https://www.youtube.com/watch?v=I_x626joik0
https://www.youtube.com/watch?v=l_IgcmsqnVM
Am watching these two videos on Money as Debt 1 & 2 too.
http://www.56.com/u76/v_NTYwOTEzNTM.htmlWhile looking for a book in the Baidu search engine, found this video on Federal Reserve to share with all of you.
Subject: Singpost Valuationannounced its Q2 and 6 months financial results. Both Q2 and 6 months operating earnings increased by 4.55% and 9.38% on a year on year basis. As compared to Q1 growth of 15.38%, Q2 had slowed down considerably and mainly due to volume related expenses increased by 38.5% and revenue increased by 22.4% as compared to the same quarter a year ago. Hence cost is rising faster than its revenue in Q2 and operating profit margin was reduced from 16.73% (2016 Q2) to 14.29% (2017 Q2).
My own assessment of its fair value stand at SGD1.09 and ideal entry price at SGD0.93. Below are analyst reference for second opinion. Thank you 🙂
SGX : SingPost
Last Price
Avg Target Price
Upside/Downside
Price Call1.65
1.60
-0.05 (3.03%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News 02/11/2016
1.605
1.77
+0.165 (10.28%)
BUY
Maybank Kim Eng
28/10/2016
1.59
1.77
+0.18 (11.32%)
BUY
UOB KayHian
28/10/2016
1.59
1.42
-0.17 (10.69%)
HOLD
OCBC
28/10/2016
1.59
1.77
+0.18 (11.32%)
BUY
Maybank Kim Eng
28/10/2016
1.59
1.76
+0.17 (10.69%)
BUY
CIMB
11/10/2016
1.53
1.77
+0.24 (15.69%)
BUY
Maybank Kim Eng
04/10/2016
1.48
1.77
+0.29 (19.59%)
HOLD
UOB KayHian
20/09/2016
1.445
1.77
+0.325 (22.49%)
BUY
Maybank Kim Eng
29/08/2016
1.365
1.42
+0.055 (4.03%)
HOLD
OCBC
05/08/2016
1.435
1.53
+0.095 (6.62%)
HOLD
UBS
05/08/2016
1.435
1.42
-0.015 (1.05%)
HOLD
OCBC
25/07/2016
1.49
1.64
+0.15 (10.07%)
HOLD
UOB KayHian
15/07/2016
1.535
1.29
-0.245 (15.96%)
SELL
Maybank Kim Eng
07/07/2016
1.545
1.49
-0.055 (3.56%)
HOLD
CIMB
22/06/2016
1.55
1.29
-0.26 (16.77%)
SELL
Maybank Kim Eng
16/06/2016
1.555
1.29
-0.265 (17.04%)
SELL
Maybank Kim Eng
14/06/2016
1.555
1.29
-0.265 (17.04%)
SELL
Maybank Kim Eng
11/05/2016
1.60
1.56
-0.04 (2.50%)
HOLD
OCBC
http://www.56.com/u76/v_NTYwOTEzNTM.html
While looking for a book in the Baidu search engine, found this video on Federal Reserve to share with all of you.
Thanks for sharing pal, good night 🙂
Patience is a key virtue for value investing. Imho, identifying stocks that have value is the easy part. Having the patience to wait for it to deliver its value is the hard part....:)
A secondary stock mkt consisted of value investors n they are fund managers n institution investors. It also comprised of retailers who are generally speculators. The constant change of hand in shares between investors n speculators are due to their different perception of a company performance.These different perception arises due to different interpretation of accounting results. Investors focus on the core performance measure of a company, operating profit, where else speculators are looking at its net performance.
Example, genting operating performance for Q3 wasn' t good but speculators were rejoicing n bought confidently, hence it create an opportunity for investors to sell when everyone is greedy. I did not sell bcos I had explained before the different between fair value estimated based on current earning without future growth n with future growth projection. Hence, I need not explain again.
Often we need a catalyst for a stock to rally, be it short or long term. Hence, genting prices may continue to move up or it may come down, i wouldn' t know bcos I can' t predict price movement but fundamentally it is still not recovering yet. However I' m not injecting fear, I' m still vested n I strongly believe its business earnings will turn around n it is just a matter of time.
