冷眼先生-交流记

冷眼先生-交流记

今天很有幸的，能与冷眼先生有个交流会。就在此和大家分享吧。
一直以来有99%的人都会问他对市场的看法。这让冷眼先生很不解，为什么大家都不是问他对公司的看法呢。投资本来就应该关心公司的营运和前景，而不是市场。他对目前市场走势也不了解。

投资模式有很多。无论什么数据和计价证明，只要你不能从股市赚钱，一切都是空谈。投资本来是件很简单的东西，但很多人却把他复杂化。只要你能从生意的角度去看价值，市场的行情走势和股价对你不会有影响。

以AirAsia为例子，他说如果给你选AAX和AirAsia，你会选哪个？其实这答案很简单。冷眼先生说如果想起国内航班或便宜班机，你会想起什么航线？如果想起国际航班，你又会想起什么航线?这答案顿时点醒了我! AirAsia最新季度扣除了外汇收入大概在每股10-15cent左右。至于它的价值呢，他说这要看看市场到底会给AirAsia什么PE。

谈起债务，冷眼先生也对此有另一番见解。以他过往的经验，债务并不是最重要的一环。就算一个公司债务再高，只要那公司能持续带来positive营运现金流，这代表公司营运没什么问题，也能解决债务的负担。只要那公司业务能持续增长，债务也只是个数字。Cash Flow和Profit才是一门生意的王道。这番答案不得不让我对冷眼先生的生意眼光和见解，感到佩服！

此外，冷眼先生也对NTA有不同的看法。NTA是一间公司的净资产，他是不属于股东的。就算cash和asset再多，只要公司不好好利用来增加收益，也与股东无关。当然，一间又高现金又有好业绩的公司，更是最好不过。所以呢，NTA不是他选支股票的考量。

总结来说，冷眼先生选股精髓就在以下。这已经排除了NTA。
G – Growth 成长
D – Dividend 股息
P – Price (PER) 价值
P – Profit 盈利
R – ROE 股东回酬
C – Cash Flow 营运现金流

最后，冷眼先生说市场有80-90%的人是没能赚钱的，有时不是因为选错股，而是缺少了真确的心态和定力！这点只有靠你自己磨练才能领悟。所以呢，他鼓励投资者不停地看书增加知识。活到老，学到老。

附上冷眼先生的名言！“复杂的事简单做，简单的事正确做，正确的事常常做。”

希望我的分享能帮助更多投资者减少撞板！这次的交流真的获益不浅，也很期待冷眼先生未来将推出的新书。


Note: Sharing from other source

BBO Value investing Training Programme

BBO Value Investing Training Programme***

🌐International Trainer: Mr. Chua I-Min, CFA

What to cover??
1) Financial Statement Analysis – Is The Company Financially Healthy❔
2) Pricing Analysis – Is The Stocks Cheap/Expensive❔
3) How to Use FREE STOCK SCREENERS available to Sift Out Potential Good Stocks❔
4) Economic Analysis – Time to Buy/Sell Now❔
5) Methodology Investment in REITs
6) Build A Dividend Portfolio for Regular Income
7) Skills Set Require to Search for Growth Stocks
8) Involving in Singapore Stock Market

Fees:-
RM500 - 6 classes, telegram support and joining Value Investing Club
RM300 - Self-study route, telegram support and joining Value Investing Club
RM100 - Specially for students

👉 Financial Statement Analysis - Is the Company Financially Healthy❔
Date: 28 May (Saturday)
Time : 9.30 am to 5 pm
Venue: YMCA, Penang
🚗https://waze.to/lr/hw0zqfdy7x

👉🏼 Discounted Cashflow and How to Use it Effectively
Date: 29 May (Sunday)
Time : 9.30 am to 1pm (Sun)
Venue: Kompleks masyarakat penyayang, Penang
🚙https://waze.to/lr/hw0zqfd292

✔Using Stock Screeners to Screen Out Fundamentally Sound Stocks
Date: 30 July (Saturday)
Time: 9.30 am to 5pm
🏢Venue: YMCA Penang
🚗https://waze.to/lr/hw0zqfdy7x

🔑With the various online platforms, comprehensive stock analysis and selection can now be done efficiently and effectively! In this Training, you will learn how to navigate through a few stock screeners and information online platform to perform stock analysis. After the session, you will be able to sift out fundamentally sound stocks like a professional without spending long hours!

