CIMB target price is 3.40

More runway to go.

Main/key takeaway from Seth Klarman's annual letter to the investors of his hedge fund, Baupost: to minimize the duration of portfolio holdings.

Klarman believes it is vital to invest in short-duration equity opportunities, where there is a catalyst on the horizon to unlock value.

“We believe another key element in portfolio management is curtailing the duration (the weighted average life) of one’s portfolio through exposure to investments with catalysts for the realization of underlying value. Catalytic events shift the outcome of investments from a reliance on future market multiples and macroeconomic developments (which are not at all under your control) to a dependence on your assessment of the outcomes, probabilities, and implications of announced or anticipated corporate events, including mergers and acquisitions, bond maturities, debt restructurings, bankruptcies, major corporate asset sales, spinoffs, and tender offers. No strategy can avoid all risk of loss. But we believe our approach should increase the likelihood of achieving sustainable gains with limited downside risk over the long- run. To put it differently, a portfolio of near infinite duration (such as an all equity portfolio without catalysts) can trade just about anywhere. With such exposures, if stock prices plummet, the odds go up that an investor will feel pressure to do the wrong thing and sell into market weakness. A limited duration portfolio, both because of the hopefully truncated downside in a bad market as well as the beneficial cash inflows (buying power) that catalysts usually generate, is hugely advantageous in navigating through turmoil.”

i prefer this way, slowly but surely. will entitled for 8.5sen end of this month.

Using Ben Graham PE method. conservatively, assuming HLIND earnings to grow in line with the economy, sustainable rate of 3-4% annually, implied PER should be at least 15x. with EPS at least RM1, do the math...

Vietnam's economy is growing at a fast pace, 6-7% annual growth..very soon its economy will overtake Singapore.

Even maintaining current market share, HLIND will still able to grow its sales (in absolute terms) in line with the growing economy.

their dividend payout has been increasing anyway. ROE is very high so management is doing the right thing well.

RainT if HLIND can pay dividend as generous as AIRASIA , how good

HLIND have huge cash pile
06/06/2019 12:54 PM

inching towards new high

tong herr has been through even worse phase before, back in 2015. they have turnaround subsequently. but recent quarters have been impacted badly by the slowing economy. doubt they will reach 5 figure quarterly profit anytime soon.

maybe 3iii has some perspective to share?

well, market pyschology swings all the time. will see...

for PE 20x, i won't touch for now. at that valuation, positive growth already priced in. if earnings disappoint again, market will bring down its valuation.

valuation still at 20x PE. it is justified given its not so promising outlook?

it's a good company. though i prefer to have a wider margin of safety before having some positions.

its pointless to position in this stock based on expectations of future petrochemical prices

looking at the volume, there aren't much. datuk is nimbling as much shares as he could.

well, at current price, it is dirt cheap relative to its fundamentals. i see no reason why it drops. remaining shareholders are of "strong hands", they are in for the VALUE.

this company generates healthy ROE (>20%) and ROIC (>60%), creating value for the shareholders. i will hold tightly to my shares.

5 consecutive quarters drop. no light at the end of tunnel yet.

TheContrarian Because MGO failed, the share price can't go above 66 sen until the one year expire.
26/04/2019 11:06 PM


Contrarian, when will the one year period expires? It's quietly inch up to 68sen now.

Don't mislead people. Maybank has always been declaring dividends in Q2 and Q4.

a little more than 2 weeks time we will entitled for 35sen dividend

probably it will be good with some publicity. if any gentleman analyst care to initiate coverage, this company will explode... HLIND deserves a better valuation multiple

getting ready to employ capital if it drops to 8

net cash is 30% of market cap

RainT the cash balance since from 1 year ago have been growing 50% to RM1 billion now

this is impressive
29/05/2019 8:26 AM

decent yield of 3.7%

ok la, not bad. dividend grew by 6% more than previous year growth (4%).

slowly but surely. just look at its cash flows...

one weak quarter results and you guys panic? first time investing ar..

don't worry about the share price. have some patience.

you get decent yield anyway.

Own both la, save the headache. Which i am, skin in the game....

Once i see PE 10 times, i stop reading.

From his perspective/intention, his analysis is not wrong.

HLG target price 4.22, not far from mine.

Management guided a lower revenue for the semiconductor segment. Coupled with the headline news "trade war'. Selling most likely due to heightened risk aversion.

USDMYR above 4.19

Should bode well for coming quarters.

Profit up >100%

Well done!

Bought some at RM1. 3% portfolio weight.

slow and steady

Quote from Warren Buffett himself

"The decision to buy Amazon’s stock was just as much based on value investing principles as a decision to buy a statistically cheap stock. Value investing is about estimating and valuing future cash flows, not about how low a Price to Book or a Price to Earnings ratio is for a stock.

You can pay too much for a wonderful business. There is a price where we could have paid too much for See’s Candies and it wouldn’t have worked out well as an investment. You can turn any investment into a bad deal by paying too much. What you can’t do is turn any investment into a good deal by paying a cheap price."

Posted by Heavenly PUNTER Research IB > May 7, 2019 4:13 PM | Report Abuse

Underperformed KLCI yesterday, outperformed KLCI by huge margin today.


Heavenly PUNTER Research IB
2317 posts
Posted by Heavenly PUNTER Research IB > May 13, 2019 2:43 PM | Report Abuse

Big hit to the Heaven Portfolio today...


Heavenly PUNTER Research IB
2317 posts
Posted by Heavenly PUNTER Research IB > May 14, 2019 9:41 AM | Report Abuse

Looks like another day of big hit to my heavenly picks


Heavenly PUNTER Research IB
2317 posts
Posted by Heavenly PUNTER Research IB > May 14, 2019 8:47 PM | Report Abuse

No big hit



I hope you practice what you preached.

time to go for the defensive and cash rich companies. inject some robustness into your portfolio to weather the current volatility.

times like this, look for defensive & resilient business. and YSP fits the bill.

bought a bit today

on a selfish point of view, i am ready (have prepared) for a black swan event.

haven;t look at this counter for a while. what's with the sharp drop?

its nothing new. everyone knows that. the investing community knows that.

the question is...does the management care? are their view align with yours? would they act according to your best interest?

first order effect global manufacturing get hit by tariffs. follows by second order effect, global services and financial activities contracts...economy slumps...stagnation

is this a recycled article? or the writer living in his own illusion?

To me, portfolio rebalancing involves reviewing and recalibrates your investments and weigh against better alternatives/opportunities to maximise portfolio return.

I have sold at 3.99 realising >100% gain. It's a tough decision but i made it as part of my strategy to raise cash holdings. And i decided to sell MFCB along a few stocks.

Phillip practices dollar cost averaging. Portfolio rebalancing is an alien concept to him, i assumed.

lol why would i blame you. you don't manage my portfolio.