Showing posts from 2019

Happy New Year!

As we bring the year to a close and usher in the new year, I will just like to wish everyone a Happy New Year and a Belated Merry Christmas, as well as an advanced Happy Chinese New Year! This year has been a blast for me - because my daughter is born. No matter what my returns are, nothing will be greater than her coming into my life. Thus, she is also the main reason I am away again for more than 1 month. Had to help to take care of her during the holidays as well as her taking up all my spare time. So I gave my wishes in advance and also my apologies for being away. Nevertheless, readers will know where to find me. Being the admin, I am super active on my Fundamental Scorecard Telegram Group . Please support and join. I am also continuing to share on my TUBInvesting Facebook Page . Do comment if you have any thoughts. I also tend to be lesser on IN nowsadays. But you can also find me there. Finally, I am also kept busy because I have restarted my portfolio (Yes,

Don't Get Trapped...

Yesterday, during our FATA Seminar 's Stock Discussion, we discussed about some companies and I pointed out some of their issues in the financials. Do note that for our FATA Seminar, we will allow participants to ask about some companies. After which we will discuss about these companies' FATA prospects. Many of the issues came from S-Chips' financials, which many had already cautioned about. However, we discussed about this Singapore company's in the F&B sector, where I mentioned about some figures in the financials that were presented very interestingly. Income Statement Balance Sheet Cashflow Part 1 Cashflow Part 2 Share Price since IPO - Source: Yahoo Let me explained some of the interesting findings: 1. Changes in financials occur due to SFRS 16: Leases 2. Previously, leases were stated under operating leases - these were expenses. Currently, they are capitalised - these became assets under PPE. 3. Under income statement,

GSB Announced Good News + Other Existing Companies In Portfolio

Short Post GSB, which I had just written about recently on 9 Nov 2019, has recently released some good news! Yes! Shortly after I invested in the company, it announces a special dividend of US$3.35 ! That more than 30% of return! So far that is the 2nd piece of good news since the launch of the Crazy Portfolio. I do hope it continues! As for other overseas companies, it is good to note that previously written companies like UVE , GDOT and IGG , still exists within the Crazy Portfolio. Thus that is 5 companies that I have written about. Stay tuned for more! This is the final call! Join us this coming 23rd Nov (Sat)  |  10.30am to 5pm in understanding both FA & TA to make better trading decisions.  iFAST@Ocean Financial Centre 10 Collyer Quay, #26-01 Ocean Financial Centre, Singapore 049315 Course Fee: SGD$30 Register Link Here Thanks for your support!

FATA Idea Room a.k.a The Trading Investor

Hi all, It has been a while since I ran a seminar. I have been trying to collaborate with a TA guru to come up with a Fundamental-Analysis-Technical Analysis (FATA) seminar/course. As you can see...we have yet to decide on the name... The reason for doing this is mainly to value add to our respective communities. I do believe that having some TA knowledge can help an investor find a better entry point. For a trader, having simple FA knowledge can bring about better gains or what happens if you miss a stop loss? The seminar structure will be as follows: - Intro - FATA Mental Framework - FA - The Most Important Ratio - TA - Her Unique Style - Lunch - Stocks Discussion (Highlight of the day) - End In my opinion, the stocks discussion is the highlight. For whoever that sign up, I will ask you for a counter. Then we will try our best to talk about all the counters during the seminar. Course Date: 23 Nov 2019 (Saturday) Course Time: 10:30 am - 5 pm (Apprx) Co

KEM - The One That Got Acquired Before I Could Write Extensively

Short Post With the start of Crazy Portfolio, TUBInvesting new direction is to be the diary of the portfolio and to put up post about my journey to eventually achieve my crazy target! Thus, it was natural that I wanted to record down all the companies that was part of this portfolio. However, this company, Kemet Corporation was acquired by Taiwan-based electronic component manufacturer Yageo for $27.20/share in cash, for a deal valued at $1.8B including the assumption of debt, before I could even do a proper write up. Read about the acquisition here I personally feel the purchase price is too low. Anything above US$30 will be more reasonable. To give you some perspective, the 2018 10-k stated the following: 1. "...The Company has entered into agreements with three of its largest customers pursuant to which the customers have agreed to provide interest free loans to the Company in exchange for assurance of future supply. These interest free loans are being used by the

GSB - Enhanced File Transfer On Cloud Services

This post is a reminder for myself of why I invested in the above company. I am vested and comments maybe biased. For future posts, I will be talking about my positions in the Crazy Portfolio . Numbers/Finance Increasing Revenue, Net Profit – Over the last 3 years, the total revenue has just been increasing. So does the Net Profit. However, if you look at the TTM (Trailing 12 Months) figures over the last 5 years, it is very clear the company’s top line has been improving every quarter, so does the bottom line. Data from Seeking Alpha - Annual Revenue Data from Seeking Alpha - Annual Net Profit Data from Seeking Alpha - TTM Revenue Data from Seeking Alpha - TTM Net Profit Reasonable Balance Sheet, but Great Returns – Balance sheet has been reasonable with very low debt. Its not exactly a NCAV company and it has significant intangible. But it has great returns. Data from Low Capex, Good FCF – It has consistently generated FCF for the las

Start of The Crazy Portfolio - Today!

