Author: Sillyinvestor

Blood spilling?

No blood on the street, but obviously there are some “injured”counters that were not too far off my “willing price” recently. For fun sake, and also to keep my itchy fingers off, I decided to share what are some of the companies that are cheap if they fall further. I will haphazard a  cheap price to convince myself to do nothing now. So tempted to trade. Bad Sillyinvestor Disclaimer: I am just sharing freely, I may or may not buy when prices are met or even below my willing price. I am not afraid to let other know what...

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Sembcorp industries Part 1

Trying to consolidate my thoughts here. Sembcorp is a cash generating net cash company, with positive FCF 11 out of the 15 years record that I tracked. I am particularly interested in the utilities segment, as I see it as both a cash cow and a growth sector. Since its inception in 2001, it has almost an unbroken track record of growing EBIT (I used this for consistency with earlier 2001-2002 data). While I still cannot not ascertain how much of the revenue is recurring, but I know recurring income form a portion of it, otherwise, it is unlikely...

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Random thoughts: Bo Tar Chey, the in theme now?

I subtly noticed after our PM mentioned about success even without a degree, many have started sharing the Bo Tar Chey BTC ( never study) success stories. In fact, some of the otherwise mild people now openly declare their success as compare to their BTC status. My thoughts on this matter: 1) I agree that u dun need a degree to be successful. 2) However, no need degree does not mean BTC. People who BTC are usually forced by circumstances and not by choice. It could be their family circumstances then were not favorable for education to be pursued....

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Random thoughts: The Mind, Method and Money in the recent correction

Actually I would hardly call this a correction, something around 5-10 % perhaps would mean a correction. Maybe we will get it come next week. Nonetheless, I think the “mind” part of me is better now. I am reading up companies which I think are successful, sembcorp industries, Keppel, Sembmarine, OsIm… Just for fun as I expand my radar. The Money part is already fully vested, so no motivation to do detailed analysis. If the M is there, starhill global and low Keng Huat will be what I will accumulate. Too bad I don’t have strong vitamin M. No...

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Random thoughts: A day without my car

Sent my car for repair. Had both good and bad experiences. The good: Thought it is a good opportunity for my son to experience public transport. Brought him along to the service center and took bus back. He enjoyed the trip. Took the chance to teach him about working life, priority seat and how much cheaper it is to take bus. His fare is free, and he innocently remarked that his trip to school in school bus is also free. I told him it is not free, in fact it cost $2.5 a trip. He couldn’t understand and insist...

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Random thoughts: Making the best out of work

About 6 years ago, I went to see a psychiatrist for anger management problem. He couldn’t find out what is the cause of my flare-up. He ask me how would I grade my satisfaction or happiness I have with my job. I gave a 7. He told me that is very good. Fast forward to today, I would still give it a 7- 7.5. How would u grade your job? In my job, or perhaps in many jobs, passion is important. I remember a trainer telling me his secret to keeping his passion alive. I thought I share his...

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Random thoughts: A short, temporary change of surroundings

We often heard the saying, we need to change ourselves to adapt to the surroundings. Guess you would have heard the saying, “if you don’t change, everyone will be the same” Of course, such classics sayings have their truth. But I have 2 different experiences to share. 1) I went back to Whampoa to visit my parents with my family. The Whampoa Balestiar Area is where I grow up, besides the good food, which the place is famous for, it also has a very high proportion of elderly in the area. I almost missed one old uncle standing on...

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Random thoughts: Chaos at Hong Lim

My view after reading the article “Chaos at Hong Lim  Park Charity Carnival”.  I have this to say to the organizers of the protest and who disrupt the charity event.  1) You are appalling! I am ashamed of your actions. Have you not heard the phrase, pick on someone your size? I would be less appalled had you protested in front of CPF buildings. You have no balls to do it than sticked to you yard at Hong Lim! 2) You do not represent Singaporean, you do not even represent those disgruntled with the CPF system. You are selfish,...

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Random thoughts: My take in Buy term invest the rest

I need to get this off my chest. This is my personal view only. Here is my honest view. BTITR, ( buy term invest the rest) works for some people and will work for almost everyone in the long run. Hence, this is the catch– long term. I am not talking about ILP here. I seriously can’t see much merits in this product. IMO Why, personally, I think investing is fraught with risks and temptations, especially for beginners If anyone read about my profile, I blow almost all my savings on CAO, I pick myself and have a go...

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Vard falls 23% since profit guidance due to pending tax claim – Is itjustifable?

First, I declared no vested interest. I think there are 2 issues here. Tax claim of 200 mio NOK. Assuming provision need to make, and is already made in 2014 1H. 1H will be gone, if 2H is similar to 1H, EPS of 5cents means an PE of 17. It is not cheap. In fact, if you believe on peer valuation of around 12 for OSV company, it stand to fall further to 60 cents? I however, still feel that market overreacted. Why? Lets look at the graph: The fall in price is almost similar, what happen in July...

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Random thoughts: My tough luck with credit cards

This is kinda of a grumpy post, please stop reading if u dun like a dose of negative energy. About 2-3 months ago, I booked an overseas package for the family. There is a discount if we use HSBC credit card. My family do not have one, the sales team is terrific, told me it is ok to pay the balance using hsbc card only later but will accord us the discount. So a week later, I saw a roadshow at Taka and went on to apply my HSBC card. The promotion was quite good, when some free ticket...

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Random thoughts: After thoughts after moving to blogger

Most readers would know I used to blogged at wordpress I came over so that I could apply for Adsense, although I need to wait 6 months, I decided against going for other options as I believe “good things are worth waiting for” I also thought of increasing viewership/ readership for the 6 months would be a good idea. I thought if I do regular company prospecting, my radar expands, my posts frequency increase, my readership increase, and Volia, It is a Win- Win situation. I am aware the advertisement fees if any, in the end, would most probably...

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Reflection on my investment journey on Industrial Reit

I would like to summarize my thoughts on my investment journey with Industrial reit, using Sabana and Ascendas as examples. Here are my main points. 1) The pitfalls of 100% occupancy with Master Leases It is 100% occupied because 1 master Tenant took charge of the whole place, it could be 100% occupied, 50% occupied.  Why does it matter? Because 2 things affect renewal, rental rates and occupancy rates. When I studied the 4 of Sabana Master leases that are expiring in 2013, a couple of the leases have no rental escalation clause, and during the few years, industrial...

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Random thoughts: reflections on buy sell decisions

SMOL ask me if I have a plan. I think he is trying to tell me to find my own style and footing in investing. The weird thing is: I realised many of the little voices guiding my decisions are in one way of another shared by someone. Nicknames are mentioned as a mark of respect and acknowledgement of originality of idea. If any of the readers are the people mentioned, just chill if I interpret it differently. In the end, it is my interpretation of what was said I look at ST and Acendas, and ask myself, If...

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A busy September -Silly’s Changes to portfolio

The following changes took place in September. 1) Switch out of Parkson Retail Asia for Ascendas Reit 2) Include ST engineering to the portfolio. I still believed in Parkson Retail Asia longer term retail story, but I initiate position on Ascendas Reit at $2.24. Given I have also bought ST engineering, I do not want to over-stretched my cash holdings, so I decided to switch out of Parkson, for a higher yield Ascendas and for a nice 15% profit for holding it for less than 2 months. Hmm… Why would a value investor do such short term flipping? I...

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