Posted by Icon8888 > 2019-01-20 16:55 | Report Abuse

totally agree with KC

I also found a lot of Long Number's things deviant

that is why I seldom visit

Posted by lizi > 2019-01-20 17:15 | Report Abuse

small/mid cap stock return no doubt can be far superior, but what if you are wrong? the damage can be devastating too....not many can be small/mid cap specialist...i believe "sometimes win big, sometimes lose back to market" is very common scenario for those "not so skillful" group of trader/investor in small/mid cap space....

Posted by BumbleBee > 2019-01-20 17:21 | Report Abuse

agree with KC

Posted by lizi > 2019-01-20 17:33 | Report Abuse

to mitigate risk in small/mid cap space, either discipline in cutloss or diversify....diversify allow more chance to find multi bagger....dr neoh say upside is infinite while downside is finite...but again, some may have premature ejaculation syndome...hahaha....no chance to enjoy infinite upside....able to pick the right stock is one thing, ability to hold it long enough is another thing....

haiz....investing is so troublesome...

Posted by Icon8888 > 2019-01-20 17:36 | Report Abuse

Lizi we are pondering about the same issue

Wait for my next article

Posted by Goh Kim Hock > 2019-01-20 18:13 | Report Abuse

I prefer non-loss making small to mid caps companies. Their earnings must not be volatile.

Posted by qqq3 > 2019-01-20 18:28 | Report Abuse

me? what I wish for my 20+ son? I wish he be like Philips the Long...only go with the best and very very low portfolio turnover. Having the attitude that 99% of the stuffs are rubbish is already half way to be a winner. Next is actually put some money in the market.

only good management stocks
...very low turnover of portfolio
....learn to say NO....
.and if u want to make a real difference, have not more than 5 stocks at a time.



with the 4 principles
success over 10- 20 years is practically guaranteed....

I think Philip the Long principles and the above principles can be copied and repeatable by others, by members of the public.

Posted by qqq3 > 2019-01-20 18:32 |

Post removed.Why?

Posted by qqq3 > 2019-01-20 18:35 | Report Abuse

https://klse.i3investor.com/blogs/qqq3/190121.jsp

Posted by qqq3 > 2019-01-20 18:52 | Report Abuse

1 billion grow to 10 billion is a 10 bagger, my dear........

less than $ 1 billion?

not enough track record, uncertainties...and put it bluntly, no different from shooting in the dark for long term....

for trading can la.....for my 20+ son, no way.....for wealth building? I think they are better ways....

Posted by qqq3 > 2019-01-20 19:00 | Report Abuse

If u don't follow Philips the Long method, what happens is basically win and lose back win and lose back forever ....unless we are talking about a skillful trader like me lah......

U really need to be invested in the 1 % of the stocks that will keep growing nicely and participate in their growth if u want to built wealth........

Posted by Sslee > 2019-01-20 19:07 | Report Abuse

Dear all,
In i3 we has this shameless “You-know-Who” without any successful investment philosophy and who had promoted with sailang, margin finance and X factor on questionable CEO/management capability company like JAKS (Most likely top 10% from the bottom) and admitted he himself is just a chicken trader, trading on those what he term as rubbish stocks to earn a living: “me? what I wish for my 20+ son? I wish he be like Philips the Long...only go with the best and very very low portfolio turnover. Having the attitude that 99% of the stuffs are rubbish is already half way to be a winner. Next is actually put some money in the market.”

Thank god “You-Know-Who” did not use his true name as user ID or his true name in his profile. Imagine if his 20+ son will to read all his blogs and comments, what will he think of his father behavior?

Thank you

Posted by qqq3 > 2019-01-20 19:17 | Report Abuse

Philip the Long has some very good points, very good habits.

Unless one is retired like me, there is no way for a young man who is already engaged in a full time job to participate in the market unless he is focused on the 1% that are the best...and learn to say NO to all the others.....

I think it makes sense that in America, people have given up on stock market and direct participation and instead opt for ETFs and mutual funds....it makes sense.

Posted by qqq3 > 2019-01-20 19:18 | Report Abuse

sslee...u are just a novice I have no time for u....also...u are not my son....

Posted by qqq3 > 2019-01-20 19:23 | Report Abuse

I think it makes sense that in America, people have given up on stock market and direct participation and instead opt for ETFs and mutual funds....it makes sense.

That is also the trend with our younger generation. It all makes sense...

kc fighting a losing battle....business not so good as before, kc? Its also a generational shift.....

Posted by qqq3 > 2019-01-20 19:36 | Report Abuse

ss

both u and kc belong to the mad house if u keep bringing up Jaks and Sendai.....

soon, they will bring u both to mental hospital.

