Posted by stockmanmy > 2017-04-07 11:52 | Report Abuse

and in fact the biggest handicap for retail investors is the 30% margin of safety........left got devil, right got ghost, ask them to put in FD la.



y popo92 > Apr 7, 2017 11:44 AM | Report Abuse

In fact, the biggest advantage for retailers over big players institution is choosing small cap stocks.

Posted by Jonathan Keung > 2017-04-07 11:57 | Report Abuse

30% safety is not a must. every trade has it's own inherent risk. is up to us to decide our risk factor !. buying blue chips ( also have it's own risk ) to quote and unquote. PBB is trading at a high valuation . are we going to invest in PBB based on current valuations or its future earnings potential. nobody can decide . only you yourself know.

Posted by stockmanmy > 2017-04-07 12:20 | Report Abuse

I am not saying must buy Blue Chip

I am saying a self declared value investor should stick to Blue Chips...........then he can apply his esoteric formulas and fancy formulas with confidence.

Posted by smalltimer > 2017-04-07 12:29 | Report Abuse

Internet has make people unbashful....those days we have courtesy...now dead...

Posted by stockmanmy > 2017-04-07 12:29 | Report Abuse

wealth wizard is different.....wealth wizard dares to do projections and he lives or die on the basis of his projections.

No need fanciful formulas ...just pure and simple projections.

You take a risk, and you get rewarded by the market for taking the risk and later proven correct.

Posted by pussycats > 2017-04-07 13:31 | Report Abuse

happy in life... like a cat. No worry. Life is beautiful for a cat to do sat walk.

Stockman Dynamic investing →how to make projection(s) for JAKS, care to show us here how make JAKS projection to enlighten us here??? Bcos all talk & criticise others make Stockman a laughing stock of i3.

Stockman, show your dynamic projections stuff here. So that we know, u are not bodoh sombong kata AyamTua, kikikiki

Posted by pussycats > 2017-04-07 13:38 | Report Abuse

calling for stockmanny...
Stockman, show your dynamic projections stuff here. So that we know, u are not bodoh sombong kata AyamTua, kikikiki

Posted by cend0l > 2017-04-07 14:33 | Report Abuse

Stockmanmy

Stop evading KC's challenge. What is your valuation of Genting?

Reply and silence your critics.

Posted by kcchongnz > 2017-04-07 15:08 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 09:48 AM | Report Abuse
And if you want to show success , you have to eliminate margin of safety as practised here in i3 from your thoughts. Otherwise, a share go up 5%, it already drop off your margin of safety and quickly sold it off already.

When you buy a share with MOS of 30%, and you sell it when it goes up 5%? Is that the way a self-proclaimed accountant understand what MOS is?

I think you better learn MOS from an engineer, a genuine engineer.

http://klse.i3investor.com/blogs/kcchongnz/115857.jsp

The more you talk, the more you exposed yourself to be an empty tong, pong pong pong.

Posted by MG9231 > 2017-04-07 15:11 | Report Abuse

Posted by kcchongnz > Apr 7, 2017 03:08 PM | Report Abuse

Posted by stockmanmy > Apr 7, 2017 09:48 AM | Report Abuse
And if you want to show success , you have to eliminate margin of safety as practised here in i3 from your thoughts. Otherwise, a share go up 5%, it already drop off your margin of safety and quickly sold it off already.

When you buy a share with MOS of 30%, and you sell it when it goes up 5%? Is that the way a self-proclaimed accountant understand what MOS is?

I think you better learn MOS from an engineer, a genuine engineer.

http://klse.i3investor.com/blogs/kcchongnz/115857.jsp

The more you talk, the more you exposed yourself to be an empty tong, pong pong pong.


I JUST CAN'T STOP LAUGHING...

Posted by kcchongnz > 2017-04-07 15:22 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 09:24 AM | Report Abuse
Genting, of course , is a fantastic one for value investors. I don't need any calculation, its in the front pages of its Annual Report.......Its market cap to EBITA ratio is 5, trading close to its NTA.....meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years from earnings before interest and depreciation....and its a Blue Chip.

ME: REALLY AH, GET BACK YOUR MARKET CAP IN 5 YEARS IF MC/EBITDA IS 5 TIMES? WHERE YOU LEARN ONE AH?

