I wish to take this opportunity to wish all my readers including my critics a Merry Christmas and a Happy 2017. I hope you all especially the losers will make more money in 2017.
After I posted my last article “KC Chong & KYY must show proof of making profit”, I was afraid to look at I3investor website to avoid seeing senseless comments. In fact, my wife tried to stop me from posting the article because in showing proof of making profit, I had to boast about my phenomenon achievement.
Yesterday I received the following emails:
timetokoon has left a new comment on portfolio “Stock Pick 2016 – Koon Yew Yin“:
Ah Koon is winner for 2016
curious2 has left a new comment on portfolio “Stock Pick 2016 – Koon Yew Yin“:
Is TKW competition relevant? So KYY must be poor guy to lose 15%?
younginvestor92 has left a new comment on portfolio “Stock Pick 2016 – Koon Yew Yin“:
Unbelievable…… this is the track record ?
Why_ has left a new comment on portfolio “Stock Pick 2016 – Koon Yew Yin“:
KYY YTD down 15% is poor man?
I advise the above writers to examine their track record to see why they are losers, not only in the stock market but also in their whole life. They must read the most published book beside the holy bible, called “How to win friends and influence people” by Dale Carnegie. In fact, everybody must read it to be more successful in life.
Obviously the above writers have not read the book, otherwise, they would not have insulted me.
As you know, you always need someone to help you. First the medical team helped you come out from your mothers’ wombs. When you wake up every morning, you need someone to produce the food, clean water, your clothes etc. for you. Every hour you need someone to help you. When you are working you need some help from somebody, when you are looking for shares to buy, you need someone to produce the company reports for your information. In short, it is impossible for anybody to go through life without help from someone.
Another classic book I recommend you to read is click this link: http://cnb.cx/2i52UEW
The key takeaway from Bill Gates and Warren Buffett’s all-time favorite book
Coming back to the competition, the rule of not allowing participants to buy and sell during the whole year is unfair.
Focus Lumber was one of the stocks I picked. The reason for my selection was that the company exports its products, a special type of thin plywood, to USA for US dollars and knowing our Ringgit was depreciating in value, I thought Focus Lumber would continue to produce increasing profit.
Its 4th quarter EPS was 10.3 sen and its annual 2015 EPS was 30.7 sen. Unfortunately, the company reported 3.21 sen EPS for its 1st quarter ending March 2016. As a result, its share dropped rapidly. Normally I would sell to cut loss and use the proceeds to buy another better stock. But in this competition, I could not sell any of the shares I picked for the whole year..
To win in this competition you need a lot of luck.
I think the organizer’s computer system is not powerful enough to keep track with all the buying and selling of shares by participants. I am willing to consider to offer you some financial help, in case you need.
I trust the organizer will change the rule so that participants can use their skill instead of depending just on luck to win.