This is just a simple post to dedicate to the start of the Crazy Portfolio for the next 10 years. This meant that those companies I intend to allow to remain in my portfolio will restart as of its share price on 28 Oct 2019. As stated previously that this portfolio will be more focus on overseas companies, with SG listed companies setting a base. The ratio will probably be 60/40. In the event I hit my target within 10 years, I may just stop at that. A new start and I look forward to a bright 10 years. Ready, Get Set, GO!!!!!!

Crazy Portfolio Target - 200% to 400% in 10 years

As you grow older and your life changes, you tend to have different goals and different objective. With a newborn, I tend to think more about the future and if I have the ability to provide the necessary for her, especially her future university studies. (For those that are curious, daily needs is met. So just thinking about the major expenses in the future lah...) Its definitely gonna be expensive with all the inflation and dependent on what kind of course she wants to take. These thoughts just fill my mind and I think its time to plan ahead. I probably have 15 to 18 years ahead of her university studies. As an ordinary man/employee, my only belief is that I invest slightly better than average. So I hatched a CRAZY plan: To create a portfolio for the next 10 years with a target of 200% to 400% gain . The long tenure period of the portfolio is also a cushion to allow the economy to recover from all the issues that is happening in the market (Trump, Trade War, Brexit,

UVE - A Company That Thrive In The Most Competitive and Dangerous Landscape!

This post is a reminder for myself of why I invested in the above company. I am vested and comments maybe biased. Numbers/Finance Increasing Revenue, Net Profit, Dividend – Over the last five years, the total revenue has just been increasing. Although you can’t say the same for net profit, but on an overall basis, it has also been increasing. As for the dividend, it has also been increasing. Love it (Remember this trend and it will be explain further in the catalyst) . Source: FY2018 10-K Improving Balance Sheet – Balance sheet has been improving with the rise in total asset along with the rise in Book Value. ROE, Long Term Debt, Combined Ratio – Return on equity has dropped, but it has maintained at 20+%. But this ROE comes along with low Long Term Debt (Hint!) . In addition, just looked at the returns of UVE vs competitors. Furthermore, Combined Ratio* continued to remain below 100%. *As per Investopedia, “The combined ratio is a quick and simple way to mea

IGG (HK Listed) - A Company with Amazing Returns!

This post is a reminder for myself of why I invested in the above company. I am vested and comments maybe biased. Numbers/Finance Amazing Returns in 2017 and 2018 – ROA are more than 45% and ROE are more than 65%! In addition, no comparison among competitors in terms of returns based on 2018 figures: Feiyu Technology International Co Ltd (1022) - Loss making Zynga Inc (ZNGA) - Loss making Ourpalm (300315) - Loss making Linekong Interactive Group Co Ltd (8267) - Loss making Netmarble Games Corp (251270) - Super high PE + Low ROE/ROA Colopl Inc (3668) - Super high PE + Low ROE/ROA Digital Hollywood Interactive Ltd (2022) - Super high PE + Low ROE/ROA NetDragon Websoft Inc (0777) - high PE + lower ROE/ROA Boyaa Interactive International Ltd (0434) - Low ROE/ROA FingerTango Inc (6860) - Listed 2 years… reasonable ROE/ROA iDreamSky Technology Holdings Ltd (1119) - Listed 2 years… reasonable ROE/ROA Zengame Technology Holding Ltd (2660) - Listing less than 1 year NCsoft

GDOT (US Listed) - Reasons I Invested In It

This post is a reminder for myself of why I invested in the above company. I am vested and comments maybe biased. Numbers/Finance Growing Revenue, Net Profit, Cash from Ops, with consistent FCF generated – A business taking on market share and continuously generating FCF. No more debts – A growing business allows the company to reduce its debts. Currently it do not have any debts. Thus, there will be significant interest saving moving forward. US$6.5 million of interest expense is paid in FY2018. DCF calculation – I have a weird way of doing DCF (high discount rate of 15% to 30%) with 0 growth based on the past 5 years of FCF. This DCF allows me to come up with a $19.77. But what happens if 1% of growth occurred and a more regular discount rate of 10% is taken into effect. Reasonable Ratios - PE stands at 13.15 and PFCF stand at 7.94. This doesn’t shout value. But they are reasonable comparing to other Fintech out there which is still burning cash. (I compare with Fintech beca

