Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-27 22:19 | Report Abuse

Earnings and Earnings Growth

Both earnings and book value have a place in securities analysis but must be used with caution and as part of a more comprehensive valuation effort.

Earnings per share has historically been the valuation yardstick most commonly used by investors. Unfortunately, as we shall see, it is an imprecise measure, subject to *manipulation and accounting vagaries. It does not attempt to measure the cash generated or used by a business. And as with any prediction of the future, earnings are nearly impossible to forecast.

Corporate managements are generally aware that many investors focus on growth in reported earnings, and a number of them gently massage reported earnings to create a consistent upward trend. A few particularly unscrupulous managements play accounting games to turn deteriorating results into improving ones, losses into profits, and small profits into large ones.

Even without manipulation, analysis of reported earnings can mislead investors as to the real profitability of a business. Generally accepted accounting practices (GAAP) may require
actions that do not reflect business reality.

- By way of example, amortization of goodwill, a *noncash charge* required under GAAP, can artificially depress reported earnings; an analysis of cash flow would better capture the true economics of a business.

- By contrast, *nonrecurring gains* can boost earnings to unsustainable levels, and should be ignored by investors.

Most important, whether investors use earnings or cash flow in their valuation analysis, it is important to remember that the numbers are not an end in themselves. Rather they are a means to understanding what is really happening in a company.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-27 22:30 | Report Abuse

Book Value

What something cost in the past is not necessarily a good measure of its value today. Book value is the historical accounting of shareholders’ equity, the residual after liabilities are subtracted from assets.

Sometimes historical book value (carrying value) provides an accurate measure of current value, but often it is way off the mark.

Current assets, such as receivables and inventories, for example, are usually worth close to carrying value, although certain types of inventory are subject to rapid obsolescence.

Plant and equipment, however, may be outmoded or obsolete and therefore worth considerably less than carrying value. Alternatively, a company with fully depreciated plant and equipment or a history of write-offs may have carrying value considerably below real economic value.

Inflation, technological change, and regulation, among other factors, can affect the value of assets in ways that historical cost accounting cannot capture.

- Real estate purchased decades ago, for example, and carried on a company’s books at historical cost may be worth considerably more.

- The cost of building a new oil refinery today may be made prohibitively expensive by environmental legislation, endowing older facilities with a scarcity value.

- Aging integrated steel facilities, by contrast, may be technologically outmoded compared with newly built mini mills. As a result, their book value may be significantly overstated.

Reported book value can also be affected by management actions. Write-offs of money-losing operations are somewhat arbitrary yet can have a large impact on reported book value.

Share issuance and repurchases can also affect book value. Many companies in the 1980s, for example, performed *recapitalizations, whereby money was borrowed and distributed to shareholders as an extraordinary dividend. This served to greatly reduce the book value of these companies, sometimes below zero.

Even the choice of accounting method for mergers – purchase or pooling of interests – can affect reported book value.

To be useful, an analytical tool must be consistent in its valuations. Yet, as a result of accounting rules and discretionary management actions, two companies with identical tangible assets and liabilities could have very different reported book values. This renders book value not terribly useful as a valuation yardstick.

As with earnings, book value provides limited information to investors and should only be considered as one component of a more thorough and complete analysis.

Posted by stockraider > 2022-12-27 22:34 | Report Abuse

The book value is something of good value measurement today, basing on recent forward new accounting standard where almost everything is reflected as current value mah!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-27 23:10 | Report Abuse

TSH

Fiscal year is January-December. All values MYR Thousands.
Quarter 30-Sep-2022 30-Jun-2022
Sales/Revenue 262,652.0 424,413.0
Cost of Goods Sold (COGS) incl. D&A 168,028.0 258,775.0
Gross Income 94,624.0 165,638.0
SG&A Expense 121,439.0 50,967.0
Non Operating Income/Expense 301,367.0 15,987.0
Pretax Income 283,349.0 60,994.0


Questions:

1. Why did the revenue drop so much this latest quarter?
2. Why did the SGA expenses rise so much this latest quarter, despite a lower revenue?
3. The Gross Profit was less than the SGA in the latest quarter, therefore, the company reported a loss in its business operations for this period.
4. The big profit reported was due to a one-off non-recurrent non-operating income.
5. Did the company take the opportunity to clean up its books in this quarter, by taking all the charges in this quarter, thereby the markedly increased SGA expenses.

