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juno.tay

Tay Fund Portfolio NAV Update April 2012

April 27, 2012 by juno.tay
Accurate as of 20 April 2012 Initial Net Asset Value: $10.00 Net Asset Value as of  April 20 2012: $11.28 Hypothetical Growth of $10,000 invested since September 2011 (NAV at September 2011 was $9.71) * A total return index is an index that measures the performance of a group of components by assuming that all cash [...]

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Tay Fund Semi-Annual Letter

March 19, 2012 by juno.tay
Our macro thesis for investing in financial institutions was laid out earlier on in the following posts: Tea with a macro-investor, thoughts on the financial sector Tay Fund Commentary 2011 , and more specifically, our investment thesis for Bank of America, The Compelling Case for Bank of America – Research Report I feel somewhat vindicated that our [...]

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Tay Fund Portfolio NAV Update March 2012

March 17, 2012 by juno.tay
Accurate as of 17 March 2012 Initial Net Asset Value: $10.00 Net Asset Value as of  March 17 2012: $12.02 Hypothetical Growth of $10,000 invested since September 2011 (NAV at September 2011 was $9.71) * A total return index is an index that measures the performance of a group of components by assuming that all cash [...]

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Warren Buffett: Why stocks beat gold and bonds

March 15, 2012 by juno.tay
Adapation from his 2012 shareholder, Warren Buffett explains why equities almost beat alternative investments most of the time. I hope you enjoy it. By Warren Buffett FORTUNE — Investing is often described as the process of laying out money now in the expectation of receiving more money in the future. At Berkshire Hathaway (BRKA) we take [...]

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What Should You Do With Your Money?

March 15, 2012 by juno.tay
Since the blog’s inception in December in 2010, it has garnered over 15,000 views – something which I am both amazed and humbled at. Looking back, it has been an exhilarating journey of refining my mental models that I use to approach investing. Although the basics of what I do is still grounded firmly in [...]

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Tay Fund Portfolio NAV Update February 2012

February 20, 2012 by juno.tay
Accurate as of 17 Feb 2012 Initial Net Asset Value: $10.00 Net Asset Value as of  Feb 17 2012: $11.31 Hypothetical Growth of $10,000 invested since September 2011 (NAV at September 2011 was $9.71) * A total return index is an index that measures the performance of a group of components by assuming that all cash [...]

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Tay Fund Portfolio NAV Update January 2012

January 21, 2012 by juno.tay
Accurate as of 21 Jan 2012 Initial Net Asset Value: $10.00 Net Asset Value as of  Jan 21 2012: $10.79 Hypothetical Growth of $10,000 invested since September 2011 (NAV at September 2011 was $9.71) * A total return index…

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Tay Fund Commentary 2011

January 21, 2012 by juno.tay
As investors, it’s easy to get caught up in the hysteria and follow the herd. And yet, to earn a return that is excess of the market’s requires us to act against conventional wisdom. Markets are whimsical and it is my firm belief that it should never replace independent thought, especially when it comes to [...]

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Tea with a macro-investor, thoughts on the financial sector

December 22, 2011 by juno.tay
I was very lucky to meet a good friend of mine, Daryl Chia, for tea to pick his mind and share ideas. He’s a very talented and hardworking investor who was featured in the Business Times. You can check out his site here. You can expect great things to come from him in the future. [...]

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Update 1 – Presentation – Why Hong Leong Finance is significantly undervalued at today’s price

December 20, 2011 by juno.tay
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 [...]

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Presentation – Why Hong Leong Finance is significantly undervalued at today’s price

December 20, 2011 by juno.tay
Here’s a presentation I prepared personally outlining the compelling case for investing in Hong Leong Finance. It’s my second best idea with regards to Singapore equities this year and I hope you enjoy it. The underlying idea is simple, Hong Leong Finance (HLF) trades at a significant discount to book value. If you look at [...]

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Portfolio & NAV Updates December 2011

December 18, 2011 by juno.tay
Here’s a quick update on NAV of the fund and its current holdings. There will be a follow up post in the coming week where I discuss the changes in the portfolio and the general market condition. Accurate as of 18 Dec 2011 Initial Net Asset Value: $10.00 Net Asset Value as of  Dec 18 2011: [...]

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The Compelling Case for Bank of America – Research Report

November 22, 2011 by juno.tay
The Compelling Case for Bank of America Bank of America is probably one of the most hated and reviled corporations in America right now. They are the poster boy for just about everything that’s wrong with the American financial system – from corporate greed, TBTF banks, excessive compensation etc. However, with all the emotions involved, [...]

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Portfolio & NAV Updates

November 5, 2011 by juno.tay
In order to track my performance throughout the years, I will be posting updates regarding my portfolio, and to share my current thoughts about the market. I intended to post this much earlier but work caught up with me. Readers can expect me to update this quarterly, and they reflect the current NAV of my [...]

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Spotlight on Starhub – Why I Think It’s A Bad Investment Despite The 7% Yield

August 25, 2011 by juno.tay
Really short post. I have noticed that the share price of Starhub has been rising significantly in the recent weeks, and that quite a few people have been recommending Starhub based on its yield. Although I think the company is fundamentally sound, I feel that investors are focusing too much on the yield and ignoring [...]

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Investing In US Equities..But What About The Devaluation of the US Dollar?

August 24, 2011 by juno.tay
One of the questions I hear about investing in the US Market (as an international investor) is the recent devaluation of the US dollar. While I agree that its a valid concern, I would like to highlight something to my readers to put this in perspective. First off, lets look at the graph: * The [...]

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Investing When The World Crashes – The Compelling Case For US Equities

August 23, 2011 by juno.tay
For those in tune to the financial turmoil, you will need no introduction to the insane roller coaster ride that equities market have been put through the past month. Yet amid this madness, is there value to be found? Now, for those who are true value investors, perhaps the most important lessons that we learn [...]

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Release of The Warren Buffett Investing System Book

April 29, 2011 by juno.tay
Dear Readers, I am extremely excited to announce the release of: This is something that I have been working on for a very long time now. In essence, it is a distillation of both my work, experience and research into Warren Buffett & his investing method. It covers everything from the basics of finding “Buffett” like companies [...]

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