I do not believe in fairy tale portfolio and overall return. Nevertheless, in reality, one or two holdings can really deliver fairy tale return but this is very unlikely the case for overall portfolio.
Said that, I do believe strongly in long term holding strategy, which allows me to catch one or two fairies along some lemons.
I am totally agreed on this article wrote by uncle village. In my dept heart I have a right counters (LPI and Public bank)for long term investment, and I have endurance to hold them but... I need a "right and golden time" to buy in! The right/golden time is next economy crisis. Currently only YTLREIT in my portfolio categorize as long term investment.
Long term investment is not really suitable for the retail investor. Just like what the author mention, at the right time, the right stock and the right price. Sometime the right company will turn bad after a few years.For the long term investment, the guru told us, we are invest in the company grow, and not speculate on the market price. But, we are only the retail investor with the small amount of money. We are not even have a chance to get the direct first hand info, not even can have a chance to visit the Director and having a interview to know more detail about what is their future plan. Then how we going to justify is the company will have the long term grow as what we expecting after we doing our so call "homework". Those homework is all based on the history data. There is lot of cases, the company have a very good pass year record, but just a sudden, they come out with an unexpected result, the share price will drop sharply. Zhulian is one of it, recently Johotin also. So what is the different between the so call long term investor or value investor (here is refering to those retail investor with the believe of buy and hold method, not for the institution or big boy like cool eye or Koon). I always read lot of those so call value investor critics the trader (investing based on price movement) is a speculator. But I found out there no different at all, all of the retailer in the stock market is mostly is a speculator, one is speculate on the next company result another one is speculate on the next price movement. So those so call the value investor and always showing their homework on analyst the financial statement is all talk cock. IF YOU DO NOT HAVE A SENSE OF BUSINESS, AND DO NOT KNOW WHAT IS THE PARTICULAR INDUSTRY FUTURE OUTLOOK. THEN YOU JUST INVEST INTO THE "GOOD FUNDAMENTAL COMPANY" BASED ON THE SO CALL THE HOMEWORK OF THE PASS YEAR RESULT. YOU ALSO ARE SPECULATOR.
My friend is the first type. He bought redtone 3 years back when he is 1st year in uni at RM0.18. Is people asked him to go and buy. Thats why he go maybank to open a trust account. Till today he achieved approximate 450% return and yet he still don't know whats the company doing. He never bother to see at all. Is this luck? haha.
Mentality and Purpose will make the different. Invest like you buy property. In property it is location while in stocks it is Business Value. 20 years would be a fairy tale story.
If you invest Rm50k in either one of the company such as Public, Nestle, Utd Plant, LPI, Maybank..20 years ago, i believe the value of stock price plus div would be more than Rm1 mil by Now.
PB, LPI, MBB, Nestle turn into faires in 20-30yrs by consistent and aggressive growth. Mahsing for the last few yrs has demonstrated the same trend. Will Mahsing able to continue the trend for 20 yrs? I have a dream that Mahsing turns fairySing in 20 years and me too.
Stephen Chow quoted that a person without dream is not different from salted fish. Do you agree in sunny Sunday.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
bsngpg
2,842 posts
Posted by bsngpg > 2014-09-20 10:51 | Report Abuse
说真话的一篇最现实文章。一定要仔细读好,然后牢牢记住。这才是真真的股市投资。超贊,