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Thursday, 19 December 2024

MYEG

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MYEG HISTORICAL PERFORMANCE FY   REV   NP   NPM(%) 2017  372   202   54.2 2018  319   170   53.4 2018  246 -41.4  -16.8 2019  357   175    4...
Wednesday, 18 December 2024

Creating new S-curves - developing new engines of growth - ideally before the current cycle of growth reaches maturity.

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Every business goes through the S-curve cycle of growth:  infancy (low growth),  expansion (rapid growth) and  maturity (slow growth). No ma...

Companies that have STEEPER S-curve cycle of growth with LONGEVITY will also trade at .HIGHER valuations

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Savvy investors know about the corporate life cycle:  start-up,  rapid growth phase,  mature growth phase,  stagnation or outright decline. ...

Personal finance. Know your enemy - Mr. Inflation. Know your friend - Mr. Compounding

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You have to invest. Inflation is the enemy of your cash. Compounding is the friend of your cash. You do not have a choice but to invest fo...
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Only one definition for valuation: the discounted cash flow

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The most popular valuation metrics are  Price/Earnings,  Price/Ebidta,  Price/Sales,  Price/Book value and  EV/Ebitda. (EV or Enterprise Va...
Tuesday, 17 December 2024

Companies trading at below net cash. Opportunity or value trap?

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Companies that are trading at negative enterprise value (EV) EV = market value of common stock + market value of preferred equity + market v...

Time to Monetisation

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Often, companies trade at discounts to their net cash and more broadly, the value of their underlying assets, because of the "time to m...
Monday, 16 December 2024

Hidden debts. How to analyse companies with hidden debts.

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 If you are thinking of investing in the shares of airline, rail or retail companies, and many others, you need to understand of the biggest...
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Saturday, 14 December 2024

DEBTS are often neglected in company analysis and valuations. Red flags.

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Look out for companies that report consistent profits but also a substantial rise in gearing, which would indicate negative FCF.   Receivabl...

Earnings are not equivalent to cash flows

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These metrics rely  on reported profits or earnings rather than cash flows: P/E P/EBITDA P/S P/BV EV/EBITDA Profits may not reflect the actu...
Tuesday, 10 December 2024

The last Malaysian property boom in 2012 - 2015.

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During this period, a friend of mine worked half the time and the other half, he was busy speculating and flipping properties.  He declared ...

Housing (Un)affordability in Malaysia

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Housing (Un)affordability Based on the Medium Multiple approach , as recommended by the World Bank as well as the United Nations. House pric...
Monday, 9 December 2024

US dollar hegemony

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As World War II was coming to an end, 44 Allied nations met in July 1944 in New Hampshire, the US, to design a new set of  rules that would ...
Friday, 6 December 2024

Relative and Absolute Price Earnings Ratio

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Relative PE ratio Relative PE ratio moves up because people expect either the industry or the company's prospects to be better relativ...
Thursday, 5 December 2024

Bacteria and Bricklayers

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Bacteria and Bricklayers Bacteria In bacteria populations, growth is  fixed . Subject to the resource constraints of the environment they in...
Wednesday, 4 December 2024

Trade tariffs

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Lessons from the past In 1930, the USA enacted the Smoot-Hawley tariff, which raised tariffs on imported goods to record levels .  These tar...
Sunday, 24 November 2024

Risk and Ruin

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Risk and Ruin   You can be risk loving and yet completely averse to ruin.   And indeed, you should. The idea is that you have to take risk ...

Things changed. Is detailed analysis of individual stocks necessary?

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Just before he died, Graham was asked whether detailed analysis of individual stocks - a tactic he became famous for - remained a strategy h...
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Thursday, 14 November 2024

Profit drivers

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Monday, 4 November 2024

Have an obsession for cash flow conversion. What is the free cash flow of the company?

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Charlie Munger:  If you take a business that is a GOOD business but not a fabulous (GREAT) business, they tend to fall into TWO categories: ...