I don't see any cogent reasons for buying Public Bank shares at current lofty prices and holding for 17 years. The days of 18% compound growth in its share price are over. The domestic banking market is competitive to the point of saturation. Overseas markets are dangerous waters. Growing competition and changing times mean geriatric managed Public Bank cannot expand at the past historical rate clinging on to risk aversion and conservatism as its twin pillars. Innovation and calculated risk taking are not its strong suits. Public Bank is a low risk investment but returns may disappoint going forward. Not to mention the question of succession to the two TS Tehs.

Calling a spade 'a spade' is not anti-anything other than voicing your opinion. Spades come in all shapes and sizes; some devious ones wear disguises, others wear blinkers. By itself, dissent is not necessarily good or bad. However, it is through intelligent dialogue that we can learn from each other and appreciate others' viewpoints.

I am looking forward to Mr Koon's article on Public Bank which I used to have in my portfolio. I sold it because banking stocks, out of favor after the Asian Financial crisis of 1997/8, hardly moved for years subsequently and Public Bank was around RM2 in early 2000 when I disposed of it. One of my costly not so good moves.

In equities investing, past performance is no guarantee of future performance. Granted, Batu Kawan and KLK gave excellent returns over the long term if you bought in early 2000's and held them over a decade. I can say the same thing for Public Bank and many other blue chips. Will they give similar returns if you buy them now in 2014? I sincerely doubt it. They are now fully valued, more or less. Instead, I will be out looking for other undervalued and unappreciated stocks to give me double digit returns annually.

CIMB and AMMB on 22/5/14 released two diametrically opposing views on JTiasa. At RM2.68, CIMB calls it overvalued and a sell, however AMMB sees great potential in its palm oil acreage and calls a buy. Since they can't both be right, something has to give. Closing at RM2.61 on 23/5/14, there has been more selling pressure so far. My take? Short term weakness but long term strength; I hold. As a value investor, I will add more on price weakness below RM2.50.

A S B = The company's chairman & single largest shareholder Ahmad Sebi Bakar. He seems to be 'Rip Van Winkle' ; asleep on the job the last 10 years. The company's disparate assets may be significantly undervalued but that is justifiably so when performance is so mediocre. How to unlock value without drastic corporate surgery?

The 4Qs jive with what a wealthy business friend disclosed. With no tertiary education or inheritance, but possessed of tremendous drive, energy and street smarts, he built an enormous business fortune from scratch. I must add that his MQ is somewhat variable; he is not above stacking the cards in his favor in business deals to get the upper hand. The ends justify the means, he says, and it is the ending that people remember, not the journey you take. It is most important to end well.

The political dichotomy between the Chinese 'have' and 'have-not' has always been there but never more clearly evident than in recent years when even the 'have-some' middle class revolted against MCA/Gerakan. These two Chinese based political parties are blamed for not standing up against Umno tyranny and chicanery; their leaders are seen as weak and self serving. As for the Chinese poor and disadvantaged, their voices are not heard and their pleas for fair play not heeded. What else can they do but vent their frustration in the ballot box?

jennylim, Upon relisting on 27/3, Symphony shot up from 13.5 sen to close at 21.5 sen. Since that date, the lowest closing price has been 19 sen. The gap refers to the transaction void between 19 sen to 13.5 sen, where no trades were transacted. Closing the gap means trades will be done down to 13.5 sen. The other gap could be your remisier's open mouth, for there is no way Symphony will be sold down to this level unless the proposed RTO is aborted. There is too much at stake for this to happen.

Whether MPCorp is eagle, lame duck or dodo, events within a year or so will let us know its ultimate fate. I tend to 'call win' on the counter. If you are prepared to wait for positive events to unfold, the rewards can be great. I put some small risk money on it this morning.

jcash; Tks for putting up the interesting report ; it has valid points. Can you provide the source? Few research houses cover JCY. Its financial performance is too volatile and unpredictable, ditto for its share price. Most analysts can't get it right, they are well behind the curve. I believe it 's currently a good trading buy with recovering profitability FY2014.

