I’ve done up a free video case study under our Investment Case Studies Series for the Astrea bond series now that Astrea V is on its way. Q1 hedge fund letters, conference, scoops etc You can watch it here: Astrea Bonds Investment Case Study The essential structure and safeguards are similar to that [...]
Many people are familiar with John Maynard Keynes – the famous economist for his contributions to economics. Q1 hedge fund letters, conference, scoops etc What is little known is that Keynes had plenty of ups and downs as an investor. Early on in his career, he was an active global trader [...]
There’s been a slew of news and updates regarding the Astrea bonds in the last week. Q1 hedge fund letters, conference, scoops etc Temasek-linked PE vehicle Astrea V to issue US$600m bonds Class A-1 tranche is expected to be rated Asf and A+ (sf) by Fitch and S&P respectively, with the “sf” [...]
I finished the first workshop on financial analysis last week and it was great fun to teach. Q1 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay I’ve gotten some feedback and will be updating the online course extensively in the coming weeks before releasing the updated version. Now that that is out [...]
I writing a topical email every week to my mailing list. Here’s our last email to subscribers which I thought I share. Q1 hedge fund letters, conference, scoops etc Pexels / Pixabay You can sign up on our mailing list to get the latest updates when it goes out every week. I’ve just [...]
Singapore Airlines is proposing to offer S$500 million of five-year fixed-rate bonds to both institutional and retail investors with a chance of it being upsized to $750 million if the response is overwhelming. Q4 hedge fund letters, conference, scoops etc b1-foto / Pixabay SIA’s S$500m 5-year bonds will pay 3.03% interest and [...]
I writing a topical email every week to my mailing list. Here’s our last email to subscribers which I thought I share. Q4 hedge fund letters, conference, scoops etc fill / Pixabay You can sign up on our mailing list to get the latest updates when it goes out every week. I’ve written [...]
I writing a topical email every week to my mailing list. Here’s our last email to subscribers which I thought I share. sallyjermain / Pixabay You can sign up on our mailing list to get the latest updates when it goes out every week. Investors often focus on investing returns which is [...]
I writing a topical email every week to my mailing list. Here’s our last email to subscribers which I thought I share. Q4 hedge fund letters, conference, scoops etc mpewny / Pixabay You can sign up on our mailing list to get the latest updates when it goes out every week. Investing for [...]
I have been following the Hyflux implosion and restructuring (which is still ongoing). It is one of the most painful experiences for Singaporean investors in recent memory given its widespread uptake by retail investors. For the record, I have no position in any of Hyflux stock or its related [...]
I read recently that MAS was launching a $75m grant for the equity market. The aim is to encourage listing and to also boost equity research coverage. Q4 hedge fund letters, conference, scoops etc cegoh / Pixabay I must admit I am pretty pessimistic about its future success. The woes of the Singapore [...]
I attended the Astrea Investor Day 2019 held at the DBS Asia Central Auditorium on Saturday morning. Q4 hedge fund letters, conference, scoops etc Earlier this year, I wrote two articles on Astrea IV: Astrea IV PE-backed bonds – 3 things you need to know before you invest 5 structural safeguards in the [...]
I understand the appeal of using approaches that rely on buying “cheap stocks” as someone who likes a more quantitative approach to investing. Q4 hedge fund letters, conference, scoops etc Pexels / Pixabay At the same time, I have always felt that many people have the misconception that value investing is about [...]
I writing a topical email every week to my mailing list. Here’s our last email to subscribers which I thought I share. You can sign up on our mailing list to get the latest updates when it goes out every week. Q3 hedge fund letters, conference, scoops etc Pexels / Pixabay Every market [...]
This is a slightly technical post but highly relevant if you for certain types of businesses where leasing is prevalent. Q3 hedge fund letters, conference, scoops etc Come 2019, new accounting standards (specifically IFRS 16) will come into effect which will drive up the leverage ratios of businesses which have significant [...]
I thought about doing up all three Singapore bank valuations in a single article but changed my mind. Q3 hedge fund letters, conference, scoops etc Although each bank is headquartered in Singapore, they have differing exposures in the region so I am going to run through each one separately and try [...]
I writing a topical email every week to my mailing list but I thought I share the last email with everyone as it really resonated with me. Q3 hedge fund letters, conference, scoops etc mohamed_hassan / Pixabay Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1. – Warren Buffett 2019 [...]
With the rise of robo-advisors in Singapore, there’s been an increased allocation into US listed bond ETFs that most investors would probably not have known about or invested in otherwise. Q3 hedge fund letters, conference, scoops etc This article, I cover the key difference between bonds and bond ETFS and explain [...]
The last post on Singtel generated quite a lot of responses on Facebook which I didn’t find surprising given the widespread ownership of the stock. Q3 hedge fund letters, conference, scoops etc One of the interesting comments which I thought I re-share here along with my thoughts for the benefit of [...]
I wrote this back in 2015.. but its still relevant so I thought I share it: Q3 hedge fund letters, conference, scoops etc The underlying assumption behind ALL fundamental analysis is that the markets will eventually recognize the underlying value of the security. If you are long a stock, you believe [...]
Financial Horse had an interesting post on Singtel entitled SingTel at S$2.96 – 3 quick thoughts on why I’m still not a buyer. Q3 hedge fund letters, conference, scoops etc Here are my own initial thoughts looking at it. Why buy telcos - dividends of course! Most people who buy telcos normally [...]
Dividend yield is at the heart of many bad decisions Many poor investment decisions are based off this one metric. After all, everyone loves dividends. Passive income. Financial freedom. That’s perfectly understandable. The only issue is that dividend yield is one of the worst possible valuation metrics you can use. Is the dividend payment [...]
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