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Alvin Chow

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Alvin Chow

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Alvin Chow

4Upvotes
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DrWealth

Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

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Level 2. Rookie
Updated on 07 Jun 2019
it's a long story i don't know where to start.

Investments

Stocks

PFF Panel 3

Seedly PFF 2019

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 07 Mar 2019
I take a more quantitative approach towards investing and the very first thing to do is to find an edge in the markets. For example, I don't use ROE or ROIC metrics because studies have shown that the performance becomes worse. ! And i stick to proven Factors like P/B ratio to determine Value stocks. !
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Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
My friend has backtested a deep value investing strategy and got a Sharpe ratio more than 1. So it isn't true that it was higher risk with small caps, even though I don't believe using Sharpe Ratio as a good way to measure risk taking. Even equating volatility to risk is debatable. But that's for the academics and practitioners to fight it out. http://treeofprosperity.blogspot.com/2014/06/back-testing-cnav-like-portfolio-using.html

Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
Plenty. One example was Envictus. Even billionaire and F&B veteran, Sam Goi, is a substantial shareholder. But end up one of their investments was a fraud - Yamada Green Resources which is also a listco on the SGX. Lost about 30%.

DrWealth

Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
It depends on your strategy. A deep value strategy like net net where you pay a fraction for the assets, management is not important. If you buy a founder-led company or an A-grade stock, the business viability and prospect is important, and hence management will play a bigger role. The trap is that investors do not have the ability to discern this properly but they think they know a lot.

DrWealth

Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
Our portfolio has beat the index 4 times in the past 5 years.

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
High Returns on Invested Capital is a good investment. Mauboussin showed how unusually high or low profits trend toward the average by tracking one thousand companies from 2000 to 2010. He ranked the businesses on economic profit – how wonderful each was – in the year 2000. And put them into five groups. The top group was the most profitable. These were the great businesses. He put the bad businesses in the bottom group. These, on average, lose money. The chart below shows the results. For each of the five groups, there is a clear trend toward average profits. The highly profitable companies become less profitable. The loss makers lose less money. All trend toward average profitability: !
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Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
A Net Net Portfolio will also decline in value together with the markets. So if it crashes, yes, the portfolio will 'drop drastically year on year'. As with any stock portfolio, always be prepared for the worst. If you cannot accept the worst then you should not have so much stocks exposure.

Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
Any stock broker if that's what you are asking. RSP not ok. Should do lump sum.

DrWealth

Investments

Coffee Meets Investing

Alvin Chow
Alvin Chow

()

Level 2. Rookie
Answered on 11 Jul 2018
We don't or I should say rarely. We are bottom-up investors mainly. Graham also didn't say you need to look at the economy. He merely used stock yields vs bond yields to decide to weight in which asset class.
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