Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-12 08:31 | Report Abuse

Use "normalized income after taxes."

(1) If you are calculating ROE on your own, it should be calculated using the most “stripped-down” income available; i.e., “normalized income after taxes,” which excludes all non-recurring and extraordinary items from the income derived from continuing operations. This is not all that easy to come by. Either you, or your data provider’s analysts must estimate the tax implications for the non-recurring items excluded, since such items appear above the tax line on the income statement. At this time, the only data providers I know of that offer normalized earnings are Value Line (www.valueline.com) and Market Guide (www.marketguide.com).

(2) As a practical matter, the second best and probably the “most likely to succeed” would be income available to common shares from continuing operations excluding extraordinary items.

(3) And the net income after taxes would be a near next choice.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-13 07:41 | Report Abuse

Don't be fearful when a stock price dropped by half. If you are confident in the business and have the conviction that its price should be higher and that in the future, its price (based on valuation) will be higher than its previous highest price, continue to own the stock for the long run.

Posted by StartOfTheBull > 2024-04-14 07:30 | Report Abuse

Middle East crisis escalated.
https://www.timesofisrael.com/report-warns-iran-could-launch-major-drone-and-missile-attack-as-soon-as-friday/

Posted by stockraider > 2024-04-14 10:55 | Report Abuse

Just invest in maybank as give good steady return & div loh!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-16 10:35 | Report Abuse

Just visited the market, and it is so "red" today! Wonderful!!!😀

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-23 08:08 | Report Abuse

QL
Fiscal year is April-March.
All values MYR Millions. 2023 2022 2021 2020 2019
SALES/REVENUES 6,243.00 5,236.00 4,379.00 4,156.00 3,619.00
GROSS INCOME 1,254.00 902.00 870.00 826.00 687.00
NET INCOME 347.00 217.00 312.00 239.00 217.00
NOSH (DILUTED) 2,434.00 2,434.00 2,434.00 2,434.00 2,434.00
- - - - -
- - - - -
FREE CASH FLOW 345.52 218.42 223.20 67.75 -49.67
DIVIDENDS 170.36 85.18 73.01 73.01 73.01
- - - - -
- - - - -
TOTAL EQUITY (Book Value) 2,888.00 2,706.00 2,546.00 2,091.00 2,014.00
TOTAL ASSET 5,285.00 4,957.00 4,877.00 4,096.00 3,708.00
RETAINED EARNINGS 2,103.00 1,933.00 1,803.00 1,566.00 1,412.00
TOTAL 5 YR RETAINED EARNINGS 691.00
- - - - -
- - - - -
Fiscal year 2023 2022 2021 2020 2019
GROSS PROFIT MARGIN 20.09% 17.23% 19.87% 19.87% 18.98%
NET PROFIT MARGIN 5.6% 4.1% 7.1% 5.8% 6.0%
ASSET TURNOVER 1.26 1.07 1.07 1.12 #DIV/0!
FINANCIAL LEVERAGE 1.83 1.92 1.96 1.84 #DIV/0!
ROA 7.0% 4.4% 7.6% 6.4% #DIV/0!
ROE 12.8% 8.5% 14.9% 11.9% #DIV/0!
DPO RATIO 0.49 0.39 0.23 0.31 0.34
- - - - -
- - - - -
FISCAL YEAR ENDING 2023 2022 2021 2020 2019
PRICE 6.37 5.51 4.6 6.12 5.57
- - - - -
- - - - -
MARKET CAP 15,504.58 13,411.34 11,196.40 14,896.08 13,557.38
NAPS 1.19 1.11 1.05 0.86 0.83
EPS 0.14 0.09 0.13 0.10 0.09
- - - - -
- - - - -
P/B 5.37 4.96 4.40 7.12 6.73
P/E 44.68 61.80 35.89 62.33 62.48
EARNINGS YIELD 2.24% 1.62% 2.79% 1.60% 1.60%
- - - - #DIV/0!
- - - - -
FCF YIELD 2.23% 1.63% 1.99% 0.45% -0.37%
DIVIDEND YIELD 1.10% 0.64% 0.65% 0.49% 0.54%

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-23 22:45 | Report Abuse

NESTLE MALAYSIA

This is definitely a GREAT company.

Revenues grew from 5.5b in 2019 to 7.1b in 2023.
Gross Income grew from 2.1b in 2019 to 2.2b in 2023.
Net Income dropped from 673m in 2019 to 660m in 2023.