A catalyst can also be misperception of a company performance due to interpretation of accounting results. Thus, investors n retail speculator most of the time took opposite position in their trade due to different interpretation of results n this is also y retail speculators tend to lose money.
Using DBS as another example, it' s operating earnings are doing extremely well as compared to most banks, however bcos of spike in provision, its net profit is subdued n it' s price remain flat.provision is a non operating expense, it will exist even if DBS close shop for next one year. Hence it doesn' t measure the core performance.
However provision is included in net profit, once economy start to recover n banks start to cut back it' s provision, it' s net earnings will rocket. Example DBS Q3 operating earning up 14% but net profit is flat due to more than 100% increased in provision. Once dbs cut back it' s provision to a normal level, it' s net earnings can increased 20-30% n by then it will be perceived as positive by retail speculators n they will buy vigorously n push up the price to valuation.
Thus, current DBS operating performance is perceived as outstanding by investors n they will b hungrily eyeing on DBS shares. Where else the net profit discourages the retail speculators from buying n thus current share prices are languish. As an investor we should thanks the speculator for not pushing the price up currently, in fact, the longer the current price languish the better it is bcos we can have more time to make money to buy more DBS share cheaply.
Once a catalyst set in n stimulated the speculators to buy, prices will rocket n the credit goes to the speculators for pushing the price up, investors don' t deserve the credit bcos we did nothing but wait. Thus, to put it in a crude way, an investor made profit based on a speculator mistake n this cycle will keep repeating bcos after one batch of speculators died off due to lose money, they will be replaced by a younger generation of speculators. Thank you 🙂
Patience is a key virtue for value investing. Imho, identifying stocks that have value is the easy part. Having the patience to wait for it to deliver its value is the hard part....:)
A secondary stock mkt consisted of value investors n they are fund managers n institution investors. It also comprised of retailers who are generally speculators. The constant change of hand in shares between investors n speculators are due to their different perception of a company performance.These different perception arises due to different interpretation of accounting results. Investors focus on the core performance measure of a company, operating profit, where else speculators are looking at its net performance.
Example, genting operating performance for Q3 wasn' t good but speculators were rejoicing n bought confidently, hence it create an opportunity for investors to sell when everyone is greedy. I did not sell bcos I had explained before the different between fair value estimated based on current earning without future growth n with future growth projection. Hence, I need not explain again.
Often we need a catalyst for a stock to rally, be it short or long term. Hence, genting prices may continue to move up or it may come down, i wouldn' t know bcos I can' t predict price movement but fundamentally it is still not recovering yet. However I' m not injecting fear, I' m still vested n I strongly believe its business earnings will turn around n it is just a matter of time.
A catalyst can also be misperception of a company performance due to interpretation of accounting results. Thus, investors n retail speculator most of the time took opposite position in their trade due to different interpretation of results n this is also y retail speculators tend to lose money.
Using DBS as another example, it' s operating earnings are doing extremely well as compared to most banks, however bcos of spike in provision, its net profit is subdued n it' s price remain flat.provision is a non operating expense, it will exist even if DBS close shop for next one year. Hence it doesn' t measure the core performance.
However provision is included in net profit, once economy start to recover n banks start to cut back it' s provision, it' s net earnings will rocket. Example DBS Q3 operating earning up 14% but net profit is flat due to more than 100% increased in provision. Once dbs cut back it' s provision to a normal level, it' s net earnings can increased 20-30% n by then it will be perceived as positive by retail speculators n they will buy vigorously n push up the price to valuation.
Thus, current DBS operating performance is perceived as outstanding by investors n they will b hungrily eyeing on DBS shares. Where else the net profit discourages the retail speculators from buying n thus current share prices are languish. As an investor we should thanks the speculator for not pushing the price up currently, in fact, the longer the current price languish the better it is bcos we can have more time to make money to buy more DBS share cheaply.