Posted by qqq3 > 2019-01-20 19:59 | Report Abuse

Singapore is trying various measures to get more young people in stock market...with no sucess.

Najib tried it with stamp duty exemptions and research grants for small caps...all to horrible results for 2018.....

Posted by Flintstones > 2019-01-20 21:34 | Report Abuse

KC, didnt your value investing picks work only for the period of 2013-2016? I remember ever since the market's tide become higher, you have a harder time finding winners.

Posted by Flintstones > 2019-01-20 21:43 | Report Abuse

Sometimes I find a few high profile i3 theory crafters taking an opinion and beliefs too seriously. An opinion is not a truth where you need to prove it. Everybody has their own system of beliefs in approaching the stock market. Long numbers guy has his own. KC has his own. I have my own. However, the theory crafters do not have an open mind to accept that there are limitless opportunities in the market which could be reached through different ways or different mental models.

Posted by Flintstones > 2019-01-20 21:46 | Report Abuse

Just like Renaissance Technologies in the US which is arguably the best performing hedge fund in thr history of mankind. It does not fit into any i3 members strategy. High frequency trading and complex algorithms that will even put KC extrapolation maths to shame. What if Renaissance Technologies did not use fundamental analysis at all in their investment process? Are you going to prove it is wrong? Why bother?

Posted by Sslee > 2019-01-20 21:46 | Report Abuse

Dear all,
My late father:
“我的爷爷，我的爸爸来自于中国福建省。那是一个政治斗争，社会动荡，民不聊生的年代。我的爷爷只好带着爸爸远离家乡，来到陌生的马来西亚找生活。
我记得小时候，我们全家大小节衣缩食，过着节俭的生活，因为爸爸要把储到的钱寄给家乡的姑姑。”

My late father is a filial piety son, a caring brother, a good/great father to his children and a responsible husband to my mum. He is our discipline master, our role model in hardworking, discipline, integrity, family value, gratefulness, love, selflessness, devotion, compassion, and sacrifice.

Throughout his adult life he had save whatever he earned and single handedly support his father opium habit, his sister in china and our education till university level. We owe so much to our late father sacrifice and luckily we were able to repay our debt by doing our part in accompanying our parent for sight-seeing around China, visiting our China aunt, touring Hong Kong, Macau, Taiwan and Korea. My late father, we miss you, grateful to you and will always remember you for your teaching and scarified in order for us to have a better life.

Thank you.
P/S: The lord of queer is zero compare to my great late father

Posted by Flintstones > 2019-01-20 21:49 | Report Abuse

Sslee, why dont you grow up and stop the personal attacks on other i3 mrmbers? I dont agree with many statements made by qqq3 but not once I attacked his logic. The only person I attack on i3 is CP Teh. Be a wise man.

Posted by lazycat > 2019-01-20 21:57 | Report Abuse

everyone is entitled to their own opinions.
i respect that , it does not affect me , it does not bother me

Posted by Sslee > 2019-01-20 22:28 | Report Abuse

Dear Flinstones,
Your advice noted with thanks. I derive no pleasure and in fact feel sad that despite my attempt to save his soul and hitting hard at his conscious and even using reverse psychology of subjecting him to shame and turning the table on him by subjecting him to troll or fact on what damage he had done to those chasing high in JAKS and SENDAI as oppose to what he himself trolling KC and OTB with inflammatory and digressive, extraneous, or off-topic slanders.

I admit my attempt is futile and he will remain as what he is with no remorse and shame. He is now no-more my problems, as from now, I will not read any comments or blogs of “You-Know-Who”. He is in my past and I should leave the past in the past. He is now an invisible to me. I shall grow wise and move on

Thank you.

Posted by qqq3 > 2019-01-20 22:29 | Report Abuse

crazy ss can be uncrazy ss so easy meh?

Posted by kcchongnz > 2019-01-20 22:37 | Report Abuse

Posted by Flintstones > Jan 20, 2019 09:34 PM | Report Abuse
KC, didnt your value investing picks work only for the period of 2013-2016? I remember ever since the market's tide become higher, you have a harder time finding winners.


Those were my published portfolios in i3investor. They worked very well from 2013 to 2017.

Since 2016, I never share any more stock pick in i3investor any more.

I do have my stock pick services which were private. They worked very well too in 2016 and 2017.

During the good time in 2016 and 2017, the portfolios returned many times more than those of the broad market.

In 2018, my stocks did not do well. But how many investors did well in 2018? The stock pick competition in i3investor is a good guide.

