I am not about to convince you that valuations do not matter but valuations have a wide acceptable range and whilst a sense of valuations is useful it is no panacea, no guarantee for success in the stock market. A necessary but insufficient condition to justify confidence.
Too many uncertainties, too many unknowns and where to find convictions when prices go against you? How you know your valuations are right and the market valuations are wrong?
Hundreds of full time analysts in Malaysia nowadays. They are paid a salary and a full time job to analyse shares. If they cannot do a good job, what makes you think you can do a good job?
Out of 100 value investors, after one year, two years, three years, five years, ten years.........the end result of the 100 value investors will differ greatly, spanning the whole range of possibilities.
What is the evidence of any co relationship between results and knowledge of valuation methods? Between value investors and throwing of darts anyway?
Valuations matter? Really?
People have lost half their money buying steel counters at PE 8 last year, now trading at PE 3....and people have made 100% gains buying Vitrox at high PE, now PE 30 after making 100% gain.
Valuations matter? Really?
How long do you intend to hold the shares anyway? One week? One month? One year? Five years? Ten years?
Some one should do research and tell us what is the average holding period for retailers in Malaysia?
The truth is that in most cases, speculations gone wrong become long term investments. Long term investments is a result of speculations gone wrong, not an objective for most participants.
Definitely, especially among retailers, holding period in Bursa is much less than in NYSE or LSE. There are huge differences between Bursa and NYSE/ LSE.
Bursa have tried for many years already but without much success to increase participation by millennials . Bursa is still a baby boomer generation activity. Millennials are more attracted by bitcoins, by start ups, crowd fundings and newer and trendier stuffs.
Know what I think?
I think most of what people read and write about is just nonsense. More noise than good advise. I think experience is the best teacher, let them experience it themselves, what don't kill you will benefit you. I think people are smart and they should think for themselves, should be encouraged to think.
I think people should Think Different....that what the majority thinks is usually wrong and literally useless.
Very good and relevant comments qq3. Yes the end of the can u make money, not so much how elegant ur valuation is especially if it is just copy from some one book!
I am not about to convince you that valuations do not matter but valuations have a wide acceptable range and whilst a sense of valuations is useful it is no panacea, no guarantee for success in the stock market. A necessary but insufficient condition to justify confidence.
ME: NOTHING IS GUARANTEED IN INVESTING. BUT THERE ARE JUST TOO MANY EVIDENCES THAT THOSE VALUE INVESTORS WHO DO VALUATION BEFORE INVESTING IN A STOCK, DO OUTPERFORM OTHERS BY WIDE MARGINS. IT IS ALL VIGOROUS ACADEMIC RESEARCH. NOTHING JUST ON WHAT YOU SAY.
Too many uncertainties, too many unknowns and where to find convictions when prices go against you? How you know your valuations are right and the market valuations are wrong?
ME: DO YOU USE YOUR BRAIN, OR ALL THE TIME RELIES ON THE MARKET TO TELL YOU? CERTAINLY YOU ARE THE LATER. NO DOUBTS ABOUT IT. YOU HAVE NO BRAIN TO ANALYSE AND THINK FOR YOURSELF.
Hundreds of full time analysts in Malaysia nowadays. They are paid a salary and a full time job to analyse shares. If they cannot do a good job, what makes you think you can do a good job?
ME: I THINK ANALYSTS DON’T DO A GOOD JOB MORE BECAUSE OF SELF-INTEREST, RATHER THAN THEY ARE NO GOOD. I CERTAINLY BELIEVE I CAN DO A BETTER JOB. MY INVESTMENT OUTCOME HAVE PROVEN THAT. OF COURSE YOU ARE IN A DIFFERENT AND OPPOSITE CATEGORY.
Out of 100 value investors, after one year, two years, three years, five years, ten years.........the end result of the 100 value investors will differ greatly, spanning the whole range of possibilities.
ME: RESEARCH HAS SHOWN AGAIN AND AGAIN THAT VALUE INVESTORS, OVER THE LONG-TERM, OUT-PERFORMED THE MARKET, IN GENERAL.
