4 people like this.

99 comment(s). Last comment by leno 2016-01-01 10:27

valuelurker

1,132 posts

Posted by valuelurker > 2015-12-30 10:21 | Report Abuse

Don't get emotional old man

3iii

10,614 posts

Posted by 3iii > 2015-12-30 11:05 | Report Abuse

There is no one method to skin a cat. There are many roads to China. Therefore, there are many strategies employed profitably in investing.

3iii

10,614 posts

Posted by 3iii > 2015-12-30 11:05 | Report Abuse

It is kind of KCChong to share his knowledge and educating many who follow him.

3iii

10,614 posts

Posted by 3iii > 2015-12-30 11:12 |

Post removed.Why?

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-30 11:12 | Report Abuse

Posted by rosetan > Dec 30, 2015 09:34 AM | Report Abuse
kcchong, i would rather that you just share the facts and leave emotion out. It mars your professionalism.

Rose,

Thanks for your comment. But is there any emotion about my article? Isn't it healthy to discuss about the merits and shortcomings of various philosophies, methodologies, strategies about investing which the article is about, instead of talking about who is rich or poor, and who is stupid or clever, good or bad?

3iii

10,614 posts

Posted by 3iii > 2015-12-30 11:14 | Report Abuse

I have not used his strategy in creating my portfolio. However, you do acquire a lot of good principles of value investing reading through Joel Greenblatt's book. It was nice to see KCChong creating portfolios based on this magic formula of Joel Greenblatt, prospectively, and showing that he has profited handsomely over the last 2 or 3 years. Thanks for sharing generously, KC.

alivetoinvest

1,169 posts

Posted by alivetoinvest > 2015-12-30 11:37 | Report Abuse

Hi Kc Chong

May i know your oppinion of Bjcorp as it has a pe of only 1.78?
It would really really help many investors if you could provide some insights.

Thanks

rosetan

945 posts

Posted by rosetan > 2015-12-30 11:58 | Report Abuse

skyz, I would say the same to KYY. Ideally i3 is a platform to share knowledge and experiences so that all may benefit in one way or another. There are all sorts of opinions. We take what suits us and leave aside what we do not agree. There is no need to be emotional. That's my 2 cents' worth.

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-30 12:13 | Report Abuse

Posted by alivetoinvest > Dec 30, 2015 11:37 AM | Report Abuse

Hi Kc Chong

May i know your oppinion of Bjcorp as it has a pe of only 1.78?
It would really really help many investors if you could provide some insights.

Thanks


Don't know much about Bjcorp. I normally go far far away from this type of stock; huge assets and huge debts, multi and complicated business, questionable management and major shareholders, opaque, all kinds of related party transactions etc.

I have been questioning the E in the PE ratio. A glance at its financial statement shows one-time off item makes up its major "profit", hence the poor operation cash flow.

One may be tempted to invest based on its seemingly high NTA. Alas, most of its assets is made up of "intangible".

paperplane2016

21,585 posts

Posted by paperplane2016 > 2015-12-30 13:23 | Report Abuse

Kc, you are wrong on Bjcorp!
It is holding company of all its clans. So it should be applied 25% discount for holding company?
But then its assets is really good and undervalued deeply.

NTA 1.60, now mkt price RM0.38.

Doesn't this apply as graham undervalued stocks? Using strictly VALUE Investing, this is a hell of a buy for Graham, just like KUCHAI, PRKCorp, FACBIND, etc.

YOu can judge a stock using your perception tht VT is a questionalble mgt. This is not how GRAHAM teach us.

alivetoinvest

1,169 posts

Posted by alivetoinvest > 2015-12-30 13:35 | Report Abuse

Thank you Kc Chong. Really appreciate the detailed comment

Now i have a better understanding on its weak performance

Have a happy new year!
Cheers

3iii

10,614 posts

Posted by 3iii > 2015-12-30 13:36 | Report Abuse

Berjaya Corp

Valuation Ratios (Adjusted)

Price Earnings Ratio (PER) - 1.78
Price/NAV - 0.2196
Price/NTA - 1.9751
Price/Revenue - 0.160
Price/Operating Cash Flow - 57.135

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-30 14:19 | Report Abuse

Posted by paperplane2016 > Dec 30, 2015 01:23 PM | Report Abuse

Kc, you are wrong on Bjcorp!
It is holding company of all its clans. So it should be applied 25% discount for holding company?
But then its assets is really good and undervalued deeply.

NTA 1.60, now mkt price RM0.38.

Doesn't this apply as graham undervalued stocks? Using strictly VALUE Investing, this is a hell of a buy for Graham, just like KUCHAI, PRKCorp, FACBIND, etc.