Once a catalyst set in n stimulated the speculators to buy, prices will rocket n the credit goes to the speculators for pushing the price up, investors don' t deserve the credit bcos we did nothing but wait. Thus, to put it in a crude way, an investor made profit based on a speculator mistake n this cycle will keep repeating bcos after one batch of speculators died off due to lose money, they will be replaced by a younger generation of speculators. Thank you 🙂
willisow, I have this perspective what u said about your prc girl.Without knowing more details, but base on what u said, u made the assumption she won' t pay u .
No wonder she didn' t contact u after that. U were offensive because u assume she is a freeloader.
It' s quite common among my friends to ask whether we want anything if we go travelling. with close friends, they never ask, sometimes, I will ask them to buy this n that. If expensive, I will pass them the money first.
Don' t be angry, pls . There' s always 2 sides .
Have a great weekend. Pls don' t be mad.
Just saw Hell or high water movie. Go see, entertaining yet poignant.
Just now when I was having my dinner, I heard a couple arguing with each other. Being a kaypoh uncle, I put my ear nearer to listen to what they argue about. The girl said to the guy that she short of rmb50k to open a shop n asked the guy to lend it to her. From the conversation, I think the guy is her boyfriend.The guy said, I saved the money for very long, what if your business fail, there goes all my money. The girl replied angrily n said me more important or money more important? You love me more or money more. I wanted to listen more but they discovered I eardrop n scolded me so I paiseh n dare not listen anymore.
Personally I think this is the problem for Asian, can' t distinguish between love n respect. I love u doesn' t mean I have to accede to your request n u must also respect my decision bcos anything related to money must b dealt sensibly n not emotionally.
Just like the previous prc girl who I knew asked me to buy branded cosmetic from hk for her, on the spot I rejected her n said I can give u tips to buy stock n if u make money u can then buy the cosmetic yourself, thereafter she never contact me anymore. Of cos I' m certainly a miser, however it is also a blessing that I knew one less insincere ppl like her 🙂
Hence, I think western way of dating is the best, very clear cut. Before marriage sign a contract n spell out everything clearly just in case thereafter divorce. But I don' t encourage anyone to think like me otherwise u will b like me, nobody want 🙂
willisow, I have this perspective what u said about your prc girl.
Without knowing more details, but base on what u said, u made the assumption she won' t pay u .
No wonder she didn' t contact u after that. U were offensive because u assume she is a freeloader.
It' s quite common among my friends to ask whether we want anything if we go travelling. with close friends, they never ask, sometimes, I will ask them to buy this n that. If expensive, I will pass them the money first.
Don' t be angry, pls . There' s always 2 sides .
Have a great weekend. Pls don' t be mad.
Just saw Hell or high water movie. Go see, entertaining yet poignant.
Just now when I was having my dinner, I heard a couple arguing with each other. Being a kaypoh uncle, I put my ear nearer to listen to what they argue about. The girl said to the guy that she short of rmb50k to open a shop n asked the guy to lend it to her. From the conversation, I think the guy is her boyfriend.The guy said, I saved the money for very long, what if your business fail, there goes all my money. The girl replied angrily n said me more important or money more important? You love me more or money more. I wanted to listen more but they discovered I eardrop n scolded me so I paiseh n dare not listen anymore.
Personally I think this is the problem for Asian, can' t distinguish between love n respect. I love u doesn' t mean I have to accede to your request n u must also respect my decision bcos anything related to money must b dealt sensibly n not emotionally.
Just like the previous prc girl who I knew asked me to buy branded cosmetic from hk for her, on the spot I rejected her n said I can give u tips to buy stock n if u make money u can then buy the cosmetic yourself, thereafter she never contact me anymore. Of cos I' m certainly a miser, however it is also a blessing that I knew one less insincere ppl like her 🙂
Hence, I think western way of dating is the best, very clear cut. Before marriage sign a contract n spell out everything clearly just in case thereafter divorce. But I don' t encourage anyone to think like me otherwise u will b like me, nobody want 🙂
Yes, during this period, I have Genting n golden Agri.
Golden bot 0.355 very happy , sold 0.38 
.
Then see it go 0.40.
Genting today sold some 0.85, keep some cos looks like got a new trend.
Thank you
Hi Hei,Didnt know u bought Genting also, see u guys made money I' m very glad, congrat 🙂
Hi willisow, thanks for genting !
