😅🤣😜

Please do not compare to WB. WB is going all in with all he has in Berkshire Hathaway and taking $100,000 salary per year. He doesn't charge fees based on Book Value while owning 38% of Berkshire. Huge difference!

His son is also a director of CDAM. I think it is a dynasty in the making. Peasants must be thinking there will be forever prosperity.😂😂

@dumbMoney - one more fake news...You are the conductor of all these chaos. All other myths already busted.

Good luck....my poor dumbMoney.

The magic number they are working on is 38%, same like WB. 😂😂

Since their holding period is till eternity....

For now, they acted like a buyer of last resort.....swallow up all the desperate shareholders who want to exit at a discounts. They also design great plans to eliminate COL as a competition to buy more at discounts.

😎

@fairplay. Congrats. You're the awaken lion now. 🦁. Public Enemy #9

Stockraider name must be put up there as #7, I still can accommodate as #8......in case got more, no problem, I can let them jump Q

Oh my poor dumbMoney...I am so soli.. Wat hv they done to u?

I think so....the slide sounded something like this.....Item 7 Winding up - 20% shareholding limit blah blah....he put up 6 names public enemy .... then blah blah.....Key Question In a winding up scenario, what happens to the proceeds received? Reinvest?

*request him to say sorry

Back to more serious stuff posted by dumbMoney. The fund manager is waiting for a big bear market to visit our Boleh land. So he thinks with 67% cash, he can double or tripple that. Mana tau - our market x hidup x mati....he just caught with cash for a long time. Finally Covid 19 had given him some opportunities to put his cash to work. If he say this sorry, I think I made a wrong call...everybody will say, it's okay, shits happen, let's move on. He did the opposite.

Saying sorry is very hard thing for him. That is why my #1 personal agenda is to say sorry.😂😂

OMG! I don't want to be No1, Can I be #7, since first 6 already taken?

007 is sounds a lot sexier 😂😂
>>>>>>>>
With Deep Regrets
I hereby inform you that you have now become Imaginary Public Enemy No. 1 🤣

Funny eh --- we keep saying iCAP won't be closed down, share price keep staying so steady. Whole market today losers to winners - 7 to 1

Best way to fix iCap we keep quarreling 😎😂😂

Lai yah Lai yah....

Malaysian can, iCap cannot cox TTB said if you are not a shareholder, why ka ka jiao jiao?

>>>>>>>>>>>>>>
are you saying Malaysia very busybody?, no share, no land in Gaza go kacau kacau?

"maybe berkshire hathaway. since you claim you own it from day one, thats 270% return as of now." I said this? Master pusing betul....

Why keep asking me load or unload? Depend on my mood lo...may be keep 1 share eh....so that dun wan people said I bz body....no share also kacau kacau

It's Pavlov's Theory.

@dumbMoney. Correct, you didn't but some how perhaps being brainwashed for too long, reading iCAP newsletters for too long, it ingrained in my brain. It's auto triggered when the word COL appeared. Perhaps it's the same to many others faithful followers.

It was very difficult to illustrate various models of dividend vs SBB without a spreadsheet. dumbMoney merely doing readers a favor to share that. After studied his spreadsheet, I just posted 1 scenario in full text because it was easier for people to read without the need to go for any external link. I posted no link and now being accused for using external link to fish contact? I said yesterday, we are even now. I have vented my air out. Move on to debate policy rationally. I can, but can iCAP can? Please remove the conspiracy theory slide out in the roadshow and don't mention this at all during AGM. Let's go for a boxing fight, fight like a man -- no legs allowed please.

The first person I attacked was dumbMoney when I appeared on this forum. Going against him all the way because I believe his has bad motive to close down iCAP. Then I realized that the more I dug, the things not what I believed. It's because I was subconsciously being brainwashed that SSB was engineered by the white masters. Probably they have proposed but never forcefully pushed the fund manager. Then I believe I was going against that just because of that. Then I dug further, the fund manager used private clients money to buy shares.....when it was very cheap while iCAP holding a lot cash. It's double standards. Then the fund manager organized road show and started to put up 3 additional new names as public enemy #1 to reinforce his conspiracy and hate theory they have recruited new suicide bombers.

We should be more matured....debate policy based on merits. Why used such a low tactics to punch below the belt?

Scold me all you want. The jury is out there.

Yeah - buy more iCAP shares with his private clients money. It looks like a SBB, walk like a SBB, quack like a SBB but it's not SBB. Genius. I think the environment is getting too hot. My next post will be a lighter one. Cease fire.....1 day peace.

Should I still rate iCAP governance A+ ?

Fish shareholders contact for personal agenda???....what an insult...Anyhow, I have published the 3 things I hope to see changes, the so called personal agenda. Also please look into the shareholdings information. We are even now. 😂😂

Some small guys lose money way faster investing themselves than putting money in managed funds or EPF.
What is worst is they got scammed.

