/E to do valuations, it became kind of hard to take you seriously.

Fairly decent set of results.

Quite happy.

Cheap you head.

YTL is still damn overvalued.

Finished checking, Mr Market says im down 18.79% since 3 January 2018


======================================================================
Posted by CharlesT > May 30, 2018 09:32 PM | Report Abuse

Lol..no bad

What are your biggest holding?


Posted by Fabien Extraordinaire > May 30, 2018 09:36 PM | Report Abuse

My portfolio is down 14%. Sad.

Fairly decent set of report. Quite ok.

Im thinking of buying more lol. But really no money.

Just 2-3 months ago, i called OTB a speculator, and i stand by it, Back then people ask me why can i say that when my track record not even near his.

You can recommend stock for people to buy. Just make sure you disclose properly your holdings. If im not mistaken, he does that. I don't know for sure as im not his subscriber.



======================================================================
Posted by Stockmoneyklse > May 30, 2018 09:30 PM | Report Abuse

If you are good don't need recommend stock,when you tell people to buy,you already bought before others,after that you sell and make profit then you ask people sell.let S.C determine if it's called manipulation or because fatty conman track record is smart

Actually i think might be more than 20% d.

From early march, drop about 7.3%.

======================================================================

Posted by CharlesT > May 30, 2018 09:21 PM | Report Abuse

Jon hows yr return so far? Minus 50% to 60%?

Every single KYY pick that worked in from 2013 to 2017, all come from KCCHONGNZ and OTB.

Otb is honorable, you know exactly what you're getting.

Its just that too many people think he is god, never use their own brain properly.

He is only answerable to his subscribers. Not to i3.



========================================================================
Posted by Stockmoneyklse > May 30, 2018 09:24 PM | Report Abuse

Otb is only a fat conman.uncle kyy at least have good track record can't deny it.but otb is worst then a snake,karma made him a fatty headed conman

Haha you think i so cha meh.

Im down about 19% from january peak. My main holding is TIMECOM and RCECAP, which barely dropped really.

Still beat the Small Cap and Ace Index lol!

======================================================================

Posted by CharlesT > May 30, 2018 09:21 PM | Report Abuse

Jon hows yr return so far? Minus 50% to 60%?

Let me be real.

If you are stupid enough to listen to TA and what the chart tell you, you deserve to lose money.

TA only works in bull market, and fails in bear markets. And very very badly.

And in bull market, you are better served just buying and holding anyway.

We see who is swimming with no pants on when tide goes out.

My portfolio also go down, but unlike most people, i dont need market to tell me how rich i am, and what my shares are worth.

I always make money in stock market. Because i make money the moment i buy the stock!

Lol, i topped up at 1.37, paid 5-7 sen extra per share. Oh well, better to have bought than not at all.

Halite, i hope you are right.

For me, really hard to value if construction div die. And i am not a fan of SOP valuation, unless its prop dev with alot of fantastic lands recorded at decades ago book value.

The money earned from tolls cant cover their interest cost for their borrowings. Im assuming all their borrowings is for the toll. Which would not be that in accurate.

=======================================================================
Posted by pangolin > May 30, 2018 10:50 AM | Report Abuse

As a cash cow toll operator ,, y ekovest keep lower and lower ,,, i dun understand

Thanks Calvin.

I think you're mistaken. You know my perspective on the 17,000 govt employees and the quantified impact.

You know, PH has been in charge of Penang and Selangor for so long, but the government servants there is still so many.

Govt will not reduce salary or cut (beyond political appointees). Instead what they will do is create more work for them!

No government in the world have survived the next election after cutting the civil service.

i think PH would rather let tolls continue or remove subsidy than cut civil service.

Extremely happy day, only up 4 sen. Just increased my position by 20%.It is now 27.8% of the fund.

Khatu,

I hope you find peace.

you sound like an older gentleman, probably retired.

I hope you got enough left to live a simple but happy life.

Haha, unless you rich and want to buy more than a million dollar position, its plenty liquid.



======================================================================
Posted by Outliar > May 29, 2018 12:41 PM | Report Abuse

Solid counter, only problem I hate about it is its extremely illiquid

1.5% to 2%. Sold it pretty much the next day for transaction loss.

Figured i was probably greedy for technical bounce, as the valuation was just too hard to ensure margin of safety, since most earnings were from construction, and the highway earning not even enough to cover interest expense, which were mostly due to the highway.

======================================================================
Posted by Outliar > May 29, 2018 10:17 PM | Report Abuse

@Jon Choivo

Didnt you open a position in Ekovest a few weeks ago?

khatu,

I dont hold any shares in iwcity and eko, i never touched iwcity, and i sold eko long long before the run up to 1.5 and the downturn.

You guys dont seem to realize that most of ekovest earnings come from construction.

If they dont get gov contract, how much will they be worth. Hard question to answer.

Really is die until no eye see.

