tag:blogger.com,1999:blog-6897513886211197509.post8986879561925843969..comments2024-03-29T16:34:17.069+08:00Comments on Singapore Man of Leisure: Here's a question to Value InvestorsSingapore Man of Leisurehttp://www.blogger.com/profile/13774067113884418001noreply@blogger.comBlogger105125tag:blogger.com,1999:blog-6897513886211197509.post-33896294160755395792015-02-22T22:10:41.820+08:002015-02-22T22:10:41.820+08:00H,
Boy, am I glad I was respectful and serious in...H,<br /><br />Boy, am I glad I was respectful and serious in my reply to your comment.<br /><br />The principles of value investing is easy to comprehend, hence even I - a trader - is conversant with it. <br /><br />But to execute value investing well, it's best to let our track record do the talking.<br /><br />Once again, its a pleasure and privilege listening to your views and investing style.<br /><br />Cheers!Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-26216922280174647732015-02-22T15:24:27.320+08:002015-02-22T15:24:27.320+08:00Happy CNY to you too SMOL
what one perceives to b...Happy CNY to you too SMOL<br /><br />what one perceives to be under/overvalued is certainly arbitrary as a lot of assumptions have to go in to determine the elusive numbers that might represent a threshold of market valuation.<br /><br />it's as good as one having differing preferences to different cuisines. maybe buyer's remorse or any dissonance associated with one's purchase could be partially attributed to one not properly identifying his/her investment & risk preferences, and identifying that stock investment that might meet such preferences.Hhttps://www.blogger.com/profile/15559136599293826002noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-64489832895164908332015-02-22T10:52:41.026+08:002015-02-22T10:52:41.026+08:00H,
A happy CNY cheer to you! Gong Xi Fa Cai!
I&#...H,<br /><br />A happy CNY cheer to you! Gong Xi Fa Cai!<br /><br />I've a previous post having fun with those who like to split hairs on classifying traders and investors - <a href="http://singaporemanofleisure.blogspot.sg/2012/03/traders-and-investors-ebony-and-ivory.html" rel="nofollow">Ebony and Ivory</a><br /><br /><br />As for this post, it's a poke to "pseudo" value investors out there.<br /><br />The answer is really easy and simple. And the true value investors have already answered through their "silence" ;)<br /><br />Value investing is buying unwanted and unloved stocks and selling them when they are FULLY valued - mean reversion play.<br /><br />Growth investing is buying fully valued stocks and hoping to unload them when they are OVERVALUED as when the stock price has priced in all the good news - momentum play.<br /><br />The funny bit is what most "pseudo" value investors are actually buying at fully valued prices... Hence they have difficulty saying they will sell at overvalued prices because they have no clue what is "value"!?<br /><br />If they knew, they would not have bought in the first place; hence the cognitive dissonance ;)<br /><br />LOL!Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-24303579278312785672015-02-21T22:09:32.332+08:002015-02-21T22:09:32.332+08:00interesting responses here, though lots of brainpo...interesting responses here, though lots of brainpower appear to be wasted on the "debate" on the genres of investors available for classification, totally unnecessary imho. although i don't think there's a lot of rhetoric being exchanged, which is good.<br /><br />"genres" of investors should only be used by salespeople (note, salespeople and NOT investors/traders) to market their investing/trading programs to gullible people. as how EY implies, there's no fixed recipe nor cooking style to come up with a great dish.<br /><br />History: when i started working 3 years ago (making my own money) i decided that i won't make a good trader so i started to look at undervalued stocks, have only started putting in more money/effort in 2014 however. in retrospect i didn't make a lot of money still due to my "strategy" (which i'm constantly working on), though my only regret is that i didn't buy more of stocks that i liked, or had favoured, as i'm overly-cautious. still not doing quite well in the psychological aspect of investing i'm afraid.<br /><br />Buying: i look for stocks with conservative financials, good/conservative management and happen to be lowly-priced relative to their assets. and i start building a position. there are many "undervalued" stocks listed on SGX but really just a few meets my criterions, so every one i buy is golden to me. <br />these stocks will be to me, "quasi-perps", which pays dividends too and possess potentially large upsides if it receives attention from the market - maintaining a cash-sink by holding onto a peculiar call-options portfolio that has no expiry and yet pays me interest greater than deposit rates.<br /><br />TP/overvalued-ness: obviously there won't be a targeted TP for me. but an obvious way to tell when to exit is when the stock explodes upward as it starts getting attention (see Valuetronics 2013 to 2014, here i guess some market reading/guessing will be required). thanks to speculators, one might be able to tell when a stock can be "overvalued". i don't try to guess an "intrinsic" value of what a stock is worth.