Of course, I may be absolutely wrong! But worth inspecting into these figures, nonetheless.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-29 07:45 | Report Abuse

Markets exist because of differences of opinion among investors. If securities could be valued precisely, there would be many fewer differences of opinion; market prices would fluctuate less frequently, and trading activity would diminish.

To fundamentally oriented investors, the value of a security to the *buyer must be greater than the price paid, and the value to the *seller must be less, or no transaction would take place.

The discrepancy between the buyer’s and the seller’s perceptions of value can result from such factors as
- differences in assumptions regarding the *future,
- different intended *uses for the asset, and
- differences in the *discount rates applied.

Every asset being bought and sold thus has a possible range of values bounded by the value to the buyer and the value to the seller; the actual transaction price will be somewhere in between.

Posted by ahbah > 2022-12-30 21:11 | Report Abuse

"Overall, the FBM KLCI is trading at around 13 times the price-to-earnings ratio as compared with its five-year average of around 18 times, hence still offering potential upsides," he told Bernama.

Bursa still got angpow$$$ to give to us ?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-30 23:09 | Report Abuse

KLSE CI
Market valuation
22.12.2022

PE ratio 16.08
DY 4.22%
P/BV 1.49
FBM KLCI 1,468.35

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 07:49 | Report Abuse

Four principles for successful, long-term investing:

1. Invest regularly, regardless of market conditions;
2. Reinvest all earnings;
3. Invest in growth companies and
4. Diversify to reduce risk.


The heart of this investment approach to investing is the third principle — investing in growth companies.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 07:50 | Report Abuse

https://www.investopedia.com/terms/g/growthcompany.asp
Growth company

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 07:53 | Report Abuse

What Is a Growth Company?

A growth company is any company whose business generates significant positive cash flows or earnings, which increase at significantly faster rates than the overall economy. A growth company tends to have very profitable reinvestment opportunities for its own retained earnings. Thus, it typically pays little to no dividends to stockholders, opting instead to put most or all of its profits back into its expanding business.

KEY TAKEAWAYS
- A growth company is one in which its business generates positive cash flows or earnings faster than the overall economy.
- Growth companies typically reinvest their earnings back into the company as opposed to paying out dividends to continue spurring growth.
- Growth companies stand in contrast to mature companies, those that tend to report stable earnings with little to no growth.
- Mature companies typically have an easier time obtaining financing than growth companies because of their established business and financials.
- Investors in growth companies are not focused on dividend income but rather on the appreciation of the company's share price.

In today's economy, which sector is characterized as having many growth companies?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 08:02 | Report Abuse

Growth Companies During Bull and Bear Markets

During bull markets, growth stocks are preferred and tend to outperform value stocks because of environmental risk and the perceived low risk in the markets. However, growth stocks tend to underperform value stocks during bear markets because weak economic activity hinders sales growth and the growth engine that drives the stocks higher.

Mature companies tend to weather bear markets better than growth companies as they are firmly rooted within their industry, have a dedicated consumer base, are well-known, and have stronger financials, such as larger cash reserves to ride out the poor performing economy.

Mature companies also have an easier time raising capital in difficult economic times because of the fact that they are established and their credit is proven; growth companies often have less established financials so obtaining a loan, for example, may be more difficult. This is why growth companies often receive capital from venture capital firms or angel investors. This additional capital can be imperative to helping some growth companies survive an economic downturn.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 08:07 | Report Abuse

Three growth stocks (with more expensive valuations than the S&P 500), Google, Tesla, and Amazon are also the leaders in their respective niche industries.

1. Google is continuing its technology conglomerate-status by expanding into new technologies such as *artificial intelligence*.

2. Tesla is the popular *electric car maker and undisputed leader* of the industry.

3. Amazon continues to disrupt the retail sector through its *e-commerce platform*, which takes away business from traditional brick-and-mortar retail competitors.