What is the evidence of any co relationship between results and knowledge of valuation methods? Between value investors and throwing of darts anyway?
ME: THE SUCCESS RATE OF VALUE INVESTORS, TRUE VALUE INVESTORS CERTAINLY HAVE BEEN BETTER THAN THROWING DARTS, AND THOSE WHO USE PANIC MOMENT, DYNAMITE INVESTING, AND PLP INVESTING. I HAVE NOT A SINGLE DOUBT OF IT. AND IT IS NOT PURELY HERESAY, BUT VIGOROUS ACADEMIC RESEARCH.
Valuations matter? Really?
people have lost half their money buying steel counters at PE 8 last year, now trading at PE 3....and people have made 100% gains buying Vitrox at high PE, now PE 30 after making 100% gain. ME: VALUE INVESTING IS NOT ABOUT PE, AND CERTAINLY NOT ABOUT PAST PE, PRESENT PE, ONE-TIME OFF PE, BUT SOME OTHER THINGS. OF COURSE FOR PEOPLE WHO KNOW NUTS ABOUT VALUE INVESTING, THOSE WHO JUST TALK COCK, THEY JUST CAN’T FATHOM ANYTHING. EVER WONDER WHY SOME PEOPLE DOING THE SAME THING IN THE STOCK MARKET AND WHEN THEY RETIRE, EVEN WITH SOME SAVINGS FROM WORKING, DON’T EVEN HAVE RM100K TO INVEST IN THE STOCK MARKET? NOT TO SAY MAKNG ANY MONEY FROM THE STOCK MARKET.
Valuations matter? Really?
How long do you intend to hold the shares anyway? One week? One month? One year? Five years? Ten years?
ME: VALUE INVESTING IS ABOUT THE PERIOD OF HOLDING A STOCK? WHERE YOU LEARN THAT?
Some one should do research and tell us what is the average holding period for retailers in Malaysia?
ME: DOES THIS MATTER TO VALUE INVESTING?
The truth is that in most cases, speculations gone wrong become long term investments. Long term investments is a result of speculations gone wrong, not an objective for most participants.
ME: I KNOW WHAT YOU MEAN. JUST LIKE SPECULATING IN JAKS, EVERSENDAI ETC.
Definitely, especially among retailers, holding period in Bursa is much less than in NYSE or LSE. There are huge differences between Bursa and NYSE/ LSE.
ME: DOES THIS HAVE ANY RELEVANCE TO VALUE INVESTING? HOW?
Bursa have tried for many years already but without much success to increase participation by millennials . Bursa is still a baby boomer generation activity. Millennials are more attracted by bitcoins, by start ups, crowd fundings and newer and trendier stuffs.
ME: DOES IT HAVE ANY RELEVANCE TO IF VALUATION MATTERS?
Know what I think?
i think most of what people read and write about is just nonsense. More noise than good advise. I think experience is the best teacher, let them experience it themselves, what don't kill you will benefit you. I think people are smart and they should think for themselves, should be encouraged to think.
ME: I SAY THE WRITEUP HERE IS FULL OF NONSENSE, NO SUBSTANCE AT ALL. https://klse.i3investor.com/blogs/qqq3/165703.jsp NOT MY ARTICLE, I BELIEVE BECAUSE NO ONE ELSE EXCEPT THOSE RETARDS WILL SAY WHETHER VALUATION MATTERS OR NOT IS NONSENSE.
I think people should Think Different....that what the majority thinks is usually wrong and literally useless.
ME: WHAT DIFFERENTLY? IN WHAT WAYS? SO WHAT YOU THINK IS RIGHT?
do u start with the price/ valuation or do u start with what you want / like?
I think misers and losers start with price/ valuations.....and winners start with what they want / like.........
ME: FOR VALUE INVESTORS, IT DOESN'T MATTER WHERE YOU START, BECAUSE THE PRICE YOU PAY DETERMINES YOUR RETURN. IT IS GOOD TO ALSO START WITH WHAT YOU LIKE, AND THEN DO A VALUATION.
