Author: Koon Yew Yin | Publish date: Fri, 2 Dec 2016, 11:29 AM
As much as I hate to break KC Chong’s rice bowl, I need to respond to all the bad things he said about me especially in his article in i3investor under the title “Another Lesson from Gadang” in which he quoted my opinion as below.
A Super Investor: The super investor will study the case carefully and he sets a realistic target price after taking into consideration of its 40.7 sen EPS, the bonus shares, bonus warrants and its future profit growth in the construction business. Moreover, Gadang was awarded the contract to develop 24.5 acres of Kwasa Land within 20 years. Although property market is currently not so good, Gadang did not pay for the land. Gadang can wait while the land value appreciates. Can you imagine how much the land appreciates in 10 or 20 years?
All regular readers would know that I wrote this as soon as I saw Gadang’s annual profit of 40.7 sen per share.
All regular readers would also know that I openly wrote to advise shareholders to dump their holdings before I started to sell when I saw its 1st quarter EPS of 5sen. Even my wife and relatives scolded me for telling the whole world to sell Gadang before they could sell.
I told them that I can afford to lose some money but not all these small investors. Moreover, my recommendation which was based on its annual EPS of 40.7 sen. might have misled many people and it was only right to tell them to sell first at a better price.
Why KC Chong wants to say bad things about me?
He wants to show that I am not an accountant and investors should follow his teaching. He is selling his teaching FA program as show below his quote:
“For the record, I have been right for every of the stocks mentioned there written 4 years ago.
FA practitioners are not stupid. Financial statement analysis is very useful as it is the language of business, and FA is more intuitive than any “Golden rule”, in my opinion.
That is why I have been advocating FA all the time in a public forum like i3investor. I have been promoting my course in FA in i3investor all the time.
For anyone is convinced and wishing to learn FA in a structured manner to avoid any pitfall in investing, you may contact me at ckc13invest@gmail.com”
As much as I do not wish to break his rice bowl, I must tell you that about 4 years ago, I engaged him to look after my Rm 10 million account with CIMB. I am not sure what was the agreed fees for his work.
He started off by selling all my Latitude Tree and Lii Hen and bought Homeritz. He provided a complete financial analysis of all the furniture companies such as Latitude, Lii Hen, Poh Huat, Hevea and Homeritz.
He considered Homeritz was the best because it had the best return of equity.
As all investors know Latitude went up from Rm 1.00 to above Rm 8.00 within 30 months and Lii Hen went up more than 500% and it is still going up because 100% of its products are exported in US$.
I sacked him because he has no business sense at all. I am not telling you a fairy tale because many people in CIMB know this episode.
My Comment: Kantoi lah kc chong! Now the whole world knows kc chong's beef with Mr Koon. Looks like Mr Koon hurt kc's pride for sacking him as a money manager!
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83 comment(s).Last comment by paperplane2016 2016-12-04 01:37
I tasted my first Wagyu beef...many thanks to Ah Koon and followed him buy Canone, also lost 21.84% of my capital...if I belanja my family..can eat wagyu beef every lunch hour
Posted by CharlesT > Dec 2, 2016 12:23 PM | Report Abuse
If anybody followed his tips to buy Xinquan at ard Rm1.50+ after eating fee wagyu beef in Meru few years ago, then his loss is 90%+
I dun deny this cud be his strategy. Do u think his followers are all stupid? If they din't profit from his teaching and making monies do they keep on supporting him? My opinion is most if not all his followers hv good experienced in their investment by applying his methodology.
Posted by DontPipemyPimp > Dec 2, 2016 11:59 AM | Report Abuse
He made good money from managing funds as well as teaching course. He also planned his game properly by giving free advice for years and started to charge for course.
Once he has few people to help him to do research, he further monetises by creating his own funds and charging fees to manage it (with the help of students who look out for great undervalued stocks as he alone cannot screen every stocks in the world).
He is a living example of how online business works.
1. You give good and niche advice for free 2. Once you have a number of followers, you monetise them by selling them products related to your knowledge (they will buy it cause they trust you) 3. Profit
Basically, provide advice > readers trust him > sell them his products > profit.
On top of that, he also does what other speakers in the market does, by flying to Malaysia every once in a while and organises talks and meetup. True enough, many people attended. He did all this so well like how the other financial market speakers did it.
Soon he will be doing it to other countries and slowly bringing it around to Singapore etc.
When KYY reveal some reader ic here he commit suicide after that. Now KC Chong turn.... i wonder if kcchong will suicide too or he will fight back. Shall wait for the next episod" KC CHONG vs KYY". Stay tune.
Ah Koon already driven few to commit suicide....is Ah Chong his next prize?
