Hi guys, just a quick update on my previous post on HLF. I am afraid that I have left out certain information regarding how banks work etc, and that it might be new looking at the balance sheets & profit and loss statements of bank. There’s an active discussion at Value Buddies, a local investing forum, which I recommend you check out if you need clarifications. I have already covered some key points over there such as:

1. How HLF generates its revenue
2. What drives the earnings of HLF (and other banks)
3. Why book value is used as a approximation of intrinsic value
4. Ability of HLF to pay out dividends
5. Impact of property cooling measures on HLF...

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