Posted by qqq3 > 2018-10-28 23:19 | Report Abuse

under the SIA, people cannot just go to forum and ask for investment money from the public......

-you need a licence
-you need a prospectus
-you need approval from bank negara and SC

u have to watch out for the definition of "public"

life not so simple one.

Posted by qqq3 > 2018-10-28 23:24 |

Post removed.Why?

Posted by qqq3 > 2018-10-28 23:38 | Report Abuse

go get yourself a CFA and work in the industry a few years.....

Posted by qqq3 > 2018-10-28 23:40 | Report Abuse

of course...there is no law against a few friends and family members pooling resources together to manage a hedge fund......

Posted by qqq3 > 2018-10-28 23:45 | Report Abuse

classical world of the world....Newtonian physics, deterministic, B Graham world, classical economics

modern view of the world......quantum nature, probabilistic, uncertainty principles....

Posted by KangWee > 2018-10-29 08:18 | Report Abuse

wakao qqq3 one hit see blood leh

Posted by Sslee > 2018-10-29 09:20 | Report Abuse

Dear hollandking,
Hope you like this view from atom to universe.
https://www.youtube.com/watch?v=0whBJui7zmY
Human is able to rule the planet earth because we are the only species that able to us our limitless mind to imagine and hence able to inspired (thro’ story telling, writing and speech) to unite us in millions for better or for worse. The same imagination helps us in discovering many theory of Physic, chemistry and biology for the advancement of science. Our imagination helps us to create the rules of god and rules of law so that our conducts are complied with certain rule for mutual benefit and humanity. Our imagination helps us to create value in piece of paper thus create value and commerce. Our conscience helps to guide us to be ethical and finally the vastness of universal and our inescapable final destination death helps us to have humility.

Dear qqq3,
I am disappointed with you despite numerous explanations by KC you still remain clueless as of what value investor about and where you get the information, “last 12 months, the value investors lost until father mother cannot recognise.....”
Value investors are the hardworking people going thro’ the annual financial report, getting relevant information from internet and make some assumptions as of what the future earning look like then we classified the stocks as growth stock (reasonable PE with solid cash flow and increasing revenue) or value play stock (Low PE with solid assets) we then allocated a certain capital to each of the stocks. We are flexible in selling some of these stocks when we feel that the stocks already achieved our TP and we carried out periodic review and make some rebalancing on our holding when opportunity or our assumption had change to valid an adjustment.

I had never used any derogatory word to hit at any person before and you are the first and hopefully the last. Know why? Posted by hollandking > Oct 29, 2018 12:29 AM | Report Abuse
If you are intelligent enough, u will have a clue

Thank you

Posted by qqq3 > 2018-10-29 09:38 | Report Abuse

ss

whether high turnover, low turnover...stock market not for you.....

Posted by qqq3 > 2018-10-29 10:39 | Report Abuse

osted by Sslee > Oct 29, 2018 09:20 AM | Report Abuse

stocks already achieved our TP
=======================

the biggest problem is the part dealing with tp........buy with conviction....bull market makes a lot of money. Bear market lose a lot of money.

Posted by newbie8080 > 2018-10-29 12:28 | Report Abuse

Dear Jon Choivo ,

Do you think LPI can excel further since you're saying that the company still running on obsolete underwriting system, pen & paper,ect?
Ultimately, using technology brings advantages and cost benefits and failure to innovate will only bring disaster to itself.

What do you think?

Posted by Jon Choivo > 2018-10-29 13:02 | Report Abuse

PBBANK and LPI is known to have one of the worst IT systems in banking and insurance.

But people dont lose money in banking or LPI because it system is bad. They lose money because they have no common sense. The give bad loans or write bad insurance.

The IT systems of LPI and PBBANK is good enough to get the job done. Some banks want to spend millions to automate one small part.

PBBANK etc just say, its ok, just continue.

PBBANK and LPI, or basically Teh Hong Piow, understands the importance of Return on Incremental Capital. They dont just simply do IT system upgrade because backside itchy.

Many banks willing to do IT upgrade like crazy, why? The money is not theirs. Their is no big boss with high skin the gamme.

Berkshire Hathaway is a USD500 billion conglomerate. Their HQ got less than 20 people. WArren buffet does not use excel, he does not have a bloomberg machine.

Ajit Jain turned Berkshire Reinsurance, from zero float in 1985 to USD49 plus billion today. He has less than 30 staff.

When it comes to banking and insurance. Its the people behind it that is aboslutely key, not so much the tools.

LPI can still excel further. As long as Teh Hong Piow is alive, and the culture is absolutely ingrained in the employees. With the future CEO being someone who has signifcant skin in game.

