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No. of Articles : 66
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Have You Looked At The Disclosures?

So tell me, what do you look at immediately when you delve into a company’s financial statement (FS)? Profits? Revenue? Growth? You would have probably said yes to all of them. Was it surprising? Not really. It is very common for people to immediately zoom into said areas as it conveys the well being of the firm, whether or not its revenue has fallen, grown, or is it more profitable now. These figures also then translate into ratios, which would then be used for different valuation purposes.

  • 30 March 2012
  • Education
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    Sg-431-Specs-1

    Perception Vs Reality: Trade What is Real, Not What You Feel (Part 2)

    Once again we will focus on identifying and removing the veil of one of the many illusions from trading and investing. An illusion is an erroneous perception of reality. Illusions lead the average trader and investor to commit two consistent mistakes.

  • 30 March 2012
  • Education
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    thumb-stock-performance

    Stock Market Is 40% Overvalued Based On This Study

    Yale economics professor Robert Shiller — who correctly called both the dot-com and housing bubbles — designed the “cyclically adjusted price-to-earnings ratio,” or CAPE metric.

  • 27 March 2012
  • Education
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    Perception Versus Reality (Trade What Is Real, Not What You Feel)

    Consistent low risk profits from trading and investing is a challenge many millions of people take on, yet only a selected few are ever able to attain.

  • 02 March 2012
  • Education
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    Thumb-Brain

    Recognising The Psychology Behind Your (Irrational) Mind, Part II

    We continue to try to explain and increase understanding of the reasoning patterns of investors, including the emotional and cognitive processes involved and how much these processes affect and influence the decision making process.

  • 17 February 2012
  • Education
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    Romance Between Corporations: Generating Shareholder Value Through M&A?

    In this day and age, corporations have thrown themselves into courtships where flirting takes place in an otherwise deadly game of mergers and acquisitions (M&A).

  • 02 December 2011
  • Education
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    Investment Opportunities in Emerging Economies – BRICs

    The aftermath of the global financial crisis has brought contrasting signals between developed nations and emerging economies. While emerging economies experienced much sharper contractions than the developed countries during the crisis, they also experienced much stronger rebounds.

  • 22 November 2011
  • Education
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    Is It Possible To Trade The News?

    The issue of Europe has completely dominated financial markets and news flow over the last 3 months. No single event, summit or meeting can determine the trend for any length of time.

  • 01 November 2011
  • Education
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    Survival 101: Keeping The Liquidity Tap Flowing

    Three years after the Lehman Brothers bankruptcy, we are back to square one. That is, a face-off with liquidity issues. Only now, in place of bad household debts, sovereign debts in Europe have accumulated to a level that is proving unsustainable.

  • 21 October 2011
  • Education
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    Credit Ratings – What Tidings Does It Bring?

    The ratings downgrade by Standard and Poor’s of US debt, Moody’s Japanese debt downgrade and the negative outlook plastered on Sino government bonds by Fitch. Why the hullaballoo over alphabets which scarcely mean a thing on their own?

  • 16 September 2011
  • Education
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    Stocks Promising Growth At A Reasonable Price

    Investors love companies that are growing, and growing fast. Very often, such companies are very expensive. Take Baidu for example, China’s very own Google; it is currently trading at 64 times earnings.

  • 08 September 2011
  • Education
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    Get Insulated With The Right Asset Allocation Policy

    As Mr Bear is out staging a bear-raid, it may no longer be a good idea to keep all your honey in a jar.

  • 26 August 2011
  • Education
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    Free Cash Flow Valuations: Which Are The Companies With Deep Pockets

    Cash is king! This statement holds true for a business in the availability of good investment opportunities. In an economic downturn where funds are limited in the capital markets, cash offers protection for a company’s working capital needs.

  • 12 August 2011
  • Education
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    Warrants Basics – What Are Warrants?

    A warrant is a powerful investment tool that enables you to gain exposure to a security for a fraction of its price. Warrants can be used to either increase or decrease your level of risk and, unlike ordinary shares, they can be used to profit from both a rise and fall in asset price. Macquarie Warrants are available over individual shares or indices, they are listed on the SGX and can be bought and sold like ordinary shares.

  • 07 June 2011
  • Education
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    Warrants Basics – Why Trade Warrants?

    Warrants cost only a fraction of the price of shares. However, they can provide investors with greater exposure to share price movements as their prices generally rise and fall more steeply than shares in percentage terms. This increased exposure can subsequently offer greater potential profit as a percentage of the capital invested.

  • 07 June 2011
  • Education
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    Warrants Basics – Selecting A Warrant

    To choose a warrant you should first look at the nature and performance of the underlying shares. This will assist in enabling you to make an informed decision about the anticipated movement of the stock. You should also set a target price for the stock, as that will help in your decision of which warrant to choose.

