During the 1st and 2nd Sharing Session with T.U.B, the participants had always asked "Why Enhanced Triple S Scorecard has no ROE Criteria?" ROE = Return On Equity. Although I had written about this point before, but I realized it was a wrong conclusion. After thinking for a long time, I came up with a few reasons: 1. Earnings are manipulated. ROE requires to include earnings as the numerator of the formula. But for anyone whom has attended my Sharing Session with T.U.B will know that I do not use earnings (in this case, net profit) in my calculation because it can be manipulated. 2. Value Not Return. Rather than looking at "Return" Ratios (ROE, ROI, ROA, etc), my Scorecard is searching for a "Value" Stock. A stock that is undervalued in terms of assets and cashflow. Furthermore, "Return" Ratios do not incorporate the ......