Posted by godhand > 2017-08-08 14:13 | Report Abuse

i only agree to a certain extent but i salute u for having your firm stance

Posted by calvintaneng > 2017-08-08 14:32 | Report Abuse

godhand

it's ok

i guess peter lynch might not follow walter schloss though he might like ben graham

neither will charlie munger follow ben graham or walter schloss

Posted by 3iii > 2017-08-08 16:20 |

Post removed.Why?

Posted by stockraider > 2017-08-08 16:32 | Report Abuse

A guy like 3iii cannot comprehend pe 24x overvalue and pe 3x undervalue, very difficult for him to understand the concept Ben Graham margin of safety principle loh...!!

Posted by stockraider > 2017-08-08 16:41 | Report Abuse

On top of all the financial margin of safety principle listed here, raider advice people to look at the corporate governance of the company before institute buy hold loh...!!

If the company passed net net margin of safety but failed corporate governance test, raider advice potential investor...to just monitor 1st and only jump in when there are catalyst that drive the share price up loh..!!

What are catalyst ?
big share volume,good qtr earnings, disposal assets with good profit, emergence of major shareholder,good div announcement, corp exercise, big improvement in key success factors, major change in management etc.

Posted by Alex Foo > 2017-08-08 16:47 | Report Abuse

you want net-net? maa

Posted by 3iii > 2017-08-08 16:54 | Report Abuse

Another net-net I had the pleasure to look at was Poh Kong.

Posted by 3iii > 2017-08-08 17:43 | Report Abuse

Poh Kong
FY 2016

Current Asset 624m
Total Liability 277m

Net-Net = 624m - 277m = 347m

At 49.5 sen per share, its market cap is $203.12m



Fixed asset 114m

Cash 31m
Inventory 575m

Posted by John Lu > 2017-08-08 18:24 | Report Abuse

If Benjamin Graham alive also cannot save u la sochai


224) calvintaneng -1.0% 98958.01 http://klse.i3investor.com/servlets/pfs/71329.jsp
23% PBA 1.280+0.0225 1.150 17300|22% DUTALND 0.440 0.400 49800|20% OPCOM 0.585 0.600 33200|20% BJCORP 0.330 0.340 58600|16% BPURI 0.340 0.435 45800 (98777.25:180.76|237.24)

Posted by calvintaneng > 2017-08-08 19:03 | Report Abuse

3iii I tried this method of Graham's net-net. Very difficult. Firstly, very few such companies exist. Secondly, those that are in this situation, they are so horrible, you just do not wish to own them. Not easy strategy to use profitably for the long term. In fact, Walter Schloss at the end of his long successful investing career gave up his fund managing because he could not find many of these stocks to invest into.

However, it is nice to learn this net-net concept of Graham just to understand the concept of buying below a certain intrinsic value and margin of safety. But I am in agreement with Charlie Munger that Graham has a great intellectual mind, but his method is not superior and may not be the best to give you the most returns safely for the long term. Buffett was a young student of Graham and was awed by his teacher whom he has great respect. I think he too realise he has to move onto another investing philosophy., though still sticking strictly to his margin of safety principle.
08/08/2017 16:20

Yes, if in USA context Walter's son once tolf his father that there weren't many Net Net Stocks selling at deep discount in the US anymore. In that case Walter Schloss told his son that they might have to close shop.

However, in Malaysia context there are still many Value Net Net Stocks out there for the taking. It takes time & effort to dig them out and study one by one though

Posted by calvintaneng > 2017-08-08 19:08 | Report Abuse

stockraider On top of all the financial margin of safety principle listed here, raider advice people to look at the corporate governance of the company before institute buy hold loh...!!

If the company passed net net margin of safety but failed corporate governance test, raider advice potential investor...to just monitor 1st and only jump in when there are catalyst that drive the share price up loh..!!

What are catalyst ?
big share volume,good qtr earnings, disposal assets with good profit, emergence of major shareholder,good div announcement, corp exercise, big improvement in key success factors, major change in management etc.
08/08/2017 16:41

Yes correct!

Last time I visited Pm Corp Annual General Meeting.

Shareholders were fuming mad that Pm Corp's Cash hoard was used to saved other Mui Group companies. After being grilled Directors of Pm Corp promised not to use the Cash hoard to save other Mui Group companies. And so I took huge position in Pm Corp.

As it turned out Pm Corp finally gave out 8 sen Cash Payout while allowing PMI & Pm Capital to be delisted.

So collective effort of minority shareholders do have power if worked collectively

Posted by calvintaneng > 2017-08-08 19:10 | Report Abuse

3iii Another net-net I had the pleasure to look at was Poh Kong.
08/08/2017 16:54

Poh Kong looks ok as a Net Net stock. Do you know why operating expenses is over Rm190 mil? If they can scale down operating expenses then profits would increase by a lot more

Posted by John Lu > 2017-08-08 19:44 | Report Abuse

EH, indek 1780, US 22k, Hangseng, Nikkei all OK mah...Shanghai, SGX all also ok...why sochai calvintaneng after 7 months 7 days still losing money at -1%? Everyone earning so much until laughing to the bank...aiyoh...sochai always a sochai...now proven he talk cock number 1 but result negative 1...hahahah