Posted by svet > Dec 5, 2016 10:38 PM | Report Abuse
Hi KC. I was informed that I can reach out to you to learn about investing strategies. There was an email address, but the mail was returned.

email me at ckc13invest@gmail.com

Posted by Mtnike688 > Dec 5, 2016 04:32 PM | Report Abuse
Hi Mr Kc Chong, may i know how to learn investment from you?

email me at ckc13invest@gmail.com

Posted by stockmanmy > Dec 5, 2016 12:20 PM | Report Abuse

kc,
above in response to you

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

The greatest pong lan pa fellow I have ever met, where do I mislead you?


Me: But my question to you was "Where did I mislead you?" in response to your sweeping statement below,

Posted by stockmanmy > Dec 4, 2016 02:13 PM | Report Abuse
( migrated to NZ, still want to teach Malaysians how to invest in Malaysia.....so old, still need to work so hard....how successful an investor can he be? And, how much he knows about Malaysian businesses living in NZ? He and his FA alone can survive in the KLSE jungle...?....that is pure misleading the general public. )


There are hundreds of people saying buying this stock and that stock. A few months later some stocks up and some stocks down, and they will brag about those stocks which have gone up.
Hundreds of them.

Go and write a proper analysis and come with some comprehensive reports to show you your process and methodologies of stock selection. Process trump outcome.

Posted by coolio > Dec 4, 2016 11:42 PM | Report Abuse
KC, you have my upmost respect. I wish the old man will realise his mistake & ego.
I'm painting my life not only with your FA teaching, but your attitude, discipline & humbleness


That is the best reward for a teacher.

By the way, Mr. Koon has apologize to me and I have accepted it. He is a big man being able to do so publicly.

Posted by chonghai > Dec 4, 2016 11:29 PM | Report Abuse
The only ugly sight was that there is a student who seem not able to comprehend what his teacher was teaching and decided to throw a temper tantrum.
KC you should probably give him a refund.


Chonghai,
When I first started my course three years ago, I only charge RM100 a month, less than the cost of teh tarik and roti canai a day as someone said. But there certainly some shortcomings about the course when first started. Some of them I gave them free. Some of them dropped out in a couple of months because of various reasons, including not finding any stock tips. Some dropped out in 4 months when I started to teach time value of money and discount cash flows, but mostly finished the course which took about 6 months then. Some of them I put them in a new one for free.

So I don't really know which category he was in. Don't know how much to refund him.

Posted by stockmanmy > Dec 4, 2016 02:13 PM | Report Abuse
( migrated to NZ, still want to teach Malaysians how to invest in Malaysia.....so old, still need to work so hard....how successful an investor can he be? And, how much he knows about Malaysian businesses living in NZ? He and his FA alone can survive in the KLSE jungle...?....that is pure misleading the general public. )


The greatest pong lan pa fellow I have ever met, where do I mislead you?

From all the records of my stock pick portfolios set up in i3investors, all the articles I wrote about in i3investor, which part of them mislead you?

Have you written anything useful at all to share with us, besides all the bullshit?

You made me jealous. Congrats.

Posted by paperplane2016 > Dec 3, 2016 10:36 AM | Report Abuse
Fund mgr is nothing to us. We can sack them anytime.


You go ask a fund manager to invest your money, say RM10m. After three months you say I want to the fund manager.

What will they do?

Yes, you can sack him, but since your investment is less than a year, according to the agreement, you have to pay an exit fee of say 3%. That is RM100k.

Posted by Yippy68 > Dec 3, 2016 02:33 AM | Report Abuse
kc,stand firm, forget this elegant old man, he has no principle at all for staying back at i3, and write nonsense, i gain so much from joining your fa class, i made 30k for a 1k fee, you recommended me to buy hevea,i did . thank you SIR.


Gain RM30k from 1k fee, not bad at all.

But seriously, that was due to your own merit for being able to evaluate and have independent thinking. I don't think I recommend you to buy, but merely provided you with my analysis and view on Hevea.

Posted by paperplane2016 > Dec 2, 2016 08:51 PM | Report Abuse
Now I know how bad a stock picker koon is. Omg. Loss so much. No wonder his stock pick this yr also go into longkang!
Anyway, did kcchongnz really answer the question?
Questions were why he sold flbhd, latitude that went many fold???
Kyy might be speculator, but he can be right sometimes with his so called business senses. And he win big when he is correct.
Everyone got different style.