Most logical is to put an Index fund and leave it there without touching it. There is an index fund called FBMKLCI-EA, they track KLCI and also pay dividend very regularly. Even though KLCI lost about 20% but the cumulative dividend is about 35-40% for past 10 years, there is a nett gain but of course teruk jugak lah.

So whenever they are stumbled upon gods-big or small, they will grab and hang on to them religiously.

Nothing wrong with the fund manager actually except he is getting very arrogant and picking fights every where and offended a lot of people. I felt so bad when he trashed his subscribers' by publishing their letters as if it is a naked public canning. People write to you in private, why reply in public? He just make more enemies faster thank making friends. Now there is an uprising. But he is getting more paranoid because he keep thing there are white masters behind it.

My advice to him is go to ancestor hall and reflect.

“Don't do unto others what you don't want done unto you.”
Confucius

My apology to @Income. The 3 are not referring him. The 3 are 3i, John and patient investor. ICap subscribers are not allowed to do copy and paste. If you see John's post on iCap here, they are reproduced in exact words without a single mistake. He has the ori copy of ICAP.

Also by i3lurker....got drown in my messages...

>>>>>>
I had never believed in managed funds.
Not even EPF.

///If he loses, he will have an advantage not enjoyed by most ordinary stock traders.
He will have something to comfort him in his poverty stricken old age.
He will have somebody to blame besides himself. ///

Sorry guys/gals

repost what dumbMoney. His message lost in my typhoon day.

Read this
>>>>>>>>>>>>>>>>>>>

The proposed DRIP intention to issue shares at a discount is supposed to be an incentive and reward for loyal shareholders at the expense of those who take cash instead. But this has the unintended consequence of contributing to the discount. Smart investors who opt for cash can game the system with a risk less arbitrage, subscribe for the DRIP at a discount and sell the equivalent amount of mother shares at market price. This can continue until DRIP discount is no longer wide enough to make the arbitrage profitable. This is an old trick before share trading went scripless. After a share went ex rights or bonus, controlling shareholders have the market to themselves because they can get hold of the new split shares immediately, while others have to send theirs in for registration and splitting, which can take up to a month under the rules. So pump and dump operations were so easy to do in an illiquid market.

>>>>>>>>>>>>>>

A gentleman. He didn't wash iCAP dirty linens in public. He is more of a geek to me. He is more interested to expound the finance theory than attacking the fund manager

You have seen how I extracted from dumbMoney on COL...he was very quiet about it until I read in between the lines and asked him more

Attacking me means there are truths in what I write...I only rely on public records....completely handicapped and have no help at all from anyone. Only trying to connect the dots. I never know the rubbish I wrote can be treated as a threat to him. A big mistake by attacking me.

I have completed lost my respects for him when he sent his 3 machais to attack me this morning

Please stop making more suicide bombers out of his followers.....

These are 3 agendas I am after if it is labelled as personal hidden agenda....

What I hope to see changes are simple:

1. Apologize to those been affected directly and indirectly by iCAP lost decade. He can keep his 78 million fund fees since 2012. No one is interested ever to claw back from him.

2. Cake B.

The title is : HOW TO HAVE YOUR CAKE AND STILL EAT IT?

Good! except the fund manager forgot to ask, which cake?

CAKE A: DIVIDEND + CAPITAL APPRECIATION

CAKE B: DIVIDEND+CAPTIAL APPRECIATION+ICAP PUT(SBB WHEN IT IS A SCREAMING BUY)

"BETTER IS THE ENEMY OF GOOD" VOLTAIRE

3. To reconsider Tan Mun Lin appointment - She is an Executive Director of CDAM, meaning someone has all the executive power in CDAM that may not be completely perceived independent even though she will hold as an Non-Independent Non-Executive of iCAP. It is a common sense that a person needs to clean and seen to be clean. Anyone with highest integrity, when in doubt or confronted with grey areas, they will always remove themselves so that CAN BE SEEN CLEAN.

A professional poker player will never be foolish to going ALL IN after looking into their odds of winning. Those names that being flashed on the roadshow are Pros.....it's an unfair advantage that little guys listen to someone who has10X of their brain size and treat him like stock market God....The are simply over-powered. They listened and believed in him because of his charisma not because of his logics. I am one of them but recently found out I have been cuci otak for too long...wish to let everyone to hear a balance view. They can see what I write and made decision themselves...what is best for them.

Using closing down fund as a blackmailing is unfair....just like Dr. M claimed he has no successor, no one can ever replace him. Shed famous tears on the stage. See what happened today? Please do not throw away trust and reputation that have been built of 50 years. I got a bit of respect for him when I opened up the e-mail of his talk yesterday about having the cake and still can eat it at the same time. I thought he begins to listen to the plights of his followers.

Siapa makan cili, tentu rasa pedas.

Usual tactics will follow, roadshow, online, soon each shareholder will receive phone calls... Who has the advantage????

For those have been sown with hatred speech... Please wake up. Also those who are buying recently betting the fund will close down, you will be disappointed. After AGM, iCap will still in one piece, perfectly in tact.

