Posted by 3iii > 2019-01-06 20:41 | Report Abuse

>>>>
Investment Policies (Based on Benjamin Graham)
Summary of Investment Policies

A. INVESTMENT FOR FIXED INCOME:
US Savings Bonds (FDs or Amanah Sahams for Malaysians)

B. INVESTMENT FOR INCOME, MODERATE LONG-TERM APPRECIATION AND PROTECTION AGAINST INFLATION:
(1) INVESTMENT FUNDS bought at reasonable price.
(2) Diversified list of primary common stocks (BLUE CHIPS) bought at reasonable price. <<<


If you are a defensive investor, your portfolio should be in A & B.

Even if you are an enterprising investor, the significant portion of your portfolio should also be in A & B.

Posted by 3iii > 2019-01-06 20:44 | Report Abuse

>>>Up_down I will revisit 3i portfolio again in next bear cycle...after ending of next bull run.
06/01/2019 18:21<<<



The stock market is cyclical.

To know how well your portfolio has performed, it is better to compare your portfolio value today with the comparable period of the previous cycle.

Posted by Icon8888 > 2019-01-06 20:58 | Report Abuse

This 3iii talks like warren Buffett

Check his portfolio then realise it is warrant buffalo

Posted by 3iii > 2019-01-06 21:05 | Report Abuse

I started investing in 1993.

From 1993 to 1997, the portfolio value showed gains.

My portfolio value showed some capital losses in the years of 1998, 1999 and maybe 2000. I kept almost all the stocks in my portfolio through the Asian Financial crisis.

In 2001, my portfolio value showed signicant gains.

Since then, my portfolio value has always shown gains.

During the 2008 and 2009 Global Subprime crisis. My portfolio value dropped between 20 to 30% but did not threatened my capital. The portfolio still showed gains in value above the capital invested.

The present portfolio has captured significant gains from capital appreciation and regular increasing dividends annually. It has to be a very severe bear market (the magnitude of the 1930s Great Depression) to threaten a loss of capital in the present portfolio.

Posted by ladagagaga > 2019-01-06 21:14 | Report Abuse

Hbiscus WC - Accumulation Done. Tomorrow, Hibiscus Mother Rally!?

https://klse.i3investor.com/blogs/ladygaga/188921.jsp

Posted by Icon8888 > 2019-01-06 21:25 | Report Abuse

Not only you, we did well over long run too

We just want you to know your superiority complex is misplaced

One year outperformance does not make you warren Buffett

Posted by enigmatic > 2019-01-06 21:35 | Report Abuse

3iii, don't bother the naysayers.
Different people have different opinions and methods of trading or investing. Some of us trust your advice.
You have done your best to advise us using the proper way.

Posted by 3iii > 2019-01-06 21:49 |

Post removed.Why?

Posted by 3iii > 2019-01-06 21:56 |

Post removed.Why?

Posted by 3iii > 2019-01-06 22:00 |

Post removed.Why?

Posted by Up_down > 2019-01-06 22:07 | Report Abuse

You will do well after 5 to 10 years no matter what has happened to the market. I will mimic your strategy once I get bore of being a momentum value trader. It's just the some conditions driving me to this direction since few years ago. It could be partly due to my eagerness to look for gems in the market. I got a long list on hand updating QR every quarter. I use my homework to project whole Malaysia market trend. It provides a reliable information for me to forecast bull or bear ahead. I like do this kind of job..so no choice for moving into this direction within such conditions. lolz

In general, I would advise my friends to adopt your strategy as it's not easy for being a momentum player due to high risk nature of trading and involving a lot of time to do homework.

Posted by 3iii > Jan 6, 2019 08:44 PM | Report Abuse

>>>Up_down I will revisit 3i portfolio again in next bear cycle...after ending of next bull run.
06/01/2019 18:21<<<



The stock market is cyclical.

To know how well your portfolio has performed, it is better to compare your portfolio value today with the comparable period of the previous cycle.

Posted by 3iii > 2019-01-06 22:16 |

Post removed.Why?

Posted by 3iii > 2019-01-07 06:52 |

Post removed.Why?

Posted by 3iii > 2019-01-07 06:55 | Report Abuse

http://www.investlah.com/forum/index.php/topic,11319.msg1541411.html#msg1541411
Re: Why Buy and Hold Will Always Be a Sound Investing Strategy




Why do people lose money in the stock market?