Those are attractive narratives for investors looking for growth to continue into the future.

That being said, these three companies are also now fairly established within their industries and are considered solid investments that have very different characteristics from when they started out as small companies years ago.

Many growth companies exist in different sectors, one being Etsy (ETSY), the e-commerce retail platform that sells a large array of vintage and craft items.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 08:13 | Report Abuse

Understanding a Growth Company

Growth companies have characterized the technology industry. The quintessential example of a growth company is Google, which has *grown revenues, cash flows, and earnings substantially* since its initial public offering (IPO).

Growth companies such as Google are expected to increase their profits *markedly* in the future; thus, the market bids up their share prices to *high valuations*.

This contrasts with *mature companies*, such as utility companies, which tend to report *stable earnings with little to no growth*.


Main points:

- Growth companies create value by continuing to *expand above-average earnings, free cash flow, and spending on research and development*.

- Growth investors are less worried about the dividend growth, high price-to-earnings ratios, and high price-to-book ratios that growth companies face because the *focus is on sales growth and maintaining industry leadership.*

Overall, growth stocks *pay lower dividends* than value stocks because profits are *reinvested* in the business to *drive earnings growth*.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 08:29 | Report Abuse

In the 1990s, Petdag was a growth company. It soon saturated the market. For every existing Shell station, you can now also find a Petronas station nearby. It is now a matured company. A fast grower is now a stalwart. Petdag generates a lot of cash from its business operations.
It used to reinvest close to RM 500 m in capex in its early years. Now its capex requirement is less and it is paying more of its earnings as dividends.

Nestle is a company with extremely strong economic moat. Perhaps, the strongest there is among the companies in KLSE. Its growth is in the high single digit. More importantly, this growth is steady and consistent, almost predictable for many years. Growth comes from increase in the population and also exports of its halal products. It is nevertheless a growth company too, abeit not a fast grower. Due to its quality earnings that translate into high operating cash flow and minimal need for maintainance or reinvestment capex, it distributes almost all its free cash flow as dividends. Its market price is high, since it is well supported by those who invested in it.

There are also many growth companies in Bursa. Only problem is to find those which can growth its earnings over a LONG PERIOD (not easy). Also, the earnings growth must be GROWING CONSISTENTLY FOR LONG PERIOD (harder still). A problem faced by growth investors is when growth stalls, the stock price can fall a lot. Therefore, it is very important to ensure that the company or companies invested in must enjoy some competitive advantage in their services or products that people love and also determine they have a long run way.

Not all such companies chosen will turn out to be profitable investments. Beware of the risks involved in investing in growth stocks. Always look at risks before looking at the rewards.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 15:36 | Report Abuse

It’s better to buy a wonderful company at fair price than a fair company at wonderful price.

1. Understand the business
2. Business must have DCA
3. Management with integrity
4. Buy at a sensible price

Big Fat Pitch. Focus Investing. Long term portfolio for capital appreciation and income.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 15:47 | Report Abuse

HEIM

I bought this stock in the 1990s. I am still holding this stock.
I paid a certain price for this stock. It was giving good dividends yearly. Then 1997 appeared, and its share price remained below my buying price until early 2000s.
After about 10 years of holding this stock with most years when its share price was below my buying price, I added up the returns from this stock. Its DY was 8% to 9% per year, and I have already received almost all my capital in this stock in dividends.

The share price of Guinness (as HEIM was known then), soon went above my buying price. What a lovely feeling too. But more importantly, I learned another lesson.

You bought a company at price X and the share price subsequently went down for many years before retouching the buying price. How can you profit from such price behaviour of this stock? 1. If it is dividend paying, you would have made a gain above your buying price. 2. If you bought more stocks at the lower price, and when the stock retouched its old price, you would have made money, even if the stock did not pay any dividend. You can only have the confidence to average down in those stocks deemed of high quality business with economic moats.

At today's high price for HEIM, this is another multi-bagger in my portfolio. You can only see these multi-baggers in general if you are a long term investor.

