Value Investing For Singapore!

Value Investing Blogs

This is an ongoing work we're embarking here to uncover some of the best blogs maintained by value investors and savvy investors living in Singapore; and perhaps all over the world! We have benefitted much from their learnings and these information are sourced directly from them in the hope that their messages gets propagated to all corners of Singapore.

Warning!

Smart value investors are long term investors and they exercise independant thinkings. DO NOT ASSUME accuracies in all the information published in the blog articles here. Do your own due deligences before investing your hard-earned money.

You have been warned!

Snapshots from the blogosphere...

Here is a list of stocks that I generated using the following criteria1. Market cap more than $50mn2. Dividend yield more than 4%3. Past 3 yr average ROE more than 9%4. Past 3 yr FCF yield more than 7%5. Past 3 yr EBIT margin more than 4%Obviously, as with all quant screens, more work needs to be done to refine the results. The first counter definitely look strange. I mean, with dividend of 30%, in 3 yrs you get back your capital. How likely is that?Chances are something is wrong with the firm or with the data.The name that I thought might be interesting is Telechoice - which sells prepaid ...

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Posted on 21 Aug 2010 at 3:57 am

insurance auto auctions 623 florida...

Random thoughts
Posted on 18 Aug 2010 at 10:30 pm

Once a while, I gathered all the thoughts that I had in my mind - those that are worthy enough to blog but not long enough to write on a post by itself. For me, it's therapeutic to blog down these random thoughts. I love blogging, it converts formless thoughts in my head into concrete words. The act of converting them into forms that others can react to is itself a joy to me. Sometimes, when I write along, more thoughts will form to give framework and structure to my initial spark that prompted the blogging in the first place.Random thoughts:1. Why do I get the impression that FA guys are m...

Security
Posted on 17 Aug 2010 at 9:00 pm

** "BIAS" is a special feature in my blog where I get to say whatever I want with scant regards for your feelings. I'm not politically correct in this feature, so go ahead, judge me."I was quite frustrated on last Sunday when I was out for work. As a result of this, I was particularly skeptical and thoughtful about things. In hokkien, this is called guai lan.On that particular day, I was going to a condo. Actually there are two sorts of condos, one is with a laxer security and the other with more oxymoronic security. This particular one that I visited last Sunday was of the latter kind....

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Posted on 17 Aug 2010 at 5:00 pm

florida home owners insurance :[[ eYYdQghWkEPsopG
Posted on 16 Aug 2010 at 9:11 pm

health insurance 38610 cheap health...

Old people don't need life insurance?
Posted on 15 Aug 2010 at 10:42 pm

I was browsing through some of the blogs when I saw Mr Tan's post on insurance. It's his usual style to advice people to buy term and invest the rest. But that doesn't attract me - it's this line:"There is no need for people to have life insurance when they are old."By 'life insurance', I take it that he means the whole life variety - those plans that gives a lump sum pay out in the event of death and total permanent disability of the insured person from the inception of the policy till age 100.  This is very different from the very much cheaper term plan where a similar lump sum pay out wi...

Marriage is NOT wedding
Posted on 13 Aug 2010 at 12:49 am

** "BIAS" is a special feature in my blog where I get to say whatever I want with scant regards for your feelings. I'm not politically correct in this feature, so go ahead, judge me."Wedding is such a sham!I've been having a rather bad week because I can't sleep well as my mind is still very active at night. I attribute it entirely to the stress of settling matters pertaining to the wedding preparation. There's a thousand and one thing to arrange and tie up with others and a million others to call up and wait for their reply before you can proceed on. It's really such a hassle! I have no ...

Did Buffett underpay Mrs B?
Posted on 11 Aug 2010 at 12:58 am

I did a post some time back highlighting that perhaps the acme of investing might actually be not to short-change anyone in any transaction. ie to buy a stock at its intrinsic value while waiting for the intrinsic value to grow. This is a very sensitive point when we are dealing with day-to-day business owners rather than the stock market.Obviously buying at intrinsic value is also different from buying a company at a huge discount and then waiting for it to revert back to its intrinsic value, which is the original thesis of value investing.I thought that Buffett might have just pulled this...