From 2019 to 2023 (a period of 5 years), it generated 4.1b in net cash from its operations.
From 2019 to 2023 (a period of 5 years), it spent 1.4b on capex.
From 2019 to 2023 ( a period of 5 years), it generated 2.7b in Free Cash Flows.
From 2019 to 2023 ( a period of 5 years), it distributed 3.04b as dividends.

How much was retained earnings from 2019 to 2013? 10m
Its total equity in 2019 was 665m and in 2023 was 675m.

Its gross profit margin was a high of 37.6% in 2019 and a low of 30.9% in 2022. Its average GPM over the 5 years was 34.1%. In 2023, its gross profit margin was 31.64%.

Its Net Profit Margin shrunk from 12.2% in 2019 to 9.3% in 2022. The Net Profit Margin in 2023 was 9.4%. The average Net Profit Margin for the last 5 years was 10.2%.

We can expect its profit margins to expand in the near future when the costs of its goods are cheaper.

Its Dividend Payout Ratio was a high of 0.99 over the 5 year period.

Over the last 5 years, its average P/B was 52.2x, its average P/E was 52.7, its average Earnings Yield was 1.91%, FCF Yield was 1.70% and its average DY was 1.89%.

In 2023, its P/B was 44x and P/E was 45x, both were the lowest for the last 5 years.

In 2023, its earnings yield was 2.22%, its FCF yield was 2.91% and its DY was 2.07%; these are the highest for the last 5 years.

QUALITY: GREAT BUSINESS
MANAGEMENT: EXCELLENT, SUPERB
VALUATION: FAIR PRICE (FOR THOSE WITH LONG TERM HORIZON)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-24 22:24 | Report Abuse

Dutch Lady

This company is suffering from some short-term business problems. The market has beaten its share price down a lot.

Look at the company in greater detail. It is growing its revenues. Despite huge capital expenditure to set up the new manufacturing plant, its short term and long term debts remained very low. It is able to generate cash from its operations and delaying payments to its creditors to finance the capex. Though its dividends were slashed over the last 5 years, it is still paying 50 cents per share in dividends. All these points to Dutch Lady has economic moat. Its business will sail on through troubled times.

It is a company that is not hurting for cash and is not sitting on a mountain of debt.

Once the new manufacturing plant is up and functioning fully, we can expect to see ton of cash piling up, little debts and its dividends creeping up again.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-25 07:23 | Report Abuse

The business of Dutch Lady remains exceptional. Despite huge capex, it carries little long-term debt on its balance sheet. Dutch Lady remains highly profitable and it is self financing the building of its new manufacturing facility (compensation of its old factory and land acquired by the authority, through internally generated profits, retaining more of its earnings by paying out lower dividends and through funding from its suppliers).

Due to its economic moat, Dutch Lady is able to grow without the need to borrow large sums of money.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-26 05:35 | Report Abuse

We are stock investors in high-quality growth companies — not stock traders.

We look to hold a company in our stock portfolio as long as the company's fundamentals remain intact and the potential for an appropriate return on our investment exists.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-26 05:36 | Report Abuse

Anyone can become a successful lifelong stock investor by following sound, practical investing principles.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-26 07:11 | Report Abuse

A beaten down stock maybe a good investment opportunity. At its beaten down price, the upside reward is high and the downside risk is low. Assumption: it is a temporary downturn in its business.

Why one should be optimistic and greedy?
Revenue growth
Profitable
Margin expansion
PE expansion

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-28 06:25 | Report Abuse

1. The right entrepreneurs.
2. Business opportunity itself.
3. Return of capital > 16%.
4. Growth in top line and bottom line.
5. Small is beautiful.

Check list is important.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-04-28 06:26 | Report Abuse

Growth without cash flow.
Versus
Growth with cash flow.

Posted by Sslee > 2024-04-28 07:26 | Report Abuse

3iii,
What is your comment on AAX acquisitions of AAAGL and AAB?

Total borrowings and lease liabilities of AAX/Newco will be escalated to RM 23,271,794,000 a gearing of 23.96 times after the proposed AAAGL and AAB acquisitions.

Posted by tangox3 > 2024-04-29 13:58 | Report Abuse

Hi fellow investors, I am a newbie inherited some stocks from my late husband and now desperately starting to learn about the stock market. Appreciate if some Sifus are willing to connect with me via any channel and provide some guidance...

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-02 06:29 | Report Abuse

One of the most effective methods to reduce tax leaks in this area is through e-invoicing implementation.

The Finance Ministry has previously stated that from 2000 to 2009, the shadow economy accounted for about 30.2% of Malaysia’s GDP, reducing to 21.2% from 2010 to 2019.