THE PROBLEM WITH MANY RETAIL INVESTORS IS THEY DO NOT BOTHER WHERE TO START, BUT JUST FOLLOW WHAT OTHERS DO, A LEMMING BEHAVIOR. SOME JUST SIMPLY BUY AND HOPE THAT THERE WILL BE A GREATER FOOL TO TAKE OVER FROM THEM IN THE END OF THE DAY, THE NEXT DAY, THE NEXT WEEK. THAT IS WHAT THE COMMENTATOR HAS BEEN DOING, AND KEEP ON TELLING OTHERS TO FOLLOW HIM TO DIE SOMEWHERE.
SOME MAY START WITH WHAT THEY LIKE, BUT THEY HAVE NO IDEA IF THE COMPANY THEY LIKE ARE SELLING EXPENSIVE. tHAT IS WHY MOST RETAIL INVESTORS LOSE MONEY.
ME: FIRST OF ALL, THE ARTICLE ABOVE IS A GREAT ARTICLE. BUT LET ME TELL YOU, YOU CAN'T UNDERSTAND WHAT THE ARTICLE IS ABOUT.
YOU DON'T EVEN KNOW THAT Vishal Khandelwal IS A GREAT VALUE INVESTOR. YOU DON'T KNOW HE DOES VALUATIONS FOR ALL STOCKS BEFORE HE BOUGHT ANY.
This is what I mean...u fake value investors, fake teachers because you read a few soft cover investing books from popular book shops, maybe a few textbooks and speeches by that Wallen the Buffalo.....no use.....lose money, still don't know why lose money.
ME: WAY BEFORE I RETIRE, I ALREADY HAVE MANY TIMES RM100K IN MY INVESTMENT ACCOUNT. OVER MANY YEARS, MY CAGR IS MORE THAN 10%. SO, PLEASE, NOT EVERYONE LIKE YOU LOST MONEY.
qualities that I look for in fund managers....compromises, flexibility, no ego, adaptable, Golden Means, zen like qualities.......the same qualities that can last forever whatever challenges the stock market throw at me....the link above is well written.
qualities that will lead the followers to holland......the same qualities shown by OTB and KC Chong.....robot like, no flexibility, no learning, no adaptability, maths teacher but no business sense, ego big enough to explode any time, ....very dangerous qualities especially in view of the fact this is already a 10 years old bull market, Trump tariffs taking the world to uncharted territories, the next crisis may not be far away.....but the cari makan sifus still got to cari makan, still need new fresh victims to replace those who got buried already.
ME: THE VALUE OF MY PORTFOLIO DID GO DOWN RECENTLY. BUT OVER SAY 10 YEARS PERIOD, MY CAGR IS STILL MORE THAN 10%. OTB HAS MADE MANY PEOPLE MADE A LOT OF MONEY. YOU HAVE O COMPARISON.
Mahathir is right in saying.....the country cannot just carry on by borrowing money and finance and gambling in the stock market.
What we need are real economy stuffs, jobs, factories and new ideas. . new services.
ME; TRUE. SO, PLEASE STOP ASKING PEOPLE TO SAILANG, MARGIN TO THE MAX IN THE STOCK MARKET.
I would also say the most important quality is Think Different. Got to Think out of the box and cannot keep repeating the KC Chong and OTB stuffs.
ME: THE PROBLEM IS YOU DON'T EVEN THINK AND HAVE NO CAPACITY TO DO SO. This is wrong Era for them.
Every Era new heroes, Too bad people do not know new Era has come until it is over and too late.....so Think Different is best advise.
lastly, I like to repeat....
do u start with the price/ valuation or do u start with what you want / like?
ME: MANY PEOPLE, YOU ARE NOT EXCLUDED, WHEREVER THEY START, THEY HAVE NO IDEA OF VALUE VERSUS PRICE.
I think misers and losers start with price/ valuations.....and winners start with what they want / like.........