  • 07 June 2011
  • Education
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    Warrants Basics – Pricing Variables

    The underlying share price is the key driver of the warrant price. As the share price increases, the value of a call warrant should increase. Conversely, the value should fall as the share price falls. The opposite occurs for put warrants. Put warrants should increase in value as the share price falls and decrease in value as the share price rises. By successfully predicting the price direction of shares, investors can profit from trading warrants on positive and negative views.

  • 07 June 2011
  • Education
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    Determining A Company’s Price Tag Using Enterprise Value

    Ever since I wrote on the valuation method using price-earnings-growth ratio, I continue to hold the firm belief that value investing is the way of long term investing and it can be easily understood, which brought me to writing this article as I explore deeper.

  • 03 June 2011
  • Education
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    Portfolio Construction – How Does This Impact The Average Investor?

    Why not give a seminar on the next FIVE hot stocks to pick for the year? Or the outlook on the equity market?

  • 09 May 2011
  • Education
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    Uncover A Stock’s Value Using Gordon Growth Model

    No one likes overpaying for anything they can get at a discounted price. In any buying process, it is common practice among consumers to compare prices between similar products in order to get a feel of the current average price being offered in the market.

  • 21 April 2011
  • Education
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    Universal Life: Look Before You Leap

    The High Net Worth Individuals (HNWI) in Singapore used to have to look overseas for estate planning and insurance solutions.

  • 15 April 2011
  • Education
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    Flat But Not Out With Options

    The hope of a share investor, is to buy a share that rises over time (hopefully sooner). As a share investor, we hope the shares we own will rise over a period of time allowing us the opportunity to make a profit from it. Diagram 1 depicts the desires of a shareholder. We purchase a share to have a long exposure to it, and profit (a) as the share price rises (b).

  • 11 March 2011
  • Education
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    The ROE Way To Investing

    Return-on-equity (ROE) is a very useful financial ratio for picking stocks that is often overlooked by new investors. In its simplest form, ROE is a company’s most recent full year earnings divided by the average equity during the four quarters. An ROE of 15 percent tells us that the company’s management generates an after-tax return of 15 cent for every dollar that shareholders have invested so far.

  • 11 March 2011
  • Education
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    Ichimoku Trend Trading With ADX – Confirmation With ADX Indicator

    As you know, Ichimoku Kinko Hyo is predominantly a trend-following indicator, with multiple confirmations in built within the system. We will share with you here how you can further enhance the system by utilising other (Western) indicators to confirm or better time your trades, for trend following in particular. The indicator we are discussing is the Average Directional Index (ADX) Indicator.

  • 28 February 2011
  • Education
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    Trading With Ichimoku Clouds – Fast And Effective (Part 3)

    Now that we have learnt how to calculate the Tenkan Sen and Kijun Sen, we can move on to the cloud mathematics. As mentioned, the Kumo is constructed by the Senkou Span A and Senkou span B

  • 18 February 2011
  • Education
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    Trading With Ichimoku Clouds – Fast And Effective (Part 2)

    Moving Average is arguably the most commonly watched indicator in the stock, currency and commodity markets. Price is expected to go bullish (bearish) when the faster moving average crosses above (below) the slower moving average.

  • 09 February 2011
  • Education
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    Trading With Ichimoku Clouds – Fast And Effective (Part 1)

    This article introduces the Ichimoku Kinko Hyo, an award winning Japanese technical indicator which can be used to trade currencies, commodities, futures, and stocks. The name translates into “one glance equilibrium chart”, describing how traders can very quickly discern price action of an asset, and form trading decisions effectively.

  • 02 February 2011
  • Education
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    CFD: Go Long, Go Short, Still Make Money

    A contract for difference (CFD) is a futures contract where the buyer will pay to the seller the difference between the current value of an asset and its value at contract time or vice versa. It allows investors to speculate on price movements of equities without having to own it.

  • 28 January 2011
  • Education
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    Finding Value With PEG Ratio

    Speaking of stock valuation, many are familiar with the popular P/E ratio. Taking an additional step in dividing P/E ratio by earnings growth rate, we get the price/earnings-to-growth (PEG) ratio, which incorporates the company’s earnings performance.

  • 19 January 2011
  • Education
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    Ready For High Yield Bonds?

    When the stock market drifts sideways, the time is ripe for high yield bonds to be included in an investment portfolio. A high yield bond is a non-investment grade bond (rated BB and below). It is also referred to as a speculative or junk bond. This bond has higher default risk and therefore pays a higher coupon to attract investors.