A significant reason for this decline was the implementation of the GST in 2015, introducing tax invoices and plugging some tax loopholes.

More comprehensive

When comparing tax invoices from the GST era with the planned e-invoicing system, it becomes evident that e-invoicing requires more comprehensive and detailed information.

This indicates that the IRB can gather more data to monitor transactions between businesses (B2B) and businesses and consumers (B2C), further sealing tax loopholes and increasing national revenue.

This is why many countries have either begun or planned to implement e-invoicing.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-02 09:28 | Report Abuse

A company with durable competitive advantage (Definition of a great company).

In Bursa, Nestle is a great company.
A great company can grow its revenues and earnings consistently and over a long time.
It maintains its margins.
It has healthy earnings, that is, its earnings generate a lot of cash from operations and net operating cash flow.
It requires to spend little to maintain and/grow its business (capex <<< earnings).
Thus, it generates a lot of free cash flow.
It does not need a lot of new capital to grow its earnings, thus, its ROE is very high.
It would be great if Nestle can reinvest this into its business but it is not able.
Not surprisingly, it distributed almost all its earnings to its shareholders.

All great company started small and grew over many years into its present size.
A small company can grow faster than a very big company.

Look for other companies in other sectors that have the characteristics of Nestle, and you will probably find a great company to analyse and ponder on.

The only thing is these great companies tend to trade at very good prices.
A great company can be a bad investment if you overpay to own it.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-02 09:40 | Report Abuse

Nestle
2005
Price 23 - 25.75 DPS 80.2 SEN EPS 114 DY 3.5 - 3.1% PE 20.2 - 22.6

2024
PRICE 127.50 DPS 268 SEN EPS 280.70 PE 45.42 DY 2.10%

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-02 09:44 | Report Abuse

FROM 2005 TO 2024

NESTLE has grown its earnings from 114 sen to 280,70 sen. (2x) Its dividend distributed was 80.2 sen in 2005 and today it is 268 sen. (3x).

Its share price grew from 25 in 2005 to 125 today (5x).

PE expanded from 22 to 45 (2x)

Growth in share price is due to earnings growth x PE expansion.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-02 09:47 | Report Abuse

In 2005, the risk free interest rate was probably about 6.5%. Today , perhaps 3.5% to 4%. Thus, risk free interest rate has dropped by half. This will affect the valuation or the PE of assets.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-03 16:53 | Report Abuse

Our stock market was at its lowest point in June 2023. Since then, it has risen steadily.

The recent climb in the index has been led by big blue chips consumer stocks.

Is this the start of a bull run?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-07 17:10 | Report Abuse

Portfolio of XXX14.08

Stock % Shares Position Change Value Record Date Report Year
PBA 0.30 1,000,000 - 2.15M 29 Mar 2024 2023
DKSH 0.25 400,000 NEW 1.93M 29 Mar 2024 2023
KFIMA 0.27 742,000 88,000 1.57M 26 Jun 2023 2023
PTARAS 0.48 800,000 - 1.26M 25 Aug 2023 2023
TONGHER 0.34 520,000 - 1.25M 27 Mar 2024 2023
PERSTIM 0.31 400,000 75,000 1.14M 30 Jun 2023 2023
FAVCO 0.21 485,000 NEW 1.10M 29 Mar 2024 2023
CHINWEL 0.26 750,000 150,000 908K 29 Sep 2023 2023
THPLANT 0.14 1,200,000 - 798K 20 Feb 2024 2023
FM 0.23 1,279,800 406,300 768K 29 Sep 2023 2023
SUBUR 0.41 778,900 - 697K 29 Mar 2024 2023
SUCCESS 0.22 500,000 - 498K 02 Oct 2023 2023

Posted by ahbah > 2024-05-08 12:45 | Report Abuse

Bull run oredi got started about 10 months ago lah, U still no got see meh ?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-08 16:59 | Report Abuse