'Luck' comes when an otherwise independent set of fortuitous circumstances happen to cross paths at one random point in time. You did'nt plan or put it into motion, it just happened. Yes, there is such a thing as luck in business or investment. However, you have to be present at that random point and be able to seize the opportunity when the perfect storm arrives. I have seen it happen to an old friend after 10 years with a struggling business he took over.

I don't think that readers who often doubt are necessarily less intelligent. They could be much less experienced in evaluating people and therefore arrive at hasty conclusions. When they find their conclusions to be incorrect, and that you are the real deal, they may turn out to be your staunchest supporters.

If only the dilemma between ethnic groups can be resolved as simply as that between old friends. Just don't discuss politics. Enjoy a holiday together. Give and take, a little.

FGV is one enormous cash cow, with EPF the mother of them all. Leak a few hundred RM million here and there every year, no one really feels the pinch. But therein lies the moral hazard. If the leak is right at the top and is not immediately stopped, over time a hundred tiny leaks may spring up everywhere. Just look what happened to Sime Darby, a venerable conglomerate, besmirched by previous top management's questionable ethics and still recovering from reputation damage. I don't like FGV's expensive diversification. For their top guy, an ex-politico with a questionable past, it's just too tempting to lay hands on some of the cash pile. And just too easy with all the hasty deal making.

I don't like FGV because of its so called diversification out of plantation. It is paying over the top for the new assets acquired which raises a lot of questions. Having an Umno ex-politician heading it and with access to FGV's cash pile raises my hackles.

Investors must appreciate margin financing is a double edged sword which cuts both ways. It can magnify the profits, or the losses, of your stock investments. Use it judiciously as you would any powerful weapon. The greatest line of defence against losses is still a good stock pick; and one that promises ever growing profits in coming years can hardly go wrong.

I cringe every time high ranking Malaysian officials stand exposed to the aggressive questioning of the world's media. Being used to often bullied local reporters, they are totally unprepared to answer searching questions from correspondents who show absolutely no respect for their many (mostly unearned) honorifics and titles. I will always remember Al-Jazeera's interview of an almost incoherent Information Minister Zainudin Maidin in Nov 2007 on the Bersih rally. Was he made to sound like some top idiot!

Quote: 'I am not asking you to buy Jaya Tiasa or any other share. But if you decide to buy, you are doing it at your own risk.' Unquote.

Today's run up is not limited to JTiasa but is on all palm oil stocks. Present hot weather may adversely affect FFB production in Malaysia and Indonesia, putting upward pressure on prices.

I'm glad certain critics have opened their eyes and can see Mr Koon clearly for the person that he is. I have wealthy businessmen friends and only one other is somewhat like him, wanting to help others less fortunate to do better in life. Most are consumed by money, success and positions; impermanent things that you cannot take with you to the hereafter. I foresee we shall have a very fruitful and productive forum here.

Yes. Too much of Malaysian current affairs makes Jack an angry boy and Jill an angry girl. Especially since no solution is in sight. Let's take a breather and look at the stock market, which is neutral ground.

Is there hope for education, for the judiciary, for... in fact, for almost every branch of the civil service insidiously corrupted by the rotten BN government since the Mahathir days. I think not, I think under the BN government, Malaysia must inevitably first fail as a nation and be bankrupted before it can hopefully be re-born as a better place for all. Not till all Malaysians endure the unendurable, will they wake up and realize how they have been lied to and robbed all these years by their so-called leaders.

I think Mudajaya at the RM2.80 level is still a buy. The company's share buyback is a great comfort. Earnings visibility is now clearer, and nearer. What of Xingquan though? A 10% private placement to raise some RM30 million, coupled with a 1:2 free bonus warrant, is a real twister. Can Xingquan attract new investors at placement price of say, RM1.00, and how will existing minority shareholders like Mr Koon view this dilution, having paid significantly more for their stake? Looks like investors need to be in for the long haul for dividends are likely to be measly the next few years with the retail outlets expansion.