<br /><br />Trading: bona fide trading can be done, to try to take advantage of dislocations in bid/offer levels, as what Money Honey pointed out.<br /><br />Philosophy:<br />(i) putting money where your mouth is > talking. business owners with the most to lose, will have be the best they can be. <br />(ii) there are always always going to be suckers, both on retail and institutional levels. that's what brokers and financial journalism does, dumbing people down.<br />(iii) history will always repeat itself and mean-reversion is a fact of life. not really referring to price charts, but in human nature.Hhttps://www.blogger.com/profile/15559136599293826002noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-8204751539340433082015-02-15T09:58:19.345+08:002015-02-15T09:58:19.345+08:00Endrene,
With your comment, we have broken centur...Endrene,<br /><br />With your comment, we have broken century ;)<br /><br />coconut would be happy!<br /><br /><br />You said it girl!<br /><br />We are all money-grabbers!!! We're all in it for the money! As if having a certain "label" will make us "holier than thou" ;)<br /><br />The time our tyres meet the road is when we hit 55. If we desperately need our CPF money to be returned to us... Something has not gone right somewhere.... As in the decisions we have made (or not made) for the past 54 years....<br /><br />I'll be nice. I won't say anything about our past goal settings and plannings :)Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-3120951397668610082015-02-15T09:45:30.297+08:002015-02-15T09:45:30.297+08:00Haha. Such flattery. Must buy you coffee!
If we ...Haha. Such flattery. Must buy you coffee! <br /><br />If we remove all the labels and just question the motivation, it will all lead to that one and only sacred outcome - make money.<br /><br />Make money quickly, slowly, excitedly, boringly, handsomely, marginally.... Choose any one or any combination. Then come up with a recipe to cook our own dish.<br /><br />Errrrr...can use recipe book? Come up with own recipe difficult leh.<br /><br />But hor, recipe book never tell me difference between my cooking strategy and technique? Dunno then how?<br /><br />LOL!EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-82511814775301883042015-02-15T09:12:35.250+08:002015-02-15T09:12:35.250+08:00Endrene,
Got looks and brains; life is so unfair!...Endrene,<br /><br />Got looks and brains; life is so unfair!<br /><br />Buy and hold versus Market Timing (can swap with Trading)<br /><br />Value investing versus Growth Investing<br /><br />Which is strategy? Which is tactic?<br /><br />I suspect that's where the most confusion lie ;)Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-35141631526240524162015-02-15T09:01:28.145+08:002015-02-15T09:01:28.145+08:00The conviction of not wanting to sell is based on ...The conviction of not wanting to sell is based on certain ideology. It's the 'Mind'. Who can be sure that the next generation has a similarly 'great' Mind?<br /><br />Objective? Is there such a thing? :PEYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-65576015843980526762015-02-15T08:53:37.512+08:002015-02-15T08:53:37.512+08:00Endrene,
"great business" - is that obj...Endrene,<br /><br />"great business" - is that objective or subjective... Hmm...<br /><br />What's great to you may not be so great to those who come after us...<br /><br />It's fun watching the public feuds between the 1st and 2nd generational owners at some of the public companies as a non-vested party.<br /><br />If vested, I'll be sweating bullets... <br /><br />That landed property the owners tried so hard to preserve as "legacy"; but once they passed on, the children can't wait to sell it off as part of their "entitlement"....<br /><br />Hands up who likes parents making decisions for us?Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-40064092561690310192015-02-15T08:39:17.873+08:002015-02-15T08:39:17.873+08:00Rolf,
I think it's better to dispense with th...Rolf,<br /><br />I think it's better to dispense with the "most value investor".<br /><br />Without an adjective in front, "value investor" can mean anything....<br /><br />Competent is different from work-in-progress; and newbie is different from clueless ;)<br /><br />Notice you spoke from 3rd person perspective and only in the last sentence you spoke from 1st person perspective?<br /><br />(It's Sunday so it's just a mild sugar coated poke)Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-40902232646256151002015-02-15T08:36:15.782+08:002015-02-15T08:36:15.782+08:00If the value investor truly holds the ideology th...If the value investor truly holds the ideology that they are owning a part of a great business, then this 'business' shall be a part of his/her legacy for passing down the generations. Hopefully, 3 generations at least? ;)<br />EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-60554185196405735112015-02-14T23:06:43.291+08:002015-02-14T23:06:43.291+08:00Perhaps most value investor never sell.