NAME ### MCap.(M) ### Earnings ### Dividends ### DPO
MAYBANK ### 118,738.81 ### 9,349.51 ### 7,243.07 ### 0.77
CIMB ### 72,729.84 ### 6,979.83 ### 4,589.25 ### 0.66
PBBANK ### 81,719.01 ### 6,649.23 ### 3,685.53 ### 0.55
HLBANK ### 42,704.05 ### 3,910.63 ### 1,276.85 ### 0.33
SIME ### 19,288.14 ### 3,738.01 ### 885.33 ### 0.24
YTLPOWR ### 39,918.41 ### 3,343.25 ### 491.00 ### 0.15
IHH ### 55,572.12 ### 2,951.25 ### 1,639.38 ### 0.56
HLFG ### 20,104.50 ### 2,913.70 ### 562.93 ### 0.19
RHBBANK ### 23,574.91 ### 2,806.54 ### 1,713.90 ### 0.61
TENAGA ### 72,225.90 ### 2,770.46 ### 2,665.14 ### 0.96
MISC ### 36,513.83 ### 2,122.90 ### 1,606.61 ### 0.76
YTL ### 36,972.87 ### 2,006.12 ### 439.98 ### 0.22
TM ### 24,023.55 ### 1,870.99 ### 958.54 ### 0.51
SIMEPLT ### 30,982.40 ### 1,859.69 ### 1,037.91 ### 0.56
PETGAS ### 35,933.77 ### 1,819.43 ### 1,422.98 ### 0.78
AMBANK ### 13,985.86 ### 1,818.71 ### 606.99 ### 0.33
PCHEM ### 55,280.00 ### 1,696.23 ### 1,039.26 ### 0.61
CDB ### 48,099.18 ### 1,552.09 ### 1,548.79 ### 1.00
PPB ### 22,619.32 ### 1,394.53 ### 597.15 ### 0.43
PMETAL ### 44,329.15 ### 1,214.50 ### 576.28 ### 0.47
MAXIS ### 28,195.48 ### 993.15 ### 1,251.88 ### 1.26
PETDAG ### 21,736.77 ### 943.03 ### 795.57 ### 0.84
GENTING ### 17,407.26 ### 929.38 ### 581.40 ### 0.63
IOICORP ### 25,643.61 ### 874.02 ### 692.38 ### 0.79
NESTLE ### 30,086.35 ### 658.20 ### 628.80 ### 0.96
KLK ### 25,408.58 ### 618.21 ### 660.62 ### 1.07
MRDIY ### 16,724.25 ### 560.65 ### 302.71 ### 0.54
GENM ### 15,498.30 ### 436.82 ### 891.15 ### 2.04
QL ### 15,989.13 ### 412.41 ### 171.08 ### 0.41
AXIATA ### 26,719.38 ### -1,995.47 ### 1,285.20 ### -0.64

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-08 17:28 | Report Abuse

RANKING IN TERMS OF EARNINGS

BANKS: MBB> CIMB > PBB> HLB> HLFG> RHB> AMBANK

PLANTATIONS: SIME PLT> PPB > IOI CORP > KLK

TELECOMMUNICATIONS: TM > CDB > MAXIS > AXIATA

POWER: YTL POWER > TENAGA > PETGAS > PCHEM > PETDAG

OTHERS: SIME > IHH > MISC > YTL > PMETAL > GENTING > NESTLE > MRDIY > GENM > QL

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-08 17:38 | Report Abuse

Investor's Checklist: Business Services

Understand the business model. Knowing if a company leverages technology, people, or hard assets will provide insight as to the kind of financial results the company may produce.

Look for scale and operating leverage. These characteristics can provide significant barriers to entry and lead to impressive financial performance.

Look for recurring revenue. Long-term customer contracts can guarantee certain levels of revenue for years into the future. This can provide a degree of stability in financial results.


Focus on cash flow. Investors ultimately earn returns based on a company's cash-generating ability. Avoid investments that aren't expected to generate adequate cash flow.

Size the market opportunity. Industries with big, untapped market opportunities provide an attractive environment for high growth. In addition, companies chasing markets perceived to be big enough to accommodate growth for all industry participants are less likely to compete on price alone.

Examine growth expectations. Understand what kind of growth rates are incorporated into the share price. If the rates of growth are unrealistic, avoid the stock.



(Example: MYEG leverages on technology.)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-05-10 13:31 | Report Abuse

When interest rate goes up, asset values are expected to drop. Something to do with the value of an asset is the discounting value of all the cash flows from these assets by a higher discount factor.