Living simply
Posted on 10 Aug 2010 at 11:20 pm

I was quite intrigued by Bro8888's article on living with 100 things only. It's not so much about the number 100 that matters, it could easily be 200 or 1000 articles. Rather, it's those type of questions that when asked, will lead to more questions that will shine light on what really matters to you. It's something like one of the question that Mr WB had asked - if you only have 10 stocks that you can buy in your entire life, which one would it be? Something like that lah :) This kind of question forces one to think about what is really important.When I told that question to my gf in a caf...

My experience on using credit card
Posted on 6 Aug 2010 at 5:19 am

If you've been following my blog, you'll know that I've trouble applying for credit cards. It's a miracle that I got the POSB credit card when I applied a few months ago. Miracle because all the other cards have rejected me, despite the aggressive sales person pushing the cards, touting them as free.After a few months of purchasing things on credit, I have very positive comments about it. I'm sure everyone knows about the dangers of bursting your own credit limits and going into debt blah blah. There are very good things to say about credit cards based on my limited experience.1. It improve...

Cats or Dogs?
Posted on 29 Jul 2010 at 11:11 pm

I made a poll not too long ago, so I think it's appropriate to conclude it after 1-2 weeks. After a turnout of 11 responses, here's the results:It's quite surprising to me because I thought more people would love dogs, judging by how people treat dogs as a better companion than cats. Nevertheless, cats win this time round!In my line of work, it's more usual for me to encounter dogs than cats. I've only have 1 household that keep cats (but they also keep dogs)...1 out of so many many household over so many years! But pets are cute actually, I've befriended quite a few dogs. Whenever I go ove...

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Other Investor's Writings:

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August 2010 Portfolio Summary and Review
Posted on 2 Sep 2010 at 8:00 pm

August 2010 was indeed an interesting month for me in terms of portfolio changes; as I made the somewhat painful decision to divest of my entire stake in FSL Trust (as I had previously blogged about in this post). The decision was a mixture of relief and regret, as the funds [...] Related p...

Starhill Global REIT – Fundamental Analysis
Posted on 1 Sep 2010 at 5:00 am

Starhill Global REIT invests in retail space at prime location. Based on her 2009 annual report, there are 10 properties in the portfolio. Locally, the REIT has Ngee Ann City (27.33%) and Wisma Atria (74.23%). 7 of the properties are in Tokyo and 1 in Chengdu. They just acquired David Jones Build...

My stocks portfolio - Aug 2010
Posted on 31 Aug 2010 at 9:56 pm
Double dip or mild recovery in the US…..the uncertainty is causing a boom in the bond market and low volumes in equities……
Posted on 31 Aug 2010 at 8:00 pm

I had an informal lunch with some academics and fund manager veterans last week to test the waters. It is timely in that we have Fed Chairman Bernanke Bernanke, in his Aug. 27 speech to central bankers and economists in Jackson Hole, Wyoming, indicating that the US economy is not growing as fas...

My Investment Portfolio (August 2010)
Posted on 31 Aug 2010 at 5:38 am

STI ended this month on a weaker note, with investors dumping property stocks as the Singapore Government introduced measures to cool down the local property market. Counters with exposure to the local residential market got hit more badly. Nevertheless, 2Q2010 results released by most listed com...

Measures to curb property speculation finally revealed
Posted on 31 Aug 2010 at 5:26 am

Today’s papers reported that measures are rolled out with immediate effect to curb property speculation. In layman terms, they are: (1) Sellers to pay stamp duty again if they resell the property within 3 years of purchase. (A $1m property attracts $24,600 of stamp duty.) (2) For buyers who ha...

Valuation Expansion
Posted on 30 Aug 2010 at 8:00 pm

On Wall Street, a lot of educated monkeys like to talk about valuation expansion. Basically valuation expansion simply means that some stock trading at 15x PE should be trading at 25x PE bcos its industry is sexy, or the company has undergone transformation of its business to become the new g...

Stubborn HDB Property Bubble?
Posted on 30 Aug 2010 at 5:00 am

Some of my friends painfully resisted buying a flat for the past few years, hoping that the property bubble will pop when the global recession erupted. But to their disbelief, the prices and cash over value (COV) continue to defy gravity and broke new highs. This prompted [...] Related ...