YOu can judge a stock using your perception tht VT is a questionalble mgt. This is not how GRAHAM teach us.


paperplane, ys you are right, I may be wrong about BJCorp as I have said, I don't know about it, but I don't want to invest in it for the reasons given by me. Hence I didn't spend time on it.

But bear in mind of a couple of comments

1) What is the normalized earnings you get to obtain the PE ratio? A one-time gain in asset disposal must be excluded.

2) Its net asset backing per share may be high, but you need to check its net tangible asset backing per share if you want to look at asset to invest.

necro

4,738 posts

Posted by necro > 2015-12-30 18:20 | Report Abuse

Kcchong mind share your opinion on Ayam Tua favorite counter

NTPM

necro

4,738 posts

Posted by necro > 2015-12-30 20:04 | Report Abuse

Hahahaha....janganlah marah abam ayam..nanti tua nanti!!!

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 05:00 | Report Abuse

Posted by Desa20201956 > Dec 29, 2015 10:18 PM | Report Abuse

love that...better than a ratio

<Soros, do u know just now at 4pm++ when sifu said he "planning to gonin" BHS...immediately BHS share price shoot from 0.51 to 0.53...after 10 minutes he said the planning called off, the price immediately drop back to 0.51...our sifu really super keng>


I wish to withdraw my statement below in the article. It was a wrong judgment of mine.


[Newbies? Which newbie you are talking about? In my opinion, the following commentator in my previous thread knows a lot than many here with his highly knowledgeable and constructive comments,



Posted by Desa20201956 > Dec 28, 2015 09:30 PM | Report Abuse

“Ratios hardly help in this respect.....but insider information and deep understanding of the company and its environment will do the trick.

But the best buys are those companies with a good business model, good management and good figures. and you can buy it at a decent price....or in the words of KYY, profits increasing Q by Q and still below PE 10.”]

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 05:03 | Report Abuse

Posted by leno > Dec 29, 2015 09:49 PM | Report Abuse

hahahah ... kcc is learning ... kcc wan to learn mar ... must let him learn ... right lesson wrong lesson is still learning something mar ... u so clever why u no become rich leh ...


What kind of "panlai" statement is above?

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 05:31 | Report Abuse

Posted by Newbhere > Dec 30, 2015 11:56 AM | Report Abuse
Mr Chong, just ignore the noise and continue writing and educating people. Hope to see more "new" materials from you.

Hi Newbhere, thanks for your comment. I remember you. Good that you are no more "annoyed" by my straight-to-the-point, "you-believe-as-sacastic" comments. I mean no malice.

When I write an article, I like when people read, and comment, whether it is for or against. We deliberate, argue about subject, not name calling and personal attack. If you are sarcastic, I can be too,but I just take it as some fun. I just don't take this personally. It is better than to get angry about it. It is just that sometimes our human nature, it is hard to control anger such as when people call you "stupid", "bullshit" etc. without basis.

So please comment, even it is against what I write. I will still appreciate.

"New" Material?

In fundamental investing, it is evergreen, in my opinion; buying good stuff at reasonable or better still cheap price, or buying mediocre stuff at cheap price. Good fundamental investing follow a few core principles as I have been writing about. If you read some of those investment books, they talk about the same principles and methodologies over and over again.

Sound boring? That is sound investment, in my opinion.

May be you refer to "new" as new stocks recommendation?

Sorry, I have no tips.

duitKWSPkita

27,599 posts

Posted by duitKWSPkita > 2015-12-31 13:30 | Report Abuse

Dear Respected Mr. Kc Chong.
Hope 2015 A wonderful year for you.

Renewal Of Friendship Contract 2016 After Serious And Cautious Consideration, Your Contract Has Been Renewed For The Year 2016. So, try to be more LOVING and CARING next year.
Take care of Me and Miss me. Because, It’s Impossible To Find A Friend Who is 95% Ideal 96% Smart 97% Kind 98% True 99% TALENTED and 100% Lovable So, Don’t lose Whom U Never Want To Lose. Wish YOU and FAMILY a Very Happy New Year! (hahahahahah....just for laugh)

Wishing you 12 Months of success, 52 weeks of laughter, 365 days of fun, 8760 hours of joy, 525600 minutes of good luck and 31536000 seconds of happiness

Warmest Regards,
duit

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 14:01 | Report Abuse

Posted by necro > Dec 30, 2015 06:20 PM | Report Abuse

Kcchong mind share your opinion on Ayam Tua favorite counter

NTPM


necro,

NTPM is a good company. It is listed in my first portfolio posted in i3investor in January 2013.

