Author: The ThumbTack investor

11% Returns In A Single Day. Thank You Blue Orca Capital!

Damn, the title looks so clickbait-ish. Except it’s not: Approximately USD 5.5K + of returns in 1 day, with an invested capital of approximately 50K +. Here’s the story. 3 days ago, Blue Orca Capital released a short attack on data centre operator, GDS Holdings. You can read the specifics here: https://static1.squarespace.com/static/5a81b554be42d6b09e19fc09/t/5b6070a60e2e72e41d0d78aa/1533046975799/Blue+Orca+Short+GDS+Holdings+%28NASDAQ+GDS%29.pdf BTW, I love how they open their short sell reports: “THIS RESEARCH REPORT EXPRESSES SOLELY OUR OPINIONS. We are short sellers. We are biased. So are long investors. So is GDS. So are the banks that raised money for the Company. If you are invested (either long or...

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Wow. In My 4 Years Of Experience In Options… This Is A First.

I wasn’t intending on a post so quickly after the previous one. But this is quite crazy. Some recent positions have done really well, really quickly. I’ve written, in real time, about each of these positions in InvestingNote. First, I bought some shares in Singtel at $3.12, trading it a mere 2 days later at $3.25, which is pretty good. I don’t really wanna write too much about this cos lotsa guys own Singtel, and it hasn’t been very rewarding. Many tortured souls out there, don’t want them coming up to me with pitch forks. Next, I built a...

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TTI: “I’m Sorry, It’s All Over Between Us. I’m Breaking Up With You”

Dear Disney, I’m sorry it has to end, but it’s all over between us. I’m breaking up with you.  I know, I know, we only really just got together barely a month plus ago (FY18Q2 -“Fun Isn’t Something One Considers When Balancing TTI’s Portfolio. But This…(heh heh heh heh) Does Put A Smile On My Face.”) Look, I’m not a player. I really thought we were going to last… I mean, we really connected the past month, didn’t we? We had really really good times together and I really planned on holding on to you. Some nights… oh my....

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Smile Just Got A Bit Wider

Thanos snaps his fingers and half the multiverse population disappears. TTI snaps his fingers and US ROI doubles. Yea, if u haven’t figured it out, TTI is a fan of Thanos. Avengers? Bleh. I don’t understand why is Thanos the villain. I know I’m the odd one out cos when I discussed my views, none of my friends agree. Yet, why exactly, is he the villain? He just wants to balance the universe. He’s not doing it for personal gain, he doesn’t gain anything. The glove’s destroyed after he used it btw. Yes, it looks like population genocide, but...

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FY18Q2 -“Fun Isn’t Something One Considers When Balancing TTI’s Portfolio. But This…(heh heh heh heh) Does Put A Smile On My Face.”

What do these have in common? Answer: Thanos, Tesseract, TTI, Thor are some of the most powerful characters/relics around……. oh, oh, and also, all of them belong to the Marvel Cinematic Universe, the rights of which are owned by The Walt Disney Company since 2009, and of which TTI is a newly minted shareholder. (And still increasing my position gradually via options). Infinity Wars has also garnered $2bil in ticket sales worldwide… and counting. The company garners $8bil in FCF every year, and what’s even better is that instead of distributing that in the form of dividends, the management...

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TTI’s Short Hedges

Since my previous post on Dutech (Dutech Holdings FY17’s AGM), the company has released it’s FY18Q1 results and I’ve had time to peruse it. I feel pretty much  vindicated, although the headline news don’t quite describe it as such. Anyway, maybe I’d write about some new findings in the next post. Of late, markets have been on a tear. US earnings season is well underway and in fact, near completion. Judging from how the S&P index has been performing, it seems like the general consensus is that good times are back, and that the earnings thus far, have met...

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Dutech Holdings FY17’s AGM

1stly, something unrelated to Dutech Holdings. I drove down to BBR Holding’s project, The Wisteria to take a look today. Kinda disappointing that the project is taking so long to TOP. I was informed by sources a few months ago that it’s slated to TOP in mid April. So, obviously, they’re late, cos today it still looks like this: Officially, the given time frame for TOP is announced as Q2, so the project is not considered delayed. (But unofficially, I know it is) I can see the signboards of the various tenants though, so it can’t be too far...