✔Economic Analysis
Date: 31July (Sunday)
Time: 9.30am to 1pm
🏢Venue: Kompleks masyarakat penyayang, Penang
🚙https://waze.to/lr/hw0zqfd292

🔑Will the market go up or down? The million dollar question that all investors want to know! There isn’t a crystal ball that can help us see the future, but we could make educated prediction through understanding the global economic conditions.

In this Training, you will understand key economic concepts and learn the main indicators to look at to assess the health of an economy. With this knowledge, you will have a good sense of the likely market directions!

📲Contact Person: Ms. Bong 0126690620

🏦RHB BANK: 21231200062634
MIVCO CONSULTANCY SERVICES

Additional Notes :
🔹Participants are required to PAY additional RM 30 for venue cost.
🔸Training venue will require participants to SPEND ON FOOD at OWN EXPENSE.
🔹Training materials will be GIVEN FOR FREE.
🔸Participants are allowed to attend all courses offered.
🔹Time and Date of courses are subject to Trainer's availabillity (Details will be informed around 1 month earlier)
🔸If the participant is not able to attend the course, there is no repeat class after that but participant will be given Training Materials.

Hurry Up‼ SEATS are LIMITED, Prior payment and reservation required. First come first serve. No walk ins.

***Note: For Sharing Purpose ONLY***

Disclaimer:

All posts and documents submitted in this blog are solely for open discussion and education purposes only. All recommendations and opinion provided are solely for your consideration only and you should exercise your own judgment in forming your own investment decision(s). Please also be informed that equity investment is risky and we recommend you to conduct sufficient searches for information in addition to referring our recommendations and/or opinion herein, prior to making an investment decision.

You should take full responsibility of your investment decision(s) and we accept no liability whatsoever for any direct or consequential loss arising from any use of our recommendations and/or opinion provided herein or any solicitations of an offer to buy or sell any securities. Comments and opinions forwarded/provided by members/followers of this blog do not belong to the Admin and we take no responsibility of such.  

Stock market winner - Just for Sharing

股市大赢家
=========
在这股市里，其实遍地黄金。这些黄金在等着我们去拿。那就要看谁做的功课比较多，谁的功夫比较深厚，那肯定做功课比较多和功夫深厚的那个人的机会比较高。

我买卖股票当然会有输有赢，要成为大赢家，你一定要比人坚强，要做到赢多多输少少。股市如虎口，功夫不到家，又想赚快钱，那你肯定会被它吃掉。输多赢少，又不肯用功学习，肯定是永远的输家。

虽然我算是一位股票高手，但是我还在学习。所谓学无止境，天天在学，活到老学到老。我还是感觉到比不上别人。

所以各位股友，要成功，做股票最重要的是要做好功课。不要去听什么tips了，Tips会害死人的。我希望在新的一年里，我们大家一起做好功课，一起研究成长股。成为永远的大赢家。

Stock market winner
=========
In the stock market, in fact, gold everywhere. These gold waiting for us collect. It depends on who is doing more homework, who's "kung fu" is better, it is certainly more to do homework and that person's who better "Kung Fu" the chance is relatively high.

Of course, we need to take higher probability to win and you can become the winner in stock market,  you must be stronger mindset than other people. Stock is one of the high risk investment tools. Your experience not enough and you want to make quick money, then you will definitely be lose it. Want to Win more, and refused to study hard, and you are loser forever.

Although I would be a stock expert, but I'm still learning. The so-called long life learning. I still feel inferior to others.