  • 05 January 2011
  • Education
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    A Portfolio Of ETFs

    According to Barclays Global Investor, the United States is the world leader in Exchange Traded Funds (ETFs) with assets under management of US$640 billion while Europe comes in at a distant second with US$206 billion of assets. Globally, ETFs stand very close to the US$1 trillion mark, with US$942 billion in assets at the end of October 2009. There are 1,859 ETFs listed in 40 exchanges around the world.

  • 03 January 2011
  • Education
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    If I Am Sitting On A Stock With Modest Profit (Only), When Is The Best Time To Sell It?

    If I have a modest profit for a stock, what should I do? Which option should I take to maximise my returns?

  • 02 January 2011
  • Education
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    Unraveling The Unit Trust Mystery

    Although practically an everyday word, unit trusts are a very misunderstood class of asset. Other than it being a diversified investment tool, many – including accredited investors – have no idea what it really is, how it is priced, or what to do with it.

  • 22 December 2010
  • Education
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    Detecting Red Flags Of Financial Statement Manipulation

    Over the years of bulls and bears, regulators of the financial market constantly sharpen their standards to maintain transparency and protect investors. While new regulations are enacted in this ever-changing market, one problem continues to exist: financial statement manipulation or financial shenanigans. Companies, for many reasons, may be tempted to manipulate or exaggerate their financial figures at any time, regardless of a good or bad economy. No matter how much the governing bodies do to prevent, we see scams and scandals emerging to haunt investors.

  • 17 December 2010
  • Education
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    What Is Price-to-Book (PB) Value? Are Companies Trading At PB < 1 Value Plays?

    Price-to-Book value (“PB”) has a couple of definitions. From an investment and “layman” perspective, it refers to the balance left for the investors when a business is liquidated and the debts are paid.

  • 06 December 2010
  • Education
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    Revisiting American Depositary Receipts

    In issue 394, Shares Investment (Singapore) has introduced American Depository Receipts (ADRs) in an article to readers and investors. Since then, the 19 ADRs added to the SGX have been traded with much volatility.

  • 19 November 2010
  • Education
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    SGX Rolls Out Enhanced Securities Borrowing & Lending Programme

    The concept of Securities Borrowing and Lending (SBL) is definitely not something new in the local equity market. Although Singapore Exchange (SGX) introduced this service in early 2002

  • 22 October 2010
  • Education
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    Introducing American Depositary Receipts

    The hype is official. On 22 October, American Depositary Receipts (ADRs) have finally made their way onto Singapore Exchange’s (SGX) GlobalQuote platform.

  • 22 October 2010
  • Education
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    Avoid Regret With Options

    Two years on since the global financial crisis which brought even the biggest names in the financial world to their knees; its adverse rippling effects is still being felt not just by investors but their families and those normally oblivious to the happenings of the financial world.

  • 08 October 2010
  • Education
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    Invest In Businesses Who Are Leaders In Their Industries

    When picking stocks to buy, one should always consider buying stocks of companies that are leaders in their respective industries or business sectors.

  • 24 September 2010
  • Education
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    Invest In Businesses You Understand

    Where is our stock market heading? Can the market go any higher? Are stocks now overvalued? Will there be a double-dip? What stocks can I buy now? These are but some of the more frequently heard questions that are buzzing around our stock investing community recently.

  • 27 August 2010
  • Education
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    Traffic Light Trading System

    As charts are highly useful in the stock market, I’d like to share a basic chart reading system I use which has aided me. This is called a traffic light trading system

  • 27 August 2010
  • Education
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    Have You Checked Your Trading Blind Spot?

    Just like music and books have their different genres, trading has its distinctive flavours too. Day trading, swing trading and position trading are the three flavours that characterize the commonly used trading styles.

  • 16 July 2010
  • Education
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    When Should You Sell Your Funds

    In the previous two articles on << Unit Trusts – Pertinent Points To Look Out For >>, I have elaborated on the points which investors have to look into before they purchase the fund. After having purchased the fund, it is good to conduct a periodic review on your funds, even though they are managed by professional fund managers.

  • 01 June 2010
  • Education
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    Extended Settlement Contracts – What Are They?

    Oftentimes, readers may see DBS shares under the “Top 15 gainers” in Channel NewsAsia. However, sometimes, the symbol may look different with a suffix of “.ES”. Other shares such as OCBC, UOB, Olam etc. also have these suffix. Have you ever wondered what does this suffix “.ES” mean?

  • 01 June 2010
  • Education
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    Unit Trusts – Pertinent Points To Consider When Investing In Funds (Part 2)

    After understanding your risk profile, the costs incurred in investing in the funds, as well as, how the fund managers manage the funds, the next important point to consider is the risk – reward profile of the funds.

