The point I'm trying to make here is not so much about the word "small", it is generally the tonality of your comments that gives a vibe of arrogance and pride. I can understand that coming from your perspective and with the financial success that you have achieved, I would probably feel the same sense of pride as well.

But I think at the end of the day, it is still very important for us all to stay grounded and be humble and be appreciative that we are all very blessed to be able to have extra money to invest.

I apologize if my comments sounded too crude. Something I need work on to communicate my message better.

As for studying methods from others, I actually do quite like 1 of your writings which is "How to Spot Value Traps, or WHY I WASTED 3 YEARS HOLDING THE VALUE INVESTING STOCK" @ https://klse.i3investor.com/blogs/philip6/2020-05-29-story-h1507892411-How_to_Spot_Value_Traps_or_WHY_I_WASTED_3_YEARS_HOLDING_THE_VALUE_INVES.jsp

I find that the article speaks a lot about balancing the importance between Quantitative calculations (ROE, DCF, PE, etc) vs Qualitative assessments (Managerial integrity, Industry prospects, Technological advancement, etc).

The article to a certain extents help shaped my investment thesis to not put too high emphasis on Quantitative side but also to take seriously on the Qualitative side.

P/S: I think the best way to know whether our comments sounded arrogant or not, best is to read back our comments using the voice of Warren Buffet.

Cheers.


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Posted by Philip ( buy what you understand) > Oct 5, 2021 11:41 AM | Report Abuse

It is funny how some people would rather concentrate on the leaves instead of the forest. How does it benefit you by concentrating on details which are unimportant versus the important facts.

You could have started by asking why I bought awc, or you can look to share why you think AWC is a bad trade, which is more information worth learning from. You can look at my long term results to say that my investment methods are lousy and not with listening to and rationalizing which is the better method of investment.

More importantly, you can look at the 3 year history of every single transaction I have made and study what I did wrong and point out your own trading/investment methods which you think works better.

Instead you seem to emphasize on the word "small" and show off wealth.

Very sad mental view. But what can we expect of those who are not interested to look at the purpose of the page ( a full trackable portfolio of performance from 2019-21) and instead engage in petty things like showing off wealth? What wealth? Digital numbers on a toxic forum?

In relation to his Bursa portfolio of RM 57 mil, of course RM 100k worth of AWC is small.

In relation to ordinary Malaysians, RM 100k is several times their median net worth.

I still think that mentioning RM 100k as small seems to hint more towards social signaling to i3 readers on his wealth.


Posted by stockraider > Oct 5, 2021 11:06 AM | Report Abuse

Actually 200k units of Awc is quite small for Philip mah!

He is not showing off lah!

I agree on the part that Philip seems to likes to show off his wealth.

You can see it from his choice of words like "Started a small trading position on AWC, around 200k shares". Considering the median net worth of a typical Malaysian is around USD8900, I don't see the necessity mention the word "small" though.

We should all be humble and share our stories/success with the intention to inspire and educate rather than for self-centered purposes.

They are suppose to release their Q4 results before September right?

MBMR 0176
Plus point:
- Reducing debt level since FY17.
- Low P/B in FY20 of 0.56. However, average P/B since FY15 is 0.57.
- DCF (discounted at 15%, growth rate of 8%) based on past 3 years average is RM 3.24.
- Positive liquidation price of RM 0.51.

Negative point:
- Slim net profit margin. 5 years median of around 5%
- Low 5 years average core ROE of 4.55%
- Annualised P/E in FY20 is 22.1. Average P/E since FY15 is 8.4. Despite the current price has drop significantly in FY20, it is still relatively higher than the price pre-FY19 even though its FY20 annualised net profit is much lower than pre-FY19 net profit.
- Negative expected return: Downside RM 0.51, upside RM 3.24. Current price RM 2.86. (-2.35 x 50% = -1.175) + (+0.38 x 50% = +0.19) = -0.985
- Expected return vs current price: -34%

Conclusion:
- Unattractive from long-term valuation perspective.
- Require sentiment and catalyst i.e. very strong boost in QR earnings to invigorate market interest.

Everyone is measuring sausage length on the internet nowadays. So much insecurity. Just invest according to what you understand and share information without ill intent for the other person.

If what they shared is untruthful according to yourself, then you can refute based on your own evidence and point of view. If don't feel like sharing, then just ignore.

Hi Calvin,

Just a few questions to improve my understanding further:

1. Why must companies like Top Glove buy automation from MMSV? What about automation equipment from other competitors?

2. MMSV's revenue has been on the decline from: RM 75.6M (FY17), RM 47.8M (FY18), RM 43.0M (FY19), and recent Q1 FY20 shows a much lower revenue vs Q1 FY19. How would you assess their competitiveness judging by them losing market share even before COVID-19?

3. How do you assess the current price of RM 0.67 is considered cheap? And how do you derive the target price of RM 1.20 within 1 year from now?

Many thanks for your sharing.