How do we explain the last 2 years US stock market behaviour? The FED increased the interest rates and yet the US stock market climbed higher and higher.😃

Posted by calvintaneng > 2024-05-21 07:14 | Report Abuse

Better sell Dlady (holland grandma)

GO BUY NOTION

NOTION VTEC: 4 ENGINES OF GROWTH FIRING UP IN UNISON: HDD (Hard Disk Drive), DIGITAL CAMERA, EMS, PPE N95 FACE MASKS, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-05-20-story-h-161551412-NOTION_VTEC_4_ENGINES_OF_GROWTH_FIRING_UP_IN_UNISON_HDD_Hard_Disk_Drive

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-06-06 12:53 | Report Abuse

Summary
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Stockraider

Hasn't posted for a month. Hope all is well with him.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-06-07 07:36 | Report Abuse

My protection:

For every 500 companies screened
Saying NO to 200 companies
Saying YES to 1 company

😀

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-06-19 10:01 | Report Abuse

Poh Kong

Highest qtrly revenue and highest qtrly net profit reported.
Revenues increased by 23% and net profit increased by 69% QoQ
Higher revenues and increase in gold prices had improved its profit margin.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-06-19 16:50 | Report Abuse

After World War II, US became the dominant country in the world. The world was divided and the cold war ensued for many years. The Soviet Union broke up and many of its newly independent countries are now with or leaning to the G7 and European countries.

The US dollar reigned supreme. It soon become the world reserve currency and most trades between countries are settled in US dollars. The SWIFT system provides the mean to trade using the US dollars for many decades.

When the US santioned Russia by kicking it out of the SWIFT system and also freezing its US denominated assets (mostly in US Treasury bonds), it set off an alarm bell to those holding the US dollars and their vulnerabilities, especially in those where US try to coerced or pressured.

The need to look for an alternative system was urgent for these countries not in the good books of the US. They looked to learn from the Iranian sanctions by the US and also the sanctions of Russia by the US, and given our human ingenuity, soon comes out with a system to trade among themselves, by passing the use of the US currency. Moreover, while the G7 controlled a huge part of the world GDP at its inception, its influence today is much less (30%). BRICS+ controls more than 30% of the world GDP today.

In a few months or perhaps a year or two, we should see the rise of a new world currency system (backed by gold) in place, for those countries wishing to participate in this. In the next few years, the US currency will remain all powerful still but the weaponisation of the US currency will be less effective. Over time, will we be seeing the rise of the BRIC+ currency and the slow gentle decline of the US currency as the world reserve currencies.

Given the huge debts of the US, will the slow decline in the use of the US currency as a world reserve currency impact its economic strength in the near future?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-06-27 09:18 | Report Abuse

A brief review of my long term portfolio

1. Investing is very safe for the long term. Short term results can be extremely volatile. Be prepared for rough rides anytime.

2. Holding on to winners, selling the losers. This ensures that your portfolio will contain many winners. Of course, another assumption being not to invite "losers" into your portfolio.

3. The long term multi-baggers are the true builders of the wealth in the portfolio. Even then, over the decades, their prices fluctuated too (not a surprise). The ability to continue hold on to these for decades ensure you grow your wealth through compounding in these winners.

4. Sell quickly those stocks that have deteriorated fundamentally (business wise). You may choose to sell some of the stocks you like too if you think they are too over-priced (or you may choose not to use this strategy, it will be fine too).

5. Twitching your portfolio now and again, to improve on the quality of the stocks in it and also to optimise returns is a good practice. Do this occasionally, but rarely. Often you will find that you can reinvest into the same stocks that you know well in the stock portfolio.

6. Sometimes, you made a mistake in buying a particular stock. Just sell and reinvest into another you like.

7. Always buy at bargain prices. An investment is good at a certain price and very bad at a high price. The market is there to serve you, you will always have a chance to buy cheap. Be patient.

8. Have the courage and the cash ready to act when an opportunity presents. Be greedy when everyone is fearful. Fire your elephant gun, do not be timid in this opportune time.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-06-27 09:32 | Report Abuse

Concept of equity bond (of Warren Buffett)

Heim was bought at RM6, decades ago.
Its latest yearly dividend was 128 sen.
Imagine owning a bond with a face-value of RM 6 and paying increasing coupon rate over many years.
Today, its coupon rate is 21.3% (=RM1.28/Rm6.00).

Posted by calvintaneng > 2 months ago | Report Abuse

UNDERSTANDING DIFFERENT FORMS OF VALUE IN VALUE INVESTING, Calvin Tan

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-08-03-story-h-155170407-UNDERSTANDING_DIFFERENT_FORMS_OF_VALUE_IN_VALUE_INVESTING_Calvin_Tan

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

For very long term portfolio of stocks:

Stay with

QUALITY
GROWTH
INTEGRITY
ECONOMIC MOAT
FAIR OR UNDERVALUE (WHEN BUYING)
REINVEST THE DIVIDENDS
IDEALLY HOLD FOREVER


When to sell such stocks? ALMOST NEVER.