Only 2 basic recurring reasons:

1. They bought poor quality stocks. They think the stocks they bought were of high quality when in fact they were not.

2. They overpaid for their stocks.

Posted by 3iii > 2019-01-07 07:02 |

Post removed.Why?

Posted by Icon8888 > 2019-01-07 07:54 | Report Abuse

We don't question your strategy of investing in established companies. I don't see anything wrong, even if a bit slow

We just want you to know that our small and mid caps also work well over Long run

I typically suffered paper loss of 20% to 30% in times like 2001 and 2008 (1997 was Super nasty). Then when market normalised , due to depressed valuation , the small and mid caps will bounced back with a vengeance. It also provides opportunities for you to restructure portfolio by switching to better quality ones. If you play your cards right (which is not difficult as I have done that few times), the bounce back will be more than the paper loss previous year

That is how we roll and grow over the years to become big (you not the only one that can do it)

All I am saying is that please don't call our style gambling just because our portfolio shrinks more than you in a bear year . You need to understand us better before jumping into conclusion

I am doing exactly that by reading through your thread. A lot of useful concepts and comments .

Posted by 3iii > 2019-01-07 08:14 |

Post removed.Why?

Posted by 3iii > 2019-01-07 08:25 |

Post removed.Why?

Posted by 3iii > 2019-01-07 08:29 | Report Abuse

...and of course you need a sound investing philosophy, strategy and method which you can use as a guide and to implement effectively to achieve your goals based on your unique characteristics of:

Your investing objectives
Your time horizon
Your risk tolerance, and
Your financial capacity

Posted by Icon8888 > 2019-01-07 08:46 | Report Abuse

Last time I called myself value trader. However, after recently spending time reading Gurus' books , I am no more shy of calling myself "investors". According to the books I read, there are many very famous Western investors that operate the same way like us in i3 that punt second liners. They all proudly called themselves investors.

For example : John Neff

he is very much like many of us here in i3

contrarian, value based, churned his portfolio every now now then to keep it "fresh and relevant" (a term I like very much that I learn from qqq3)

that is why I dare to object when people like you who invest in "safe companies" condemns us for gambling

we are not gamblers, you will be surprised how many famous and successful investment gurus operate exactly like what many of us in i3 involved in second liners

Posted by qqq3 > 2019-01-07 08:46 | Report Abuse

Icon8888 > Jan 7, 2019 08:43 AM | Report Abuse

Last time I called myself value trader. However, after recently spending time reading Gurus' books , I am no more shy of calling myself "investors
===========


good for u....next stage just call yourself a trader la.....turnover every 6 months still trading mah.......

Posted by 3iii > 2019-01-07 08:52 | Report Abuse

My portfolio value annual turnover (churn) is very low.

Posted by Icon8888 > 2019-01-07 08:53 | Report Abuse

to qualify as investors instead of traders, investing horizon is not the key determining factor

a trader buy, and then let go, if things do not work out

an investor buy, and hold (and wait for recovery), if things do not work out

in order to "buy" and then "hold if things don't work out", you need to pick your stocks carefully

it is only applicable to stocks that face downward cycles, not structural decline (for example : buying Media Prima and hold is stupid)

managing a second liners portfolio requires a comprehensive strategy comprises many components. There are few things that you need to get it right

only then you can call yourself an investor


Posted by qqq3 > Jan 7, 2019 08:46 AM | Report Abuse

Icon8888 > Jan 7, 2019 08:43 AM | Report Abuse

Last time I called myself value trader. However, after recently spending time reading Gurus' books , I am no more shy of calling myself "investors
===========


good for u....next stage just call yourself a trader la.....turnover every 6 months still trading mah.......

Posted by 3iii > 2019-01-07 08:55 | Report Abuse

At 85, KYY is still refining his strategy.

Above all, a good strategy protects the downsides.

The upsides take care of themselves.

Posted by Icon8888 > 2019-01-07 08:57 | Report Abuse

KYY is neither an investor nor trader

he has evolved into an operator

Posted by qqq3 > 2019-01-07 08:59 | Report Abuse

Posted by 3iii > Jan 7, 2019 08:52 AM | Report Abuse

My portfolio value annual turnover (churn) is very low.
==========

fierce , very fierce...I always thought that is impossible for a i3 resident....