I honestly almost tempted to buy eko and iwcity now.

Calvin, cost is say 60 billion. 3% interest.

That is 1.8 bil per year, just to pay interest. The gov basically need to subsidise. The question now is, is it worth it as a public infra?

My FV dropped, due to the lower leverage, and margin compression, but pretty ok with the result.

Government civil service getting cut, mfrs9 6.2mil impairment next quarter. :)

Probability,

Like i told you. IYI

Waiting for you to say give up hope, look for stock with better short term prospect.
======================================================================

Posted by probability > May 22, 2018 11:35 PM | Report Abuse

if upstream margins are to expand due to cheaper raw mat...what could possibly squeeze downstream margin?

at current margin and management optimism......

ORNA could be the safest bet.

Operating profit, Last yr 294.6m, this year 254.7m.

Drop. And last q got super impairment of 598.6m, i cant see it the A20 note, so i'm guessing some throw to operating or somewhere.

Which means this is actually not a good q at all.

One off impairment writeback gain.

Operating is actually about the same

Mr Ooi is one of the good people of I3.

But please do not forget, he is 70% trader and 30% investor. When one is trading, one is essentially speculating and gambling.

Nothing wrong with it, as long as you are doing it intelligently and you are aware of the pro's and con's.

And Mr Ooi is one of the best traders in Malaysia.

Size your bets accordingly.

Do not sailang on his picks, maximum, put 50% of your networth in Bursa, and put maximum 15-20% on each picks (5-6 stocks).

And remember, traders do best in bull but die in bear, especially when you cannot short over longer periods.


======================================================================
Posted by Ooi Teik Bee > May 25, 2018 10:15 AM | Report Abuse

Daily Crack Margin report

Formula
MOPS Mogas 95 - $81.284 - Singapore Mogas 95 (cmegroup) - 2 parts
MOPS Gasoil - $83.933 - Singapore Gasoil (cmegroup) - 1 part
Brent Crude - $74.06 - oilprice.com/oil-price-charts - 3 parts

3:2:1 crack spread = ($162.57 + $83.93 - $222.18) / 3 = $8.11

Date Mogas 95 Gasoil Brent Margin
18/5/2018 87.88 91.05 78.67 10.27
21/5/2018 87.88 91.05 78.98 9.96
22/5/2018 88.25 90.89 79.36 9.77
23/5/2018 88.43 91.26 79.24 10.13
24/5/2018 88.32 90.97 79.84 9.37
25/5/2018 88.09 91.00 78.89 10.17

Do I need bluebiznet to teach me to calculate crack margin ?

Thank you.
Ooi

Well, kena whack. Its 6% of portfolio. I think ill probably just keep.

Basically, no operating profit, probably loss lol. After takeout all one off items.

Dear Sslee,

i think the board knows the sheer undervalueness of the shares.

I would suggest your next course of action, being a very proactive investor (very commendable by the way), is to push for a "waiver of such MGO is granted by the Securities Commission and the shareholders of Insas under the Malaysian Code on Take-overs and Mergers. "

This would be the easiest one as well.

Haha i dont.
In any event, insas is too tightly held for any outsider to take control.

This one, you're going to need to show your perspective to the director/owners and see if they follow your view.

My position % wise, no way near as big as yours, so for me, there isnt
that much pressure. I can keep buying very slowly if the price does not move.

=======================================================================
Posted by Sslee > May 24, 2018 06:36 AM | Report Abuse

Dear Jon Choivo
Since you are working in financial sectors, will you ask around any investment banker ready to lend me RM210 million so that I can buy up to 32% (224 million of Insas Share) and then during Next AGM proposed resolution: Share distribution on the basic of 1 Inari share for every 2 existing ordinary share of RM 1.00 each held in the Company.
After distribution: Insas still hold about 300 million of Inari share and I will hold about 32% Insas share and about 112 million Inari shares which I can sell to market and repay the loan.

Thank you

To be able to defend you position as hard as a zealot, and yet change your mind the instant new information come to light.

Being simultaneously confident enough to buy when everyone is selling, and yet humble enough to constantly check and recheck, and ask for contrary opinions.

Kcc, if you don't mind. What criticism would you have of my current top holding RCECAP. Not sure if you studied it before.

My cost is 405 haha, will be an interesting week.

I do respect SSLEE pro-activeness.

But its funny how people are very proactive when prices is down, compared to when market is up.

I'm personally ok with the management and how they handle the share price. I think buybacks should be increased, but if they dont, i can keep buying, no worry.

That is nice.

I dont need Mr Market to tell me how much i'm worth.

You think the boss care if his shares undervalued? So what, he knows what he's really worth.

======================================================================
Posted by KLCI King > May 23, 2018 12:47 AM | Report Abuse

Forever undervalued, it reminds me Plenitude, all the time undervalued too.

This has always been an NTA play. Dont expect much drop.