machine learning
Date: 7 July 2020 Housing is still one of the greatest concerns of Hong Kong people. I think it will be fun to build a model to predict the house price in Hong Kong. Unlike, Kaggle competition, data is not readily available. So, the first step, which I am going
stocks
Date written: 21 May 2020 I have sold all my holdings on CCL and RCL. The primary reason for selling is that I cannot see how the future of cruise ships will look like. And, what’s ironic is that I thought I can see the future of cruise ships
credit scorecard
…too many financial institutions and investors simply outsourced their risk management. Rather than undertake their own analysis, they relied on the rating agencies to do the essential work of risk analysis for them. Lloyd Blankfein, CEO Goldman Sachs Credit risk scoring is simply a statistical tool for evaluating the level
financial analysis
營收成長性及穩定性顯示企業競爭力 這裏很好理解，就是從３，５年來看，營收基本每年都有增長。 毛利率穩定性反映企業對價格或生產效能的掌控力 毛利率計算公式＝（銷售收入－銷售成本）／銷售收入x 100% 毛利率穩定有兩種情況，一是公司可以掌握價格，二是公司只承接一定毛利的單。爲什麼能掌握價格，有利可圖自然有競爭，毛利會變低？原因可以是：具有產量、通路或專利優勢；具有品牌優勢；具有技術優勢；行業間協調定價；生產效能高，等等。 推銷費用的合理性反映產品市場力 推銷費用的都少要與同業比較，如果推銷費用佔營收比較低，通常暗示產品較好，銷售不費力。 尤其如果「推銷費用的增長率」高於「營業收入的增長率」時就暗示產品賣不動了。 管理費用的合理性反映管理力 跟同業比較就可以知道管理費用是否合理。還有就是和前幾年比較一下。 研究費用金額反映投資未來力度 長期性來講，研發費用與營收要有適當的配比，並且穩定按照這個比例行事，才是好的方式。當然，研發金額應不低於規模相當之同業，也要留意研發
financial analysis
最近我在看一本書叫「大會記師教你從財報數字看懂經營本質」，覺得內容不錯，就和大家分享一下。我想我會分幾部份寫，第一部分是評估企業真實價值 －從宏觀角度看懂「資產負債表」。第二部分是從微觀角度出發。 從「現金及約當現金」看穩健性 現金的安全水位宜保持兩個月用量。 從「應收票據」、「賬款」及「存貨」看管理能力 評估應收票據及賬款的目的，在於瞭解貨款是否積壓太多，有沒有呆帳的風險。計算公式很簡單：應收賬款及票據週轉天數＝期末應收賬款及票據／全年銷售金額 × (356/90/180)。天數是否正常可以比較同業，但多於三個月就很大機會不正常。 還有一個叫存貨週轉天數，期末存貨金額／全年銷售成本 × (356/90/180)。這個數太多不好，太少也不好，正常來說１至２個月是合理，高於２個月顯示經營力度有問題；低於一個月除非是特殊行業，否則有做假交易的嫌疑。 從「投資」看聚焦力 這個就不能單單看報表了，
financial analysis
最近我在看一本書叫「大會記師教你從財報數字看懂經營本質」，覺得內容不錯，就和大家分享一下。我想我會分幾部份寫，首先從資產負債表開始吧。 從「資產總額」看出企業影響力 基本上就是說，資產越多，企業越有影響力。但要注意的是，公司有否跨足太多產業，導致核心競爭力失焦。 從「資產比重高」的項目看出資產特性與競爭力 資產特性指的就是我們可以從資產的分配看出行業特性，半導體行業主要以不動產，廠房及設備爲主；競爭力主要是對自身一些比重高的資產項目和同業情況的比較。 從「資產配置」看公司經營理念 這裏主要看的是公司的資產是不是大部分都是營運所需，還是以一些比較虛的資產爲主。 從「資產運用效能」觀察企業賺錢能力 這就是ROA，沒有特別。ROA要與同業比較。 從「流動比率」衡量企業短期風險 這是currrent ratio吧。作者說150％較好，120％尚可，低於110％就啦警報了。可是一些行業有例外的，比如航空業。關鍵也是看同業吧。 從「負債比率」觀察風險偏好與財務強度
efficiency
Do you want more customisation on Email filter? For example, search for Company Registry number in the email and forward to the responsible person based on your database. There is no way to complete the task in standard Gmail filter since Gmail filter does not offer search based on pattern
property deal
Date: 15 April 2020 Recently, I received this property deal from an agent selling Vietnam property. Having experience with exaggerating and over-optimistic agents, I will not listen to anything they said except the name of the project and the price. I like filters because it is very efficient in narrowing
accounting shenaigan
After climbing $11 on its first day of IPO to $31, public shareholders have lost over $9 billion on Groupon stock when former CEO Andrew Mason declared that he had discovered a “material weakness” in the company’s internal controls. Whether he knew this “material weakness” before the IPO is
stocks
Recently I have read a book called University of Berkshire Hathaway, here is the summary on what I have learned from two world-class investors, Warren Buffett and Charleie Munger. Buffett’s Framework * The difference of price and value * Price is what you pay and value is what it is worth.
intermediate level
A few weeks ago) (In this post), I have shared with you where to find 10 years of financial statement data and how to use AWS Athena to query the files stored in AWS S3. In this post, I am going to show you how to write a program to
brainteaser
A small boat is floating in a swimming pool. The boat contains a very small (very very very small) but very heavy rock. If the rock is tossed out of the boat into the pool, what happens to the water level in the pool? It is related to Physics, but