This is what warren Buffet said aabout people using Ebitda

Buffett’s Thoughts on EBITDA?

A year before that in 2002, it was pretty much the same when it came to EBITDA.
It amazes me how widespread the use of EBITDA has become. People try to dress up financial statements with it.
We won’t buy into companies where someone’s talking about EBITDA. If you look at all companies, and split them into companies that use EBITDA as a metric and those that don’t, I suspect you’ll find a lot more fraud in the former group. Look at companies like Wal-Mart, GE and Microsoft — they’ll never use EBITDA in their annual report.
People who use EBITDA are either trying to con you or they’re conning themselves. Telecoms, for example, spend every dime that’s coming in. Interest and taxes are real costs.

Posted by Luigi Mario > 2017-04-07 15:28 | Report Abuse

1 person wants you to have knowledge before you invest, the other wants you to drop all the knowledge and information and invest with guts.... hmm... which 1 to choose???

Posted by stockmanmy > 2017-04-07 15:34 | Report Abuse

Why must I have a valuation for Genting.?


Genting, of course , is a fantastic one for value investors. I don't need any calculation, its in the front pages of its Annual Report.......Its market cap to EBITA ratio is 5, trading close to its NTA.....meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years from earnings before interest and depreciation....and its a Blue Chip.

Getting dozens of casino licences at book values should be rewarding enough for all value investors...and a market cap to EBITA ratio of 5 to boot.

Posted by kcchongnz > 2017-04-07 15:35 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 09:24 AM | Report Abuse
Genuine Value investors do not whack Ace Market counters and do not whack Fibon.

True, we never “whack” Fibon, or any stock. We invest for long-term. Unlike you like to “whack” or “sailang” everything.

How were your “sailing” in UMWOG at 80 sen? what about your “whack” in CSCSteel at RM2.30+?


Fibon was my stock pick in my “Stock Pick Challenge” in 2013 at 33 sen. Please refer Table 2 in this thread.

http://klse.i3investor.com/blogs/kcchongnz/119863.jsp

Up till 4th April 2017, or 3 and a half year, it returns a whopping 149%, whereas Genting returns 20%. So, if going back to 2014, which stock you would invest on 1st August 2013?

Posted by PlsGiveBonus > 2017-04-07 15:41 | Report Abuse

Wall lend bat fed already old
Now dunno what is investing
May be forget already

Posted by stockmanmy > 2017-04-07 15:50 | Report Abuse

On Jaks projections......


You can find them in Public Bank Report.....


https://klse.i3investor.com/blogs/PublicInvest/113441.jsp



For my summary, You can find them here.



https://klse.i3investor.com/blogs/stockman/113723.jsp

Posted by stockmanmy > 2017-04-07 15:54 | Report Abuse

On IRR from electricity sales, I am given to understand that the actual IRR from electricity sales will far exceed what is given to the bankers. ..and why they think so.

Posted by kcchongnz > 2017-04-07 15:54 | Report Abuse

Genting has a market cap of 29.8b as on 31st December 2016. Its total equity was 65.8b.

Tell me accountant. How do you justify your statement here,

"Its market cap to EBITA ratio is 5, trading close to its NTA.....meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years"



Posted by stockmanmy > Apr 7, 2017 03:34 PM | Report Abuse
Why must I have a valuation for Genting.?
Genting, of course , is a fantastic one for value investors. I don't need any calculation, its in the front pages of its Annual Report.......Its market cap to EBITA ratio is 5, trading close to its NTA.....meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years from earnings before interest and depreciation....and its a Blue Chip.

Getting dozens of casino licences at book values should be rewarding enough for all value investors...and a market cap to EBITA ratio of 5 to boot.

Posted by kcchongnz > 2017-04-07 15:58 | Report Abuse

Here’s what Munger had to say about EBITDA in the 2003 shareholder meeting.


[When goodwill was required to be amortized,] we ignored amortization of goodwill and told our owners to ignore it, even though it was in GAAP [Generally Accepted Accounting Principles]. We felt that it was arbitrary.

We thought crazy pension assumptions caused people to record phantom earnings. So, we’re willing to tell you when we think there’s data that is more useful than GAAP earnings.