Nevertheless, the portfolio of 8 stocks I picked for 2018 as at today has turned positive now.

I have written a number of articles published in i3investor describing the above.

You started to criticize vigorously as soon as you see kcchongnz's name there, without even reading them.

Posted by kcchongnz > 2019-01-20 22:53 | Report Abuse

The above is purely for the purpose of propagating value investing, which I believe very strongly is the way to go for most people. I have never boasted how rich I am.

Value investing, if you really care to sit down, read about them, have deep thought about them, is very plausible, logical.

Investing, I mean really investing, one has to understand the business as investing in a stock is akin to invest in part of a business, and that must be through understand some simple accounting in understanding the financial reports, and some simple valuations, besides the story part of it. No other better way.

There is nothing about complex maths and logarithms and Greeks. Do you find me using any of them?

Posted by kcchongnz > 2019-01-20 22:59 | Report Abuse

I teach those interested in learning how to read, interpret and analyse financial statements and some valuation techniques. They are my passion now. I enjoy it. As I have said, this knowledge is utmost important to avoid the pitfalls in investing and getting better return over the long term from investing in the stock market.

Yes, I do charge a nominal fee, for the effort I put in.

Why do people against charging fee for acquiring something very useful in their personal finance and investing? Are those charging some fee for doing some work thieves, and robbers.

Posted by qqq3 > 2019-01-21 10:44 | Report Abuse

only 3 ways to make money out of stock market

1 greater fool theory
2 benefit from changing landscape
3 participate in the growth of excellent companies, as the Bursa is
originally intended.

1...u are already a fool when u key in your order but a greater fool comes along
2...this tests all your intellectual prowess, knowledge, experience
3..for genuine long term investors, they have their own tools.


But value investors is an over glorified tool. For one, I believe markets are pretty efficient in valuing stuffs. Millions of factors involved in valuations...some known, some unknown, some knowable, some unknowable.

That is why I say for genuine long term investors, better stick with the larger caps with enough track record, reputation, public information where informed judgement can be made....the rest..more of luck, and syndicates , sentiments etc etc.

Posted by supersaiyan3 > 2019-01-21 14:11 | Report Abuse

Good sharing, Mr Chong.

It crossed my mind the differences between talks of fundamentals and economics.

Our differences in opinion in Favco demonstrated the idea in some way.

Also, a lot of examples, when you think its fundamentals good but eventually fail, it’s actually deteriorating economics that kills it more than often.

Posted by qqq3 > 2019-01-21 15:18 | Report Abuse

small ships sink easily..... of course the ride is also rough and exciting

Posted by stockraider > 2019-01-21 16:32 | Report Abuse

RAIDER COMMENT IF MKT SO EFFICIENT, AS WHAT BELOW SAID, WHY WASTE TIME INVESTING LEH ??


"But value investors is an over glorified tool. For one, I believe markets are pretty efficient in valuing stuffs. Millions of factors involved in valuations...some known, some unknown, some knowable, some unknowable.

That is why I say for genuine long term investors, better stick with the larger caps with enough track record, reputation, public information where informed judgement can be made....the rest..more of luck, and syndicates , sentiments etc etc." !

ACTUALLY REAL MONIES ARE MAKE AS A SAVVY INVESTOR, WHEN U FIND POCKETS OR AREA OF MKT VALUATION WHERE IT IS OVERRLY WRONG, AND U TAKE ACTION TO CAPITALISE ON THIS OPPORTUNITY MAH...!!

Posted by 3iii > 2019-01-22 09:47 | Report Abuse

>>>>
Of late I was amazed to read someone’s comment in i3investor that 99% of the stocks listed in Bursa are rubbish stocks. I thought I even read that the figure is 99.9%. With less than a thousand stocks listed in Bursa, that would mean less than 10 stocks in Bursa are investible, and the rest are rubbish and anybody who has invested in them should prepare to burn big holes in their pockets.
>>>>


Actually, how you look at the stock market is also dependent on how you frame your thinking.

For example, if you only wish to invest in great companies (Buffett's definition), you will find very few in any stock markets.

In Bursa, probably less than 20.

How many companies you wish to be invested in at any time? < 10

Posted by 3iii > 2019-01-22 10:04 |

Post removed.Why?

Posted by qqq3 > 2019-01-22 10:27 | Report Abuse

only 3 ways to make money out of stock market

1 greater fool theory
2 benefit from changing landscape
3 participate in the growth of excellent companies, as the Bursa is
originally intended.

value investors say they make money by arbitraging their valuations vs the market valuations......really meh? so easy one ah?

what about the history, the reputation and all the millions of other factors of the investee

what about the character, habits and practises of the practitioner?

what about the efficient market theory?

if there is a difference between their personal valuations vs the market valuations...who is right who is wrong also don't know yet, only time will tell......but I know freshies have stronger opinions than old hands.......