Posted by ahbah > 2022-12-31 17:34 | Report Abuse

He said Rakuten Trade is maintaining its end-2023 KLCI target at 1,800, despite global equity markets in cautious mode, given the heightened market volatility and still unresolved Russia-Ukraine war.

end-2023 KLCI target at 1,800 ... still a veri good target for us to make esi moni ?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:10 | Report Abuse

WHAT IS RISK?

The major RISK facing you is the possibility of not reaching your long-term investment goal through the growth of your funds in real terms.

And the greatest enemy of reaching those goals is INFLATION. Nothing is safe from inflation.
Short-term price volatility is NOT risk for investors who have time horizons 5, 10, 15 or 30 years away. Volatility is the friend of the long term investor.

The most important friends of your investment goal are COMPOUNDING and TIME.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:12 | Report Abuse

CAPITAL EXPENDITURE

Capital Expenditures are expenses on:
- fixed assets such as equipment, property, or industrial buildings
- fixing problems with an asset
- preparing an asset to be used in business
- restoring property
- starting new businesses

A good company will have a ratio of Capital Expenditures to Net Income of less than 50%.

A great company with a Durable Competitive Advantage will have a ratio of less than 25%.

Less is better.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:16 | Report Abuse

SELL THE LOSERS, LET THE WINNERS RUN.

Losers refer NOT to those stocks with the depressed prices but to those whose revenues and earnings *aren't capable of growing adequately*.

*Weed out* these losers and *reinvest* the cash into other stocks with *better revenues and earnings potential for higher returns*.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:18 | Report Abuse

SOME THOUGHTS ON ANALYSING STOCKS (KISS)

Ideally a stock you plan to purchase should have all of the following characteristics:

• A rising trend of earnings, dividends and book value per share.
• A balance sheet with less debt than other companies in its particular industry.
• A P/E ratio no higher than average.
• A dividend yield that suits your particular needs.
• A below-average dividend pay-out ratio.
• A history of earnings and dividends not pockmarked by erratic ups and downs.
• Companies whose ROE is 15 or better.
• A ratio of price to cash flow (P/CF) that is not too high when compared to other stocks in the same industry.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:20 | Report Abuse

MARKET FLUCTUATIONS OF INVESTOR'S PORTFOLIO

Note carefully what Graham is saying here.

It is not just possible, but probable, that most of the stocks you own will gain at least 50% from their lowest price and lose at least 33% ("equivalent one-third") from their highest price -regardless of which stocks you own or whether the market as a whole goes up or down.

If you can't live with that - or you think your portfolio is somehow magically exempt from it - then you are not yet entitled to call yourself an investor.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:23 | Report Abuse

ALL EQUITY SECURITY INVESTMENTS PRESENT A RISK OF LOSS OF CAPITAL

Investment performance is not guaranteed and future returns may differ from past returns.

As investment conditions change over time, past returns should not be used to predict future returns.

The results of your investing will be affected by a number of factors, including the performance of the investment markets in which you invest.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:24 | Report Abuse

PHILIP FISHER'S WISE WORDS

"The refusal to sell at a loss, while completely natural and normal, is probably one of the most dangerous in which we can indulge ourselves in the entire investment process.

More money has probably been lost by investors holding a stock they really did not want until they could 'at least come out even' than from any other single reason.

If to these actual losses are added the profits that might have been made through the proper reinvestment of these funds if such *reinvestment* had been made *when the mistake was first realized, the cost of self-indulgence becomes truly tremendous.*"

(Common Stocks and Uncommon Profits)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:26 | Report Abuse

THE BEST STOCK INVESTMENT STRATEGY

Keep it simple. Keep it safe (make money with *less risk taking*).

You don't need to pick the best stock or even the best stock funds to do well, if you have an *investment strategy* that *keeps you out of trouble*.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:27 | Report Abuse

Think of your physical, mental and social well-being. Money may not buy happiness.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-31 21:28 | Report Abuse

Is it not true, that the *really big fortunes* from common stocks have been garnered by those
who made a *substantial commitment in the early years* of a company in whose future they had *great confidence* and who *held their original shares unwaveringly* while they increased 10-fold or 100-fold or more in value?

The answer is "Yes."