Not thinking of depreciation as an expense is crazy. I can think of a few businesses where one could ignore depreciation charges, but not many. Even with our gas pipelines, depreciation is real — you have to maintain them and eventually they become worthless (though this may be 100 years).

It [depreciation] is reverse float — you lay out money before you get cash. Any management that doesn’t regards depreciation as an expense is living in a dream world, but they’re encouraged to do so by bankers. Many times, this comes close to a flim flam game.

People want to send me books with EBITDA and I say fine, as long as you pay cap ex. There are very few businesses that can spend a lot less than depreciation and maintain the health of the business.

This is nonsense. It couldn’t be worse. But a whole generation of investors have been taught this. It’s not a non-cash expense — it’s a cash expense but you spend it first. It’s a delayed recording of a cash expense.

We at Berkshire are going to spend more this year on cap ex than we depreciate.

[CM: I think that, every time you saw the word EBITDA [earnings], you should substitute the word “bullshit” earnings.]

– Source: What adjustments to reported earnings do you make?

Posted by kcchongnz > 2017-04-07 16:12 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 03:54 PM | Report Abuse
On Jaks projections......

On IRR from electricity sales, I am given to understand that the actual IRR from electricity sales will far exceed what is given to the bankers. ..and why they think so.


Yeah yeah yeah, the IRR is > 100%. Just keep on buying JaKs. But why don't you do it quietly and why you want to tell the whole world that Jaks is so good that it would jeopardize your buying at a lower price?

Why you so stupid doing that?

Nobody even talks about Jaks in this thread, is there?

Posted by PlsGiveBonus > 2017-04-07 16:45 | Report Abuse

Bull market everyone can be "investor"
:D

Posted by stockmanmy > 2017-04-07 16:46 | Report Abuse

my actual words...

"meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years from earnings before interest and depreciation"

you are not supposed to debate by editing what I wrote...that is cheating.

Posted by stockmanmy > 2017-04-07 16:48 | Report Abuse

Genting has a market cap of 29.8b as on 31st December 2016. Its total equity was 65.8b.

KC.....Genting equity to market cap ratio is 2.2 times? so good eh?

then you should buy more.

Posted by stockmanmy > 2017-04-07 16:54 | Report Abuse

Nobody even talks about Jaks in this thread, is there?
=====

somebody asked me a direct question........

Posted by kcchongnz > 2017-04-07 16:55 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 04:46 PM | Report Abuse
my actual words...
"meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years from earnings before interest and depreciation"
you are not supposed to debate by editing what I wrote...that is cheating.


I have never read investors talked like that.

"meaning you get its dozens of casino license at book values, you get back your whole market cap in 5 years from earnings before interest and depreciation"

Very strange. MC is the share or equity value, EBITDA is company earnings.

You may say the MC is only 5 times EBITDA.

But again EBITDA is the "bullshit earnings" of the firm, and how can you use a ratio with the numerator for equity shareholders, but the denominator for the whole firm?

Right or not, accountant?

But again have you read what Charles Munger and Warren Buffet talk about EBITDA as posted by me above?

Posted by stockmanmy > 2017-04-07 16:57 | Report Abuse

CM: I think that, every time you saw the word EBITDA [earnings], you should substitute the word “bullshit” earnings.]
=======================

not if you do not edit my sentence and tell them the full sentence.

Posted by stockmanmy > 2017-04-07 17:08 | Report Abuse

well...seeking alpha is not the only goal of genuine value investors adviser............

But, if you are Dynamic Investor, then it is different and OK.

======================
Up till 4th April 2017, or 3 and a half year, it returns a whopping 149%, whereas Genting returns 20%. So, if going back to 2014, which stock you would invest on 1st August 2013?

Posted by 稻田·* 片片绿青~粒粒芳香 > 2017-04-07 17:09 | Report Abuse

stockmanmy...can I ask U one very sensitive ques??

Mr. Master Kc Chong pay U how much per week>??? Why U help him keep warm all his article...??? so nice la you...

Posted by stockmanmy > 2017-04-07 17:21 | Report Abuse

duit...all in the name of sharing.

I very generous one, if people know me better.

===============================

Why U help him keep warm all his article...??? so nice la you...