Posted by qqq3 > 2019-01-22 10:32 | Report Abuse

only 3 ways to make money out of stock market

1 greater fool theory
2 benefit from changing landscape
3 participate in the growth of excellent companies, as the Bursa is
originally intended.

value investors say they make money by arbitraging their valuations vs the market valuations......really meh? so easy one ah?

what about the history, the reputation and all the millions of other factors of the investee

what about the character, habits and practises of the practitioner?

what about the efficient market theory?

if there is a difference between their personal valuations vs the market valuations...who is right who is wrong also don't know yet, only time will tell......but I know freshies have stronger opinions than old hands.......

and so, I support Icon's call that Wallen Bufalo is dead in the water in Malaysia., together with that Big Ben....


easier to make money from 2 and 3 above....not from 1 above.....

Posted by stockraider > 2019-01-22 11:24 | Report Abuse

Value investor make monies by taking advantage of fools thus cover ur point 1 to 3 mah.....!!

Posted by qqq3 > Jan 22, 2019 10:32 AM | Report Abuse

only 3 ways to make money out of stock market

1 greater fool theory
2 benefit from changing landscape
3 participate in the growth of excellent companies, as the Bursa is
originally intended.

value investors say they make money by arbitraging their valuations vs the market valuations......really meh? so easy one ah?

what about the history, the reputation and all the millions of other factors of the investee

what about the character, habits and practises of the practitioner?

what about the efficient market theory?

if there is a difference between their personal valuations vs the market valuations...who is right who is wrong also don't know yet, only time will tell......but I know freshies have stronger opinions than old hands.......

and so, I support Icon's call that Wallen Bufalo is dead in the water in Malaysia., together with that Big Ben....


easier to make money from 2 and 3 above....not from 1 above.....

Posted by 3iii > 2019-01-22 11:54 | Report Abuse

>>>>
qqq3 only 3 ways to make money out of stock market

1 greater fool theory
2 benefit from changing landscape
3 participate in the growth of excellent companies, as the Bursa is
originally intended.

>>>>



There are only 2 ways for me to make money in the market:

1. Participating in the long term growth of excellent companies.

2. BFS, STS (Greater Fool Theory).

Posted by kcchongnz > 2019-01-23 22:26 | Report Abuse

When asked how he could achieve 50% a year with small sums, Warren Buffett said,

“You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.”

Posted by qqq3 > 2019-01-23 23:11 |

Post removed.Why?

Posted by qqq3 > 2019-01-23 23:17 | Report Abuse

for a start up, for a mesdaq, 9 out of 10 eventually failed....how should the public handle it? They can't.

For the Softbanks, the specialists, the huge funds, they have privileged assess, privileged information, even they have to play the law of averages, and better screening, and they have the fund to do it....

For the public? for your students? Its all a dream, a delusion....

Posted by qqq3 > 2019-01-23 23:44 |

Post removed.Why?

Posted by stockraider > 2019-01-23 23:49 | Report Abuse

Rubbish comment by qqq loh....!!

Below is the result if u invest properly mah...!!

WARREN BUFFETT: Yes. Volatility is not a measure of risk.

And the problem is that the people who have written and taught about volatility do not know how to measure — or, I mean, taught about risk — do not know how to measure risk.

And the nice thing about beta, which is a measure of volatility, is that it’s nice and mathematical and wrong in terms of measuring risk. It’s a measure of volatility, but past volatility does not determine the risk of investing.

I mean, actually, take it with farmland. Here in 1980, or in the early 1980s, farms that sold for $2,000 an acre went to $600 an acre. I bought one of them when the banking and farm crash took place.

And the beta of farms shot way up. And, according to standard economic theory or market theory, I was buying a much more risky asset at $600 an acre than the same farm was at 2,000 an acre.

Now, people, because farmland doesn’t trade often and prices don’t get recorded, you know, they would regard that as nonsense, that my purchase at $600 an acre of the same farm that sold for 2,000 an acre a few years ago was riskier.

But in stocks, because the prices jiggle around every minute, and because it lets the people who teach finance use the mathematics they’ve learned, they have — in effect, they would explain this a way a little more technically — but they have, in effect, translated volatility into all kinds of — past volatility — in terms of all kinds of measures of risk.

