Tag Archives: Financial Education

Isn’t this similar to the 90s?

The spate of events that happened in the last six months reminded me of what we had experienced in the 90s. More than 20 years have zoomed passed us and how many of us remember those events that had taken … Continue reading

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Final post for the year 2017

Yesterday marked the end of the last trading day for the year. On the whole, it has been a great year even though the advancement of STI could not match that of the other markets like Dow Jones, Nikkei 225 … Continue reading

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Share lending programme

While we leave our digital share scripts with the Central Depository (CDP), we can make our stocks work harder for us through the shares lending programme. However, if there is a lot of borrowing, perhaps it may indicate that the … Continue reading

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Cash is not always the king

It is quite common to hear people mentioning that “Cash is king” especially during bad times such during a recession or a market crash. This is only half truth. Yes, during times of uncertainties, cash is king, but it is … Continue reading

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It’s time to take stock of how our stocks performed this year

At the close of calendar year 2015, the STI ended at 2882.73. And today, the last day of trading for year 2016, the STI ended at 2880.76. In effect, the STI lost less than 2 points or less than 0.07% … Continue reading

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Not all stock portfolios can be turned into cash easily

It was already quite some time back when a friend of mine showed me his Central Depository Statement (CDP) statement of his stock holdings. He hoped that I was able to provide some ideas how he could revamp his stock … Continue reading

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I was there 6 years ago

Today marks a little more than six years since this article was featured on The Sunday Times on 21 November 2010. The STI was 3197.3 then, and by today, it ended at 2859.33, about 10.6% down. It is time to … Continue reading

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现金不是净利,净利也不是现金

说到盈利,许多人总是会把公司现金流动及净利扯在一起,以为在账目上的净利就是相等于公司那年所取得的现金。不仅是刚出道的投资者,甚至一些已经在股市混了一阵子的股友也有这错误概念。其实净利及现金流动是两回事。当然在定义上它们具有一定的关系,但在操作或分析时,我们必须把它们扯开。在一些行业,现金及净利数据可能非常接近,但另一些企业这两个数据却是天差地远。就用我们对面的煮炒摊位打个比方:除非摊主必须付出一些特异开支,我有十全的把握奠定其企业每天所收取的现金总是会高于其营业净利。 于同样说法,一家公司可能每年都取得正数净利,但是现金一直没有流入,那家公司如果还没倒闭就可能已经摔入一段非常艰难的日子。 以下是我教育中心给一家在新加坡交易所上市公司所整合的数字。通常我们在年度报表只能取得两年贯的数据,所能看到的信息非常浅薄,所以本中心特意为上课的学生设置合计版才能够更深厚了解公司的动向。图案的一览表数据正是我从合计版所取出的讯息。 为了避免读者能够寻出讯息背后的公司,本人特地把真实的股价乘上了一个定数。这样,读者才能够于非常中立的目光探讨所呈上的讯息。如果我们只是单靠每年所发出的两年贯报表买入股票,我们所采取的买卖策略有大可能非常不理想: 一卖就跌,再买又跌,逢买逢跌。因为近几年来公司股价一落千丈,从2011 年每股$3.00 的高峰掉到2014年的$0.60,跌幅百分之八十。公司最近的股价更显著低迷,已经跌破了每股 $0.35 的大关。   所以说,如果我们一直把重点集中在许多媒体所重视的净利数据上,那我们就疏忽了一些其他同等重要讯息而买进了已经正在腐烂的股票。 但我也必须预先警告:现金流入也并非是好事。在一些特殊情况下,公司钱库增加可能意味公司的领导人没办法有效的把现金流动发挥效应。更糟糕的情况,可能导致公司以后营业状况显著疲弱,甚至翻不起身。 祝大家股市行好运! Brennen has been investing in the stock market for 26 years. He trains occasionally and is a managing partner for BP Wealth Learning Centre. He is also … Continue reading

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An essential product does not mean its company share price will continue grow

I met two persons, who told me that they had Hyflux shares. I met one of them some 4-5 years ago and the other 2-3 years ago. Both of them have held the stocks for some time. So I presume … Continue reading

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Business model

When I first read about a business model to better understand why it was entangled in the bond feud with the note-holders, I felt quite loss. I read it again, but still I did not get a good picture of … Continue reading

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