Posted by stockmanmy > 2017-04-07 17:37 | Report Abuse

kc


On CSC, I made money...
on UMWOG, I lost a little

There are times, I dabble, there are times I sailang.

But all my big mistakes this year are never in buying the wrong stocks....but in selling my stocks too early......

My portfolio growth this year would have easily exceeded 100% this few months if I sold correctly instead of the miserable 30 - 40 % I now have.

Posted by PlsGiveBonus > 2017-04-07 17:37 | Report Abuse

Investing is : follow the richest, they buy what we buy what
:D
Today the richest guy buy Johan, everyone go to buy too.

Posted by stockmanmy > 2017-04-07 17:38 | Report Abuse

kc


On CSC, I made money...
on UMWOG, I lost a little

There are times, I dabble, there are times I sailang.

But all my big mistakes this year are never in buying the wrong stocks....but in selling my stocks too early......

My portfolio growth this year would have easily exceeded 100% this few months if I sold correctly instead of the miserable 40 % I now have.

Posted by enning22 > 2017-04-07 17:40 | Report Abuse

kcchongnz kindly educate yourself first , and not to mislead othersas whim , The Last VS episode , clearly showed you have many things to learn.

Posted by PlsGiveBonus > 2017-04-07 17:41 | Report Abuse

Wall lend but fade is richest guy, everyone also follow him.
Nothing wrong to follow wall lend but fade

Posted by stockmanmy > 2017-04-07 17:57 | Report Abuse

Wall Lend don't have any weakness for people to criticize. That is for sure.

He cultivated his image well.

Posted by stockmanmy > 2017-04-07 17:58 | Report Abuse

I answered that already.

==============
Stop evading KC's challenge. What is your valuation of Genting?

Reply and silence your critics.

Posted by stockmanmy > 2017-04-07 18:02 | Report Abuse

On Genting, let me tell you a secret.....I actually asked ask KYY to follow me buy Genting at below $ 8.00 for the same reasons I posted here.

I though a guy like him should get some Blue Chips for once. He told me he is very bullish of the market when everyone was panicking in Nov / Dec.

He refers Genting to his assistant, don't know what happened to it.

Posted by stockmanmy > 2017-04-07 18:15 | Report Abuse

To tell you another secret............

I actually don't have a personal valuation of stuffs I buy. I look at analysts TP as a joke.

maybe, that is my weakness and maybe because of that I sell too early....I almost always sell too early.

actually the last few months very easy to make money one.....just jump into the theme of the moment...so many shares that I touched in last few months turned into gold but I always sell too early.

Posted by kcchongnz > 2017-04-07 20:19 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 06:02 PM | Report Abuse
On Genting, let me tell you a secret.....I actually asked ask KYY to follow me buy Genting at below $ 8.00 for the same reasons I posted here.
I though a guy like him should get some Blue Chips for once. He told me he is very bullish of the market when everyone was panicking in Nov / Dec.
He refers Genting to his assistant, don't know what happened to it.


Secret? What is so great of your "secret" that you think others here want to hear?

Let me tell you the obvious, which most people know, but surprised you don't know at all. He won't has interest in a big cap stock, Reits or whatever, like Genting for the very reasons he can make money in a zero sum game.

Don't be naive and simply reveal your so-called "secret". He probably laugh at you at your back.

Posted by stockmanmy > 2017-04-07 20:23 | Report Abuse

kc

there is always a first time for every thing . It is just the time has not arrived yet.

Posted by kcchongnz > 2017-04-07 20:24 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 06:15 PM | Report Abuse
To tell you another secret............
I actually don't have a personal valuation of stuffs I buy. I look at analysts TP as a joke.
maybe, that is my weakness and maybe because of that I sell too early....I almost always sell too early.
actually the last few months very easy to make money one.....just jump into the theme of the moment...so many shares that I touched in last few months turned into gold but I always sell too early.


"Another secret"? Almost everyone knows your "secret". You just tikam. You know nothing about investing. That is okay, but the way you ridicule others, everyone and everything they share, and who know so much more than you,of course except one whom you praise as if he is a god,is incredible, unbelievable and mind-blowing.