But who is managing the fund? Who should have the say what stock to buy or sell when you give your money for others to manage?

Was there any Flbh or Latitude in the portfolio handed to me? Please check and read the article one more time.

Posted by Michael Wong Yew Kong > Dec 2, 2016 07:51 PM | Report Abuse
Well done KC. As investment banker, u really did great job to helping customer save lot of money instant of losing it more.

I am not aninvestment banker and everybody knows it. So I think you must be an investment banker.

Thanks for the comment from an investment banker. I dare to say it is very hard to find an investment banker like you who puts client's interest above himself.

Posted by MoneyFace88 > Dec 2, 2016 07:33 PM | Report Abuse
KC , my apologies to you for saying for negative things about you in the past. But , after seeing many many articles from you and old man KYY. I have made the conclusion that you are a good man with sincere motive of educating people of course one has to pay if wants to learn from you who have spent time , money to acquire knowledge , nothing is free in this world.


One of the best comments here. Thanks MoneyFace from the bottom of my heart. That is a better reward than money. I hope my articles dedicated to you before did not offend you.

Posted by stockmanmy > Dec 1, 2016 01:27 PM | Report Abuse
KYY has very rudimentary knowledge of FA but a strong business sense.
Seems to work fine for him....for for all the billionaires the world has seen.
Call it Forrest Gump effect, call it blessings, call it luck , call it what you want.
a rudimentary knowledge seems like a necessary and sufficient condition for some blessed people.



So are you admitting that apa ini business sense works is just like a coin flipping exercise; blessing, luck?

If that is the case, how can you say having some rudimentary "business sense" is suffice for investing success?

By the way, you haven't proved what your statement said yet with published records yet.

Posted by stockmanmy > Dec 1, 2016 12:54 PM | Report Abuse

just to make sure you know I am not here to break your rice bowl....but hopefully for the students to take learning journey as a joyful experience and rewarding experience of and by itself.

Share investment is not an easy game .....and only those who take the learning experience and the journey as a joyful experience can succeed.


Your statement above becomes more sensible.

But please note that teaching people how to do the proper way of investing is not my rice bowl. Those who are willing to learn FA will benefit from learning and will be alright in their investment, at least they will avoid being eaten by sharks.

But it is not easy. Few people invest using FA because they do not believe in it, for example you are one. Despite I have given you all the evidence, and my own experience in i3investors, you still go around shouting FA doesn't work, and only the vague apa ini "business sense" works, without any evidence.

Yet a lot less people are willing to spend time and effort to learn about FA.

No wonder 90% of retail investors lost money in the stock market.

Posted by bracoli > Dec 1, 2016 08:25 AM | Report Abuse
Hi kc would u feel stress when answering those hard headed questions? LOL


No lah bracoli,

On the contrary, most of the time I enjoy it. Too bad when I present truth and facts, they lari already.

But they will come back, whenever they find opportunity to pounce on me. That is ok.

Posted by stockmanmy > Nov 29, 2016 01:25 PM | Report Abuse
funny but true
finance professors never become rich

Most finance professors are not very rich, but they are doing much better than the average investor and those who criticize them.

None of them got bankrupt investing, I think.

I can at least think of a couple of finance professors who become very rich frominvesting, I mean Billionaires in USD such as Joel Greenblatt and Josef Lakonishok. Many more are multimillionaires from investing.

What is your basis of saying that they never become rich? Not richer than you?

Posted by donfollowblindly > Nov 30, 2016 01:14 PM | Report Abuse
Long time never commend on Coastal Contract. Just find out only worth RM 1.28, meaning someone will lose RM 2 if bought in 2015.


You are the most unlucky person in the world I have ever known. I have written tens of stocks published in i3investor and you choose to buy one of the very very few stocks of mine which gone wrong. And the rest on average have made more than hundred percent in less than 4 years.

It is a six sigma event of following blindly.

Sorry, you only have yourself to blame for not doing the homework, but follow blndly.

Try harder next time.

Posted by Flintstones > Nov 30, 2016 12:45 PM | Report Abuse

Stress free? What a misleading article. There is no such thing as stress free in investing. Many people say buy more when it drop more. It is easier said than done my friend. I would love to see how will you react when your stocks drop 50% with nonreasons and no more cash to add.


Misleading? What is misleading?

What has stress free investing to do with your statement below?

"Many people say buy more when it drop more. It is easier said than done my friend. I would love to see how will you react when your stocks drop 50% with nonreasons and no more cash to add."

