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28 comment(s). Last comment by cherry88 2015-09-22 14:33


18,658 posts

Posted by Icon8888 > 2015-09-21 15:23 | Report Abuse

This fellow useless

How can it be that he cannot find anything to buy throughout the year ?

We bought export stocks and are now sitting on tonnes of profit. That was not luck. That was mathematics - weak RM is good for export

The fact that he cannot sieze the opportunity tell u that there is something wrong with him


53 posts

Posted by cola > 2015-09-21 15:44 | Report Abuse

He is probably one of very few "value investors" that trying to time the market.........


18,658 posts

Posted by Icon8888 > 2015-09-21 15:56 | Report Abuse

I can forgive him for wanting to wait for nestle to come down to 30

But I cannot forgive him for not buying pohuat at 1.30, Liihen at 2.75, Hevea at 2.50

That was simply poor judgement


705 posts

Posted by MG9231 > 2015-09-21 16:02 | Report Abuse

He is growing his personal fund management business, spreading to Australia ,Singapore, and currently concentrating china. where as Icap Bhd is limited to Malaysia Market, He is also lone ranger and decision is made by him alone. Unless he is superman, he has lost his focus in Malaysia Market, that is why he didn't buying those export oriented counters.

Posted by crocodile1980 > 2015-09-21 16:12 | Report Abuse

He seem to be more like a speculator that predict or forecast the market that will crash below 1000 points. He is waiting an opportunity that even monkey can simply pick a profitable stock. I used to buy some Icap but eventually I found it is not so promising to get someone to manage your investment portfolio because the money is still yours while the fund manager can still keep piling their wealthy through saving your cash. I only believe a fund manager that totally stand at the same side with investor. Eg. some fund manager that only take 20% of your profit that more that 6% per annum. This makes more sense to me.


18,658 posts

Posted by Icon8888 > 2015-09-21 16:14 | Report Abuse

U r right, he is trying to speculate on the timing

That explains everything


5,723 posts

Posted by murali > 2015-09-21 16:30 | Report Abuse

I beg to differ, TTB is as good as God, he oredi see the bear coming as early as Mac/Apr 2011...Can u do this?


5,723 posts

Posted by murali > 2015-09-21 16:32 | Report Abuse

He has the vision and patience, he can hold 50-60% cash for years while waiting for the bear to come....At the meantime TTB collects his annual fee of RM6-RM7 million without fail....Can you?


18,658 posts

Posted by Icon8888 > 2015-09-21 16:38 | Report Abuse

Ha ha

Posted by profit profits > 2015-09-21 17:32 | Report Abuse

I am confused, when was Nestle sold around 30 ?


18,658 posts

Posted by Icon8888 > 2015-09-21 17:51 | Report Abuse

Ha ha must be when I was wearing diapers


5,723 posts

Posted by murali > 2015-09-21 17:55 | Report Abuse

During early 2011 he wanted to wait for CI to touch 1000....now 2015,still waiting patiently for klci at 1000


18,658 posts

Posted by Icon8888 > 2015-09-21 17:57 | Report Abuse

If he so bearish, should Sai Lang put warrants, right ?


18,658 posts

Posted by Icon8888 > 2015-09-21 17:58 | Report Abuse

Oh my god, don't tell me Fund_Manager is Tan Teng Boo !?


11,670 posts

Posted by JN88 > 2015-09-21 18:03 | Report Abuse

My friend told me he put 100k into bank .....suddenly his cash value become 80k (-20k).....another one put 1000k into bank, he laughing those who invest in stock and loss in stock....but once he start to use his money ...mana tau only worth 800k... put ur cash at bank without do anything also go holland ...wakakakaka


21,497 posts

Posted by KAQ4468 > 2015-09-21 19:13 | Report Abuse


Tan Teng Boo ???


969 posts

Posted by setia2u > 2015-09-21 22:08 | Report Abuse

Who is TTB? Someone holding others' money and keep it as cash instead of inveesting it, instead of paying interest, he collects management fees without fail every year? At the same time keep telling the general investors that market is going to touch 1000 points, hopefully it really come down!!! so that he can buy at cheap price? If CI still not 1000 yet, keep telling some more then, every year in September, yea ... so many years already. In fact, I am fed up now, every year the same companies are featured, SURIA, BSTEAD, PETGAS... no other company are doing well in BURSA? I wonder!!! Pleasssse enlighten me.....