  • 31 May 2010
  • Education
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    Unit Trusts – Pertinent Points To Consider When Investing In Funds (Part 1)

    Most readers would have seen advertisements or articles on funds with multiple “stars” attached to them. They are typically accompanied with excellent reviews from those mutual fund rating agencies.

  • 31 May 2010
  • Education
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    Thinking Of Shorting The Market? Consider CFD

    As of 20 May 10, S&P 500 has dropped 12.2% and 12.0% from its 52 week intraday high and 52 week closing high of 1,219.80 and 1,217.28 respectively.

  • 26 May 2010
  • Education
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    Trading Is Easy, Isn’t It? (Part 3)

    Having discussed the trading plan and risk management strategies, I am going to focus on the trading system which is an integral part of trading.

  • 12 May 2010
  • Education
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    Trading Is Easy, Isn’t It? (Part 2)

    In my previous article , I have discussed the trading plan that traders should have.

  • 11 May 2010
  • Education
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    Trading Is Easy, Isn’t It? (Part 1)

    If somebody says his profession is a trader, what will you immediately think of?

  • 30 April 2010
  • Education
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    Funds – Something You May Not Know Of

    Sometimes, I will hear my friends say that the unit trust looks cheap. Other times, they will say that the unit trust is on an uptrend based on the price. I would curiously turn around to ask them how they determine the value or the trend of the unit trust based on price.

  • 26 April 2010
  • Education
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    What Makes A Millionaire?

    Singapore, with a population of about 5 million, has about 61,000 millionaires according to the 13th annual World Wealth Report released last year.

  • 16 April 2010
  • Education
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    Understanding The Intricacies Of Price–Earnings Ratio

    Readers may be surprised why I am writing an article on price-earnings (PE) ratio, as it is one of the oldest and widely known ratios around. They are often quoted by analysts, stock brokers and readers.

  • 16 April 2010
  • Education
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    Want To Be Good In Investing? Try Bridge

    “You know, if I’m playing bridge and a naked woman walks by, I don’t ever see her,” These words are not spoken by me.

  • 13 April 2010
  • Education
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    Stock Investing vs. Unit Trust Investing

    Investing in stocks vs. investing in unit trusts has always been a much debated topic. Proponents for unit trust investing would point to the fact

  • 23 February 2010
  • Education
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    The Cautious Stock Market of 2010 – Hedge it with Forex Trading

    Forex trading can give you a profit edge, while the markets are consolidating their direction.

  • 05 February 2010
  • Education
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    Shedding Light On Warrants, Structured Warrants, Options And CFDs

    Structured warrants were first introduced in Singapore in 1989 and re-introduced in 2004. However, till now, some of the investors still have a hazy idea over what are warrants.

  • 27 January 2010
  • Education
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    Biases In Investing

    Biases are typically insidious and can affect and distort our thinking and interpretation of data and choices without our knowledge.

  • 25 January 2010
  • Education
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    Exchange Traded Funds In Vogue Nowadays

    ETFs allow an investor to have an exposure to a whole country, region, sector or an industry.

  • 11 January 2010
  • Education
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    3 Steps to Get Started on Forex Trading

    This new year, you want it to be different. You want to learn a new trading instrument to boost your returns.

  • 08 January 2010
  • Education
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    Why We Are Our Worst Enemies When It Comes To Investing

    Are we our own worst enemies when it comes to investing? The answer seems to be a resounding “Yes”, if we are to believe the work done by psychologists in the field of behavioural finance.

  • 16 December 2009
  • Education
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    Commodities – Unravelling This Ubiquitous Term

    Commodities have caught the limelight yet again with gold prices smashing record highs on 3 Dec 09 at US$1,226.56 and closing at US$1,115.40 on 11 Dec 09.

  • 14 December 2009
  • Education
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    Revisiting Valuation Metrics

    With 2009 coming to a close, it is perhaps a good time to refresh your understanding of the valuation metrics available in every issue of Shares Investment (Singapore).

  • 11 December 2009
  • Education
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    Spend Your Monthly Leftovers on Aggressive Investment Instruments!

    I read an interesting piece on a personal finance blog that said most people will have a leftover of 10% of their income every month. This leftover is after the usual expenses, saving plans and insurance payments. It is also after all the self-purchased reward presents.

  • 26 November 2009
  • Education
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    Wising Up In Property Investment

    Blame it on the anti-speculative measures introduced by the government in mid September, the resurging Singapore property market has suddenly hit the wall since taking off from its nadir in March this year. Not unexpectedly, the FTSE ST Real Estate Holding & Development has since fallen 3.7% while the STI only retreated 1.9%.

  • 02 October 2009
  • Education
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