My article doesn't tell you to buy more when the share price drop until you pok kai. Does it?

Posted by Tryingtogetrich > Nov 30, 2016 12:40 PM | Report Abuse
KC, u r doing a good job..... i have learned a lot from your posting in i3..... i am also an avid value investor...there is no substitute to hard work in share investment...however there r numerous websites now providing financial metrics ie roic,roe,ev etc of companies..... r they reliable ? is it advisable to use the numbers provided?

I am glad you like what I write.

I guess you may use those metrics from the various website as initial assessment. It may be advisable to go deeper by looking at their financial statements and evaluate yourself as financial statement interpretation is often different from different people, especially things like ROIC and EY of a firm.

Posted by sosfinance > Nov 29, 2016 02:21 PM | Report Abuse
Dear kcchongnz,
Relating to your article "a red flag" on increased in property development costs RM484m vs RM200m (FYE2015), it may not be a red flag after all. The increased mainly attributable to increase in Freehold land RM248.2m can be explained below.
If you review the Annual Reports, on Note 16&30, you will realised that the above increased RM284m (484-200) can be substantially explained by the following:
Dr Cr
Purchase of Semenyih Land RM98.7m Cash
JV on Cyberjaya RM141.m Non-trade Payable
Total RM240.2m
Appreciate your comment if it is still a red flag. Thanks.


sosfinance,
The reason I wrote this article is because someone continuously bragging about his golden rule is the only way to make money. That is ok. But repeatedly saying FA is useless is going too far as there is no bloody basis. As you know you and me use FA, and I am doing well, and I believe you are doing well too in your investment. And I have shown all the real super investors in the world are doing extremely well, with data and numbers.

Hence I have no intention to discredit Gadang. What for? Tell you the truth, you probably know a lot more than me about Gadang.

I was trying to show that using FA is useful, for example in this case cash flows of Gadang.

So what I am trying to say is there may be some concern about the cash flows, and I won't chase the share when it is RM3.30, especially someone with huge margin finance having huge position, and kept on promoting it with misleading information, because if something turns bad, the selling and forced selling will be disastrous.

Besides the cash flows is not good.

Development costs under current assets normally is the development cost of ongoing projects; the money spent on the infrastructures, consultant fees, etc. It is part of the working capital. Whereas what you mentioned about is "Land under development", and normally is under the non-current asset. If you spend a lot of money on development cost and you can't sell your property, then there may be some problem. And revenue has been recognized in the development activities, but costs are only capitalized.

That was the way I see it. I have never said I was absolute sure about it. As you know, I am not an accountant.

But I was not condemning the share, but merely raise a concern for others to ponder.

I have no further interest in Gadang, and hence i do not go into details in the annual report. As I have said, you probably know more.

Posted by stockmanmy > Nov 29, 2016 11:21 AM | Report Abuse
Not true.
Every thing said in this article not true.
Buy and hold a selected portfolio based on the best ability is no guarantee of success.
One financial crisis can take you back to the beginning.


"He is one of the most influential investors based on his 5 decades long performance from 1955, returning 20% per year, almost three times the 7% return of the S&P during the same period. If you placed $1000 investment with Scholss in 1955 for 50 years, your $1000 turned into $9.1m, 300 times more than the just $30000 from the return of the broad market!"

"That $1,000 invested in 1964, when Buffett took over the company and shares cost just $19, would be worth about $11.5 million dollars today. This is equivalent to a compounded annual growth rate (CAGR) of about 20% for a long period of 51 years."

"In 1985, Greenblatt started a hedge fund, Gotham Capital, with $7 million. Through his firm Gotham Capital, Greenblatt presided over an impressive CAGR of 30% from 1985 to 2006. The $7 million capital turned into $1.7 billion 21 years later."


These are all publicly available information. Not true?

Can you show me the super investor in your mind his record in the last 20 or 30 or 50 years record and see if he can smell anyone's fart above?

Don't just talk empty!

Posted by bintang21 > Nov 29, 2016 11:50 AM | Report Abuse
KC,
You gave a general statement of negative cash flow of gadang for some of the years, did you explain where the cash was spent. Did the company debt keep increasing . Did you provide any fact and data the company is burning cash? Did you provide such fact and data ? NO !
Unbiased? Fair to those who had invested based on the FA may be learnt from you?
Hope this does not sound offensive to you .
Thanks



"Fair to those who had invested based on the FA may be learnt from you?"