Posted by stockmanmy > 2017-04-07 20:43 | Report Abuse

kc

in a zero sum game. ...


what do you want to imply with that?

you know it would be fake news and defamatory if you wish to imply what I think you want to imply.

Posted by PlsGiveBonus > 2017-04-07 20:47 | Report Abuse

Super investor buy during 1998, 2008, 2017
Other investor follow
:)

Posted by stockmanmy > 2017-04-07 20:47 | Report Abuse

kc


tikam or not......as long as I make money....and I am not responsible for anyone else well being.

but tell you what.....

value investors are supposed to be prudent, supposed to be conservative, risk adverse,. You are not supposed to recommend Ace counters and Fibon.

Posted by kcchongnz > 2017-04-07 21:16 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 08:47 PM | Report Abuse
value investors are supposed to be prudent, supposed to be conservative, risk adverse,. You are not supposed to recommend Ace counters and Fibon.

Again, I never recommend you to buy Fibon, nor any other share.

Fibon's share price rose 31.22% since January 1 2017 when I first put in in my 2017 i3investor portfolio.

From 1st August 2013 when I put it in my published portfolio in i3investor, it has gone up by 159%, against the gain of 20% for Genting.

What is wrong with Fibon?

You know nothing about value investing. Absolute none. Kosong.

Let me teach you what is value investing, read here,

http://klse.i3investor.com/blogs/kcchongnz/89477.jsp


From Charles Munger,

“All intelligent investing is value investing - acquiring more than you are paying for. You must value the business in order to value the stock.”

“You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.”

Posted by stockmanmy > 2017-04-07 21:19 | Report Abuse

One more secret....I think it is a liability to ask me what is the valuation of Genting or any stock for that matter., or for me to give even if I have one.

We know what is today...we do not know what tomorrow brings. So, what valuation you want to talk about? Bull market valuation? Bear market valuation? some where in between? and if tomorrow things changes, then how?

Your job is to squeeze as much profit out of it as you can.... I have not been very good at that. My strength is in identifying stocks that look interesting and reward should out weight risk based on current trend and current conditions.

Posted by kcchongnz > 2017-04-07 21:24 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 08:43 PM | Report Abuse
kc
in a zero sum game. ...
what do you want to imply with that?
you know it would be fake news and defamatory if you wish to imply what I think you want to imply.


Umm, please tell us this "secret" of yours of what you think?

Posted by kcchongnz > 2017-04-07 21:36 | Report Abuse

Posted by stockmanmy > Apr 7, 2017 09:19 PM | Report Abuse

One more secret....

ME;ANOTHER SECRET, WALAU!

I think it is a liability to ask me what is the valuation of Genting or any stock for that matter., or for me to give even if I have one.

ME;OF COURSE IS LIABILITY TO YOU. HOW TO GIVE WHEN YOU GOT NO CLUE AT ALL?

We know what is today...we do not know what tomorrow brings. So, what valuation you want to talk about? Bull market valuation? Bear market valuation? some where in between? and if tomorrow things changes, then how?

ME; WALAU, LIKE THAT ALSO CAN?
WHAT A BUSINESS IS WORTH CAN CHANGE JUST OVERNIGHT. WALAU!
A BUSINESS CHANGES EVERYDAY, WALAU!

Your job is to squeeze as much profit out of it as you can.... I have not been very good at that. My strength is in identifying stocks that look interesting and reward should out weight risk based on current trend and current conditions.

PROFIT = PRICE - COST

HOW TO "SQUEEZE" PROFIT WHEN YOU HAVE AN UNKNOWN IN THE ABOVE EQUATION?

Posted by stockmanmy > 2017-04-07 21:41 | Report Abuse

kc


can get dozens of casino licences at net tangible value cheap enough or not?

that should be more objective than what is your valuation on XYZ compared to my valuation on XYZ.

Value investors should not recommend Ace counters and Fibon which has a $ 1 m turnover a month. Value investors are supposed to be prudent, conservative and risk adverse.

Posted by MusangK1ng > 2017-04-07 21:56 | Report Abuse

ARGUING ON THE INTERNET IS LIKE RUNNING AT THE SPECIAL OLYMPICS. EVEN IF YOU WIN , YOU ARE STILL RETARDED.