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-01 09:17 | Report Abuse

The 4 reasons for selling (in order of priorities):

1. You will need to sell URGENTLY (QUICKLY) if there is something wrong with the fundamental of your stock (example: fraudulent accounting, etc). At other instances, you do have the time to SELL at leisure.

2. Your stock has gone up too high. By your assessment, at that price the upside return is less, but the downside risk is more, then you may wish to sell to REINVEST INTO ANOTHER STOCK WITH MORE FAVOURABLE UPSIDE REWARD/DOWNSIDE RISK RATIO.

3. On occasions, you have identified a very good BARGAIN, you may wish to sell some of your stocks to REINVEST into these stocks to capture a higher upside/downside reward risk ratio that these stocks offer.

4. If you need cash for emergency. (But then, hopefully, you will have separate money for such emergencies. The cash invested into the market should be separate.)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-01 09:30 | Report Abuse

Strategies for buying:

A. Assess Quality and Management first, and then only Valuation (QMV)

B. Buy good quality stocks.

C. Buy these stocks at a discount (Margin of Safety)

(If you select your stocks carefully, often one can hold them for long periods. The idea is to allow compounding over the long period to work in your favour.)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 06:55 | Report Abuse

"Risk is brewed from an equal dose of two ingredients - probabilities and consequences."

Before you invest, you must ensure:

1. that you have realistically assessed your PROBABILITY of being right and

2. how you will react to the CONSEQUENCES of being wrong.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 06:59 | Report Abuse

The Nobel-prize-winning psychologist Daniel Kahneman explains two factors that characterize good decisions:

1. Do I understand this investment as well as I think I do?
("Well-calibrated confidence")

2. How will I regret if my analysis turns out to be wrong?
("Correctly-anticipated regret")

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 07:09 | Report Abuse

"Do I fully understand the consequences if my analysis turns out to be wrong?" Answer that question by considering these points:

- If I'm right, I could make a lot of money. But what if I'm wrong? Based on the historical performance of similar investments, *how much could I lose*?

- Do I have *other investments* that will tide me over if this decision turns out to be wrong? Do I already hold stocks, bonds, or funds with a proven record of going up when the kind of investment I'm considering goes down? Am I putting *too much of my capital at risk* with the new investment?

- When I tell myself, "You have a *high tolerance for risk*," how do I know? Have I ever lost a lot of money on an investment? How did it feel? Did I *buy more, or did I bail out*?

- Am I relying on my willpower alone to prevent me from *panicking at the wrong time*? Or have I controlled my own behaviour in advance by *diversifying, signing an investment contract, and dollar-cost averaging*?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 07:22 | Report Abuse

Is your confidence well-calibrated? Ask yourself: "What is the likelihood that my analysis is right?" Think carefully through these questions:

- How much experience do I have? What is my *track record with similar decisions in the past*?

- What is the typical track record of *other people who have tried this in the past*?

- If I am buying, someone else is selling. How *likely is it that I know something* that this other person (or company) does not know?

- If I am selling, someone else is buying. How likely is it that *I know something* that this other person (or company) does not know?

- Have I calculated how much this investment needs to go up for me to *break even* after my taxes and costs of trading?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 07:26 | Report Abuse

The risk is not in our stocks, but in ourselves.

If you want to know what risk really is, go to the nearest bathroom and step up to the mirror. That's risk, gazing back at your from the glass.

What kind of investor are you?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 07:30 | Report Abuse

Investment Policies (Based on Benjamin Graham)

INVESTMENT CHIEFLY FOR PROFIT:
FOUR approaches are open to both the small and the large investors:

(1) Representative common stocks bought when the MARKET level is clearly LOW.
(2) GROWTH STOCKS, when these can be obtained at reasonable prices in relation to actual accomplishment – GROWTH INVESTING.
(3) Purchase of securities selling well BELOW INTRINSIC VALUE – VALUE INVESTING.
(4) Purchase of WELL-SECURED PRIVILEGED SENIOR ISSUES (bonds and preferred shares).
(5) SPECIAL SITUATIONS: Mergers, arbitrages, cash pay-outs.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 07:45 | Report Abuse

iCap

Market price $2.00
NAV 3.27
Price / NAV = 61%
Price is trading at 39% discount to NAV. (4.1.2023)

Closed end fund often trade at a discount to its NAVs. This discount is not unusual.