ME: NEVER HEARD OF BUYING WHAT YOU LIKE MAKE YOU RICH. i KNOW YOU LIKE JAKS AND EVERSENDAI. HAVE THEY MADE YOU RICH, LIKE WHAT YOU WISH IN A WEEK, A MONTH, OR EVEN A YEAR?
KC contribute good articles.We in i3 made up our own minds.All are adults. qqq3,what do you contribute in i3?Everyday talk business sense but unable to come out with a single useful article.You are just a TIN KOSONG.
Usually when I can't explain something yet I want to prove I know better than author. I usually use some bombasatic or fuzzy words/terms to mask my ignorance. That is qqq3. Full stop. I guess, guess only using my intuition ya. Qqq3 investment result should be poorer than kc la.
at least if you sailang, u know what you are doing, very transparent.....the good, bad, the ugly. and quickly learn to deal with it...and got chance to make a difference in a short time.
Usually when I can't explain something yet I want to prove I know better than author. I usually use some bombasatic or fuzzy words/terms to mask my ignorance. That is qqq3. Full stop. I guess, guess only using my intuition ya. Qqq3 investment result should be poorer than kc la. =============
I do not know KC results but I can guess.....really.
Nobody cares about how you "know" your bank account very well, your subscribers only care about how you often give wrong buy calls at wrong timing which cause them loss a lot of money
I have very good records to show in I3. I know my bank account very well, it is growing year after year. To me, I do not bother any other comment, I will feel disappointed when my bank account is reducing. Touch wood, so far it is growing in last 5 years. To be honest, hopefully I do not need to lose money in 2018.
I come from a very poor family. My parents teach me a good lesson in my life. Do not bully people, do not tell lies in public. I believe my credibility in I3 is still very good based on my records.
I have very good records to show in I3. I know my bank account very well, it is growing year after year. To me, I do not bother any other comment, I will feel disappointed when my bank account is reducing. Touch wood, so far it is growing in last 5 years. To be honest, hopefully I do not need to lose money in 2018.
I come from a very poor family. My parents teach me a good lesson in my life. Do not bully people, do not tell lies in public. I believe my credibility in I3 is still very good based on my records.
at least if you sailang, u know what you are doing, very transparent.....the good, bad, the ugly. and quickly learn to deal with it...and got chance to make a difference in a short time.
ME: HOW COME YOU DON'T EVEN HAVE RM100K TO INVEST IN THE STOCK MARKET EVEN AFTER RETIREMENT AT 60+?
NOT EVEN WITH YOUR SAVING IN SO MANY YEARS OF WORKING?
I HAVE MANY FOLDS OF WHAT YOU CAN INVEST. HOW COME?
qqq3, the fact is that you can't even smell our fart. so why condemn us on whatever we share?
after retirement and have not much saving and still sailang? Good luck.
For us it is a distribution stage now when you are still trying to accumulate. Too late. Beware you have not enough money to last your retirement. Seriously!
Posted by Gary Siaw > Jul 20, 2018 12:32 AM | Report Abuse Yet a thoughtful and useful piece from kcchongnz.
Posted by Apabagus > Jul 21, 2018 06:37 PM | Report Abuse KC contribute good articles.We in i3 made up our own minds.All are adults. qqq3,what do you contribute in i3?Everyday talk business sense but unable to come out with a single useful article.You are just a TIN KOSONG.
Posted by cheoky > Jul 21, 2018 07:04 PM | Report Abuse Usually when I can't explain something yet I want to prove I know better than author. I usually use some bombasatic or fuzzy words/terms to mask my ignorance. That is qqq3. Full stop. I guess, guess only using my intuition ya. Qqq3 investment result should be poorer than kc la.
Thank you very much for the kind words. That keeps me motivated to share.
For the last comment, I am very sure about it. But maybe not "poorer", but way behind. That is because, yes, my portfolio gone down recently. But over long-term of 10 years, I still have double digit CAGR.
Well, I don't just simply make statement. Just goggle my portfolio which have more than 5 year record in i3investor. They are public information.
