PDF Version *** There are two ways to learn to invest. You can study success. What do successful investors do? What do they have in common? What traits contribute to their achievement? You learn through examples by following the path of those who have succeeded. Or you can study failures. Those who lost everything. How […]
PDF Version *** The role of an active investor is to compound return at a rate higher than the market over the long-term. To achieve that, you have to be right and non-consensus. Both require making good decisions. And good decisions comes from learning how to think well. Good thinking can only be achieved through […]
PDF Version *** Most of us don’t read 500 pages of annual reports every day looking for potential stocks. Rather, we rely on the works of other investors and brokerage reports to narrow down the opportunities. They would screen, analyze, and collate information into a simple and easy to understand narrative. This saves up […]
Background Malaysia’s cement industry is getting hit hard over the past few years. Lafarge, the biggest cement player in Malaysia is down close to 50% from its peak $10 in 2015. The 4 key factors currently affecting the cement industry are: Industry headwinds Higher cost Overcapacity Soft property market Slow rollout of infrastructure projects Higher […]
When there are lots of uncertainty (has the market ever been certain?), the common advice is to stay on the sideline until things clear up. There is value in this wisdom but sometimes it can do more harm than good to your return. In stocks, uncertainty can arise from macroeconomic, industry or stock specific, and […]
Whatever you decide to call yourself whether as a trader, speculator, value investor, growth investor, fundamental analyst, technical analyst, a hybrid of both and so on it doesn’t matter. You are a capital allocator. The role of a capital allocator is to allocate capital in the most efficient way that maximizes long-term return. Simple as […]