You just have to check if its price is right. One way to do it is to try to do some simple valuation based on my article here:

http://klse.i3investor.com/blogs/kcchongnz/67260.jsp

paperplane2016

21,585 posts

Posted by paperplane2016 > 2015-12-31 14:05 | Report Abuse

KCChongnz, can you help us there to understand what is Sharpe ratio? And how to calculate it in simply way? I want to understand more on this area. High return, not necessary a good high risk reward return.
This will help differentiate a good fund mgr, and a bad one according to risk taken.
Thanks

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:09 | Report Abuse

Google lah bro... Don't everyting ask KC spoon feed u....

After he spoon feed u, have u ever thank him ?

No....all you do is badmouthed him...

Everything I said is correct, is it not ?

paperplane2016

21,585 posts

Posted by paperplane2016 > 2015-12-31 14:13 | Report Abuse

please make sensible comments Icon, I have never badmouthed KCChongnz.

He is the best person to educate ppl in forum on this.

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:17 | Report Abuse

Never bad mouthed him ? U said he only good in theory

I don't need to prove it, KC remember it in his heart

He talk soft soft, but he remember you and your bad stabbing tactics

leno

5,945 posts

Posted by leno > 2015-12-31 14:17 | Report Abuse

sharpe ratio is easy moozy onli ... for eg. PMCOrp NA 52 sen ... share price 26 sen , sharpe ratio is 52:26 = 2 ... anything above 1 is good ... anything is 2 is excellent. Excellent mean High Untung, zero risk.

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:19 | Report Abuse

Hello Leno the good doctor, happy new year to you

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:19 | Report Abuse

Happy new year to KC also

Ok lah, paperplane also lah

leno

5,945 posts

Posted by leno > 2015-12-31 14:19 | Report Abuse

happi new year to Icon too ... wish u all the best ... and BOH CHOOOOW CCCCCCCCCCC AAAAAAAAAAAAAAAAAA !!!

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:21 | Report Abuse

Wah the theme is still boh chow cccc Ah ?

2016 no new theme meh ?

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:23 | Report Abuse

see ? Stoopeeed plane, now KC upset already

Why u so bad ?

Sharpe ratio ? KC will give you the Finger ratio

leno

5,945 posts

Posted by leno > 2015-12-31 14:23 | Report Abuse

err ... no .... not yet.

FuhYo

7 posts

Posted by FuhYo > 2015-12-31 14:24 |

Post removed.Why?

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 14:28 | Report Abuse

hoo hoo, Icon 1 paperplane 0

ding ding

leno

5,945 posts

Posted by leno > 2015-12-31 14:29 | Report Abuse

sharpe ration part II : now imagine PMCorp give out 8 sen special dividend ... NA will become 52-8 = 44, and share price adjust to 26-8 = 18, the Sharpe ratio now become 44:18 = 2.4 !! Which is MORE THAN EXCELLENTE !! To adjust back to Sharpe ratio 2, the market will price back PMCorp to 22 sen = another 4 sen gain or 22% extra upside ! FUYOH ! WASEH ! Cipet beli aaaaaaAAAAAHH ! Sure UNTUNG, zero risk !! Hope this example has enlightened everi one regarding sharpe ratio ... sekian, tima kacih.

paperplane2016

21,585 posts

Posted by paperplane2016 > 2015-12-31 15:55 | Report Abuse

Posted by Icon8888 > Dec 31, 2015 02:17 PM | Report Abuse

Never bad mouthed him ? U said he only good in theory

I don't need to prove it, KC remember it in his heart

He talk soft soft, but he remember you and your bad stabbing tactics
--------------------------------------
I said he is good in theory, not just only good in theory, pls don't twist the words like a snake. Final decision is yours

leno

5,945 posts

Posted by leno > 2015-12-31 16:32 | Report Abuse

u no brush teeth ... tat's why everi thing come out also smell bad ... tsk tsk tsk ... BOH CHOOOOOW CCCCCCCCCCCCC AAAAAAAAAAAAAAAAAAAAA !!!

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 17:16 | Report Abuse

Posted by paperplane2016 > Dec 31, 2015 02:05 PM | Report Abuse

KCChongnz, can you help us there to understand what is Sharpe ratio? And how to calculate it in simply way? I want to understand more on this area. High return, not necessary a good high risk reward return.
This will help differentiate a good fund mgr, and a bad one according to risk taken.
Thanks

Posted by leno > Dec 31, 2015 02:17 PM | Report Abuse
sharpe ratio is easy moozy onli ... for eg. PMCOrp NA 52 sen ... share price 26 sen , sharpe ratio is 52:26 = 2 ... anything above 1 is good ... anything is 2 is excellent. Excellent mean High Untung, zero risk.


Everyday learn new thing!

paperplane, icon8888 is right. There are huge amount of resources in the net regarding this apa ini Sharpe Ratio.