So my friends, to be successful in stock market, the most important thing is do your own homework hardworking. Do not listen to what tips given, The Tips will kill people. I hope in this new year, we do more homework together, study and explore more good stocks and become a big winner in stock market.

Disclaimer:

All posts and documents submitted in this blog are solely for open discussion and education purposes only. All recommendations and opinion provided are solely for your consideration only and you should exercise your own judgment in forming your own investment decision(s). Please also be informed that equity investment is risky and we recommend you to conduct sufficient searches for information in addition to referring our recommendations and/or opinion herein, prior to making an investment decision.

You should take full responsibility of your investment decision(s) and we accept no liability whatsoever for any direct or consequential loss arising from any use of our recommendations and/or opinion provided herein or any solicitations of an offer to buy or sell any securities. Comments and opinions forwarded/provided by members/followers of this blog do not belong to the Admin and we take no responsibility of such. 

FAtTA Investment Philosophy

To be successful investing in your life, we do not need top-IQ, extraordinary business acumen or insider news or tips. But it requires a sound knowledge as a basis for investment decision-making  and the ability to control your emotions.

A lot of people treat their life as a journey, but we prefer to liken it to an investment. We spend in this investment with our money and time, then we will eventually to win it? Set your Goals and timeline to achieve whatever you want and you wish by your investment. We DARE to DREAM. Just do it. Nothing is impossible and Think positive.

Investment attaches risk, we have to do and we can do only how to minimize the risk, how to increase the probability and the value we win. To achieve our goals, we should also consider the national policies and the current social situation, forecast the development trend of the society, and there are plans to adjust your goals and chips to become a smart investor.

Whether speculators or investors, are inevitable to do its stock market value has shrunk dramatically, and preparing to lock your capital a long period, because it is really inevitable. So that, Minimize your risks is important and diversify your portfolio.

The secret to investment success lies in our hearts, think like a judge, not by the market behavior and the insider news or tips. When you confidence to invest, then you will get a stable income, even a bear market can do. Only develop your own strong mindset and courage, your investment objectives will not influenced by the other sentiments. Control your emotional is the most important part in investment. Have fun to grow your money, think about money just a number game which how to roll it become bigger and bigger number. Relax during your investment life and enjoy it, you will get more better.



Table below is one of FAtTA stock transaction record as your REFERENCE ONLY:-

Just for motivation purpose, we are using Share margin Financing Account to grow the fund.
Initial capital RM 100K from Aug 2015 and total realized gain  more than RM42K in 4 months, annualized return more than 120% p.a.
Green : Gain
Red: Lose
Yellow: Interest charged
White: Shares Holding

We only lose one time which "red color" in this margin account. Besides, we are not using online trading platform which mean broker is charging us 0.6%, the higher brokerage charges or costs not an issue for us, as long as your portfolio can make money.

If you are not a novice, you can consider to use margin finance to leverage your profit. As long as you are confident to make more than 4.8% p.a interest rate, you can make more money with margin financing account and do a better portfolio management. But bear in mind, Margin is risky if you dont know how to manage or abuse it. So please set your trading plan or buy only good fundamental stocks for margin financing. Let us grow and success together. We are ready to assist you to achieve your dreams.

Telegram: https://telegram.me/joinchat/BK7rtDurGd2Y9iBJiOqYtQ

Disclaimer:

All posts and documents submitted in this blog are solely for open discussion and education purposes only. All recommendations and opinion provided are solely for your consideration only and you should exercise your own judgment in forming your own investment decision(s). Please also be informed that equity investment is risky and we recommend you to conduct sufficient searches for information in addition to referring our recommendations and/or opinion herein, prior to making an investment decision.

You should take full responsibility of your investment decision(s) and we accept no liability whatsoever for any direct or consequential loss arising from any use of our recommendations and/or opinion provided herein or any solicitations of an offer to buy or sell any securities. Comments and opinions forwarded/provided by members/followers of this blog do not belong to the Admin and we take no responsibility of such.