If you are a believer of the Fundamental Analysis, like myself, I am sure the company’s Annual Reports are your regular reading materials. I must say that at the beginning, the usually thick Annual Report looks quite intimidating, but after reading through a couple of them, you will get the hang of it and know which are the section to focus and which are the section to ignore. Unlike reading a novel, there is no need to read the Annual Report from front to end, unless you are paid to do so or really, really, really like to read the Annual Reports (like Warren Buffett).   

In fact, we should consider ourselves lucky because the Annual Reports of the local companies are usually came with full-color and nicely presented summary that we can have a bird’s eye view on the company’s overall performance for the past year or so. Nowadays, …