The Profits that Does Not Belong to You

My blog has shifted to Kelvestor.com, please visit the new URL and subscribe to the mailing list. A lot of investors often get the wrong profit figures from a company’s income statement. This may result in a wrong valuation for the company. In this article, I hope to achieve the objective of guiding you through …

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Is Starbucks Your Cup of Money?

(source: Sheila Hawkins and Starbucks) All of us know Starbucks. It is the brand that defines coolness and social status. It aims to be your third home, away from your home and office. A place where you socialise with your friends. Did you know there are more Starbucks than McDonald’s in USA? They have over 28k stores …

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Dickson Concepts (International) / 迪生創建(國際)有限公司 (SEHK:113)

Dickson Concepts is a profitable, dividend-paying business that generates free cash flow. It does not have the issue of collecting trade receivables as well. It reminds me of Singapore's FJ Benjamin. Founded by Dickson Poon (53% share ownership), Dickson Concepts is a distributor for many luxury items such as watches, leather goods, fashion products, fragrances …

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How Increasing Trade Receivables Days Is an [Potential] Early Warning Sign

What are trade receivables and trade receivable days? Trade receivables is nothing more than sales that were done in credit. Depending on industries, trade receivable credit terms could be 30 days to 90 days. As a business, you would like to have very low trade receivables or none. Trade Receivable Days is simply nothing more …

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Implications of Share Buy-Back: The Smart and Not-so-Wise

As investors, we often see two types of share purchases. One of them involves a director utilising his or her personal money to purchase the shares, which may indicate the company is undervalued or seen as supporting the share price. The shares are kept under the director’s personal account. The another involves a company utilising …

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[BloombergQuint] Alpha Moguls With Mohnish Pabrai & Google Talks

The liberty of being a full-time investor allows me to control my learning objectives and continue to compound my own knowledge. I did that by planning my schedules around learning, doing and growing. Monish Pabrai is an enormous giant in the world of value investing, someone I've drawn constant inspiration. A friend of mine shared …

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