Kc chongnz, did not see your earlier posting when u strt all these, how about doing one more in such tough market? I have yet to see any fund mgr who can return handsomely even during down time, by using methods you mentioned. OTB successful as we pick sector, which I notice u didnot. U purely use value investing method, by identifying deep value companies.
In my exp, I doubt also one can be doing well without doing sector screening. Example, I will avoid property stocks now, even I saw lots of stocks now selling below their nta, below EV/ edita
paperlane2, KC always says, diversify your portfolio is the only free lunch in the world... so, i believe he won't risk all counters in his portfolio with single type of business. It might also tell that KC is a long term investor+value investor... his 2013 article had "discovered" homeriz/lii hien/pohuat/hevea/latitud much earlier than others... and if you see the market price 2013 for these counters vs now... :)
Sector screening is very important as it follows the market trend, the cyclical nature of the economy. Two years ago those who invested in the O&G counters made handsome returns whereas those who put their money in the furniture counters reaped handsome gains. We need to keep an eye on the current trend of demand in the various sectors. It's a safer way to track the market other than the various techniques of FA,TA etc, etc.
I am wondering how many counters you need to switch by following the market trend every year:) While, Cold Eye's example proven that a good FA counter like PBBank, you can get 1000x folds in 40 years. 250% of return each years if i just simply the number :)
KCChong. Another good article. Can u share how do u get ROIC, EV/EBIT and EY from your table above? I am a newbie in stock & not very figure good. But you explain FCF and ROE above well. Sometimes, I see some ratios like total debt/EV, or net debt/EBITDA or net debt/FFO etc. being negative. How’s possible? Still hazy and learning. Thank you in advance.
Normally what i do is i google say 'focus lumber ev/ebit' you will see gurufocus results show up. they got virtually all the metrics in there. Can't say they are 100% accurate, by my experience is very reliable.
Posted by king36 > Oct 23, 2015 06:21 AM | Report Abuse KCChong. Another good article. Can u share how do u get ROIC, EV/EBIT and EY from your table above? I am a newbie in stock & not very figure good. But you explain FCF and ROE above well. Sometimes, I see some ratios like total debt/EV, or net debt/EBITDA or net debt/FFO etc. being negative. How’s possible? Still hazy and learning. Thank you in advance.
I am puzzled why your comment was flagged. Something wrong on the quest of learning?
Learning those stuff is easy if you are prepared to spend time and effort. There are plenty of resources out there in the internet. You can refer to some links here if you want to hear my opinion:
Hi KC, I appreciate and respect the articles you have put in here on i3. However you should let this one go. Your analysis of VS was not wrong, but as you say you can't predict the market, and continuing on this route is a dead end.
Would also like to point out to everyone that people who can donate 50 million ringgit style of investment is most likely very different from ikan bilis. They are most likely privy to a lot of information that is unavailable to you.
Posted by thebadguy > Oct 23, 2015 10:17 AM | Report Abuse Hi KC, I appreciate and respect the articles you have put in here on i3. However you should let this one go. Your analysis of VS was not wrong, but as you say you can't predict the market, and continuing on this route is a dead end. Would also like to point out to everyone that people who can donate 50 million ringgit style of investment is most likely very different from ikan bilis. They are most likely privy to a lot of information that is unavailable to you.
There will always be people who will doubt you. Especially the more right you are. Don't spend all that time answering the critics. Save your energy for something more useful. Time is of the essence
Posted by valuelurker > Oct 23, 2015 04:02 PM | Report Abuse There will always be people who will doubt you. Especially the more right you are. Don't spend all that time answering the critics. Save your energy for something more useful. Time is of the essence
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
Posted by Probability > Oct 23, 2015 05:02 PM | Report Abuse Good one there Ezra.... It made me remember all those true warriors who would have lost in a battle. Specifically - battles for a good cause.
Yeah, people, including me, who buy a certain stock are confident, or could be overconfident about the stock. There may be something we are not aware of which may not be good for our investing outcome.
What I was trying to do is to show some of the concerns about the stocks so that they have different perspective and can form better judgment.
Of course i could very well be wrong because as a non-shareholder, i don't know much about the stock but merely from the financial statements, like what icon said.
But how come they took at as if I was trying to talk down on their stocks, and used all kinds of flowery phrases? And even called me names?
But never mind, as properly advised by a few good guys here, I just have to move on.
Yeah KC, let's move on. I agree with II. Your article is must read to me too. I have favorite your site and I read even all of your comments in I3. Cheers!
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Posted by BenBlurBlur > 2015-10-22 20:29 | Report Abuse
If KYY posts tat he made rm 15 millions on VS then u lose is it?? Thank u