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Convertible Bonds + Bye Bye LTC!

Zero posts in the past few weeks, and for good reason too. Phew. I’ve been busy working on the convertible bond offering, and finally, I’ve some tangible results to show for it. As I was discussing with a friend, life is really funny sometimes. Sometime ago, I was looking for potential co-investors and not getting much headway after meeting many different folks. Barely a week later, I’m now kinda flooded and am not really looking for any more capital. There’s a limit to the amount of convertible bonds that’s allotted to me anyway. I have to keep some for...

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1Q 2018 Report Card

1st up, I’d clarify, as I’ve always done so for previous quarterly report cards, that I track returns using XIRR. So this means that the time value of cash is taken into account in the results, but it also skews the annualized XIRR figures for now, as it’d assume the exact same rate of return for the rest of the year. For 1Q 2018, STI ETF produced a XIRR of 4.01%, inclusive of dividends. TTI’s portfolio, inclusive of US holdings and options, produced a XIRR of 6.22%.  AUM grew to $1,462,273.22, inclusive of capital injections, of which almost 35%...

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An In-depth Look Into Volatility By TTI

I swear I did not time this article. LOL. Barely 6 weeks past the previous armageddon scenario with VIX going ballistic, it seems like everything’s beginning to repeat itself. In the previous post (The Big Short: TTI’s Version. But Where Are My Millions?!), I wrote about my personal experience. Since then, I’ve spent the past several weeks understanding volatility and its derivatives more. This is an add-on to the previous post, and hopefully, a dissection of my new insights. There hasn’t been any new updates here for a while, as I’ve been bustling around. As mentioned in my earlier...

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The Big Short: TTI’s Version. But Where Are My Millions?!

SG TTI has a new feature! Right there, at the top bar, under “Latest Corporate News” will be a newsfeed, run by PRNewswire Singapore. Check it out. It’s not very user friendly right now though tbh, I’m not sure if they can incorporate it into the side bar or something, so that it’s constantly running. (They probably can, but I dunno how to) Let’s see if they can do it up better for SG TTI. A long time reader recently emailed me to discuss about my macro views. (I’d leave it to him whether he wants to identify himself...

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“Where Art Thou, White Knight?” – LTC Corporation’s Privatization Offer.

My style is to normally have some frivolous stuff at the start, before jumping into the hardcore investing stuff. But since I’m here paging for some deep pocketed white knight to look at unlocking the value for LTC Corporation (further), I’d better just get into it right at the get-go. Last Friday (I think it was the 9th Feb), was one of those rare days whereby I literally bounced around with a spring in my step. EVERYTHING went well for me that day. Like everything. But I’ll just talk about 1. It was 1 of those days whereby I...

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Divestment Of Shinsho Corporation & Kobe Steel – TTI’s Post-Mortem

1stly, some thanks is in order. Lilin from SGX told me they’re sending “Team ThumbTack” (as they so affectionately put it) some red packets for CNY, and I was expecting a couple of packs in the mail. Then my guard passed me this: Inside was a massive box of several packs of red packets. Wow, that’s enough for several CNYs. How’s that for some festive mood? Plus they’re smart enough to have generic red packets that can be used regardless of which year it is. So thank you, SGX! 3 months ago, in Nov 2017, I wrote about my...

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Evidence Based Investing – TTI’s Case Reports

In medicine, clinicians have to practise evidence-based medicine. What does that mean? It means you can’t just carry out a procedure or a treatment, based on your mood, your personal beliefs or what you personally think will work, even if you have strong personal grounds to believe it’d work, or even if you have good intentions. You get into trouble for doing that. Good intentions, no matter how pure, is not a defence. Everything must be evidence based, that is, based on literature from research work done by heroes who devote their lives to doing research, all for the...

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Experts In WEF Davos + Updates On Shinsho Corporation

I’ve been getting myself updated with the views (At least, the publicly stated ones) of experts attending the World Economic Forum in Davos. Not sure why it’s always held there. It looks terribly cold. How to think? LOL. Several years ago, I was stuck in Switzerland for an entire month, and I used that time to travel around the entire Switzerland, yet I never thought of going near Davos. It’s just so… isolated. How did I get stuck in Switzerland? I was in Geneva for a conference. Around that time, an Icelandic volcano erupted, and the ash cloud drifted...

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