I'm trying to update more often so I'm exploring a regular newsletter which is relevant to the stocks in my portfolio. Let me know what you think! Here's some of the key news this week which could be relevant for TripAdvisor and HRNet. TCOM earnings/China travel recovery: Trip.com reported 1Q results with revenue down 42% … Continue reading Portfolio news this week (ending 30 May)
TripAdvisor: Don’t check out yet!
TripAdvisor Q1 results are out and they are ugly as expected. Q2 will be even worse but TripAdvisor should be able to ride out this downturn. TripAdvisor has cut expenses dramatically including 22% of its workforce while suspending CEO salary for the rest of 2020. In a worst case scenario where sales drops to zero, … Continue reading TripAdvisor: Don’t check out yet!
Is iFAST antifragile?
"Antifragile" refers to things which gain from disorder and iFAST had some big gains in the first quarter of 2020! 1Q20 net revenue grew 25% year on year(yoy) and 11% quarter on quarter(qoq) Recurring net revenue grew 11% yoy and 2% qoq Net client inflows was 224% higher year on year and 119% qoq Net … Continue reading Is iFAST antifragile?
Singapore O&G: 6 things to note in the 2019 annual report
Am I the only SOG shareholder who has given up looking at the share price? Anyway, here's are six key highlights from their 2019 annual report. Let's start with the bad news: Dermatology impairment Increasing competition and weak medical tourism trends in Singapore resulted in a SGD11.3 million goodwill impairment for the year. Excluding the … Continue reading Singapore O&G: 6 things to note in the 2019 annual report
Zero sales test
How long can a company survive with zero revenue? The COVID-19 crisis has forced governments to restrict movement so restaurants, hotels and travel companies are faced with a grim scenario where revenue drops to zero. The cyclical companies in my portfolio such as China Aviation Oil, TripAdvisor and HRNet are vulnerable but I subjected all … Continue reading Zero sales test
Visa: War on cash goes on
Visa is one of the larger positions in my portfolio and I bought more shares during the last two weeks because the company's valuation is close to a four year low. Visa is the world's largest payment network and is present in more than 200 countries. Visa should compound at 10% every year because of … Continue reading Visa: War on cash goes on
Selling Kingsmen
I have sold half my Kingsmen shares and may eventually sell the other half so I won't be including Kingsmen in my scorecard for consistency. Kingsmen reported fourth quarter 2019 results this week and the results suggest that my thesis was wrong for a few reasons. First, NERF did not drive revenue growth. I was … Continue reading Selling Kingsmen