Young man, please bear in mind. I truly don't owe you so much explanation. As a matter of fact, anything at all. And also bear in mind,nobody owes you anything in this world.

And I am not a saint.

KC,
now you are back on the right path.knowledge sharing ,fair and unbiased
forgive me to express my view frankly, the article title " another lesson from Gadang" I feel itis biased and unfair. not a comprehensive analysis of your usual style. you talked about gadang deceiving growth but you did not offer any good explanation.
I dare not ask because I know you may answer "can't you read from the article" or "I do not owe you any explanation".
you are a well accepted and respected sifu ,if you are willing to share your knowledge and your view, then I believe you will not feel annoyed to explain if requested


"can't you read from the article" or "I do not owe you any explanation".

The above answers were given to those who asked abusive questions or made abusive statement such as these:

[Posted by Xuewen > Nov 27, 2016 03:27 PM | Report Abuse
KC
If you know Gadang is a good for nothing company , highly overvalued
Why you tell the story now but not when the price is still hot above 3.00 like you have done for VS?
Am I not right to call you horseback canon sifu


Posted by paperplane2016 > Nov 28, 2016 11:56 PM | Report Abuse
The thing is this when stock going up, someone will claim credit. When down, someone will said when did I recommend you to buy, buy at own risk. I only analyze for you. I never said good or bad. Deny everything if going against him or her .
That typical politicians!!!
Now thinking about tht , kyy not really tht bad at all even though he calls ppl stupids. At least he will openly admit he is wrong and ask ppl sell. He is mOre noble lah.]


You know I have been sharing for years in i3investor, spending lots of time and effort. Do you think I should like before sit down in front of computer and spend hours and answer their abusive questions politely and patiently? Gosh not me. I am not a saint.

As for Gadang, try to understand what I was trying to share. Someone said FA is useless, and I am trying to say that you could see some concern for Gadang's results, its poor cash flows. Try analysing its cash flows last year, and also the past few years then you understand what I am trying to convey to you, instead of saying i am trying to create fear. I am also telling you it is dangerous to follow others who especially has a lot of money to dispose,with heavily borrowed money, to buy the shares he keeps on promoting. Because when things turn the other way, he will dump the shares like no tomorrow, and you will suffer.

I have no motivation to create fear. I am giving you some facts and figures for you to ponder and study in detail, hopefully you will see something which may be important. But whether you want to accept my view or not, which may not turn out true too, is entirely up to you.

In investing, only hear things you like to hear, is not good.

Posted by paperplane2016 > Nov 28, 2016 11:57 PM | Report Abuse
Someone should be politician, not analyze stock! Analyze stock charge ppl few hundreds where can earn big money right


People are all different. For example in this case, one may like to share knowledge, leverage all the goodwill he thinks he has sowed, and at the same time, earn a little reward for all the time and effort he puts in. I have no objection for anyone putting in effort to earn a little honest money, not stealing, nor robbing, for some extra indulgence in life, do you?

Of course there are also greedy people in this world such as some corrupt politicians, whom some people are so admire of. anyone is free to enumerate them. It is individual choice.

But in this world, not everyone only think of becoming very rich, and money is the only thing left.

Posted by paperplane2016 > Nov 28, 2016 11:56 PM | Report Abuse
The thing is this when stock going up, someone will claim credit. When down, someone will said when did I recommend you to buy, buy at own risk. I only analyze for you. I never said good or bad. Deny everything if going against him or her .
That typical politicians!!!
Now thinking about tht , kyy not really tht bad at all even though he calls ppl stupids. At least he will openly admit he is wrong and ask ppl sell. He is mOre noble lah.


Remember, nobody owes anybody anything in this world. In investing, if he is sharing his knowledge in a public forum like this for free and without any other hidden agenda, thank him if you follow him and make some money. If you don't, and lose money, suck it up and blame yourself for following blindly. That is the very basic about humility.

You can follow anyone you wish to; worship anyone you like, and that is your prerogative.

Posted by coolio > Nov 27, 2016 04:00 PM | Report Abuse
I bought Gadang at very low price and decided to sell when everyone is chasing. You just need to play with the game. Sell when that old man non stop promoting this stock. Just look, he can change from a sell call last week and few days after that make a buy call. Beware


A great investor armed with FA knowledge plus smart behavioral finance.

Well done coolie. Hope to see you in KL.