EXCEPTIONS:
WHEN ITS FUNDAMENTALS DETERIORATED PERMANENTLY (SELL ALL)
WHEN IT IS OVERPRICED (MAY OR MAY NOT CHOOSE TO SELL SOME)
SELL TO REINVEST INTO A HIGHER QUALITY STOCK WITH HIGHER UPSIDE:DOWNSIDE POTENTIAL.


KEEP INVESTING SIMPLE AND SAFE. K.I.S.S.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

Power of compounding.  K.I.S.S.

Start investing early.
Assuming the portfolio of stocks give a 10% return yearly or doubling every 7 years:

Number of compounding years .. Outcome

O $1
7   $2
14 $4
21 $8
27 $16
34 $32
41 $64

A person invested 1k at age 20 years and compounding at 10% yearly, his investment grew to 64k, when he was 61 years old (41 years later).

A person invested 1k at age 40 years and compounding at 10% yearly, his investment grew to 8k, when he was 61 years old (21 years later).

A person invested 1k at age 54 years and compounding at 10% yearly, his investment grew to 2k, when he was 61 years old (7 years later).



INVEST EARLY.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

Compounding is truly magical at the end of the long compounding period.

The person who invested at age 20 years, the last doubling from age of 54 to 61 was $64 - $32 = $32. This $32 incremental gain in his portfolio value is MORE than all the doubling gains of his portfolio from age 20 to age 54.

This is a HUGE FIGURE.

😄😀😄😀😄😀😄😀😄😀

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

The enemy of your cash is INFLATION.
The friend of your cash is COMPOUNDING.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

During the 1996 Berkshire Hathaway Annual Meeting, Warren Buffett discussed the value of investing in truly great companies that will remain strong for decades.
He advises against trying to time the market or waiting for a financial crisis to buy stocks at a discount, as great companies are rare and difficult to find. Instead, Buffett suggests buying and holding onto these companies long-term, with the confidence that they will thrive over time.
Here’s an excerpt from the meeting:
Buffett: Yeah. Well, I won’t comment on the three companies that you’ve named. But in general terms, unless you find the prices of a great company really offensive, if you feel you’ve identified it — And by definition, a great company is one that’s going to remain great for 30 years.
If it’s going to be a great company for three years, you know, it ain’t a great company. I mean, it — (Laughter) So, you really want to go along with the idea of something that, if you were going to take a trip for 20 years, you wouldn’t feel bad leaving the money in with no orders with your broker and no power of attorney or anything, and you just go on the trip.
And you know you come back, and it’s going to be a terribly strong company. I think it’s better just to own them. I mean, you know, we could attempt to buy and sell some of the things that we own that we think are fine businesses. But they’re too hard to find.
I mean, we found See’s Candy in 1972, or we find, here and there, we get the opportunity to do something. But they’re too hard to find. So, to sit there and hope that you buy them in the throes of some panic, you know, that you sort of take the attitude of a mortician, you know, waiting for a flu epidemic or something.
I mean — (laughter) — it — I’m not sure that will be a great technique. I mean, it may be great if you inherit. You know, Paul Getty inherited the money at the bottom, in ’32. I mean, he didn’t inherit it exactly. He talked his mother out of it. But — (laughter) — it’s true, actually.
You can find the entire discussion here:

https://acquirersmultiple.com/2024/08/warren-buffett-dont-wait-for-a-price-drop-to-buy-a-great-company/

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

During the 1996 Berkshire Hathaway Annual Meeting, Warren Buffett discussed the value of investing in truly great companies that will remain strong for decades.
He advises against trying to time the market or waiting for a financial crisis to buy stocks at a discount, as great companies are rare and difficult to find. Instead, Buffett suggests buying and holding onto these companies long-term, with the confidence that they will thrive over time.
Here’s an excerpt from the meeting:
Buffett: Yeah. Well, I won’t comment on the three companies that you’ve named. But in general terms, unless you find the prices of a great company really offensive, if you feel you’ve identified it — And by definition, a great company is one that’s going to remain great for 30 years.
If it’s going to be a great company for three years, you know, it ain’t a great company. I mean, it — (Laughter) So, you really want to go along with the idea of something that, if you were going to take a trip for 20 years, you wouldn’t feel bad leaving the money in with no orders with your broker and no power of attorney or anything, and you just go on the trip.
And you know you come back, and it’s going to be a terribly strong company. I think it’s better just to own them. I mean, you know, we could attempt to buy and sell some of the things that we own that we think are fine businesses. But they’re too hard to find.
I mean, we found See’s Candy in 1972, or we find, here and there, we get the opportunity to do something. But they’re too hard to find. So, to sit there and hope that you buy them in the throes of some panic, you know, that you sort of take the attitude of a mortician, you know, waiting for a flu epidemic or something.
I mean — (laughter) — it — I’m not sure that will be a great technique. I mean, it may be great if you inherit. You know, Paul Getty inherited the money at the bottom, in ’32. I mean, he didn’t inherit it exactly. He talked his mother out of it. But — (laughter) — it’s true, actually.
You can find the entire discussion here:

https://acquirersmultiple.com/2024/08/warren-buffett-dont-wait-for-a-price-drop-to-buy-a-great-company/

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

When to sell?