You have to show your record qqq3. But I doubt you have any public record. You only claim that you buy a stock and sold it and make so much so much. But that is only what you say. Can believe ah?
Posted by cheoky > Jul 21, 2018 07:04 PM | Report Abuse Usually when I can't explain something yet I want to prove I know better than author. I usually use some bombasatic or fuzzy words/terms to mask my ignorance. That is qqq3. Full stop. I guess, guess only using my intuition ya. Qqq3 investment result should be poorer than kc la.
Comment : Those made money from stock market are always wish to learn from others. To make the least mistake in stock market means you are better than others. Those keep on attacking people is because of inferior complex, he cannot make money and become jealous of other's success. I feel very happy for others when they make money. I wish to learn new trick from these winners.
Mr Koon bought VS through my recommendation in December 2014 at 2.33, keep for 2 years and sold for 8.00 making 243% gain. Likewise, Liihen, Latitude and Gkent.
I bought good shares like VS, Liihen, Latitude and Gkent, buy and hold for a year or more is nothing as long as the shares are good growing stocks.
Cannot afford to take out RM 100,000 to buy share in KLSE, only can afford to buy on contra basis only, how to be rich ?
Buying and holding a share > 1 year is a faked record.
Value investors will laugh at this type of low class and poor investor. He will be poor permanently.
If I bought a good growth stock, I will continue to hold it until there is no more growth and sell it. Hence I made big profit. When you buy a good stock, let profit runs is a good strategy.
I don't make groundless accusations..... those are my observations and conclusions after watching KC and OTB for some time...its their process....too many holes and too robotic.....
ME: NOT GROUNDLESS ACCUSATION? SO WHERE ARE YOUR EVIDENCES? JUST BY WATCHING? HAVE YOU SEEN ME BEFORE? I HAVE WRITTEN HUNDREDS OF ARTICLES IN I3. WHAT IS WRONG WITH MY PROCESS? ROBOTIC? PLEASE ELABORATE.
if so many holes and so robotic also can be good ...then AI will take over the market...OTB and KC are just inferior versions of AI.....
Risk assets and oil prices would likely tumble as worries about growth arise, hitting currencies of commodity-exporting countries particularly hard -- namely, the Russian ruble, Colombian peso and Malaysian ringgit -- before taking down the rest of Asia.
“Asian central banks will initially try to stem currency weakness through intervention,” Brooks said. “But then Asian central banks will step back, and in my mind, the big underperformer on a six-month horizon could be EM Asia.” https://www.bloomberg.com/news/articles/2018-07-20/currency-war-erupts... 22/07/2018 09:10 X Weak ringgit will give Malaysian export-oriented stocks an edge.
You do not need to show off? Wake up stupid, you did it again and again, and you did it now
I think you are suffering from delusional disorder, you are the one who really need to take your medicine timely
Ans : Please show me your records if you are better than me. Ans : None. Talk what ? You are not my subscriber, my subscribers made money or lost money, it is none of your business.
I do not need to show off. I care that I am at least better than you many times in term of everything. Being it a reputation, wealth, records and fame. You need to jump 10 times also cannot beat me. Sour grape, please take your medicine timely. I do not wish to visit you in Tanjong Rambutan. I will not need to reply to this liar and idiot in I3.
when I first came here I thought u were doing some thing good....until I realised when u do stock picks and recommendations....u are only interested in Ace counters, the smaller the better, the more risky the better, the less track records the better....easier for u to manipulate , maybe....specialist in small caps....
I tell you many time......hang pig head to sell dog meat is very dishonest, very misleading and very unprofessional.
u try to give yourself a conservative image in i3 in order to promote the small caps....what kind of hanging pig heads to sell dog meat is that?
I think you are a very irresponsible person for doing so....despite trying your very best to give a conservative image.
I don't like people who hang pig head to sell dog meat. Cannot ah?
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Posted by targetinvest > 2018-07-20 00:00 | Report Abuse
So can tell me wad is KPS value ?