I can't agree more - we should help spend more of our children's inheritance to make us, and others, happier. Too much wealth can be a burden, as is too little which may be a handicap. Achieving a fine balance is what the good life is all about.

Your tertiary/profession qualification provides you with overseas mobility, not so 'kulitfication' which provides you a crutch valid only in Malaysia.

Education is the best investment. I can personally vouch for that. A decent tertiary education is a passport to a better life.

Do we care if some Chinese(or Malay or Indian or whatever) tycoons are the richest men in Malaysia? No! We should care that all Malaysians of whatever ethnicity, creed and religion have the basic necessities to lead a decent purposeful life; that their children have a future to look forward to, that they are treasured and can contribute their talents to nation building. At present, that is a pipe dream. The rich elites of whatever ethnicity care only about upholding a corrupted system where they can selfishly maintain power and keep their wealth intact.

Forget about MCA as a political entity with any measure of clout. It's relevance is reduced to being a social organization trying to do a little bit of good here and there for the Chinese community. Its leaders are a bunch of self interested political eunuchs jockeying for some gravy from the Umno dining table. The young are especially scornful of MCA, how can its leaders carry on as if they represent the community? Answer: For the money.

Governments have no business to be in business. If they need to be, they should only be in essential businesses like regulated public utilities supplying electrical power, water and the like. The Government's role, other than in certain exceptions, should be limited to providing the environment for private enterprise to compete and flourish. Why is this BN government involved in so many diverse local business ventures to the extent they unfairly compete with private enterprise? Initially, it was to facilitate objectives of the NEP/NDP. Now these objectives are lost in transition as GLCs dominate numerous sectors; many including MAS and Proton are horribly inefficient and would have been bankrupted in a market driven economy. Taxpayers and consumers have paid the cost of such inefficiencies and other hidden costs, and are still doing so. It's not about Mahathir and politics. It's about a free enterprise economy, private entrepreneurship and innovation that are being throttled by excessive government.

Five simple rules to happiness yet I find it difficult to follow them. It's really hard to be happy.

Would 'optimus7' dare show his face and publicly voice his ridiculous views in Kajang when Mr Koon speaks, presumably at a PKR ceramah? I doubt it. But if he does, please give him the stage for a few minutes to have his say. Hope he does not wet his pants having to speak in front of a possibly hostile crowd.

MAS just announced 4Q2013 loss of RM375mil, making FY2013 loss of 'only' RM1168mil. The record losses of RM1262 mil 2005 and RM2521 mil for 2010 remain intact. Now, is that an improvement or what?

You cannot argue against Kurtzman's four transformational forces that will support USA's probable resurgence this decade. I will add a fifth - constant migration of human talent & financial capital from other countries to the largest capitalist economy in the world. Only the USA can productively absorb and utilize such flows of migrant capital with relative ease. But the US will never be as dominant as they were in the decades before China emerged as a powerhouse.

If you read all his stock investment articles on this blog site, you would have got the essence of what Mr Koon said at the 2 hour talk. At the event, got an autographed copy of his book 'Malaysia - Road map for achieving Vision 2020' which is very interesting reading.

Dutaland? Please check the chequered history of the principal before you promote his stock. How have minority shareholders fared? Can a leopard change its spots?

@Seek, The 1993 mother-of-all bull runs in Malaysia was when I got involved in stock investments. It was a highly speculative environment where the initial frontrunners and the brave made serious money, and kept a large part of it if they exercised prudent money management. But those were heady days, the easy money making gets to you; and greed keeps fear at bay until the crash. I still recall Daim's headline statement in Jan '94 that he was out of the market which many pinpoint for precipitating the crash. As for avoiding such crashes, you really can't if you are always invested in the market but if you adopt value investing strategies and prudent money management, you will be spared the worst effects. A value stock will rebound in time, not so the speculative. Just where is Aokam, Idris, Repco and such speculative darlings now?