There is still plenty of places to grow. But the stock is really expensive on a quantitative basis.

Also berkshire hathaway is now 11PE. After earnings grew 67% in Q2.

====
newbie8080 Dear Jon Choivo ,

Do you think LPI can excel further since you're saying that the company still running on obsolete underwriting system, pen & paper,ect?
Ultimately, using technology brings advantages and cost benefits and failure to innovate will only bring disaster to itself.

What do you think?

Posted by newbie8080 > 2018-10-29 14:26 | Report Abuse

Dear Jon Choivo,

There's rumours within the PBB group that Tan Sri The may step down next year from all his current positions.


Any comments on the future of the group of companies?

Posted by 3iii > 2018-10-29 15:36 | Report Abuse

>>>>
newbie8080 Dear Jon Choivo,

There's rumours within the PBB group that Tan Sri The may step down next year from all his current positions.


Any comments on the future of the group of companies?
29/10/2018 14:26<<<


Is this something new that no one in the market knows of?

If yes, this will affect the share price.

If no, and everyone has known of this (since it has been announced), the price has reflected this news in the market already.

Posted by Jon Choivo > 2018-10-29 18:28 | Report Abuse

The market has known for some time he will leave. But i think on the official announcement there will a small drop.

I would not be worried about retirement, as i doubt tan sri is the type to just relax in retirement.

I'll start to worry upon his passing, about a year after. Having said that, i hope he lives a long long long long life. Even though i dont own any pbbank and lpi shares. Maybe i should buy some even if its abit expensive.

===
newbie8080 Dear Jon Choivo,

There's rumours within the PBB group that Tan Sri The may step down next year from all his current positions.


Any comments on the future of the group of companies?
29/10/2018 14:26

Posted by newbie8080 > 2018-10-29 20:15 | Report Abuse

Thanks for the insight

Posted by Jarklp > 2018-10-29 23:02 | Report Abuse

Jon, you can't simply compare credit, life and general insurance business in the analysis. The nature of their business is completely different.

General insurance companies rely on insurance/underwriting income, life insurance companies rely mostly on investment income. It is unlikely to see a positive "cost of float" for life companies unless they sell only pure protection plans like reinsurers. All life companies in Malaysia are selling mostly investment related plans like investment linked and profit-sharing plans. Protection plans are relatively small in their portfolio. LPI and Tune are showing positive "cost of float" because they are general insurance companies and of course their claim ratios are good.

No doubt LPI is one of the best managed general insurance companies in town. They have a relative high fire(which is highly profitable) insurance from PBB and relatively small motor insurance (which is not that profitable). They have the best combined ratio in town. In fact, they are also the one under a lot of pressure under de-tariff environment as many will start cutting price to get into their fire insurance portfolio.

For composite insurers like Allianz, Etiqa, MNRB and Takaful, you need to breakup the account into life/general and analyse it separately to get a better picture.

Posted by Jon Choivo > 2018-10-29 23:05 | Report Abuse

Dear Jarklp,

You are right. Life is way way way more competitive, and therefore the goal is to get it below average borrowing cost, and make the investment income.

Are you in the insurance industry? I would love to ask a few questions regarding some queries i still have.

Its only a rough guide after all.

Posted by Jarklp > 2018-10-29 23:29 | Report Abuse

What do you like to find out? if i can answer...LOL

Posted by Jon Choivo > 2018-10-29 23:35 | Report Abuse

Do you mind sending and email to meatboneteafriend@gmail.com or look for me on fb.

We can talk further there. Better yet, let me buy you coffee. :)

Or just drop your email here, and ill email you.

Posted by Learner King > 2018-10-30 17:15 | Report Abuse

Still not stop trying to cheat water fish ah jon choivo? Hahaha

Posted by Unlevered > 2018-10-30 19:29 | Report Abuse

Jon, do u go beyond annual reports to obtain the necessary quantitative data? Just curious haha

Posted by Alex™ > 2018-10-30 19:36 | Report Abuse

Alex water fish reporting in~

Posted by Jon Choivo > 2018-10-30 22:49 | Report Abuse

For individual company research, i do try if its something i really like.

But these days, everything is so cheap, and obviously good. A quick analysis will do.

====
Unlevered Jon, do u go beyond annual reports to obtain the necessary quantitative data? Just curious haha
30/10/2018 19:29

Posted by enigmatic ¯\_(ツ)_/¯ > 2020-03-02 22:41 | Report Abuse

@Choivo Capital, how do you rate LPI now, since the entire market has plunged and bargains are beginning to show?