Subject: Singpost Valuation
announced its Q2 and 6 months financial results. Both Q2 and 6 months operating earnings increased by 4.55% and 9.38% on a year on year basis. As compared to Q1 growth of 15.38%, Q2 had slowed down considerably and mainly due to volume related expenses increased by 38.5% and revenue increased by 22.4% as compared to the same quarter a year ago. Hence cost is rising faster than its revenue in Q2 and operating profit margin was reduced from 16.73% (2016 Q2) to 14.29% (2017 Q2).
My own assessment of its fair value stand at SGD1.09 and ideal entry price at SGD0.93. Below are analyst reference for second opinion. Thank you 🙂
| SGX : SingPost | SINGAPORE POST LIMITED |
| Last Price | Avg Target Price | Upside/Downside | Price Call |
| 1.65 | 1.60 | -0.05 (3.03%) |
|
| * Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months. |
| ** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable). |
| Date | Open Price | Target Price | Upside/Downside | Price Call | Source | News |
|---|---|---|---|---|---|---|
| 02/11/2016 | 1.605 | 1.77 | +0.165 (10.28%) | BUY | Maybank Kim Eng | |
| 28/10/2016 | 1.59 | 1.77 | +0.18 (11.32%) | BUY | UOB KayHian | |
| 28/10/2016 | 1.59 | 1.42 | -0.17 (10.69%) | HOLD | OCBC | |
| 28/10/2016 | 1.59 | 1.77 | +0.18 (11.32%) | BUY | Maybank Kim Eng | |
| 28/10/2016 | 1.59 | 1.76 | +0.17 (10.69%) | BUY | CIMB | |
| 11/10/2016 | 1.53 | 1.77 | +0.24 (15.69%) | BUY | Maybank Kim Eng | |
| 04/10/2016 | 1.48 | 1.77 | +0.29 (19.59%) | HOLD | UOB KayHian | |
| 20/09/2016 | 1.445 | 1.77 | +0.325 (22.49%) | BUY | Maybank Kim Eng | |
| 29/08/2016 | 1.365 | 1.42 | +0.055 (4.03%) | HOLD | OCBC | |
| 05/08/2016 | 1.435 | 1.53 | +0.095 (6.62%) | HOLD | UBS | |
| 05/08/2016 | 1.435 | 1.42 | -0.015 (1.05%) | HOLD | OCBC | |
| 25/07/2016 | 1.49 | 1.64 | +0.15 (10.07%) | HOLD | UOB KayHian | |
| 15/07/2016 | 1.535 | 1.29 | -0.245 (15.96%) | SELL | Maybank Kim Eng | |
| 07/07/2016 | 1.545 | 1.49 | -0.055 (3.56%) | HOLD | CIMB | |
| 22/06/2016 | 1.55 | 1.29 | -0.26 (16.77%) | SELL | Maybank Kim Eng | |
| 16/06/2016 | 1.555 | 1.29 | -0.265 (17.04%) | SELL | Maybank Kim Eng | |
| 14/06/2016 | 1.555 | 1.29 | -0.265 (17.04%) | SELL | Maybank Kim Eng | |
| 11/05/2016 | 1.60 | 1.56 | -0.04 (2.50%) | HOLD | OCBC | |
I just profited from my hk property stocks one month ago n now the hk government announced stamp duty to second property.