Posted by xiaotee > Nov 27, 2016 04:53 PM | Report Abuse
KC,
Of course FA analysis cannot guarantee continued good/excellent performance of any company - but it is one of the most important tool, if not the most important, to indicate a company's future health/performance. It is no less a detailed resume' of the entity, in this case the company, even if it is about it's immediate past.Like when a person applies for a job, the potential employer often depends on his resume'( which is his/her past) to make a decision whether the person will be a good and capable employee - there is also no certainty that he/she would be so. FA is actually better than this analogy. If FA indicates the company has lots of FCF, giving consistently growing dividend yields far better than FD returns, a proven honest and clever management, and high ROIC and in a type of business where it may have a moat, the chances of that being a wrong investment is really very low. In fact the reality is the chances of it being a very good investment is very high. Nothing is certain in life and in choices for investment but we can take good calculated risks using FA as a tool.
Thank you KC for your continuing excellent articles.


xiaotee,

Thank you very much for your comment and excellent analogy. You are really a great student of mine in investing. But in life, I have a lot more to learn from you.

Posted by xuewen > Nov 27, 2016 04:37 PM | Report Abuse

I just talked to Mr Koon, the wise man told me to hold on with Gadang, he want to collect cheaper later, ask me to keep so we both will be the final winner by end of the 2016


Can you please confirm your statement above?

Posted by xuewen > Nov 27, 2016 04:21 PM | Report Abuse

Posted by kcchongnz > Nov 27, 2016 04:15 PM | Report Abuse

Still, I do not owe you any explanation.

then what the hell you share your article here with email ?
to promote your online course ?
so, you are not genuine to share here


I have mentioned outright that I am trying to get more people to learn about FA so that they can invest to build up long-term wealth. Yes, of course with a fee, a small fee though.

For this article, I do see quite a lot of people appreciate it, of course only for those who can understand what I have written and trying to propagate.

Posted by xuewen > Nov 27, 2016 04:08 PM | Report Abuse

cut loss ?
reduce?
hold ?
buy a better counter ?
are you willing to recommend here ?


No, I can't. To me, investing is not easy. It is full of uncertainties. Because investing is about the future, and the future is unknowable and unpredictable.

I feel very amused people can talk with full confidence and giving investment advice like buy this stock even though it has gone up by 50%, 100%, or cut loss because of this and that.

"Investing is not easy; anybody who thinks it is easy is stupid", Charles Munger

However, if one knows the language of business in depth, not just some simplistic "golden rule", the chance of making a better judgment is higher.

I am not absolute certain about my assessment, though I have one myself, and hence I am not willing to recommend any advice to you, knowing that many people will curse and swear like this statement here:

"you are free to share your view, remember I will mark your words, if you mislead me, than I will bring your grandfather out of the grave to scold"

You are a very dangerous person to deal with.

Posted by xuewen > Nov 27, 2016 04:02 PM | Report Abuse

KC
did I say you owe me anything ?

You said: Why you tell the story now but not when the price is still hot above 3.00 like you have done for VS?

did I ask to tell me it is overvalue or undervalue ?

You said:just because of KYY involvement in GADANG, a good company has become a rotten one in the eyes of our well respected sifu KC

You said: "If you know Gadang is a good for nothing company , highly overvalued
Why you tell the story now but not when the price is still hot above 3.00 like you have done for VS?
Am I not right to call you horseback canon sifu"


do you think you are the only one know valuation ?

Me: When did I say that?


do you think your valuation is always fair and unbiased?

Me: Valuation is an art.

what lesson you have learnt from gadang you want to share with us ?

Me: Can't you read the article and try to understand the lesson I try to convey?

Still, I do not owe you any explanation.

A stock, even a good one, becomes a risky investment when everyone is chasing it to sky high, especially with margin finance. Because when the market turns the other way, the stocks which has gone up too high, will fall. The fall will be very ugly exaggerated by margin calls.

A stock which someone basing on his "golden rule" whom has bought a lot, will suffer badly, when the next quarter result is not that good, because the "golden rule" trader will just dump it like no tomorrow. Speculators who follow to chase the stock sky high will suffer.

And that is exactly happened to Gadang.

Posted by Xuewen > Nov 27, 2016 03:27 PM | Report Abuse
KC
If you know Gadang is a good for nothing company , highly overvalued
Why you tell the story now but not when the price is still hot above 3.00 like you have done for VS?
Am I not right to call you horseback canon sifu


When did I say Gadang is a rotten company?

