Author: (The) Boring Investor

Giving Back to Society

It is rare for financial bloggers to talk about donations, but as the Chinese saying goes, “取之于社会,用之于社会”, which translates to “giving back to society what we take from society”. It is important that we occasionally gives back to society, to pass on the help that we received from others. We can do this by sharing our knowledge and experience, but I believe we can do more by making a donation to a charity of our choice on a regular basis. I’ve set up a new page on this blog that links to SG Gives, which is an online charity portal,...

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What Happens When Your Shares Are Compulsorily Acquired?

Two months ago, I had blogged that I would not accept fully Capitaland’s privatisation offer for CapitaMallsAsia (CMA). I wanted to have a taste of being a shareholder in an unlisted company. Unfortunately, Capitaland managed to acquire enough shares to compulsorily acquire all the shares, even from dissenting shareholders like myself. How was the compulsory acquisition carried out? After the close of the privatisation offer on 9 Jun 2014 when Capitaland announced that it had acquired sufficient shares to exercise its rights to compulsorily acquire all the shares, Capitaland sent a letter on 16 Jun 2014 informing all remaining...

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An Advice for Myself

A reader left an interesting question after reading my post on Investing Is A Life-Long Learning Journey. His question was “28 years is almost 3 decades, if you can start all over again, what would be your best advice to the past you?” This is by far the most thought-provoking question I have ever received on my blog. I replied with a short answer, but after thinking more thoroughly about it, I decided to post a fuller answer to this question. There are many investment strategies that work, be it value investing, growth investing, dividend investing, index investing, etc....

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The Bounceback Portfolio of STI

One of the good things about blogging is that you get to learn from your readers as well. A reader introduced me to the Bounceback Portfolio and requested me to carry out a review of it in Singapore’s context. The idea of the Bounceback Portfolio is that a portfolio of the 10 worst performing FTSE350 stocks in one year has historically beaten the index in the first three months of the following year. However, when I apply the idea in Singapore’s context, I faced 2 issues immediately. Firstly, the corresponding index to FTSE350 is actually the FTSE ST All-share...

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Investing Is A Life-Long Learning Journey

It is often said that it is important to start investing early, so that the magic of compounding can do its wonders. For investors who are keen in active investing, there is another reason for starting early, which is that it takes time to learn about investing. Thanks to my father, I was introduced to investing at the age of 11, and yet after 28 years, I am still learning about investing. Below is an account of my learning journey in investing. The Growing Years (1986 – 1998) From 1986 till 1998, I was helping my father monitor stock...

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Confessions of a Serious Investor

Investing is a fascinating subject. It has the ability to captivate millions of investors and make them willing to watch stock prices on monitor screens for long hours. It also has the powers to galvanise investors to comb through long pages of financial statements filled with financial jargons without getting tired. You could be investing for 30 years and still not get sick of it. Yet, this passion for investing could present both joys and heartaches for many investors in their investment journeys. The Awakening Moment I cannot speak for all investors, but I think some investors will have...

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The Salted Fishes

In my previous blog posts, I have been sharing my experience with multi-baggers. In this blog post, I will share my experience with those stocks that resulted in wipe-outs and write-offs, in the hope of avoiding the next wipe-out or write-off. Wipe-outs refer to stocks whose companies went bankrupt or were delisted with no exit offers, while write-offs refer to stocks, which although still listed on the Singapore Exchange (SGX), had declined substantially from my buying price and were written off. In my 16 years of experience investing with my own money, I have a total of 3 wipe-outs...

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Multi-Baggers — To Hold or Not to Hold?

In my previous blog post, I shared the various ways in which you could get multi-baggers. There were a few interesting comments from Lizardo and Uncle CreateWealth8888, namely, what would have happened if I had held on to the multi-baggers and not sold them? The results are shown in the table below. Counter Date Bought Date Sold Avg Buy Price Avg Sell Price % Gain Current Price % Add Gain Remarks Surface MT Apr 01 May 01 $0.315 $0.660 110% $0.001 -100% Conso Multichem Wt Jul 01 Jan 04 $0.093 $0.205 120% Expired Fischer Sep 01 Jan 02 $0.148...

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How to Get a Multi-Bagger?

In my last 2 blog posts, I identified the multi-baggers listed on the Singapore Exchange from May 2006 and May 2014 and categorised them according to the industry they are in. This is to understand where multi-baggers come from in the hope of finding the next multi-bagger(s). In this post, I reviewed the list of all multi-baggers that I had since I started investing with my own money 16 years ago. Sad to say, despite the wealth of investing experience, I only have 18 multi-baggers and over the same period, I also have 3 wipe-outs and 8 write-offs. The...

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Origins of the SGX Multi-Baggers

In my previous blog post, I identified all the multi-baggers that are listed on the Singapore Exchange (SGX) that retained their original stock codes between May 2006 and May 2014. I also categorised them according to price ranges to identify which price ranges are most likely to produce multi-baggers. In this blog post, I have categorised the multi-baggers according to their sectors (as classified by SGX). Here is the list of multi-baggers with their sector identification. And thanks to Uncle CreateWealth8888’s suggestion, I have also added their share prices during the lows of the Global Financial Crisis (GFC) in...

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The Multi-Baggers of SGX

The concept of multi-baggers was first made popular by the legendary Peter Lynch in his book “One Up on Wall Street”. A multi-bagger means that a share has multiplied several times over in price. Do multi-baggers exist on the Singapore Exchange (SGX), or are they confined to US shares which have a lot of geography to grow their businesses compared to Singapore shares? Here is a list of all multi-baggers listed on the SGX that retained their original stock codes between May 2006 and May 2014. In total, there are 442 shares out of 709 shares in May 2006 that...

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Size of Fish Matters!

In my last blog post, I mentioned that while the size of the Singapore Exchange (SGX) pond (i.e. no. of shares listed on it) has became slightly larger over the last 8 years, the size of fish (i.e. average price of each share) in the pond has became smaller. Does the size of fish matters? Here, I tracked the performance of shares that retained their original stock codes over the 8-year period from May 2006 till May 2014 and measured whether they have performed worse (posting more than 10% loss), the same (posting between 10% loss and 10% gain),...

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The SGX City

Due to home bias, most of us invest only in the local stock market. The state of the local stock market is thus of significant importance to us. Have you ever wondered how the Singapore Exchange (SGX) would look like if it were a city? Assuming that each stock listed on the SGX is a building, and using the price of the stock as the height of that building, I plotted the view of SGX City in May 2014. View of SGX City in May 2014 For comparison, I also plotted the view of it in May 2006. View...

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Stock Market Performance During World Cups

In another 2 days’ time, the world’s most eagerly awaited event would take centrestage. This event is the World Cup, which happens once every 4 years. A lot of people would stay up late in the night to watch their favourite teams in action. Everything else would take backstage, including wives, girlfriends, and for some, stock trading. How does the local stock market perform during the World Cup? Here, I compare the performance of the Straits Times Index (STI) during the years when World Cup is staged and during other years. The World Cup usually starts in mid-Jun and...

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The Last Stand on CapitaMalls Asia

Perhaps by 8am Monday morning, this blog post would have been overtaken by events. Nevertheless, I still wish to share my actions and rationale on the privatisation of CapitaMalls Asia (CMA) by Capitaland. As mentioned in my blog post a month ago on Playing Poker With Capitaland Over CapitaMalls Asia, I would accept Capitaland’s privatisation offer if it manages to own more than 90% of the shares so as not to be caught in the no-man’s land where Capitaland has acquired sufficient shares to delist CMA but insufficient to compulsorily acquire all the shares. On the morning of 5 Jun...

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