135 posts

Posted by gkheng > 2015-09-21 22:51 | Report Abuse

no matter how, he managed to gather other ppl money for his own management. that explained how the world rotates. U dun need to be good at anything, only good in taking money from other ppl's pocket will do


207 posts

Posted by xiaoji > 2015-09-21 23:55 | Report Abuse

if nestle drop to RM30, i think that time only warren buffet dare to invest.


5,723 posts

Posted by murali > 2015-09-22 08:42 | Report Abuse

The Star interviewed TTB in 2011

Your 10 questions with Tan Teng Boo

1.What is your investment philosophy?

Value investing but in an eclectic manner and with an Asian perspective. It has elements of Warren Buffett, Philip Fisher, Benjamin Graham, John Templeton and my own elements as well and these are best described and understood by comparing them to the remarkable qualities of a bamboo. Maybe my investing style can be termed “Bamboo Value Investing”.

2.Is there an investor you admire greatly and why?

Can I say, myself? If yes, the reason isthis: Other fund managers need only focus on managing their funds. In my case, besides managing funds over RM1bil on a local and global basis, I have a number of companies and a fast growing business to manage at the same time. Yet, I have consistently beaten all the benchmark indices, whether Malaysian or globally based. Hard to find another parallel, really.

3.Why are there no more close end funds like yours on Bursa Malaysia?

Unless the fund manager has an excellent track record, it is very hard to promote and list a close-end fund like icapital.biz Bhd on Bursa Malaysia. It has to go through an IPO process. Most importantly, it is not so profitable for fund management companies to promote and list close-end funds because there are no entry fees or front-end loadings or commissions or bid/offer spreads. Also, investors in Malaysia are not familiar with closed-end funds.

4.What is your opinion of the state of equities and when will be a good time to go in?

Since April/May 2011, I have been bearish on equities globally, including that of Bursa Malaysia. My bearish views have not changed one iota. The best times are when there are screaming buys. The stocks are so undervalued that they actually scream at you to buy them. I am patiently waiting for these.

5.How did you get into the investment business?

Performance in this business is very easy and objective to appraise either you beat the market or you don't. No politics, no rationalising. I find the cold objective appraisal close to finding absolute truth. I am a truth seeker.

Also, there are many investors losing money in the stock market. In 1989, I started i Capital, our weekly investment publication, with investment education in mind.

6.What are your concerns about the Malaysian economy?

Poor productivity, efficiency and competitiveness and that there are no policies to tackle these urgent problems.

The New Economic Model would have been a great solution but self-interested Malaysians have shot it down.

7.You started investing in Malaysia and now have branched out globally. How do you balance between Malaysia and the rest of the world?

With some difficulties. I rely a lot on SIA and have to use Changi as my hub. If only KLIA and MAS can be really world-class and the KLIA is not the furthest airport in the world from a city. Imagine, the KLIA is even further than Narita is from Tokyo (that is why Haneda Airport is becoming more popular than Narita). With the availability of the Internet, with our operations in KL, Singapore and Sydney, these help.

Also, as a value investor, I am not an active investor and do not need to sit in front of the Bloomberg, etc. And with lots of practice and strong support from my wonderful and committed staff, being a global citizen can actually be fun, educational and very meaningful.

Tan: Performance in this business is very easy and objective to appraise – either you beat the market or you don’t.
You once said you made more money investing in Malaysian shares than Buffett did from 1998 to March 2009. Can you still make more money from Malaysian shares or is there more profit elsewhere?

Yes, my returns are higher than Warren Buffett's and also higher than John Paulson's flagship fund. There are great investing opportunities to be found on Bursa Malaysia, as there are some great companies listed there. However, based on sheer numbers, you cannot beat the investing opportunities available from the 40,000 plus listed companies globally.


5,723 posts

Posted by murali > 2015-09-22 08:43 | Report Abuse

8.Any advice to young people wanting to buy stocks or grow their savings?

At Capital Dynamics, our training focuses on developing the right attitude and character and focuses on the long-term. For example, our investment analysts do stuff that are superficially not related to investment research or analysis. Many quit. So, why such an approach? The technical skills like financial modelling are easy to acquire but the right mind set and the right character are not taught in universities.

To be successful, having the right attitude and character are the two most important qualities. Building a successful career is like successful investing. Patience, determination and discipline are three very important qualities. By tasking our investment analysts to do supposedly unrelated stuff, we are developing them to have patience, determination and discipline. Many young people lack these, do not realise it and learn about it too late.

9.How do you see the global problems playing out and what advice can you give people to protect their money in such turbulent times?