Where did I say Gadang is a good for nothing company?

Do I owe you anything that I must inform you it is overvalued at above RM3.00?

Where did I say Gadang is overvalued

Posted by ttwong > Nov 27, 2016 12:18 AM | Report Abuse
cash flow should be viewed multiple years instead of just one particular year. over the latest 5 years, its cash flow has been up, down, up, down by small amount. pointing just one year of negative cash flow is unfair to the company.

ME; WONDERFUL COMMENT, THANK YOU VERY MUCH. THAT IS WHAT I PROPAGATE TOO. IN FACT I LOOK MORE ON FREE CASH FLOWS OVER A NUMBER OF YEARS. BUT INSTEAD OF JUST MAKING A STATEMENT, PLEASE TELL US ITS CASH FLOWS OVER A NUMBER OF YEARS, SPECIFICALLY FCF.

HOWEVER, THIS IS JUST MY OWN CONCERN OF ITS DEFICIT OF CASH IN THIS PARTICULAR YEAR, THAT I HAVE A RESERVATION ABOUT ITS PERFORMANCE, THAT I WON'T CHASE ITS SHARE AT THE LOFTY PRICE. ALL FOR MY OWN DECISION IN INVESTING IN GADANG. I DIDN'T TELL YOU NOT TO BUY, OR TO SELL BASE ON THIS INFORMATION, BUT MERELY SHARING MY PERSONAL POINT OF VIEW.

also i am dissapointed with u kc that u use those "dismay" picture posted in public forum from unknown person as one of your pointer to judge your investment.

ME; YOU HAVE YOUR RIGHT TO FEEL DISAPPOINTED WITH KC. BUT PLEASE NOTE THAT KC DID NOT SHOW YOU THOSE PICTURES AND ASKED YOU NOT TO BUY GADANG. KC MERELY EXPRESS HIS OWN CONCERN FOR HIS OWN DECISION WHEN SOMEONE SHOWED HIM, AND THAT KC WAS JUST SHARING HIS OWN PERSONAL CONCERN, FOR HIMSELF, AND NOT FOR YOU.

CHARLES MUNGER USED TO SAY, "TELL ME WHERE I AM GOING TO DIE AND I WON'T GO THERE".

SOMEONE TELLING ME THAT PLACE (EVEN THOUGH I DO NOT KNOW IF IT IS TRUE OR NOT) AND I TOLD YOU I WON'T WANT TO GO THERE. BUT I DIDN'T TELL YOU NOT TO GO.

"Why there are more losers than winners in the stock market?"

This is the main reason.


[Posted by John Lu > Nov 25, 2016 11:57 PM | Report Abuse
Kc please give a stock that can go up rather than keep repeating your old story]


So many people believe there are tooth fairies in the stock market, helping them to make big money from the stock market. Think about it, how can you be a winner when tipsters also win in a zero-sum game most market players are involving in?

In contrast, look at the behaviour of potential winners in the stock market below.


[Posted by Ezra_Investor > Nov 25, 2016 08:19 AM | Report Abuse
Dear KC, while going through your articles, I realized that you used TEV instead of EV when calculating EV/EBIT, may I know if TEV is a more accurate measure and why?
Another question, the inverse equation which is Earnings Yield, do you still stick with EBIT/TEV instead of EBIT/EV?]

Posted by John Lu > Nov 25, 2016 08:37 AM | Report Abuse
KC out of idea what to buy after 2013


Obviously the comment above was made without even reading the article.

Actually nowadays so many of my present and past course participants are giving me great ideas in investing. How wonderful it is to leverage on all the goodwill I have spread.

Posted by paperplane2016 > Nov 25, 2016 08:30 AM | Report Abuse

well KC, I have recommended MSC recently and it runs so far smoothly, how about commenting weakness of MSC then?


In a public forum like i3investor, few, very few are receptive of comments in contrary to what they believe. From experience,i doubt you are exceptional one.

Posted by Ezra_Investor > Nov 25, 2016 03:14 PM | Report Abuse

Yeah, but TEV takes in both core operations (Enterprise value) and non-core operations (Non-Operating Assets), while EV only factors in core operations.

So do you recommend TEV instead of EV?



To me, both terms are the same. If yours is different, then I would say use EV.

