iFAST: A fast-growing company

iFAST: A fast-growing company Apple, Alphabet and Microsoft are the 3 largest companies in the world by market capitalisation as of the first quarter of 2018. What do these three companies have in common? They are all platform companies – companies that combine demand and supply and benefit from network effects. Platform companies typically see … Continue reading iFAST: A fast-growing company

Why I sold my Tripadvisor shares

I sold TripAdvisor this week for several reasons: Revenue concentrationGoogleSale/IPO of Experiences business Revenue concentration TripAdvisor is still too dependent on Booking and Expedia. Booking and Expedia combined contributed 34%, 25% and 33% of TripAdvisor’s revenue in 2021, 2020 and 2019. New initiatives over the 2019-21 period such as TripAdvisor Plus and display advertisements appears … Continue reading Why I sold my Tripadvisor shares

Why I’m excited about iFAST buying BFC Bank

iFAST has bought a UK digital bank! From iFAST: On 6 January 2022, the Group signed an agreement with its partner, Eagles Peak Holding Limited (“EPHL”), to acquire BFC Bank Limited (“BFC Bank” or ”UK bank”) from BFC Group Holdings (“BFC Group”, based in Bahrain). The Group will have an 85% stake in BFC Bank. … Continue reading Why I’m excited about iFAST buying BFC Bank

Why MPF is only the start for iFAST

iFAST is already the largest position in my portfolio but I’m still looking to buy more shares this week after reviewing third quarter 2021 results. Guidance on the impact of the Hong Kong MPF contract was the main focus of 3Q 2021. iFAST’s ePension segment will be providing operation and administration services for MPF. These … Continue reading Why MPF is only the start for iFAST

4 reasons why I’m holding iFAST

iFAST will be reporting third quarter 2021 results soon and results are likely to be so-so. iFAST non-recurring revenue is usually correlated with trading volume from major stock brokerages such as Interactive Brokers.  iFAST releases results on a quarterly basis but Interactive Brokers (IBKR), which operates in all major iFAST markets releases monthly updates. Based … Continue reading 4 reasons why I’m holding iFAST

HRnet 1H21 results: Still anti-fragile

HRnet reported great results for the first half of 2021. HRnet’s revenue, gross profit and net profit reached a record high in the first half of 2021 because of a big jump in flexible staffing and professional recruitment revenue. Source: HRnet 1H21 results presentation Here are the key points for HRnet’s 1H21 results: Revenue was … Continue reading HRnet 1H21 results: Still anti-fragile

Why I’m holding Fiverr

Fiverr’s share price crashed 30% this week after releasing second quarter 2021 results. Second quarter 2021 results were great with revenue (up 60% year on year) and free cash flow (up 215% y/y) growing nicely. However, Fiverr shocked the market by cutting guidance for 2021 revenue. From Fiverr’s CEO: When COVID restrictions were lifted in … Continue reading Why I’m holding Fiverr

iFAST 2Q21: Good but not great

iFAST second 2021 results were decent but not good enough for the company’s high valuation. Most of the company’s key metrics including net revenue and profit were up year on year but down quarter on quarter because of lower stockbroking commissions. This sequential decline in net profit broke the company’s winning streak where net profit … Continue reading iFAST 2Q21: Good but not great