GRP – FY 2010 Analysis and Review
Posted on 29 Aug 2010 at 9:17 pm

GRP released their FY 2010 results on August 20, 2010 (the company has a June 30 year-end). Suffice to say that there were no major surprises; either negative or positive, but the prevailing sentiment from me is that the Company can do more to either increase their dividend or to reinvest the ...

Pay for growth
Posted on 29 Aug 2010 at 10:42 am

When buying things, we usually compare the price across different shop, hoping to get a bargain. This is not usually the case with stock investing, investor watching the price going up has tendency of catching the train. However, generally the seasoned investor knows when to buy and hopefully buy...

Neither here nor there...
Posted on 28 Aug 2010 at 8:42 pm

The US market's uptrend came under pressure 11th Aug, correction on 24th Aug. To me, this 'uptrend' was not significant enough to position trade. IBDs ratings do not work in a trendless market. I do not yet have this crucial skill to judge the state of the market (up, down, trendless) withou...

Saizen REIT: Better than expected DPU
Posted on 26 Aug 2010 at 8:00 pm

Saizen REIT reported full year results this morning and declared a DPU of 0.26c, payable on 29 September 2010.  This is better than expected as the REIT did not have a full quarter to accumulate cash for distribution.  They also refinanced GK Choan and had to pay some fees as well [...] Rel...

Is Whole Life Plan necessary?
Posted on 26 Aug 2010 at 5:00 am

I again have to emphasize that I’m not comparing a “Buy Term Invest the Difference” Vs “Buy Whole Life Plan” argument. Getting into such arguments will waste me a lot of time where I rather spend to serve my clients and expand my business. Writing this blog is to feed my interest [...] Relat...

Personal Finance Part 18 – To Crave and Covet (C&C)
Posted on 25 Aug 2010 at 8:00 pm

It’s been a while since I’ve talked about aspects of personal finance, as I was kept busy the whole of May to July 2010 with analyzing the financial results of the companies in which I hold shares, as well as writing about Sun Tzu’s War On Business episodes. I’d realized the last [...] Relat...

WEE HUR HOLDINGS LTD W121027
Posted on 23 Aug 2010 at 1:45 am

For those holding the above company warrant, maybe it is time to consider converting them to shares. The record date for their upcoming dividend entitlement is as follows:WEE HUR HOLDINGS LTD. - 3 Sep 2010, 5pm. Interim dividend 1cts per shareThough the warrant expires on 27 OCT 2012, there seem ...

Public transport
Posted on 17 Aug 2010 at 8:22 am

I tried taking the MRT and bus to work recently. It was a horrible experience to take the train. As I need to alight in Orchard area, I had to smell the arm pits of commuters. Then I tried the bus, service 65. Below was the snap shot.I was pleasantly surprised! I could even read papers there! The...

Make money blogging
Posted on 4 Aug 2010 at 10:43 am

I have been meaning to write on blog monetization so here it is!I started Singapore Blue Chips in May 2008, it has been slightly more than 2 years from now. I would say that my blog did generate decent income to cover my internet bills over the past 2 years. The majority of my income did not come...

Market knows what is going to happen
Posted on 3 Aug 2010 at 10:22 am

I was puzzled by Etika share price for past two days, it keep going up for no apparent reason. The answer is out now. Templeton fund is subscribing to the convertible bond that the company issues. The conversion price is 1.05 which is higher than current share price. However, if you look at the l...

My stocks portfolio - Jul 2010
Posted on 1 Aug 2010 at 8:07 am
My Investment Portfolio (July 2010)
Posted on 30 Jul 2010 at 10:04 pm

It had been a good month as STI moved closer to 3000 points, but ran out of steam at the last moment. Nevertheless, volume in the market is still not strong enough which might explain that most investors are still in the sidelines. Investors might be waiting for more companies to announce their ...

Of Cars and Cars
Posted on 22 Jul 2010 at 11:07 pm

I have a rather luxurious family car below where I rarely drive. Most of the time, I drive my trusty 5 year old Japanese car (1.6 litre) for work or take the train when I go for trainings in town. Occasionally, I do drive my family car for errands when it is available. Often people who just got t...