And it’s nonsense. Risk comes from the nature of certain kinds of businesses. It can be risky to be in some businesses just by the simple economics of the type of business you’re in, and it comes from not knowing what you’re doing.

And, you know, if you understand the economics of the business in which you are engaged, and you know the people with whom you’re doing business, and you know the price you pay is sensible, you don’t run any real risk.

And I don’t think Charlie and I — certainly Berkshire — I don’t think we’ve ever had a permanent loss in marketable securities that was, what, 1 percent, maybe, half a percent of net worth.

I made a terrible mistake in buying Dexter Shoe, which cost us significantly more than 1 percent of net worth where I bought an entire business then.

But I was wrong about the business. It had nothing to do with the volatility of shoe prices or leather or anything else. It just was wrong.

But in terms of marketable securities, I cannot recall a case where we’ve lost that kind of — I mean, we’ve done a lot of things in things — in securities — that had a very high beta. We’ve dealt with a lot of things in securities that had a low beta.

It’s just the whole development of volatility as a measure of risk, it has really occurred in my lifetime. And it’s been very useful for people who wanted a career in teaching, but it is not — we’ve never found a way for it to be useful to us.


Posted by qqq3 > Jan 23, 2019 11:44 PM | Report Abuse

, even i3 OTB has never bought a single share that does not eventually collapse......and that is the classical definition of greater fool theory. What value investing u talking about? Value investing does not work. Period.

Posted by qqq3 > 2019-01-23 23:57 | Report Abuse

stockraider > Jan 23, 2019 11:49 PM | Report Abuse

Rubbish comment by qqq loh....!!
=========

Warren Bufett play with well managed companies, u play with Insas.....big difference.....raid.

Posted by kcchongnz > 2019-01-24 08:42 | Report Abuse

Posted by qqq3 > Jan 23, 2019 11:11 PM | Report Abuse
to find those little anomalies....more likely for the freshies, they can find an endless supply of China hustles, Insas, rubbish companies, rubbish CEOs, small and mid caps in various stages of pump and dump, even i3 OTB has never bought a single share that does not eventually collapse......


I think those "freshies" are much better than you in the stock market. They won't buy those stocks with the characteristics of the companies and their CEOs as described above.

Think about Jaks and Sendai which have been described by you as having business sense, great CEOs, and you have been the greatest promoter for them in the last couple of years, with your panic moment, dynamite investing, sailang and margin finance to the public and newbies in i3investor, and nothing else except recently when you abandoned the hands which feed you.

Yes, you talked nothing else except margin and sailang on Jaks and Sendai the last two years, enticing the public to buy your "pumped and dumped" stocks, these two.

Posted by Icon8888 > 2019-01-24 08:43 | Report Abuse

Good morning KC

Posted by kcchongnz > 2019-01-24 08:45 | Report Abuse

Good morning icon. Sprang my shoulder last night and can't play golf this morning. Just have some fun here.

Posted by qqq3 > 2019-01-24 10:35 | Report Abuse

Jaks and Sendai?

jaks and Sendai were good trading stocks in their time....I am a trader....What do u expect?

I am just saying , for most people, for the general public, it is not suitable to hunt among the rubbish when looking for stocks to invest....no need la....Having the attitude that 99% of the Bursa is rubbish is half of a winner already...The rest is just to actually buy some shares.

Luckily for me, Philip the Long appeared in this forum.....He is every thing I have been writing about for the last 3 years.

Posted by qqq3 > 2019-01-24 10:44 | Report Abuse

99% of the shares are only suitable for trading....forget about your Bufulology...its just an illusion....unless and until u look for the best ......the 1%...the rest.....just trade la......

Posted by kcchongnz > 2019-01-24 10:48 | Report Abuse

Posted by qqq3 > Jan 23, 2019 11:44 PM | Report Abuse
, even i3 OTB has never bought a single share that does not eventually collapse......and that is the classical definition of greater fool theory. What value investing u talking about? Value investing does not work. Period.

Have you ever provided any evidence that value investing doesn't work? Just because value investing also lose money last year, you conclude that it doesn't work?

How did you mange to become an "accountant"?

You OTB here OTB there even though he never even respond to your personal attack for months already.

In the last couple of years, you talked about nothing else except sailang and margin jaks and Sendai, panic moment, dynamic investing and all those nonsense.

You brag about buying this stock and then them for a couple of sen profit a few days later, and encouraged people to buy high and aimed for higher price to sell. Wasn't that the greater fool theory.

How Jaks and Sendai collapsed from RM1.80+ and RM1.40+ to only 50-60sen. You better than OTB? Common, give me a break!