Actually no one here ever mentioned about winding up icapital. This is the chance of closing a fund if based on the persistent discounts
Discounts/Chance
10% Zero chance
11-20% 10% success rate chance
21-30 20-25% success rate chance
31-40% 30-40% chance
41-50% 50-50%
51-60% 60-70%
> 60% basket case... Days are numbered

iCAP people. Please check your reports.

CDAM(shareholder 22?)/CD Sdn Bhd(shareholder 30?) reported in 2023 Annual Report(page 59) as at 23/8/2023, they have (1,161,500+937,900) = 2,099,400 shares.

Then on 1/9/2023 made announcement for intention to deal during closed period.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3382528

The company declared it has 2,993,100 shares. That is an increase of 893,700 shares.

Including of 23/8/2023 and 1/9/2023, total trading days = 7, total volume in the market was 403,300 shares. CDAM/CD S/B and etc so geng, they can buy more than total market volume. Give you a helping hand: COL bought 132,000 shares on 28/8/2023. So I don’t how iCAP or CDAM can give birth to additional so many shares.

Suspected either got recording errors or under-declare, correct it before AGM to save yourself some embarrassments.

Take it as a compliment. Thanks. The 3 of you, can't argue on logics. Upgrade to next level. Personal attack. Welcome.

While got stuck in the airports due flight delayed, I finally can study @dumbMoney post quietly. You have done a great job in proposing various scenarios how shareholder value can be enhanced. The 4% dividend payout in different forms also taken consideration of equivalent to iCAP proposed in their innovative dividend model that essentially pricing in a perpetual 24% discounts to NAV. You have remained very neutral to consider all options unlike the fund manager doing only a hard sell of 1 Choice and 1 Cake. 😂😂

>>>>>>>>>>>>>>>>>>>>>>>>>
These are my computations under various assumptions and alternatives Paying dividends either in cash or shares have no effect on shareholders' wealth, but a SBB increases the NAV of the remaining shares, depending on the amount of SBB and the price discount. https://www.dropbox.com/scl/fi/y8sacaao3nejubp1owmor/iCap-dividend-policy-alternatives.xls?rlkey=nf1d2ldsdu5m6cuq5m38nj2lq&dl=0

>>>>>>>>>>>>>>>>>>>>>>

I have expanded your thoughts to apply on iCAP PUT by looking into a bear market scenario. This is a scenario of 1 bear market, 1 year and not all the years. Hopefully nobody twists this.
--------------------------------------------------------------------------
Outstanding shares 140,000,000

Assuming NAV @ 11/10/23 $3.54, Total NAV = 495,000,000

Share price $ 2.69 (Discount = 24%)

-----------------------------------------------------------
Assuming during a big crisis, iCAP NAV fell by 20%
Bear market NAV = $ 2.83
Discounts got worst, 40%, Share price = $ 1.42
Use budgeted $ 15,000,000 to do iCAP PUT, purchase 10,563,380(almost 7.5% share buy back)
Outstanding shares = 129,436,620

When market went back to normal at NAV 3.54, Total NAV = 480,000,000(going back to same baseline comparison)

Per share NAV after SBB = $ 3.71

At same 24% discount, project share price = $ 2.82

Price increase of 4.8% (2.82-2.69/2.69)

This why iCAP PUT is a no brainer and essentially what WB is doing. He doesn’t put SBB on automatic, some year he bought back a lot, and some year almost not buying back anything.

https://ycharts.com/companies/BRK.A/stock_buyback

PS. There is no need to talk about reduced management fees due to lower NAV because the fund manager has already proposed dividend, same amount of cash RM 15,000,000 will be deducted anyway.

Mathematically it makes so much sense to me. I hope stakeholders will stay rational to do the right things.

The fund manager will organize an online talk today at 12 pm, today.

The title is : HOW TO HAVE YOUR CAKE AND STILL EAT IT?

Good! except the fund manager forgot to ask, which cake?

CAKE A: DIVIDEND + CAPITAL APPRECIATION

CAKE B: DIVIDEND+CAPTIAL APPRECIATION+ICAP PUT(SBB WHEN IT IS A SCREAMING BUY)


"BETTER IS THE ENEMY OF GOOD" VOLTAIRE

Gone fishing...catch up later.

Too bad we can only talk about this and for sure we don't have the money to go to court enforce it🤐

My beloved fund manager always preach "seek truth from facts" by quoting chairman Mao

OIC, at first I suspected you are from COL😂😂 Clear to me now

This adding a very interesting twist to the plot. No wonder he will resist the SBB till the end. Treasury shares can't vote.

If true, this is a shrewd plan, increased control, taking fees from both sides perhaps even fixing some discounts issues but terrible governance. 😎

It's very difficult to get this information from the annual report...

Perhaps this is the plan engineered by the fund manager that can sent the share price soaring and tighten his grips when comes to proxy fights. All the proxy will be his. Rumors: CDAM, Tunku Sara plus his discretionary accounts already exceeded 5%.

Haha... 😝