The Usage of Timeless Theories

In the world of investing, there are numerous Gurus which came up with different theories that allowed them to make significant gains over the super long term. Many of us tried very hard to mimic these theories in real life and we gave up half way. There are many reasons why we gave up: 1. We cannot wait so long. 2. My holding power is not as long as theirs. 3. We are in a growth stage. 4. Recession is coming. 5. We are not them. and many more... In my opinion, whoever follows these timeless theories must understand the following 3 points:  (1) the main gist of the theory:  For example, Ben Graham theories requires you to understand liquidation value, while Warren Buffett/Charlie Mungar requires you to understand competitive edge. (2) the theory behind long term holdings: Long term holdings doesn't really mean buy and hold forever. If there are negative fundamental changes, we should be quick to sell those holdings. In my view, long term holdings meant that

Met An Angel and My Trade-War Portfolio

Yesterday I met an angel investor. I meant he was definitely rich and successful when we communicate. But when he gave me a figure (a figure I felt could be more than my annual package) and stated it is nothing much. It really made me think twice. This is not the first time I talk to entrepreneurs, the successful ones that has sold businesses and made tons of money, and he made me felt small. So small - I am not being emo here again, just sharing my thoughts. It made me felt that no more time should be wasted - Thus, next month things will restart and I hope more good things will come along! We also had a chat about what I am doing here on this blog and Fundamental Scorecard. The conclusion - its a hard way (Probably the worse) to make money! Nonetheless, since I have already been on this journey, I decided I should probably give myself another 2 years - Before I decide to go back and just focus on the corporate ladder and the rat race. My Current Portfolio I have made c

I am back. I am Terence.

Hi all, Sorry for the long absent. Being a dad now to a 3 month old new born, time is probably one of the most precious resource now and in future. Taking on a new job for the last 4 months has also been quite tough. You realize, again, that it is hard to make everyone happy. When you constantly hit a brick wall at work, you will be amazed at how fast the "fire in the belly" get extinguish. With those thoughts, you start to question what do you want to achieved in life? Especially with the T.U.B Investing blog and Fundamental Scorecard. To be honest, I am just an ordinary folk who works a 8 to 6 job and hope to win Toto every single week. I am not a wealthy nor a rich folk and I stay in a four room flat like you. I take the MRT to work and do not have a maid. With my family, I just want to bring joy and happiness to their life. At work, I just hope to value add to my company. Through these years of writing my blog, starting Fundamental Scorecard, starting the

Hiatus For The Next 3 Months...

The title say it all. The reason is because I am currently taking on a new role in my working environment and I am also taking on a new role in my personal life. In addition, I am still investing, managing my FB page and the Fundamental Scorecard telegram group, writing new articles on a monthly basis for the Moat Scorecard subscribers, looking after the subscribers of Fundamental Scorecard website, and once in a while, I will still conduct courses and seminars. Just too many things.  Thus, I decided I have to take a break from writing new articles for T.U.B Investing Blog. Nevertheless, you still can find me at: 1. My Facebook Page - T.U.B Investing 2. Fundamental Scorecard Facebook Page 3. Fundamental Scorecard Telegram Group - This is the place where I shared my new thoughts and ideas much more readily. This is the place where you could ask me and Simple Investor anything. Join Us! 4. Subscribe to Moat Scorecard 5. Subscribe to Fundamental Scorecard Website 6. Fi

The Margin REIT Strategy - A Strategy In Writing (Please Complete Reading The Article!)

I am never interested in margin before meeting J. To me, I always feel human emotions are unable to control the use of margin. Leverage is such a powerful seductive tool that I do not believe any person can escape from it once he/she touches it. Similarly, to believing justice will prevail, I believe in not giving margin a second look. Nevertheless, I met J recently and he showed me how he used margin to invest and achieved 10% gain p.a. since 2016. To be honest, 10% is not huge. But a consistent 10% is a relatively good return. He basically compares “margin investing” to buying a property. I specifically think it should be compared to buying a 2nd property. This is because his method requires us to consider rental income. I believe we seldom will rent out the 1st property out. The 2nd property will probably be the one to be rented out. 2nd Property Purchase Scenario You decided on a $1 million property. Since it is the 2nd property, you decided to borrow the maximum 45%