Bull or bear, where market going to next?
Posted on 20 Jul 2010 at 10:39 am

As this juncture, the direction of the market is less clear to most of the people. Some are still fearful for the Europe problem or the double dip situation. They haven't happen yet, but there is still posibility. As fundamental investor, I am less concern on the market direction. If you know th...

Spam comment
Posted on 20 Jul 2010 at 9:54 am

Due to undesirable spam comment keep popping up in the blog, I have temporary disabled the comment field. Let's see how it goes.

Company Warrants Expiring in 2010 - Actions Needed
Posted on 19 Jul 2010 at 10:57 pm

I need to remind myself all the outstanding company warrants that are expiring in 2010 in my portfolio which I will need to take action. I will update this list accordingly as I go along so that I won't forget about them.LINAIR W100118, Expiry Date: 18 Jan 2010, Exercise price = $0.09, Conversion...

US market: new bull market?
Posted on 17 Jul 2010 at 10:54 pm

After 2 attempts that died out within a few says, we get a FTD on Jul 7th:A distribution day occurred on day 7 of the rally. S&P500 down 2.9% on 30% higher vol, Nasdaq down 3.1% on 10% increase. Mitigating this (from IBD):Higher volume partially accounted for by options expirationFriday's volume...

METRO HOLDINGS LIMITED W110922 and KSH HOLDINGS LIMITED W120402
Posted on 7 Jul 2010 at 4:35 am

The above two companies will be giving out dividend soon and therefore I will be exercising their warrants and convert them to shares before record date in order to be entitled to their dividend payout. Their record date for dividend entitlement are as follows:1. METRO HOLDINGS LIMITED - 2 Aug 20...

My stocks portfolio - Jun 2010
Posted on 1 Jul 2010 at 9:14 am
My Investment Portfolio (June 2010)
Posted on 30 Jun 2010 at 8:17 am

It had been a quiet month due to the World Cup going on in South Africa. Therefore, there is not much activity in the market this month and there had been a lack of news flow as well. Instead of deciding which teams to place my bets on, I have decided to concentrate on the market and decide what ...

Goodpack
Posted on 27 Jun 2010 at 1:27 am

Since the market's doing nothing, decided to go back to fundamental research for companies to buy during the next bear market.Goodpack is probably the closest thing on SGX to a CANSLIM company. It has shown profitable profitable growth for at least the past 4 years, is entering new markets, and ...

My First Sell Trade of the Year - Sunway International Holdings Limited
Posted on 21 Jun 2010 at 2:17 am

It had to come and it did came. I did my first sell trade of the year after holding onto my portfolio tightly and adding funds back into the market this year.I did have a long struggle before deciding to do this sell trade, as it is not my intention to sell any of the stocks in my portfolio at th...

US Market
Posted on 18 Jun 2010 at 9:09 pm

For the record.IBD signaled a market correction around the start of May.There was the intraday flash crash on May 6th.A Follow-thru-day on Wed 2nd June suffered a distribution day on the 4th. A distribution day within the first few days of the FTD nearly always marks the end of the trend. The F...

My stocks portfolio - May 2010
Posted on 3 Jun 2010 at 9:29 am
My Investment Portfolio (May 2010)
Posted on 31 May 2010 at 4:19 am

The market finally underwent a minor correction as worries on various fronts had finally managed to bring it down to an attractive level. Major worries include depreciation of Euro, worries about PIIGS, North-South Korean tension, Germany's ban on short selling, China property market overheating ...

Sold everything
Posted on 22 May 2010 at 5:11 am

Sold everything abt 3 weeks ago:10 lots NOL @ 2.045 lots parkway @ 3.312 lots citydev @ 10.3218 lots midas @ 0.9910 lots wing tai @ 1.75 (bought @ 1.85).Altogether a 6.5K loss, including brokerage.At one point I was up 5.5K. Must change the way I trade:- Don't feel compelled to buy just because ...