The same factors used to select and avoid stocks are used to decide which stocks to sell and when.


Sales are indicated when the key factors supporting an original buy are gone. Here is a summary of such factors:

(1) Internal:

dubious management behaviour,
vague disclosure or complex accounting,
aggressively increased merger activity,
dizzying executive compensation packages.

(2) External:

intensifying new competition,
disruptive technological onslaughts,
deregulation,
declining inventory and receivables turns.

(3) Economic:

shrunken profit margins;
declining returns on equity, assets, and investment;
earnings erosion;
debt increased aggressively in relation to equity;
deterioration in current and quick ratios.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 month ago | Report Abuse

Value investors avoid selling when bad news is temporary. Single-quarter profit margin slippage should provoke questions, but not sales orders. If investigation shows deeper problems, then the condition might be permanent and selling indicated. Permanent deterioration requires more evidence.

When in doubt concerning where deterioration is temporary or permanent, value investing might include a hedging strategy. This would call for selling some but less than all shares held.

Value investors never sell solely due to falling prices. They require some evidence related to the declining intrinsic value of the business to warrant a revision in the hold-or-sell calculus. Stock price fluctuations are far too fickle to influence such an important decision.

In the case of a preset policy to sell when price reaches a certain high level, many value investors follow the same mixed strategy adhered to when unsure whether a development is permanent or temporary: selling some, but not all.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 3 weeks ago | Report Abuse

Investing versus Speculation

What is the difference between investing and speculation?

Benjamin Graham addressed the differences between them on the very first page of his book, The Intelligent Investor.

Graham wrote, "An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return."

Based on this definition, there are three components to investing:

thorough analysis,
safety of principal, and
adequate return.

Graham added, "Operations not meeting these requirements are speculative."


To this, we can add:

(1) Any contemplated holding period shorter than a normal business cycle (typically 3 to 5 years) is speculation, and

(2) any purchase based on anticipated market movements or forecasting is also speculation.



Value investing meets Graham's definition of investing, addressing on: its focus on individual company analysis to determine intrinsic value, the margin of safety concept, and its success over the long term.

The distinction between investing and speculation is important for a reason Graham cited in 1949 and remains true today: "... in the easy language of Wall Street, everyone who buys or sells a security has become n investor regardless of what he buys, or for what purpose, or at what price...."

The financial media often refers to "investors" taking profits, bargain hunting, or driving prices higher or lower on a particular day. However, these actions are rightly attributed to speculators, not investors.



Investors and speculators approach their tasks differently.

Investors want to know what a business is worth and imagine themselves as owning the business as a whole. Unlike speculators, investors maintain a long-term perspective—at least 3 to 5 years. They look at a company from the perspective of owners. This means they’re interested in factors such as corporate governance, structure, and succession issues that may affect a company’s future and its ability to create wealth for years to come. Investors may use their voting rights to assist in enhancing company value over the long term.



Speculators, on the other hand, are less interested in what a business is actually worth and more concerned with what a third party will pay to own shares on a given day. They may be concerned only with short-term changes in a stock’s price, not in the underlying value of the company itself.


The problem with speculation is simple:

Who can predict what a third party will pay for your shares today, tomorrow, or any day?

Stock market prices typically swing between extremes, stoked by the irrational emotions of fear and greed.




Focus on the long term business value

Such dramatic price fluctuation on a day-to-day basis can test long-term investors’ mettle in maintaining their focus on business value.

Remember, the tendency is for business values day-to-day to remain relatively stable.

Day-to-day price changes should hold little interest for the long-term investor, unless a price has fallen to the “buying level” that represents a sizable margin of safety.