I am actually quite good at this apa ini Sharpe Ratio, Treynor ratio, Jensen alpha and whatnot.

But my opinion is don't bother about these ratios. They are blunt, not sharp.

It is much better to learn ebit enterprise ratio, cash ratio, ROE, ROIC and other ratios.

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 17:20 | Report Abuse

The difference between a wise man and a fool is that a wise man knows what is important, what is not

A fool doesn't

yeekarwai88

4,001 posts

Posted by yeekarwai88 > 2015-12-31 17:25 | Report Abuse

Posted by paperplane2016 > Dec 31, 2015 03:55 PM | Report Abuse

I said he is good in theory, not just only good in theory, pls don't twist the words like a snake. Final decision is yours


hahahahahaha,3BILLION FUND MANAGER said:" pls don't twist the words like a snake." YOU are the one who always twist the words like a snake! always go other counters ka ka cau cau.

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 18:31 | Report Abuse

happy new year 2016 for all the visitors and commentators here.

Icon8888

19,022 posts

Posted by Icon8888 > 2015-12-31 18:44 | Report Abuse

Happy new year KC !! Wish you a safe healthy happy and prosperous 2016

leno

5,945 posts

Posted by leno > 2015-12-31 19:50 | Report Abuse

Happi new year to all leno fansi ... KCChong fansi automatic become leno fansi .. because kcchong is also leno fansi ... HAHAHAHAHAHAH .... being your favourite idol ... leno like to declare 2016 theme will be "Let's be happi happi ... dun lah be angri angri ... YAAMMMMMMM SINGGGGGGGGGGGGGGGGGGGGGGGGG !!"

kcchongnz

6,681 posts

Posted by kcchongnz > 2015-12-31 20:59 | Report Abuse

Happy new year my friend Leno

leno

5,945 posts

Posted by leno > 2015-12-31 21:19 | Report Abuse

happi new year to KCC ... and leno have self-promoted to be KCC marketing manager ... YAAAAAAAAAM SINGGGGGGGGGGGGGGGGGG !!! HAHAHAHAHAHAHA ... everi one else, dun jeles-jeles hor ......

Posted by donfollowblindly > 2016-01-01 04:25 | Report Abuse

we have so many big companies in Malaysia that have big cash pile but they also borrow big monies......nobody do business without bank loans......either you don't know how to do business or you can't borrow.........

http://klse.i3investor.com/blogs/ddsqwdwc/88943.jsp

Posted by donfollowblindly > 2016-01-01 04:30 | Report Abuse

So if read KC Chong blogs who is anti bank borrowing meaning he can't borrow type?

Posted by donfollowblindly > Jan 1, 2016 04:25 AM | Report Abuse X

we have so many big companies in Malaysia that have big cash pile but they also borrow big monies......nobody do business without bank loans......either you don't know how to do business or you can't borrow.........

http://klse.i3investor.com/blogs/ddsqwdwc/88943.jsp

kcchongnz

6,681 posts

Posted by kcchongnz > 2016-01-01 06:43 | Report Abuse

What is your point here? I_like_dividend,donfollowblindly, or not-truthseeker679 or some other funny names



Posted by donfollowblindly > Jan 1, 2016 04:30 AM | Report Abuse

So if read KC Chong blogs who is anti bank borrowing meaning he can't borrow type?

Posted by donfollowblindly > Jan 1, 2016 04:25 AM | Report Abuse X

we have so many big companies in Malaysia that have big cash pile but they also borrow big monies......nobody do business without bank loans......either you don't know how to do business or you can't borrow.........

leno

5,945 posts

Posted by leno > 2016-01-01 10:27 | Report Abuse

no lar ... it is not that we are anti-bank borrowing ... but as a certain type of investors, we prefer company with less borrowing. We call it "margin of safety" mar. If certain unpredictable unfortunate thing happen, usually it is the company with "a lot of cash, minimal borrowing" will survive. Rule no. 1 .. is dun lose money (when un-predictable unfortunate time happen) mar. Therefore making money come second lor. That to say, nothing wrong if certain people prefer to invest in "little cash + a lot borrowing" or another group which invest in "a lot of cash + a lot of borrowing." These group can make money too if they enter at correct price and correct time. No doubt. It is just a preference and policy of masing-masing. Group one have certain belief and it is justifiable belief. Group 2 also can make money, but it need more tarraly type of work. As leno has mention many times ... nothing wrong with each group. But matters become weird when different group members cannot IGNORE other group club posting or principles. It is like going to mosque and getting angry because u are chrismas fellow, and vise versa. HAHAHAH ... u see leno go into what ever club also sound veli veli panlai one. Why ? Because leno is veli veli panlai mar .... AHAHAHAHAHAHAH !

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