Posted by Whey Whey > Dec 2, 2016 01:04 PM | Report Abuse
When KYY reveal some reader ic here he commit suicide after that. Now KC Chong turn.... i wonder if kcchong will suicide too or he will fight back. Shall wait for the next episod" KC CHONG vs KYY". Stay tune.
Mr Koon, a billionaire, a successful man. He can be magnanimous and rise above the pettiness.. why the intent to be so vengeful and destructive? to what benefit except own cockiness and arrogance. time to sit back and reflect.
This is not first time to have war between the 2, empty tong articles by KC were interesting to read.
Posted by Whey Whey > Dec 2, 2016 01:04 PM | Report Abuse When KYY reveal some reader ic here he commit suicide after that. Now KC Chong turn.... i wonder if kcchong will suicide too or he will fight back. Shall wait for the next episod" KC CHONG vs KYY". Stay tune.
I think discharge a boutique fund manager service is nothing to shout about. To use the word "SACK" may be too much. When a fund manager sees his client "Perangai Angin", after a short while, I doubt he will manage his money in longer term. Who knows KC Chong may discharged himself, We got to wait for KC Chong side of story.
KC please take note of this kurang ajar comment. Next time if he asks you any question, just remind him of what he said about you
Posted by paperplane2016 > Dec 2, 2016 12:15 PM | Report Abuse
he is no body in front of KYY. KYY billionaire, dia ada apa? If he is billionaire, wonder why he still charge ppl for training. Must well give free advise, ideas like KYY
Forget and forgive. Let's not harp on past and rotten issues. New idea and new knowledge are passed on endlessly. KC today is not KC some 4 long years ago....He could be sharper and more potent
you all just monitor, currently the man didnt mention or suggest any stock to buy, later when some stock run out he will immediately jump in ask you to buy.
Please allow me say something here. Could both of you have a competition openly? I would like suggest each of you pick 5 counters, start on 1 Jan 2017 and finished on 31 Mar 2017. Who gain more profit in that quarter, who is winner. I guess this is the most effective way to convince reader that your way is work.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by Flintstones > 2016-12-02 11:48 | Report Abuse
Author: Koon Yew Yin | Publish date: Fri, 2 Dec 2016, 11:29 AM As much as I hate to break KC Chong’s rice bowl, I need to respond to all the bad things he said about me especially in his article in i3investor under the title “Another Lesson from Gadang” in which he quoted my opinion as below. A Super Investor: The super investor will study the case carefully and he sets a realistic target price after taking into consideration of its 40.7 sen EPS, the bonus shares, bonus warrants and its future profit growth in the construction business. Moreover, Gadang was awarded the contract to develop 24.5 acres of Kwasa Land within 20 years. Although property market is currently not so good, Gadang did not pay for the land. Gadang can wait while the land value appreciates. Can you imagine how much the land appreciates in 10 or 20 years? All regular readers would know that I wrote this as soon as I saw Gadang’s annual profit of 40.7 sen per share. All regular readers would also know that I openly wrote to advise shareholders to dump their holdings before I started to sell when I saw its 1st quarter EPS of 5sen. Even my wife and relatives scolded me for telling the whole world to sell Gadang before they could sell. I told them that I can afford to lose some money but not all these small investors. Moreover, my recommendation which was based on its annual EPS of 40.7 sen. might have misled many people and it was only right to tell them to sell first at a better price. Why KC Chong wants to say bad things about me? He wants to show that I am not an accountant and investors should follow his teaching. He is selling his teaching FA program as show below his quote: “For the record, I have been right for every of the stocks mentioned there written 4 years ago. FA practitioners are not stupid. Financial statement analysis is very useful as it is the language of business, and FA is more intuitive than any “Golden rule”, in my opinion. That is why I have been advocating FA all the time in a public forum like i3investor. I have been promoting my course in FA in i3investor all the time. For anyone is convinced and wishing to learn FA in a structured manner to avoid any pitfall in investing, you may contact me at ckc13invest@gmail.com” As much as I do not wish to break his rice bowl, I must tell you that about 4 years ago, I engaged him to look after my Rm 10 million account with CIMB. I am not sure what was the agreed fees for his work. He started off by selling all my Latitude Tree and Lii Hen and bought Homeritz. He provided a complete financial analysis of all the furniture companies such as Latitude, Lii Hen, Poh Huat, Hevea and Homeritz. He considered Homeritz was the best because it had the best return of equity. As all investors know Latitude went up from Rm 1.00 to above Rm 8.00 within 30 months and Lii Hen went up more than 500% and it is still going up because 100% of its products are exported in US$. I sacked him because he has no business sense at all. I am not telling you a fairy tale because many people in CIMB know this episode. My Comment: Kantoi lah kc chong! Now the whole world knows kc chong's beef with Mr Koon. Looks like Mr Koon hurt kc's pride for sacking him as a money manager!