Why is iCap trading at a huge discount of 39% to its NAV?

Mr. TTB has written volumes on the likely reasons with little or no impact on this discount gap. He highlighted the activities of a significant institutional shareholder and has even taken it to court to prevent them from adding more shares as is written in the constitution of this fund.

Why is iCap not able to shrink this gap?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 07:46 | Report Abuse

iCap

Market price $2.00
NAV 3.27
Price / NAV = 61%
Price is trading at 39% discount to NAV. (4.1.2023)

Closed end fund often trades at a discount to its NAV. This discount is not unusual.

Why is iCap trading at a huge discount of 39% to its NAV?

Mr. TTB has written volumes on the likely reasons with little or no impact on this discount gap. He highlighted the activities of a significant institutional shareholder and has even taken it to court to prevent them from adding more shares as is written in the constitution of this fund.

Why is iCap not able to shrink this gap?

Posted by stockraider > 2023-01-04 16:14 | Report Abuse

This bcos icap corp governance issue loh!
TTB act to benefit himself instead of the interest of CO & shareholders mah!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:05 | Report Abuse

Average down—to buy more of a security for less than one’s earlier purchase price(s), resulting in a reduction of the average cost

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:07 | Report Abuse

Bear market—an environment characterized by generally declining share prices.

Bull market—an environment characterized by generally rising share prices.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:10 | Report Abuse

Bond—a security representing a loan to a business or government entity

Callable bond—a bond that may be retired by the issuer at a specified price prior to its contractual maturity (see puttable bond)

Puttable bond—bond with embedded put features allowing holders to sell the bonds back to the issuer at a specified price and time (see callable bond)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:12 | Report Abuse

Bottom—up investing-strategy involving the identification of specific undervalued investment opportunities one at a time through fundamental analysis

Top-down investing—strategy involving making a macroeconomic forecast and then applying it to choose individual investments

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:13 | Report Abuse

Call option—a contract enabling the owner to purchase a security at a fixed price on a particular date (see put option)

Put option—a contract enabling the purchaser to sell a security at a fixed price on a particular date

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:14 | Report Abuse

Breakup value—the expected proceeds if the assets of a company were sold to the highest bidder, whether as a going concern or not (see liquidation value)

Liquidation value—the expected proceeds if the assets of a company were sold off, but not as part of an ongoing enterprise

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:16 | Report Abuse

Cash flow—the cash gain or loss experienced by a business during a particular period of operations

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:17 | Report Abuse

Cash-pay securities—securities required to make interest or dividend payments in cash (see non-cash-pay securities)

Non-cash-pay securities—securities permitted to pay interest or dividends in kind or at a later date rather than in cash as due (see cash-pay securities, pay-in-kind, and zero-coupon bond)

Pay-in-kind (PIK)—a security paying interest or dividends in kind rather than in cash

Zero-coupon bond—a bond that accrues interest until maturity rather than paying it in cash

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:20 | Report Abuse

Arbitrage— the practice of investing in risk-free transactions to take advantage of pricing discrepancies between markets (see risk arbitrage)

Risk arbitrage—a specialized area involving investment in far-from-risk-free takeovers as well as spinoffs, liquidations, and other extraordinary corporate transactions.

Arbitrageur—investor in risk-arbitrage transactions

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:22 | Report Abuse

Asked price (offer)—the price at which a security is offered for sale (see bid price)

Bid price—the price a potential buyer is willing to pay for a security (see asked price)

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:22 | Report Abuse

Catalyst—an internally or externally instigated corporate event that results in security holders realizing some or all of a company’s underlying value

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-04 20:23 | Report Abuse

Bankruptcy—a legal state wherein a debtor (borrower) is temporarily protected from creditors (lenders); under Chapter 11 of the federal bankruptcy code, companies may continue to operate

Chapter 11—a section of the federal bankruptcy code whereby a debtor is reorganized as a going concern rather than liquidated (see bankruptcy)