Posted by 3iii > 2019-01-07 08:59 |

Post removed.Why?

Posted by qqq3 > 2019-01-07 09:07 | Report Abuse

I thought it is bankrupt for sure?

Posted by qqq3 > 2019-01-07 09:17 | Report Abuse

d by Icon8888 > Jan 7, 2019 08:53 AM | Report Abuse

in order to "buy" and then "hold if things don't work out", you need to pick your stocks carefully
========

ok, agree

Posted by 3iii > 2019-01-07 16:11 |

Post removed.Why?

Posted by 3iii > 2019-01-08 19:49 | Report Abuse

http://www.investlah.com/forum/index.php/topic,59677.msg1147675.html#msg1147675


<<<<
calvintaneng
Knight
**
Posts: 249
View Profile Email Personal Message (Offline)

PM CORP(4081) THE BARGAIN OF THE CENTURY!!
« on: October 31, 2013, 10:23:12 PM »
Quote
Dear Friends,

If you are A Long Term Investor I would like to recommend

PM CORP(4081) THE BARGAIN OF THE CENTURY!!

Price now is 25 cents

Target Price RM1.50

Longer Term Target is RM10.00. RM10.00? YES! YES! & YES!!

PM CORP has The Potential Like NESTLE (RM68) & DUTCH LADY (RM46)

Check it OUT CAREFULLY ON PM CORP FORUM NOW

You will BE GLAD YOU DID

Best Regards,

Calvin of Singapore. >>>







How to take Calvin seriously if this is the quality of his analysis and post?

Posted by qqq3 > 2019-01-08 19:53 | Report Abuse

now that I know 3iii guy got these three features

...only good management stocks
...very low turnover of portfolio
....learn to say NO....

success over the 10- 20 years is practically guaranteed....

he indeed got some thing worth saying.....


already guaranteed to be better than kc's value here value there

and guaranteed to be better than calvin's bunch of dead stocks, lousy management stocks waiting for random events......

Posted by qqq3 > 2019-01-08 20:16 | Report Abuse

there only only two ways to make money from stock market...

1....u need a greater fool to take over your shares at a higher price

2....u participate in the growth of well managed and responsible companies.


every thing else is random......

Posted by qqq3 > 2019-01-08 20:17 | Report Abuse

when u actually think about 1 and 2 above...u can do some planning

Posted by hollandking > 2019-01-08 20:54 | Report Abuse

1 word, gambling.

Posted by hollandking > 2019-01-08 20:55 | Report Abuse

Should have a golden rule for gambling? Anyone?

Posted by hollandking > 2019-01-08 20:56 | Report Abuse

Need to ask professional gamblers, what is the golden rule of gambling, those i mean always make it out alive one, those cat with 9 lives type

Posted by Icon8888 > 2019-01-08 21:19 | Report Abuse

I actually like this thread prepared by 3iii

Even though I like second liners instead of dinosaurs, many of the info in this thread actually makes sense. I have a feeling it can play the role of a beacon that guides us back to sanity whenever we lose our way

It is like having an iced gold beer after eating ba b q. Not a bad thing

I am still comfortable with my second liners, but will try to incorporate some of the useful concepts from here to further improve my investment strategy.

Posted by VenFx > 2019-01-08 21:43 | Report Abuse

Pay peanut learn buffalo ?
Or pay hefty learn buffet ?

Anyway, good sharing...

Posted by Fabien Extraordinaire > 2019-01-08 21:47 | Report Abuse

Posted by qqq3 > Jan 8, 2019 07:53 PM | Report Abuse

now that I know 3iii guy got these three features

...very low turnover of portfolio


portfolio management should be dynamic.

every now and then, one should reevaluate its positioning in light of new information. i make a point to review my portfolio positions at least half yearly, revalue every stock to make sure no significant changes to the IV and there's enough MOS.

which is why it is important to build up an extensive watchlist. so that u can replace the old with new.

don't put a timeframe in "holding" ur stocks. sell when the gap between IV and current price narrows to 10-20% range.

Posted by 3iii > 2019-01-08 22:05 | Report Abuse

Over the years, 7 of my stocks were taken private. Some were painfully let go as they would be great businesses for the long term.