Posted by Ezra_Investor > Nov 25, 2016 08:19 AM | Report Abuse

Dear KC, while going through your articles, I realized that you used TEV instead of EV when calculating EV/EBIT, may I know if TEV is a more accurate measure and why?

Another question, the inverse equation which is Earnings Yield, do you still stick with EBIT/TEV instead of EBIT/EV?



TEV is the same as EV, with T stands for "total".

Posted by paperplane2016 > Nov 7, 2016 07:02 PM | Report Abuse
yes. KCChongnz did good job. I agree. But tell us moving forward things. not existing what we know


Look, in my comment which you make the statement of "low life", I was trying to say you are the champion of the stock pick challenge, that you should tell me what stock to buy instead of me giving you tips.

But seriously, haven't I done my part in i3investor about stock pick when I put up the two portfolios in 2013. Since you are the champion now, may be you should do your part now.

Posted by valuelurker > Nov 7, 2016 01:53 PM | Report Abuse
All rehash counters from low base 2013...come on tell us something new


What about this?

Posted by ckkhen > Nov 7, 2016 10:55 AM | Report Abuse
RUOutOfUrMind KC articles are good for newbies & lazy people, but add little value to those who do lots of studies & possess of technical skills in financial figures & business senses.
05/11/2016 14:17
Yes, I am one of those people who has taken up his course and his stock pick but too lazy to do my own research because I am 67 years old but I make good money by his recommendations such as Padini, Perstima, Hexza, Tguan, Scientx, Magni, Apollo. His recent picks on KESM and HLI are moneybaggers.
Yes, I may be lazy to do my homework but at least I can follow his analysis and understand the language of business and finance. If the fundamentals are there, you would not go wrong and even if you are wrong, you won't lose too much because the downside is taken care of.
Lazy me is waiting for KC's new list of stock pick.

Posted by paperplane2016 > Nov 7, 2016 12:35 AM | Report Abuse
Whatever. I asked he got guts to recommend a stock next yr. He reply. Sarcastically......equally low life. Not a person I wanna learn from compared stock God, stock raider, Calvin, koko888. These are real sifu.....


Sarcastically? where? How?

Low life? Who?

But reading your comment, I don't think I want to waste my time to explain to you what i meant in the article about this.

I never ask you to learn from me, have I?

Please go to your stock gods.

Posted by wkitwing > Nov 5, 2016 12:15 PM | Report Abuse

hi kc,would u mind if i ask you something?i do know know do analysis on my own .......just need to check with you whether tienwah and chinwel match your criteria?as both of them make up most in my portfolio though for now.anyway i do interested in your stock picking service but not for the course la coz i can do my own analysis btw.

so if for the stock picking service only,just contact your e-mail?just curious to know sifu kc pick then from there i can do my homework see whether it match my criteria or not.


Tienwah and Chinwel were once in my stock portfolio, but now i don't follow them with the latest development. You may show me your calculations so that I can comment on them, but bear in mind, investing s about the future. Chinwel may have some problems because of the lifting of anti dumping in Europe.

You can just join my stock pick service if you wish, not necessary the course. Just write to me using the email address given.

Posted by Wing50 > Nov 1, 2016 02:05 AM | Report Abuse
It is entirely your prerogative to agree or disagree with my statement that up-to-date information is vital to decision making in selection of shares, as historical financial data are all factored in the share price.
Prediction of the future and success in investing are two entirely different matters.
You don't need a snake-oil salesman to give prediction of the future. You would be better off to consult a clairvoyant, so long you are happy and believe in it.
Even if you correctly predicted the future that doesn't mean you are a successful investor.
We are well aware that even the most successful investors in the world will time and again get it wrong. However, that doesn't mean that he/she is not a successful investor.
So, why would I expect you to become a snake-oil salesman to give me prediction of the future?


As a retail investor, there is limitation of what he can do, the most is to base on annual report and published financial statements, and/or industrial report, other analysts reports etc. To get other information like management plans, future contracts, prospect of the industry etc, those are the job of a professional analyst. This information is important, but is it really so "vital", a must have in order to be successful in investing?

And tell me, how many of those professional analysts, in percentage wise, with so much "vital" information at their disposal, have done very well?

I have shown many times in i3investor, really successful super investor such as Walter Schloss of deep value investing, Joel Greenblatt of Magic Formula, Coldeye based on his 5 yardsticks extracted from annual report, or ven Buffett of his famous metric of return on capital, etc. Does anyone of these tell you that predicting the future is very important for your investing success?