Market might just continue the slide next week
Posted on 9 May 2010 at 10:07 am

Last Friday, Dow dropped another 100 plus points. The bad news is one after another. After the strong rebound last year, we are hitting the first speed bump. No one could tell how the market will play out. 1. China cramp down on property speculation. Although in the short term, this has dragged ...

My stocks portfolio - Apr 2010
Posted on 1 May 2010 at 7:49 am
My Investment Portfolio (April 2010)
Posted on 30 Apr 2010 at 4:25 am

The story of this month had been the debt problems with the PIIGS, with Greece’s debt crisis been very much in the news. STI finished this month below 3000 points, and not much had been happening actually with most of the companies conducting their AGMs this month.For my top 30 stock holdings, it...

VIZ BRANZ LIMITED W110630
Posted on 28 Apr 2010 at 4:20 am

For those who are holding this warrant, it might be a good time to convert them to shares. It seems to me that the company is now declaring dividends four times a year, having declared one special dividend of 0.75cts per share in January this year and an interim dividend of 1cts per share in Marc...

Bought citydev
Posted on 25 Apr 2010 at 6:51 am

Bought 2 lots @ 11.06 on Thurs 22nd Apr.Has retraced slightly on low vol.Cut-loss at previous low (10.56).

The rally that won't die
Posted on 25 Apr 2010 at 6:38 am

US:Market still in uptrend. Despite Greece, Goldman Sachs... etc, it is still going up.IBD reports favorable breadth (IBD 100 still rising).8th consecutive week of gains.Back in Singapore:GS sparked off a round of selling in the local market. Now we have had 5 days of almost continuous broad-ba...

Tiong Woon
Posted on 25 Apr 2010 at 6:03 am

Bought at 56c (21-Apr-10), healthy retracement on low vol:Sold several days later, as it gapped below moving average during the ,market's broad based fall.May have been a mistake to sell, as vol was low when it fell.I think the mistake here was the original buy decision - buying in an overbought ...

Sold Osim
Posted on 25 Apr 2010 at 5:40 am

15 lots at 0.92 on 22-Apr-10.It was (and still is) not completely certain that the stock is undergoing distribution:Was only one day's selling.Market fell heavily, and broadly that week too.So hard to tell....One reason for selling was because of the high drawdown (stop loss at 0.87).Don't think ...

Bad Trade: Straits Asia
Posted on 25 Apr 2010 at 5:31 am

Bought 6 lots at 2.34, sold at 2.11.Mistake was to buy when the market was overbought. Must learn patience. Don't have to be invested, even in a bull market.

Is Singapore really that bad?
Posted on 19 Apr 2010 at 6:21 am

Today a colleague told me she wants to migrate to Australia. Initially, I thought it was just a passing remark. However, as I probed further, she has actually obtained PR status through an agent here, after spending about $8,000. She has also taken an English test to demonstrate her proficiency i...

LEE METAL GROUP W100910
Posted on 16 Apr 2010 at 3:43 am

I will be converting Lee Metal Group warrants around 4.5 months before expiry. Normally, I don't like to convert warrants way before expiry as I will lose time value for the warrant in question. But for this case, I will be paying 5cts per share to convert each warrant to share and getting back 2...

Charging ahead
Posted on 15 Apr 2010 at 9:39 am

Stock market is back in active mode where the volume is high. Blue chips again leading the pack. There were few good news from US, especially news like US consumer is spending again will boost the sentiment. In fact, everybody believes that we are really in recovery mode. There will be no double...

Sold Capitamall Asia
Posted on 15 Apr 2010 at 6:58 am

Sold Capitamall Asia on 21st Apr, at 2.21.Not a shred of anything bullish in the chart:

Bought OSIM, Parkway
Posted on 13 Apr 2010 at 7:21 am

Osim:Breakout after flat for 3 weeks.Bought 15 lots @ 95.5 centsLong term chart shows next resistance at $1.12:Short term chart shows previous low at 87.5c (cut loss slightly more than 8%):Parkway:bought 5 lots @ $3.25healthy retracement, still in uptrend. Support probably 3.20 (MA).[Updated 25/...

