Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:10 | Report Abuse

This post just shows why calvintaneng is such an unintelligent Investor as defined by Benjamin Graham in his classic book, “The Intelligent Investor”.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:14 | Report Abuse

Are You an Intelligent Investor?
Graham believed someone could be an intelligent investor in two ways:

ACTIVE OR ENTERPRISING INVESTORS - These types of investors have a lot of time to spend on building and managing their portfolios and also have a high risk tolerance. They must continually research, select, and monitor a dynamic mix of stocks, bonds, or mutual funds.

PASSIVE OR DEFENSIVE INVESTORS - These types of investors don't have a lot of time to spend on a portfolio or can't tolerate much risk. They must create a permanent portfolio that runs on autopilot and requires no further effort. This type of passive portfolio won't be very exciting, but it will get you steady returns over your lifetime.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:20 | Report Abuse

Strong, thorough research is the most important part about owning stocks. (Benjamin Graham)
The Intelligent Investor by Benjamin Graham


There’s one big underlying theme to this book. Yet, it keeps coming to the forefront again and again. It’s the one point that I believe Graham wants people to take home from this book.
Strong, thorough research is the most important part about owning stocks.
If you can’t – or aren’t willing to – put in a lot of time studying individual stocks, identifying ones that genuinely have potential to return good value to you over time, and keep careful tabs on those individual stocks, then you shouldn’t be investing in stocks.
Over and over again, Graham makes this point, in both obvious and subtle ways. He’s a strong, strong believer in knowing the company. If you don’t have clear, concrete reasons for buying a stock, then you shouldn’t be buying that stock, period.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:33 | Report Abuse

What does intelligent means in investing?

Benjamin Graham

Intelligent investor: this is an investor "endowed with the capacity for knowledge and understanding."

Intelligent here is not to be taken to mean "smart" or "shrewd" or gifted with unusual foresight or insight.

The intelligence here presupposed is a trait more of the character than of the brain.


The first rule of intelligent action by the enterprising investor must be that he will never embark on a security purchase which he does not fully comprehend and which he cannot justify by reference to the results of his personal study or experience.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:51 | Report Abuse

Profits of Malaysian plantation companies are heavily influenced by external factors

Conclusion:

Profits of plantation companies are affected by crude palm oil (commodity) prices which are heavily influenced by many external factors:

- seasonal fluctuation on palm oil production,
- weather conditions
- availability of supply of other major vegetable oils e.g. soya
- labour supply in oil palm plantations' FFB harvesting and unloading activities.
- strength of the ringgit
- increase in the oil palm productive areas
- tariffs for palm oil products

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 07:53 | Report Abuse

December 30, 2022

CPO expected to average at RM5,100 a tonne in 2022, seen at RM3,800 a tonne in 2023, says MPOB.

Posted by gladiator > 2023-03-03 08:51 | Report Abuse

KUALA LUMPUR (March 2): Fitch Solutions Country Risk and Industry Research has held unchanged its near-term palm oil price forecasts of annual averages of RM3,800/tonne through 2023, with upside risks, and RM3,400/tonne through 2024.

Posted by gladiator > 2023-03-03 08:51 | Report Abuse

Fitch Solutions said it sees prices falling to RM2,200/tonne in 2027 alongside a gradual loosening of the global production balance, on the back of a continued decline in EU palm oil demand, while noting downward pressures on production growth in Indonesia and Malaysia.

Posted by calvintaneng > 2023-03-03 10:17 |

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Posted by calvintaneng > 2023-03-03 10:18 |

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Posted by calvintaneng > 2023-03-03 10:21 |

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Posted by calvintaneng > 2023-03-03 10:23 |

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Posted by TreeTopView > 2023-03-03 10:25 | Report Abuse

Perhaps the KLK CEO's opinion may hold more weight than some others.
An extract from him in the very recent quarterly:

"Prospects
Current palm oil market appears to remain uncertain, influenced by trade policy changes in
both consuming and producing countries, lingering geopolitical tensions that could still impact
commodity prices and concerns on global economic performance. Notwithstanding its
discount to soybean oil, palm oil prices have eased considerably from the historically high
levels seen recently. Profitability contribution from plantation segment is expected to soften
for FY2023.
The Group remains focused to boost productivity and improve the fresh fruit bunches and
crude palm oil (“CPO”) yield to mitigate the impact of rising costs."

Posted by calvintaneng > 2023-03-03 10:25 |

Post removed.Why?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-03-03 10:25 | Report Abuse

My friend was elated. Bumper income from his 100 acre plantation for a few months last year.

Another friend with 10,000 acres of oil palm plantation remarked it was painful seeing the fruits rot on the trees during the high price period as there was a shortage of labour in his plantation.

This month, my friend with a 3000 acre plantation mentioned he had a great income last year due to the very high price of palm oil and he does not expect to witness the same this year.

Posted by calvintaneng > 2023-03-03 10:27 | Report Abuse

TreeTopView

Klk might be afraid of windfall tax which happened to glove

So they tone down

Posted by TreeTopView > 2023-03-03 10:29 | Report Abuse

What windfall tax are you talking about?

Posted by calvintaneng > 2023-03-03 10:29 |

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Posted by calvintaneng > 2023-03-03 10:30 | Report Abuse

Also Morgan Stanley has chosen Tsh and Taann to be in its Msci Malaysia

Posted by calvintaneng > 2023-03-03 10:31 |

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Posted by TreeTopView > 2023-03-03 11:03 | Report Abuse

It appears you may have missed my question, so I will repeat it.

What windfall tax are you talking about?