"historical financial data are all factored in the share price."?

I used to use to argue with others that the above of market efficiency is always true when I was studying a master degree in finance, because I was brain-washed. After reading many books and writings of those super investors, and from my own investing experience in the last 10years, some of which I have shared all over i3investor in the last 4 years, I have completely changed my view.

Buffett used to say, "If the market is efficient, I would be holding a tin can in my hand now."

"Even if you correctly predicted the future that doesn't mean you are a successful investor."

Why not? The question is how many people can do that?

"We are well aware that even the most successful investors in the world will time and again get it wrong. However, that doesn't mean that he/she is not a successful investor."

Who are those very successful super investor who time the market, get them wrong, and be very successful? What is the percentage of them?

Posted by GG3261 > Oct 31, 2016 03:41 PM | Report Abuse

KC,

Calvin doesn't like Gadang because of capital city, he called this project white elephant. do you mean , in your eye, capital city indeed an white elephant ?


I don't know much about Capital City. I believe many who have bought Gadang also don't know much about it too. We as retail investors have limitations of what we know.

But with what Calvin said, whether he lied or not, but if i were you who is so committed to Gadang, I will seriously take a good deep look at it.

Posted by GG3261 > Oct 31, 2016 03:17 PM | Report Abuse
KC,
thanks for you advise,
I am safe with the downside of gadang, don't worry
i just can not tolerate some people talking rubbish here


In life, take from others what is good and ignore what you think is not good.

For Gadang, whether Calvin is right or not, we will wait and see. But I don't think he talks rubbish about it.

In investing, invert, always invert.

Posted by GG3261 > Oct 31, 2016 02:51 PM | Report Abuse
I am a fans of KC and cold-eye,
I do not know how to be careful in my investment
I only know I must invest in a company that I can sleep well


In my opinion, Gadang is ok company. It is nothing great, and the management, ok lah, but again is nothing that great.

If you invest in Gadang just a year ago when it was selling at RM1.50, yes, I agree with you, you should be able to sleep well. I did invest in it too, and I also invest for some of my friends too.

But with the private placement, the bonus issues, the share split, the misinformation about the Kwasa Land development, and the heavy promotion, share price shot up to RM3.30, in a short time.

Furthermore, someone also told you to buy more, because he has bought hundreds of millions, because the value of your share has increased and you can use more borrowed money to buy more, etc.

Don't you feel something is not that right?

I may be wrong, as I sometimes do, or rather often do. But in my school of thoughts, we care more of downside than trying to win big, which in my opinion, seldom materialized.

Calvintaneng, your comments in my threads are always most welcomed because you may be over-zealous sometimes about your stocks, in my opinion, your comments are generally fill with facts and very relevant specially when you warn against some overplayed stocks.

Owners of those stocks should, instead of calling Calvin names, take a deeper look at what he says, find out more, and may be it is beneficial for you eventually. That is the kind of attitude we as small retail investors should possess, take notice of opposite views, rather than having the cognitive bias of confirmation bias.

I really don't know why your comments here should be flagged.

Posted by Flintstones > Oct 30, 2016 11:05 PM | Report Abuse

Not to be critical or anything. Surely, I respect your track record as well as teaching capacity. What we readers expect are more "real-time" analysis of opportunities from kcchongnz.


You may have mistaken that I am a chartist, every minute looking at charts.

No, I am not a chartist. I am a fundamental value investor. The fundamentals of a business doesn't change in a minute, a day, or even a month.

CNBC is a good place for you to look at minute-to-minute analysis of stock price movement.

Posted by Wing50 > Oct 30, 2016 05:30 PM | Report Abuse

We have to understand that this is only an advertising article. So, it has to repeat again and again the same old story!

By the way, we all know that up-to-date company information is vital in a decision as to whether to buy or sell a share. Share price reacts to constant changes to this information and not some historical financial data.



Thanks for your statement which is true to a certain extent.

You see how difficult is it for people to get it, even I repeat and repeat again about the proven success in fundamental investing, with facts, figures and all the evidence, from my very own experience, yet they still can't see, nor understand, or refuse to understand, that FVI works, and it works very well.

All my experience in success in FVI, yes, all of them as published, one strategy after another of FVI, provided out-performed hugely. They are all mostly based on what have been conveyed in annual reports, financial statements, historical you may say, but they worked very well.

Do I have to be a snake-oil salesman to give you prediction of the future to be successful in investing?