stocks
Date: 20 December 2020 Short answer: No, but better. To answer a question, we always start by making some assumptions, including Starting Salary, Inflation Rate, Salary Growth Rate, Salary Growth Rate, Expense Ratio, and Return on Investment. I am putting this calculation in the Hong Kong context and a typical
investing
The conventional opinion said margin buying is dangerous. You may get a margin call or be forced to liquidate your stocks. It might be true or false. But to analyze the risk involved, we need to first understand what is margin buying. What is margin buying? Margin buying is to
stocks
Date: 10/08/2020 How Intel Comes to My Radar? Following the news of TSM, the largest holding in my portfolio, I saw several articles on Intel announces delay in its 7nm CPUs, and AMD CPUs outperform Intel ones benefiting from the use of TSM’s most advance process node
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
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
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.
covid-19
This post is written at 23 March 2020. I think many of you know Berkshire Hathaway, the company managed by Warren Buffet. The company has a lot of subsidiaries, ranging from insurance, freight rail transportation, utility, to real estate brokerage services, and many others. According to the 2019 annual report,
covid-19
When Covid-19 will end is an unknown. Although it is believed that CCL liquidity can sustain the business for half a year or even a year, there is still a possibility of bankruptcy. If the current price of CCL is below it’s liquidating value, buying the stock can be
covid-19
In personal finance, liquidity can mean do you have enough cash to cover a certain amount of spendings, say 6 months. In a company, I think it is similar, does the company have enough liquid assets and short term borrowing power to cover a certain amount of spendings, say 1
beginner level
This post was written on 10 March 2020. When the post is published, it will be interesting. The analysis is separated into two parts. The first part assumes Covid-19 never exists and evaluate whether CCL is a preferred stock to invest. The second part looks at whether CCL is tough
beginner level
This post was written on 10 March 2020. When the post is published, it will be interesting. The analysis is separated into two parts. The first part assumes Covid-19 never exists and evaluate whether RCL is a preferred stock to invest. The second part looks at whether RCL is tough