Posted by calvintaneng > 2023-03-03 11:21 | Report Abuse

Last time when gloves reported high profits and turned bullish

Ex Pm Muhyiddin imposed Rm400 millions tax on Glove co to help felda

Posted by brandon99 > 2023-03-03 11:47 | Report Abuse

When is this going to come? All stocks will cost 0 cent to buy? Very excited.

Posted by TreeTopView > 2023-03-03 11:47 | Report Abuse

I am totally baffled and confused by your response to my original post, which was the summary by the KLK CEO of his thoughts on palm oil for the remainder of 2023. Keeping in mind, the CEO Tan Sri Lee Oi Hian lives and breaths the palm oil business and is one of the most highly regarded figures in the industry by his peers.

He cited his tangible reasons why he was uncertain about palm oil this year and at no stage did he even hint at the slightest concern that the government may introduce a windfall tax.

There has also been no other palm oil company CEO mention this either. I put it to you that if there had been any whispers of this happening, that the palm oil companies would be putting their lobbyists into top gear to diffuse the matter.

It appears, to me anyway, that it is only you who engaging in this windfall tax commentary.

To cite your backup reason that a previous government did it to glove companies could mean it could happen to companies such as KLK is pure folly.

Glove companies such as Top Glove and Harta were making massive quarterly profits in the regions of Rm2 Billion to RM4 Billion due to a worldwide pandemic, which has absolutely no relation to the profits of palm oil companies. To attempt to compare both industries is totally reckless, imo.

It might be advisable to stop shooting comments out from the hip on matters that should be left to the real professionals in the palm oil business, such as the very highly respected Tan Sro Lee Oi Hian.

Posted by calvintaneng > 2023-03-03 12:14 | Report Abuse

should go see others

see Tsh comments

Posted by anthonytkh > 2023-03-03 12:20 | Report Abuse

I ain’t never gonna go back to visiting the TSH thread, no thanks to you and a few others. What a public toilet of a thread at TSH

For you to say KLK will tone down due to windfall tax is so fcking ridiculous that I think you really need to visit a shrink. Omg, jeez…

Posted by calvintaneng > 2023-03-03 12:43 |

Post removed.Why?

Posted by calvintaneng > 2023-03-03 12:44 | Report Abuse

the Group is
optimistic of achieving satisfactory performance for year 2022.

Posted by calvintaneng > 2023-03-03 12:44 |

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Posted by calvintaneng > 2023-03-03 12:44 |

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Posted by calvintaneng > 2023-03-03 12:45 |

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Posted by calvintaneng > 2023-03-03 12:48 |

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Posted by calvintaneng > 2023-03-03 12:50 |

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Posted by calvintaneng > 2023-03-03 12:51 |

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Posted by calvintaneng > 2023-03-03 12:52 | Report Abuse

Prospects
The Group’s overall positive performance for the financial year ended 31 December

OVERALL

POSITIVE PERFORMANCE

Posted by calvintaneng > 2023-03-03 12:54 | Report Abuse

BPLANT

Prospects for the Coming Year
Prices of palm products in 2023 are expected to stabilise after a volatile market in 2022. Stock levels
in Malaysia and Indonesia are expected to increase following an expected increase in mature areas,
better weather conditions as well as improved labour supply.
However, the global economy is expected to face significant challenges in 2023. The growth outlook
is expected to be lower this year in reaction to the persistently high inflation.
Barring any unforeseen circumstances, the Group is cautiously optimistic on its 2023 production as
labour supply are expected to recover, supported by ongoing efforts to mechanise, automate, and
digitalise operations.

Posted by calvintaneng > 2023-03-03 12:54 | Report Abuse

Barring any unforeseen circumstances, the Group is cautiously optimistic on its 2023 production as
labour supply are expected to recover, supported by ongoing efforts to mechanise, automate, and
digitalise operations.

Posted by calvintaneng > 2023-03-03 12:55 | Report Abuse

CAUTIOUSLY OPTIMISTIC

Posted by calvintaneng > 2023-03-03 12:56 |

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Posted by calvintaneng > 2023-03-03 12:59 |

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Posted by calvintaneng > 2023-03-03 13:00 | Report Abuse

cautiously optimistic

Posted by calvintaneng > 2023-03-03 13:04 |

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Posted by calvintaneng > 2023-03-03 13:05 |

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Posted by calvintaneng > 2023-03-03 13:06 | Report Abuse

shall achieve its positive profit margins despite the worldwide inflationary pressure.
Barring any unforeseen circumstances, the Board of Directors anticipates a satisfactory financial performance
for the financial year 2023.

Posted by calvintaneng > 2023-03-03 13:06 | Report Abuse

2 positives from TAANN

Posted by calvintaneng > 2023-03-03 13:14 |

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Posted by calvintaneng > 2023-03-03 13:15 |

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Posted by calvintaneng > 2023-03-03 13:29 | Report Abuse

another latest positive km Loong people exercising their warrants (not toxic call warrants by IB banks)

good sign

Posted by TreeTopView > 2023-03-03 13:32 | Report Abuse

Odd, you address my comments to you with a flood of posts, none of which address your comment about a windfall tax, which was the only question in point.

As I glanced through your flood of company extracts, I did notice the total lack of any company making statements about a bull run in palm oil prices, which seems to be your current flavour of the month.

But it appears that you know a lot more about palm oil pricing than industry players, especially the large capped companies who have a department that work full time on accessing the pricing and hedging of their palm oil production.

Oh well~~~~~~~

Posted by calvintaneng > 2023-03-03 14:51 | Report Abuse

A Rm400 millions from Gloves

See https://themalaysianreserve.com/2020/11/09/rm400m-is-one-off-donation-not-a-windfall-tax-substitution/