When the...Perhaps most value investor never sell. <br /><br />When they see their portfolio rise... They feel shiok, drool at itand invincible that indeed they are right! Ego satisfaction! Never sell... <br /><br />When price drop, value investor will say they invest for long term... And fundamentals stil sound.. And still good to collect their dividends... They still feel shiok n confident in some degree of self denials... Haha... <br /><br />Sounds like me....Rolf Sueyhttps://www.blogger.com/profile/10723925075715114650noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-91726215592549267942015-02-14T23:01:03.282+08:002015-02-14T23:01:03.282+08:00Money Honey.
That's why those who "pract...Money Honey.<br /><br />That's why those who "practice" Value Investing are the ones who are making the interesting comments ;)<br /><br />They understand I am only poking those who "call" themselves Value Investors - the poor posers.<br /><br />The imposters ;)Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-2560653717188456192015-02-14T22:36:45.064+08:002015-02-14T22:36:45.064+08:00Joyce,
In your blog's masthead, you jest that...Joyce,<br /><br />In your blog's masthead, you jest that ACCICB is making moolah from your stock tips.<br /><br />You come across as a confident woman who is not afraid to speak your mind. And that's sexy in my book!<br /><br />A weak man would take offend if I am ACCICB....<br /><br />That's why I asked.<br /><br />Just making sure who is leeching on whom?<br /><br />Ah! If ACCICB were working in the same industry as you, then he is even more confident and self-assured than I expected.<br /><br />You lucky girl! <br /><br />Please, go on poking him ;)Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-68319245764691328992015-02-14T22:13:42.385+08:002015-02-14T22:13:42.385+08:00coconut,
You think we are playing snooker?
Ha ha...coconut,<br /><br />You think we are playing snooker?<br /><br />Ha ha!Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-48819701719104834322015-02-14T22:09:25.059+08:002015-02-14T22:09:25.059+08:00Don't know how the answer helps to provide you...Don't know how the answer helps to provide you with context and perspective though....?Joyce Leonghttps://www.blogger.com/profile/08819848496778263890noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-26002908952224909982015-02-14T22:08:56.868+08:002015-02-14T22:08:56.868+08:00Rolf,
1) You complain? You only have to scroll d...Rolf,<br /><br />1) You complain? You only have to scroll down. I have to bloody find who said what and where in the comments!!!<br /><br />2) Boo! You wrote? You dare say that? That's only a book review or summary ;)<br /><br />3) If you have internalised it, what's so difficult in you replying that you start selling a bit at fair value; and sell a lot more when the price exceeds fair value?<br /><br />4) Thanks for reminding "value investors" that there's another label for them - contrarians.<br /><br />Value investors buy when others are selling.<br /><br />So when others are buying, what do value investors do.....?<br /><br />Definitely not buy when others are buying, and sell when others are selling! <br /><br />LOL!<br /> Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-58554890265041586232015-02-14T21:53:48.524+08:002015-02-14T21:53:48.524+08:00coconut,
Don't play play with CW. He got cont...coconut,<br /><br />Don't play play with CW. He got contribute to our market volumes :)<br /><br />1) He got his trading rounds 1,2,3,4....<br /><br />2) Make a wild guess where the money that goes into his pillow comes from? <br /><br />3) Most people can readily admit they are not cut out to be entrepreneurs.<br /><br />But not everyone can accept the truth that investing and trading may not suitable for everyone. Strange huh?<br /><br />And our performance don't get better by sticking a label on our forehead ;)<br /><br /><br />Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-65947583105404607332015-02-14T21:33:42.126+08:002015-02-14T21:33:42.126+08:00Small Time Investor,
Need to add price to time - ...Small Time Investor,<br /><br />Need to add price to time - but they are commonalities about the markets.<br /><br />All charts and technical indicators are built upon the basic building blocks of price and time ;)<br /> <br />A 3rd element is volume, but with black pools and algos, volume analysis is not as straight forward as it used to be...<br /><br /><br />Whether we are a trader or investor, to acquire an asset, we must....<br /><br />And to monetise this asset, we must.... <br /><br />;)<br />Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-49103961228518122472015-02-14T21:16:14.677+08:002015-02-14T21:16:14.677+08:00Sillyinvestor,
LOL!