Icon, Nothing is forever. That's why the investment game can be so adrenalin charged, almost like gambling in certain ways but with better odds. Just when you think it's a no brainer to put your money in to enjoy an assured rate of return, something changes the equation. As for JT, I view it as a 3 year bet supported by a super investor's hunch. That's good enough for a small wager at this juncture. As for additional future bets, we'll wait and see.

Teresa Kok is a fighting cock, or hen, as some quarters will label her but I believe in this case, discretion may be the better part of valor. I honestly enjoyed the satirical video, it highlighted numerous ills in our society but others of less humorous disposition and different ethnicity took it in a more offensive vein. Times being what it is, there are better ways to deliver a message. Just do the necessary and issue a no fault statement of regret. We know how lopsided the system is.

Hi Seek ; I am still learning but I can share some experience. One lesson is that no two economic crisis are alike, there is always something different so you can never prepare fully for the next. As for margin borrowing, it is like a double edged sword which you unsheath to use at the right moments only or you're likely to stab yourself. I have a few old scars to remind me of my clumsiness and naivete. I am certainly no super investor; just hope to be significantly above average with new skills and shared knowledge.

I went through the 1987/1998/2008 economic recessions. The worst by far was 1987 for economic problems came with political instability as well. Money was a scarce commodity then, credit almost non-existent and quite a few businesses, including stockbrokers, folded up. Yet, those businessmen who survived became more resilient and made good comebacks in the 90's. One debt laden businessman who almost went bust told me he fought for time to survive, for if he had enough time, he could solve any problem with the turn of the business cycle. He did more than that. He subsequently became a household name for self made wealth and success.

First Resources? What is its stock code? I can't seem to find the company on Bursa.

I am buying some JT now for long term hold at 2.38, a most auspicious figure. Within 3 years, I will know whether JT will morph into a killer stock returning 20% plus p.a. over the period. Speculation will be put to rest if you put money where your mouth is, and hold it there for 3 years. No blame on Mr Koon or anyone else if it does'nt pan out. Kudos to him if it does for the unwarranted brickbats that he is taking.

Honestly, we mere mortals have little inclination to be super investors. All we want is to be good long term risk averse investors with 10% compounded return annually.

Those who lost money following a stock recommendation, please move on for your own sake. Don't be stuck in a groove; whining, complaining and blaming others but not yourself. Learn from the experience and make back the money. The market is always there. We have all made bad stock investment decisions one time or another. I still hold some costly duds.

Thanks, Icon, for the alert but I'm waiting for impending 2Q2014 financial results. With trading volumes less than 1 mil daily, JT cannot make a breakout. Perhaps KYY is mopping up loose shares again.

For those who lost money buying a recommended stock, you may do as many have done : dr net worth, cr experience. After a few episodes, if you don't learn money management techniques, you may end up with little money and lots of painful experiences. No one owes anyone anything in stock investment, caveat emptor always; buy and sell at your own risk, at your self imposed constraints.

Mr Koon, What intrigues me are your stock picking techniques. What makes you prefer one stock over another within the same industry to invest in? How do you discern good profit growth potential when analysts who cover the same companies often are unable to? Can you write something on this topic to share with us?

It's not foolhardy to stake it all in JT or some other 'killer' stock if you're absolutely convinced of its coming potential. Unfortunately, I have neither the requisite palm oil industry knowledge, nor the intimate company knowledge, to take such a calculated stand. Still learning about the industry and studying the few Sarawak listed companies diversifying from timber to oil palm.

Mr Koon, please re-consider your decision not to write anymore just because of a few imbecilic juveniles. That would be like throwing in the towel and that is not you at all; a man who openly holds strong political views. The majority of us appreciate your good intentions and value your stock investment insight. Write less if need be; ignore the clowns if necessary, but do not deprive us of your valued input.