At the end of the day, it is KYY golden rule : buy something which next year earning is expected to be higher than this year earning

Don’t buy something based on vague concept of moat and FUTURE earning potential

Always guided by NEXT year earning

If you can’t see next year earning growth, don’t buy

If you can see, you buy

So watch out for industry data

Then you act

My style is : do not look for price bottom, look for earning bottom

If you can’t see earning bottom don’t buy

Only buy something when you understand it

How much do we know about petrochemical industry prospect ?

You can start buying when one day you see some useful info guiding towards recovery

If not, just wait

howard Marks say don’t swing at every pitch

Charlie munger says only to buy when the odds are overwhelmingly in your favour

Before you press the buy button ask yourself is the odds overwhelmingly in your favour ?

Follow your feeling

Otherwise don’t even buy

There are so many other stocks

Titan one thing I learn in 2018 is that your decision to buy downtreding stock should be based on prospective PE

Not how much it has come down

Otherwise you will catch falling knife

So when the north warms up it will be easier to control and ultimately stop it

I never say the virus will die because of hot weather

The virus survive several days in cold weather

But only several hours in Singapore

That is the science

Ooi so many faked icon8888 here

TA Trader very green

Basic concept also need us explain again and again

I feel like a baby sitter

Even without growth it was trading at RM4 most of the time mah

Meaning the current RM2.3 is not steady state and will one day back to RM4 mah

Buy buy buy

Next year lost money come see me I reimburse you young man

ya loh choivo why you make fun Philip like that ? He very geng very bah bai one

The best and smartest in Bursa

Show some respect lah aiyoyo

Where did I get it from ? I also forgot

016 26xxxx2

I actually have your phone number you know ?

Hi choivo Long time no talk to you

How are you lately ?

@@

This year I very inactive

Bought banks and semiconductor

Missed out on palm oil, steel, etc when they run few weeks ago

I remember your words “money is always lost buying into lousy companies during good time”

So I quietly sit there don’t jump in jump out

3iii, your friend Philips bought into pchem

A business he doesn’t understand

And he is now paying for the mistake

Big time

Sometime I do think your advice are sound

Not touching it with a ten feet pole

I scare this company

Boss always suck money out

Raider and I never quarrel

Because both of us nice guys

We not lansi

You calls not bad

But you too lansi

That is why you got so many enemies

Sochai lost money until so angry

RM1.50 price justifiable

Not bad

Meaning RM3 mil core profit

RM2.3 mil reversal of bad debts

Half is exceptional item

On hind sight, petrochemical is a difficult industry

It is actually quite cyclical and volatile

Many things need to be right for it to make money

You don’t need to agree with me

Just hold on to your pchem

Your money your risk your reward

LC Titan was a bad call

It was a black box I didn’t understand and I jumped into it

Of course you won’t believe, but my position was indeed tiny and I sold when I realised it was a black box I didn’t understand

Going for breakfast

No time to waste on newbies

Net asset per share is not relevant for many other companies

Digi and nestle do not need high net asset to make money, for example

But net asset per share is a big deal for banks

Because banks make money by using its balance sheets

The higher the net asset per share the more loans it can give out the more money it can make

So when a bank is trading at deep discount to net asset per share, it is undervalued

(Need me to explain basic concept like this is really wasting my time)

10 years ago I was on a business trip in Sarawak

I checked my handphone for ABMB share price

It was RM2.80

I remember I told myself “damn, it is cheap”

Fast forward to 2020, AMBM was trading at RM2.60

This 10 years, it’s NA per share has grown from 1.90 to 3.82

And I am now buying it lower than 10 years ago

I think you guys do not understand how big a bargain is, because you have not seen enough of things

Not your fault, You just don’t have the feel

A newbie that just join the market

No wonder so ignorant ask basic questions PER PBR DY also cannot understand

Wasting my time

TA trader 279 posts

No wonder so green

I don’t actually need to justify to you all

I just dumb dumb hold my alliance

You guys can laugh and scold

I have my own peace of mind

I have gone through 1997 and 1998

I have witnessed how Banks were whacked by the crisis, how their bad debts ballon， how they cleaned up, and most importantly， how during the worst of time， bank run is not a major issue

I also witnessed how the kerajaan brought in foreign Consultants to clean up and consolidate the sector

I also witnessed how kerajaan woke up to the important role banks played and hence their decision to groom and protect banks, to feed banks with fat margin through Low deposit rate and relatively high lending rate (Low deposit done through forex surplus)

Banking sector is something I have a good feel

Not all my stocks are Long term hold buffett style

Only those that have Long term sustainability I dumb dumb dumb dumb dumb hold 20 years (banks)

Cyclicals like steel, petrochemical, semicon, palm oil etc got to ride the cycles

My portfolio comprise both

I can do that for alliance but not pchem

Pchem is very cyclical

If I chuck it aside and come back in 10 years, it might have gone down to RM2 or go up to RM10

Nobody can tell

Buy for alliance, the visilibility is better

I am likely to win the race

That is all I know

freddie OPR cut is a non issue

It’s effect is few percent

And it will be addressed when deposit is repriced

I take a long term view

I buy and hold, chuck it aside

Every year it makes decent profit

By the time to my grandson it’s Net asset per share is RM15 ?

I don’t need to do anything just let it grow

This is buffett style mah

I lived in the era of Kwong Yik Bank, Mui Bank, Philip Allied, MPlant, MBF, Bumiputra Bank, Hock Hua Bank, etc

I saw how banks operated before 1998, I saw how banks transformed after 1998

I saw danaharta, Danamodal, I saw how many banks were consolidated into Anchor Banks

I have seen enough of banks

Your scaremongering above can fool newbies like TA trader but not me

I am somebody who has seen a lot about banks

I know what I am talking

You are really one of the dumbest here

We like people like you who cannot think

Because your stupidity feeds my wallet with cash

And also you can look at its historical price

Most of the time market gave it RM4 valuation

Only these few months came down mah

So this stock has potential to be up there

Why can’t you understand ?

Scratching my head

I really don’t understand why you can’t understand

If every forum member stupid like you, I huat loh

As for PBR, it is 0.6 times

Not cheap meh ?

We are talking about sustainable profit mah

Look at ABMB past ten years profit, is it far fetched for me to claim that EPS of 35 Sen per annum is the norm ?

shocked again

16 dividend / 231 = 6.9% DY

Why so difficult to understand ?

Shocked again

8.7 Sen x 4 = 35

2.3 / .35 = 6.6

I don’t understand why so difficult to understand it is undervalued

（shocked)

Stop posting on this forum until your standard improves

Somebody faces liquidity problem and is willing to sell his house in pj at RM20k and another house in Penang at 15k

Penang Undervalued or not undervalued ?

PJ undervalued or not undervalued ?

Of course undervalued lah

I don’t understand why it is so difficult for you to grasp Basic concepts like that