I see LP and Endrene have al...Sillyinvestor,<br /><br />LOL!<br /><br />I see LP and Endrene have already come calmed your nerves ;)<br /><br />They have "coached" you to the right direction.<br /><br />Here's 3 verification questions in case if you want confirmation you understood what Endrene and LP have said:<br /><br />1) You may want to reflect why you suffer from cognitive dissonance from this exercise. When most others are having fun with me?<br /><br />2) When you got it, you may understand why those who "call" themselves value investors struggle with such elementary questions?<br /><br />3) And spot those who are "conversant" with value investing have already replied here ;)<br /><br />Some of the answers are brilliant!<br /><br /><br />Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-34748097471494593092015-02-14T11:50:25.379+08:002015-02-14T11:50:25.379+08:00EY,
👍受教。多学EY,<br /><br />👍受教。多学Sillyinvestorhttps://www.blogger.com/profile/03228581533460899084noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-31315648212625965312015-02-14T11:45:45.078+08:002015-02-14T11:45:45.078+08:00lets see, 83!
you going to have a century break!lets see, 83!<br /><br />you going to have a century break!coconuthttps://www.blogger.com/profile/09479603768240288905noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-40947328896469980112015-02-14T11:43:26.065+08:002015-02-14T11:43:26.065+08:00someone is even more tiring answering all these co...someone is even more tiring answering all these comments.coconuthttps://www.blogger.com/profile/09479603768240288905noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-76453974163755011992015-02-14T11:36:34.707+08:002015-02-14T11:36:34.707+08:00Hi SMOL,
Very tiring commenting this post. Keep s...Hi SMOL,<br /><br />Very tiring commenting this post. Keep scrolling down until I find the comments box.<br /><br />Wrote a post before on when to sell ref to contrarian approach...<br /><br />http://www.rolfsuey.com/2014/06/when-to-buy-hold-and-sell-stock.html?m=0<br /><br />Before you buy a stock, always have a plan for it - different for different stocks. Sell the stock as long as pre-set objectives are met. Similarly, when market over-value the stock and the fundamental of the business deteriorate, let go of the stocks with no emotions attach. <br /><br />Do not ask me how to determine "over-value"? <br /><br />I am not Warren Buffett or Ben G. Just an ordinary stock investor. <br /><br />Like you easily predicted, I buy more than sell... Rolf Sueyhttps://www.blogger.com/profile/10723925075715114650noreply@blogger.comtag:blogger.com,1999:blog-6897513886211197509.post-90237269232984823382015-02-14T11:34:48.045+08:002015-02-14T11:34:48.045+08:00smol, if this market is full of investor like CW, ...smol, if this market is full of investor like CW, you and i are going to eat grass fortunately, 99% of market action are not investing driven.<br /><br />the right thing to do is always the wrong thing to others, and the wrong thing we do is always the right thing for some...coconuthttps://www.blogger.com/profile/09479603768240288905noreply@blogger.com