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)$€£¥ > 3 weeks 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)$€£¥ > 3 weeks 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)$€£¥ > 2 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)$€£¥ > 2 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)$€£¥ > 2 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)$€£¥ > 2 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)$€£¥ > 1 week ago | Report Abuse

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