GiraffeValue.com

[GiraffeValue]

Hey CY09. Thanks for asking! I'm still at the mid stage of my portfolio building, currently 11 stocks. Hence at this stage it's still pretty vulnerable. My only concern on Kingboard copper is the authenticity of its cash. So I tried to avoid that kind of risk at the moment, as should it turns out to be a fraud I wouldn't want roughly 10% of my portfolio value to disappear.

If I'm holding a 20 or 30 stocks portfolio, or as the number of stocks increases. I wouldn't bother much of the biz risk/fraud risk, since I invest in a group of mispriced stocks. Individual stock performance doesn't bother me much.

As of now yes, I am more careful.

[GiraffeValue]

Thanks GiraffeValue for you reply.

Just sharing my thoughts:

When I bought shares I do not intend to let go even if MOS becomes zero - recognized business will command a premium - higher PE or PB. I like to think that I own a share of a good business. I buy business - a mentality that is usually ridiculed by friends . Hence dividend is important to me.

About rights issues and warrants, they actually gave an investor a chance to make a bumper harvest if the investor knows the company well enough. Private placements could let a company gets money faster and at a lower cost - but yeah I hate them usually. In a start up, there would be rounds of funding and early investors usually get their shares/senior issues at much lower price (cos higher risk at that time) and would make high return when company go IPO - sometimes "new investor pay old investor" like. I think rights issues and warrants is similar to that if the company intends to raise fund for expansion.

Raks, your views are right. As the biz grow, the stock price will follow and rights issue, warrants and private placement give the company a chance to grow even more(assumed they do it correctly).

I'm just in a different school of thought in the camp of value investing. I own a stock because of its assets rather than its business. When the price revert to its asset value, I'm good to sell. And find another one, so it is the call cigar butt approach.

So the big picture is to pick stocks that are mispriced, rather than to find winners.

[chialc88]

Thank you GiraffeValue.com

I read your blog keenly.

I could sense your thought and found it resonance with mine too.

Keep it up!

++++++++++++++++++++++++++

Since, officially we are in bear territory, is there something that we need to fine-tune?
especially in stock selections.

Thanks.

Love Compassion

[GiraffeValue]

Thank you GiraffeValue.com

I read your blog keenly.

I could sense your thought and found it resonance with mine too.

Keep it up!

++++++++++++++++++++++++++

Since, officially we are in bear territory, is there something that we need to fine-tune?
especially in stock selections.

Thanks.

Love Compassion

Wah... another comment that gives me tears.

[chialc88]

谦逊 is a virtue.

You have a most modern and fashionable websites that beats all blogger hands-down.

Keep up the good work and do share with me some of your thought on fine-tuning stock selection when the bear bear is out.

Thank you very much.

Love Compassion

[GiraffeValue]

so happy to hear that.

Oh sorry I thought that line "Since, officially we are in bear territory, is there something that we need to fine-tune?
especially in stock selections." is a signature so I didn't response.

Something that I quite proud of, I designed that myself(first time). 60% of it is by the "skin" which you can drag and drop, the remaining required CSS coding which I googled my way through. Spent 40 hours and 8 over coffees.

Actually, if you have noticed. I'm maybe the only one who didn't blog anything about the market and/or political news. I'm die hard bottom up guy.

My investing conviction is built upon papers and backtests.

I think tml(hope so) I can complete my blog post on step-by-step guide to screen value stocks in SGX. I will also release the stocks result.