If this announcement serve as a catalyst for correction, opportunities may come along the way. Let pray, amitaba 🙂
香 港 增 加 二 套 房 印 花 税 防 楼 市 泡 沫 印 花 税 上 调 至 15%
11月 4日 ， 香 港 特 区 政 府 宣 布 将 向 买 入 第 二 套 住 房 的 香 港 永 久 居 民 统 一 征 收 15%印 花 税 ， 5日 起 生 效 ， 旨 在 打 击 炒 作 风 气 。
香 港 特 区 行 政 长 官 梁 振 英 与 财 政 司 司 长 曾 俊 华 、 运 输 及 房 屋 局 局 长 张 炳 良 、 发 展 局 局 长 陈 茂 波 等 多 名 官 员 4日 召 开 记 者 会 宣 布 了 此 消 息 。
这 是 2015年 2月 以 来 香 港 特 区 政 府 首 次 加 &ldquo 辣 &rdquo ， 按 照 新 规 无 论 以 个 人 名 义 或 公 司 名 义 购 买 第 二 层 楼 ， 均 需 交 15%印 花 税 。 而 目 前 香 港 永 久 居 民 买 入 第 二 套 房 ， 价 值 在 300万 港 元 至 400万 港 元 之 间 的 ， 税 率 为 4.5%； 400万 至 600万 港 元 的 税 率 为 6%； 672万 港 元 以 上 的 为 7.5%； 2000万 港 元 以 上 为 8.5%。
今 年 3月 以 来 ， 香 港 楼 价 掉 头 向 上 ， 3至 9月 楼 价 累 积 升 8.9%， 目 前 以 中 原 领 先 指 数 记 的 二 手 房 价 格 已 非 常 接 近 2015年 9月 的 历 史 峰 值 水 平 。 运 输 及 房 屋 局 局 长 张 炳 良 4日 表 示 ， 投 资 者 再 度 活 跃 市 场 ， 8-9月 投 资 者 交 易 环 比 升 50%， 9月 升 至 2600宗 纪 录 新 高 ， 拥 有 一 处 以 上 物 业 的 香 港 港 永 久 居 民 交 易 9月 达 2300宗 ， 当 前 楼 宇 风 险 上 升 ， 对 社 会 有 破 坏 力 。
梁 振 英 表 示 ， 过 去 港 府 利 用 印 花 税 去 遏 抑 三 方 面 非 自 住 需 求 ， 成 功 减 低 来 自 炒 卖 、 外 来 的 需 求 ， 但 投 资 需 求 却 仍 主 导 市 场 。
特 区 财 政 司 司 长 曾 俊 华 认 为 ， 要 关 注 楼 市 泡 沫 风 险 恶 化 ， 需 采 取 行 动 ， 以 免 危 及 经 济 、 金 融 系 统 。
对 此 轮 香 港 楼 价 上 涨 ， 有 人 认 为 人 民 币 贬 值 的 大 背 景 下 来 自 内 地 的 资 金 推 高 了 房 价 ； 但 也 有 反 对 者 指 ， 事 实 上 不 少 大 手 笔 的 豪 宅 买 家 早 年 已 取 得 香 港 永 久 居 民 身 分 。
I dun think this is common in sg. I certainly wouldn't ask my other half for money. Such arguments in public places probably also won't happen in Singapore unless we are talking about foreigners which I'd witnessed before. Quite a disgrace for the girl to scold the guy for not leaving his wife now that she was pregnant. The conversation was so loud and lasted for more than 20 minutes.
Just now when I was having my dinner, I heard a couple arguing with each other. Being a kaypoh uncle, I put my ear nearer to listen to what they argue about. The girl said to the guy that she short of rmb50k to open a shop n asked the guy to lend it to her. From the conversation, I think the guy is her boyfriend.The guy said, I saved the money for very long, what if your business fail, there goes all my money. The girl replied angrily n said me more important or money more important? You love me more or money more. I wanted to listen more but they discovered I eardrop n scolded me so I paiseh n dare not listen anymore.
Personally I think this is the problem for Asian, can' t distinguish between love n respect. I love u doesn' t mean I have to accede to your request n u must also respect my decision bcos anything related to money must b dealt sensibly n not emotionally.
Just like the previous prc girl who I knew asked me to buy branded cosmetic from hk for her, on the spot I rejected her n said I can give u tips to buy stock n if u make money u can then buy the cosmetic yourself, thereafter she never contact me anymore. Of cos I' m certainly a miser, however it is also a blessing that I knew one less insincere ppl like her 🙂
Hence, I think western way of dating is the best, very clear cut. Before marriage sign a contract n spell out everything clearly just in case thereafter divorce. But I don' t encourage anyone to think like me otherwise u will b like me, nobody want 🙂
Hi Hei,
Didnt know u bought Genting also, see u guys made money I' m very glad, congrat 🙂
Hi willisow, thanks for genting !