The problems facing the global economy are not easy to deal with. Europe and America are just so eager to blame everyone else except themselves. They work 40-hour week but want to have wages equal to 80 hours plus all the generous benefits from the government.

10.When work-life balance tilts so much to life instead of work, who foots the bill and how can the economies expand?

The bearish turbulence globally would still continue for some time to come but in such volatile times, there are also wonderful investing opportunities. Investing in our low risk, high return funds would be perfect.


5,723 posts

Posted by murali > 2015-09-22 08:46 | Report Abuse

All TTB's critics please take note on Q4. TTB has the vision (KLCI at 1000) and patience since 2011.

And dont forget about his persistence too...he will come out to repeat the same every time when market came down for the last few years....

This makes him Malaysian Warrent Buffet,and not you....

4.What is your opinion of the state of equities and when will be a good time to go in?

Since April/May 2011, I have been bearish on equities globally, including that of Bursa Malaysia. My bearish views have not changed one iota. The best times are when there are screaming buys. The stocks are so undervalued that they actually scream at you to buy them. I am patiently waiting for these.


5,723 posts

Posted by murali > 2015-09-22 08:49 | Report Abuse

2015-09-14 11:08

資本投資(ICAP,5108,主板封閉式基金組)創辦人兼董事經理陳鼎武即將在本周舉行的投資者日(Investor Day)開講,在這之前先與《投資致富》進行一段熱身訪問,為讀者分析目前各種市場狀況。

資本投資(ICAP,5108,主板封閉式基金組)創辦人兼董事經理陳鼎武即將在本周舉行的投資者日(Investor Day)開講。(圖:星洲日報)

訪問一開始,他已事先言明,可以作任何高低預測,但不保證所有預測都準確,建議讀者在作任何投資決策前,先想一想本身可享有的安全邊際(Margin of safety),以免得不償失。

陳鼎武將在9月19日週六下午2時30分至5時30分主講,週日活動則從上午9時至5時,3位主講人包括莫實得控股(BSTEAD,2771,主板貿服組)董事經理丹斯里洛丁、曙光資本(S U R I A,6521,主板貿服組)代首席執行員黃潔敏及偉特機構(VITROX,0097,主板科技組)執行董事兼高級副總裁蕭國棟。


5,723 posts

Posted by murali > 2015-09-22 08:51 | Report Abuse


Hmmm....it shoud be read as “我在過去45至48個月前 (early 2011)已持保守及謹慎看法,不只預測馬股將跌至1千點以下,也對所有類型的資產感到擔心,包括房產、金價、油價。”

TTB has seen this coming 4 YEARS AGO....Geng....

Posted by Blowj0b62 > 2015-09-22 08:53 |

Post removed.Why?


5,723 posts

Posted by murali > 2015-09-22 09:06 | Report Abuse

Investments 145,596,798 (2015) 185,731,507 (2014)
Short-term deposits 257,433,655 (2015) 239,709,214 (2014)

Interest income 7,396,822 (2015) 5,941,654 (2014)
Fund management fee 3,187,354 (2015) 3,109,491 (2014)
Investment advisory fee 3,187,354 (2015) 3,109,491 (2014)

Out of their interest income earned on their hugh cash pile in 2015 (RM7.396M), 86% (RM6.374M) went into TTB's pocket...

What has TTB done in 2015 to earn his fee?

(i) Investment portfolio
There were no purchases made since 31 May 2014 and the
current portfolio, ranked in terms of the market value of
each stock and the quantities held are shown in Charts 1
and 2 below.

(ii) Investments sold
For the financial year ended 31 May 2015, your Fund sold
800,000 shares of Fraser & Neave Holdings Bhd, 7,100
shares of Petronas Dagangan Berhad and 300,000 shares
of Suria Capital Holdings Berhad. These sales generated
realised gains of RM8.278 million with a cost of RM5.712

As at 31 May 2015, your Fund invested RM95.687
million with a market value of RM145.597 million, giving
unrealised gains of RM52.816 million. Of your Fund’s
investments as at 31 May 2015, Padini Holdings Berhad,
P.I.E. Industrial Berhad and Suria Capital Holdings Bhd
have substantial unrealised gains.

(iii) Investments made
For the financial year ended 31 May 2015, your Fund
received 979,907 shares as share dividend from Parkson
Holdings Berhad and 621,440 shares as bonus share from
P.I.E. Industrial Berhad.


1,472 posts

Posted by kakashit > 2015-09-22 12:51 | Report Abuse



966 posts

Posted by cherry88 > 2015-09-22 14:33 | Report Abuse

He should invest in Put Warrants ....haha

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