MW,
Just a quick check to your blog.
Only FY 2008 was +ve FCF.
or i got it wrongly?
(13-12-2010, 08:49 PM)valuestalker Wrote: [ -> ]MW,
Just a quick check to your blog.
Only FY 2008 was +ve FCF.
or i got it wrongly?
Sorry, my bad. I think I was looking at another company of mine instead!
Yes, only FY 2008 has FCF, you are right.
Moving forward I suspect FCF should be -ve for at least 2 more financial years (FY 2011 and FY 2012).
ehm, if that is the case, do you mind to share how did you value the company?
(14-12-2010, 09:28 AM)valuestalker Wrote: [ -> ]ehm, if that is the case, do you mind to share how did you value the company?
What do you mean by "how I value the company"? I usually will not put a $ value on the company as the intrinsic value changes all the time. As long as the factors look reasonably +ve, including the qualitative ones, that would justify an investment.
Hope this explains!
Quote:What do you mean by "how I value the company"? I usually will not put a $ value on the company as the intrinsic value changes all the time. As long as the factors look reasonably +ve, including the qualitative ones, that would justify an investment.
Hope this explains!
MW, after looking at the company and everything is perfect for you to invest, how do you determine what price to buy at from the market?
(14-12-2010, 10:09 AM)taka666 Wrote: [ -> ]MW, after looking at the company and everything is perfect for you to invest, how do you determine what price to buy at from the market?
I will usually use simple metrics like PER (not more than 10 unless blue chips), and dividend yield. But other factors come into play to determine what is an acceptable PER or P/B ratio.
Thanks Taka, i was trying to ask that as well.
Thanks MW for sharing your investment philosophy.
By saying Value i was referring to company intrinsic value and agree with you that intrinsic value changes along the time.
But at a point of time, we may estimate the value of the company (DCF or NAV).
which is for me, more accurate to determine margin of safety rather than base on PE or dividend yield?
just my 2cent
(14-12-2010, 10:57 AM)valuestalker Wrote: [ -> ]Thanks Taka, i was trying to ask that as well.
Thanks MW for sharing your investment philosophy.
By saying Value i was referring to company intrinsic value and agree with you that intrinsic value changes along the time.
But at a point of time, we may estimate the value of the company (DCF or NAV).
which is for me, more accurate to determine margin of safety rather than base on PE or dividend yield?
just my 2cent
True. true. Point taken! I admit I have to beef up my criteria and the way I review potential investments. It's learning in progress....
Thanks!
Hi MW,
Sorry, didn't mean to be rude. Just trying to open up for discussion.
I am still learning along the way from all those mistakes that i have committed.
Let's learn together and be a wiser value investor.
(14-12-2010, 12:10 PM)valuestalker Wrote: [ -> ]Hi MW,
Sorry, didn't mean to be rude. Just trying to open up for discussion.
I am still learning along the way from all those mistakes that i have committed.
Let's learn together and be a wiser value investor.
No lah, you are not being rude and no offense was taken. I think as investors, we can all learn something new everyday and I don't presume to know everything too. It's important to me that I learn to be humble and accept different views and constructive criticism, in order to make myself a better investor.
Regards.