Here's a related quote from one of Graham's books on this subject:
the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say that the market is a voting machine, where on countless individuals register choices which are the product partly of reason and partly of emotion.[1]
With respect to Graham saying "in the long run it is a weighing machine," I did an ebook search of Security Analysis and The Intelligent Investor, and the quote is not present in those books. Some say that Warren Buffett said that Graham said this.
While bulls they charge, with horns held bold, Contrarian whispers, "Soon, the story's told." Fundamentals strained, a tapestry thin, A crash awaits, where profits won't win.
He hears the cheers, the laughter light, But sees the cracks beneath the market's might. Technicals whisper, charts in disarray, A downward spiral not far away.
The market's heart, a creature wild, Can shift and turn, a fickle child. But Contrarian stands, with calm resolve, For in his mind, the future does evolve.
So let them scoff, their voices loud and clear, He holds his ground, with wisdom and no fear. Contrarian's path, a lonely quest, To see the market humbled, put to the test.
He waits and watches, with a patient heart, For when correction tears the world apart. Though some may doubt, and some may fall, Contrarian's vision will see him through it all
Posted by leeeeno > Mar 5, 2024 4:23 PM | Report Abuse Yes, possible RM 60 if do 60:1 consolidation Wait for this announcement, and you will see RM 60 INSAS (after condF-KxYPEGBSU
leeeeno 5 posts Posted by leeeeno > Mar 5, 2024 4:26 PM | Report Abuse Oh Lord, please let INSAS do a 50:1 or 60:1 consolidation.
Leno can't wait to see INSAS 60 kambeivBSSg-PHmE
leeeeno 5 posts Posted by leeeeno > Mar 5, 2024 4:26 PM | Report Abuse There is more bonus, if you can decryrypt my message
Memang he is the real Dino 🦕 lah Aka leeeeno. Don’t want to be cat kurap … RM 60 Kambbeengggg
Got money on the table Rm1.34 don’t want to take. But wait for RM 60 Kambbeenggggggggggggggggggg Aussie down under punya expert but doesn’t want to play Aussie Stock Market, why lehhhh. Can’t compete with Aussie Stock Market experts there is it Dino 🦕????
Got money on the table Rm1.34 don’t want to take. But wait for RM 60 Kambbeenggggggggggggggggggg Dino 🦕 is Aussie down under punya expert play Bursa market. Dino doesn’t want to play Aussie Stock Market, why lehhhh. Can’t compete with Aussie Stock Market experts there is it Dino 🦕????
Insas, a name that whispers promise, A value play, some investors entice. But hold, dear friend, before you take the bait, This siren song may lead to a bitter fate.
The price sits low, a number that enthralls, A hidden gem, a bargain for all. Yet stagnant waters, though alluring to the eye, May hold unseen depths, where dreams can die.
Years tick by, the share price barely moves, While others soar, a tale the market proves. Is it a value, or a value trap so deep? Where hopes descend, and fortunes fall asleep.
Think twice, dear friend, before you invest your trust, In promises whispered, turning into dust. For in the market's dance, a truth is plain to see, Not all that glitters, is a golden jubilee.
Stock [INSAS]: INSAS BHD Announcement Date 05-Mar-2024 Reference No ALA-29022024-00001 Listing Date 06-Mar-2024 New type/class? No Type Exercise of Warrants Details Conversion of Warrants 2021/2026 No. of shares issued 37,000 Issue Price Malaysian Ringgit (MYR) 0.900 Par Value 0.000 Total NOSH 693,385,053
Posted by Sslee > 27 minutes ago | Report Abuse The detail listing of conversion of 37,000 Insas-WC to Insas shares on 6 March 2024. Posted by TheContrarian > Mar 5, 2024 8:10 PM | Report Abuse Got someone exercised on the warrants! Insas number of shares has increased
Details Conversion of Warrants 2021/2026 No. of shares issued 37,000 Issue Price Malaysian Ringgit (MYR) 0.900 Par Value 0.000 Total NOSH 693,385,053
total Exercise of Warrants to be worth 693,385,053 if converted?
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As at 29 Sept 2023 ORDINARY SHARES Number of shares issued : 663,020,762 (excluding 30,327,291 treasury shares) Class of shares : Ordinary shares Voting rights : One vote per ordinary share
Because of coversion of 37,000 Insas-WC to insas shares thus the update NOSH: 663,020,762 + 37,000 + 30,327,291= 693,385,053
Sslee Sir, Is it true every minor conversion of Insas Warrants will need to be announced in Bursa? Or only big amount of insas W conversions will be announced?
Marcus Cicero (43 BC), of the Roman empire wrote this amazing wisdom. 1. The poor - work & work. 2. The rich - exploit the poor. 3. The soldier - protects both. 4. The taxpayer - pays for all three. 5. The banker - robs all four. 6. The lawyer - misleads all five. 7. The doctor - bills all six. 8. The goons - scare all of seven. 9. The Politician - lives happily on account of all eight. Written in 43 B.C. Valid even today !
I can think of two scenarios: A] didn’t realise the slight premium Warrants over Ord shares.
or
B] Testing the water to see how fast the conversion takes. Seeing the Volume traded on Warrants are exceptionally high, this is a takeover bid? Increase ordinary shares to gain control. Propose EGM to vote restructuring exercise.
By the way Ah Thong is holding his free WC in case to fight off any hostile takeover. And when WC expired he will propose another RI of RPS with free warrants.
Defensive strategy. Thong has A LOT at stake. This is the first time over in Bursa I see Billionaire by assets but not by Market valuation.
Berkshire is priced at 1.4times over its NTA. But USA do have non-GAAP valuation of marking shares it owns in NYSE/NASDAQ to market if the company choose to do so.
Important is Insas generating profits consistently which is bulky instead of consistent profits performance.
Profits range from RM50mil to RM200mil a year. That is fine by me.
Cash pile RM1 BILLION (Spelled with a “B”) are waiting for deployment in = Financing business to the likes of AEON Credit, RCE Cap., ELK DESA = Participating in M&A’s IPO clients in private placements = Acquiring private assets = Acquiring Local Bursa opportunities = Acquiring overseas opportunities especially Vietnam, China, Indonesia.
I admire Insas Managing directors business acumen
Disclosure: I own Insas and Insas WC, amongst others. will continue accumulate in near future.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
TheContrarian
9,483 posts
Posted by TheContrarian > 2024-03-05 15:07 | Report Abuse
Learn from Neoh Soon Kean.