But that’s often difficult to remember when newspaper headlines, TV news anchors, friends, and coworkers are lamenting or lauding the market’s most recent lurch forward or back.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 3 weeks ago | Report Abuse

[KMLOONG]: KIM LOONG RESOURCES BHD

15 hours ago | Report Abuse

FYE JAN 2024

INCOME STATEMENT
Rev 1526m
Gross Income 276m
EBIT 219m
Interest exp 2m
PBT 232m
PAT 148m

BALANCE SHEET
CA 514M
TA 1257M

CL 149m
TL 276m
TEq 980m

Cash 419m
ST Debt 16m
LT Debt 35m


CASH FLOW STATEMENT
FFO 235m
NOCF 235m

CAPEX (45m)
Cash Dividends 145m

FCF 190m
FCF Yield 2.28%


FINANCIAL DATA

PRICE 2.45
Market Cap 2.393b
No of Share 976.76
ROE 19.28% P/B 2.78 NTA 0.88
EPS 16.97 sen PER 14.44
Dividend 13 sen
DY 5.31%

FCF 226.28m

Net Cash RM 379.76m (16%)
Net Cash per share RM 0.39


TSH RESOURCES BHD

15 hours ago | Report Abuse

FYE Dec 2023

INCOME STATEMENT
Revenues 1067m
Gross Income 398m
EBIT 181m
Interest exp 20m
PBT 190m
PAT 95m

BALANCE SHEET
CA 645m
TA 2845m

CL 318m
TL 540m
TEq 2047m

Cash & Eq 250m
ST Debts 192m
LT Debts 112m

CASH FLOW STATEMENT
Net income 197.8m
D&A 101.4m
FFO 195.6m
CWC 34.3m
NOCF 230m

Capex (64.1m)

Dividends Paid (35.5m)

FCF 165.9m
FCF Yield 9.77%


FINANCIAL DATA
Price 1.13
Market Cap 1.56b
No of shares 1.382b
ROE 4.75%
NTA 1.456
P/B 0.77
EPS 6.92 sen
PER 16.33
Dividend 2.5 sen
DY 2.21%
DPO Policy 20%

FCF 194.31 m


JAYA TIASA HOLDINGS BHD

16 hours ago | Report Abuse

12 months FYE 30/6/2024

INCOME STATEMENT
Revenue 1,015.8 m
Gross Profit 305.7 m
Operating Profit 227.2 m
Finance costs 18.5 m
PBT 206.6 m
Net Profit 141.1 m

BALANCE SHEET
NCA 1,595.6m
CA 395.7m
TA 1981.3m

CL 141.9m
NCL 175.6m
TL 454.2m

Equity 1,527.1m

Cash & Eq 283.0m
STL & Borrowings 57.7m
LTL & Borrowings 136.6m

Net Asset per Share 1.58
No of ord shares 967.991m

CASH FLOW STATEMENT
PBT 206.6m
D&A 137.7m
OCFBWCC 395.9m
CFO 391.8m
NCF from operating activities 360.0 m

Acquisition of subsidiaries (52.3m)
Acquisition of PPE (49.3m)

Dividend paid (40.7m)

FINANCIAL INFORMATION
JTIASA
Share price 1.070
Market cap 1.042b
ROE 9.14%
P/B 0.68
NTA 1.58
EPS 14.44 sen
PER 7.41
DPO policy 20%
Dividend 3.2 sen
DY 2.99%

FCF 307.4m

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 3 weeks ago | Report Abuse

KIM LOONG
FYE JAN 2024

INCOME STATEMENT
Rev 1526m
Gross Income 276m
EBIT 219m
Interest exp 2m
PBT 232m
PAT 148m



TSH
FYE Dec 2023

INCOME STATEMENT
Revenues 1067m
Gross Income 398m
EBIT 181m
Interest exp 20m
PBT 190m
PAT 95m


JAYA TIASA
12 months FYE 30/6/2024

INCOME STATEMENT
Revenue 1,015.8 m
Gross Profit 305.7 m
Operating Profit 227.2 m
Finance costs 18.5 m
PBT 206.6 m
Net Profit 141.1 m

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 3 weeks ago | Report Abuse

After a long run, the stock market is a weighing machine.

Cathie Wood of Ark Invest is a "speculator and gambler".

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2 weeks ago | Report Abuse

Calvin Tan
Iinvestor Blogger
Calvin Tan
With 31 years of experience, Calvin began his
investing journey in 1992 with an IPO bui
struggled with losses for many years. When
Calvin stumbled upon a book by Dr. Neoh
Soon Kean on value investing , in the year
2005, and has been applying these principles
to his trading strategy. Since then, he has
managed to make up for his past losses and
also achieved significant profits from his
investments. Now, as a firm believer in the
power of valle investing, Calvin is passionate
about sharing his knowledge with others.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2 weeks ago | Report Abuse

With the MYR strengthening against the US, this should be positive for the profit margins of DLady, Nestle and Padini.