MOX
VADS
ICP
MAXIS
INTEGRAX
LATEXX
KAF

Posted by 3iii > 2019-01-08 22:13 |

Post removed.Why?

Posted by Icon8888 > 2019-01-08 22:23 | Report Abuse

Once again , I would like to point out that 3iii method might not be wrong, but there are many other methods that are equally valid

Nobody can claim that his method is the only correct method

I am reading John Neff. One of the most successful investor. He is exactly like what you mentioned below , churning his portfolio every two to three years on average to keep it fresh and relevant



Posted by Fabien Extraordinaire > Jan 8, 2019 09:47 PM | Report Abuse

portfolio management should be dynamic.

every now and then, one should reevaluate its positioning in light of new information. i make a point to review my portfolio positions at least half yearly, revalue every stock to make sure no significant changes to the IV and there's enough MOS.

which is why it is important to build up an extensive watchlist. so that u can replace the old with new.

don't put a timeframe in "holding" ur stocks. sell when the gap between IV and current price narrows to 10-20% range.

Posted by Icon8888 > 2019-01-08 22:30 | Report Abuse

John neff mitigates reinvestment risk by going contrarian, seeking out companies trading at Low PER and yet has potential to grow earnings in the not too distant future

I am still reading the book . Will share more after digesting it

Posted by Icon8888 > 2019-01-08 22:32 | Report Abuse

I might want to borrow 3iii thread for that purpose. Writing useful paragraphs every now and then (John neff), instead of one gigantic article

afterall, it is a 200 pages book

Posted by Icon8888 > 2019-01-08 22:55 | Report Abuse

Both 3iii and I have something in common : we both recognise reinvestment risk as one major obstacle for sustainable portfolio growth over Long term

He has chosen to give up fighting (sort of) by resorting to passive long term investment (which I in general do not have vital disagreement , but still find many questions unanswered. For example : what do you do with Nestle now when it has already reaped the benefit of PE multiple expansion as well as Low commodity price boosting margin ?).

The reason I am still sticking to proactive portfolio management is because I have seen people has successfully done it in real life over extended period of time (John neff is an example). I believe the concept of proactive portfolio management (two to three years as one cycle) is not inherently flawed. Instead, if it does not work well, is probably due to wrong implementation or methodologies. I believe doing in depth study of this particular aspect of investing might yield interesting insights that can help to improve our investing skills going forward

Posted by qqq3 > 2019-01-08 23:28 | Report Abuse

fabien, do what ever u want....if it works for u fine....

but all these talk about intrinsic value, blah blah blah....can work or not?

I find that too cliche, too common, too many factors....no winning edge.

nothing wrong with regular reviews.....but better is like long number from QL forum, every time he reviews, he still likes his stocks....9 years already. So well chosen, so carefully chosen, 9 years don't need change.....That is mark of excellence. 10 baggers still keeping...the guy learns to say NO to others.

.only good management stocks
...very low turnover of portfolio
....learn to say NO....


I am a trader with very high portfolio turnover....I am not like that. I can only talk, I cannot do....I am a high turnover guy, luckily I am making money too.....

Posted by qqq3 > 2019-01-08 23:43 | Report Abuse

ted by Icon8888 > Jan 8, 2019 10:23 PM | Report Abuse

, churning his portfolio every two to three years on average to keep it fresh and relevant
=====

yes, keeping it fresh and relevant, very important especially for a trader...also relevant for investors.....


key words being fresh and relevant ...and looking at the investment story far more important than just looking at PE ratios ( valuations)....

of course, there are people who like to sell over extended shares, no problem with that as long as it u are happy.....now, this is technical not fundamental....its trading......

Posted by qqq3 > 2019-01-09 00:55 | Report Abuse

the problem with books is that this is from experts point of view.

what about from the point of view of the common people?

Long number explained himself very well in QL forum...his method is applicable to the common people.....for those interested in stock market.....very selective, very focused, learn to say No.

Long number is a big hitter.

KYY is a big hitter.

These are people who sailang every thing.

For the small hitters how?

Posted by 3iii > 2019-01-09 07:29 | Report Abuse

https://www.valuewalk.com/john-neff/

John Neff Resource Page


John Neff is a value investor. He has met Benjamin Graham who has influenced his investing in his early years.

[Prefers Warren Buffett’s teaching. John Neff’s approach is a good one too.]