Sold Venture
Posted on 13 Apr 2010 at 7:19 am

Sold 2 lots at $9.51.Still in uptrend, but overbought, approaching resistance.It has shot up on healthy accumulation, from 8.36 to 9.50, 10% in 3 weeks. I bought halfway through, so 5% profit in 7 days. Since support is below my buy price, decided to take profit.May be able to buy back on a hea...

Sold ARA
Posted on 13 Apr 2010 at 7:06 am

Sold 15 lots @ $1.17.An uncertain decision:Main reason to sell was that it was not rising, even in a bull market. And I'm impatient.But falling MACD with steady price can mean that it is just working off its overbought condition...... but stock is still in an uptrend...in a bull market.Uncertain...

Sold CWT
Posted on 13 Apr 2010 at 6:58 am

Sold 20 lots @ 1.04.Although not 100% the uptrend is broken, the weight of evidence points to it:

Accumulation examples
Posted on 11 Apr 2010 at 3:37 am

I missed these: Accumulation shown by small bursts up on high vol and retracing healthily on low vol.CSE:Straits Asia:Missed this one as I was busy at work yesterday, had already shot up after I looked at it.Don't chase now, too risky...I'm half invested in a bull market, so doing OK...the bear c...

When you can hear
Posted on 10 Apr 2010 at 7:51 am

Today a new admin staff came to my office. When I wanted to speak to her, she passed me a black colour remote control like device and asked me frantically to speak into the device. I was quite taken aback as I didn’t know how to use it until she demonstrated it to me. That was when I realised tha...

Bought Venture
Posted on 6 Apr 2010 at 6:59 am

Yesterday 5th Apr 10, bought 2 lots Venture @ 9.04.I told my broker I was interested in the morning, after it broke through $8.98, she called me and said that this could be an opportunity if it holds that level...Support levels are:$8.98 (recent high)$8.63 to 8.66 (previous low... but not clear)$...

Sold Ho Bee, SC Global
Posted on 6 Apr 2010 at 6:54 am

Mon 5th Apr, sold:11 lots Ho Bee @ $1.8410 lots SC Global @ $1.86Main reason for selling was that my cut loss level was too far down...was a mistake to buy. Secondly, they were not performing even in a bull market. Made small loss on the brokerage.

What Stocks to Buy? Have You Been Buying Stocks?
Posted on 6 Apr 2010 at 12:58 am

Dear readers,I always get these two questions - "What Stocks to Buy?" and "Have You Been Buying Stocks?" lately from some of my friends and I am getting sick of answering them. Basically, my answer is very simple nowadays - "Read my blog". Yes, I will not be answering these questions directly at ...

Don't know the market trend...
Posted on 2 Apr 2010 at 4:56 am

The Singapore market has been going up:only had short 1-or-2 day pullbacks in the past few weeks...not enough to remove the contra players and create any short-term oversold condition.. where I can enter safely.Not sure of the trend: await direction from Uncle Sam.The US market has not significan...

My stocks portfolio - Mar 2010
Posted on 1 Apr 2010 at 7:40 pm
My Investment Portfolio (March 2010)
Posted on 31 Mar 2010 at 9:23 am

As I was writing this blog entry, I saw an annual report lying in front of me on a stack of them which I haven't gone through yet. Entitled "Great Expectations" from the latest Great Eastern Holdings annual report, it certainly sets me thinking for a while. I mean, everyone have great expectation...

Small cap in focus
Posted on 28 Mar 2010 at 9:22 am

I have been reading many commentaries or view that small cap would be in play for coming weeks. So far, the recovery in earning has not disappoint. The correction is also moderate. The big caps are mostly well priced for the growth. Naturally, the attention will shift to mid and small cap, where ...

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Speakers Corner Monday Posted on 23 Aug 2010 at 4:20 am Speakers Corner Monday From: theonlinecitizen Views: 702 4 ratings Time: 10:40 More in News & Politics

Save Vui Kong Campaign Posted on 14 Aug 2010 at 9:30 am Save Vui Kong Campaign Sign the petition: www.petitiononline.com 1 August 2010: The Anti-Mandatory Death Penalty Photo Project was relaunched at Speakers' Corner, asking for Yong Vui Kong to be given a second chance. From: theonlinecitizen Views:...