Choosing winners is hard. So I came up with a stock picking checklist based on my past mistakes to see if I can improve my stock picking skills. My strategy involves picking two categories of stocks: “Compounders” and “Deep value”. “Compounders” are stocks which can increase their earnings over the long term. Holding such stocks … Continue reading Stock picking criteria
Category: Deep value
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
TripAdvisor: Huge travel platform trading at 9% free cash flow yield
I normally don't write about US companies but TripAdvisor (TRIP) was too cheap to resist. TripAdvisor recently paid its first ever dividend, (USD3.50 special dividend) so there's a chance the company could pay dividends in the future. TripAdvisor is currently one of the bigger positions in my portfolio. TripAdvisor is a travel research platform which allows … Continue reading TripAdvisor: Huge travel platform trading at 9% free cash flow yield
Kingsmen: NERF Marina Square
I wrote this note on InvestingNote last week. Pricing for the Nerf Marina Square attraction is out! My initial reactions: Average pricing $23 to $39 per entry Lower end is meant for off peak (Monday to Thursday sessions) and NERF groups who just need an obstacle course for their group games. Kingsmen is also catering … Continue reading Kingsmen: NERF Marina Square
Kingsmen: NERF matters
Kingsmen's plan to develop NERF attractions is one of the key reasons why I invested in this company so I wanted to share what I learned during the 2018 annual general meeting. The total investment in NERF Marina Square is expected to be around SGD5 million so Kingmen can survive the hit even if this … Continue reading Kingsmen: NERF matters
Kingsmen: Growing with the IRs
Kingsmen’s share price was up 7% this week on news involving a SGD9 billion expansion of the two integrated resorts (IRs) in Singapore. Universal Studios Singapore will be adding more attractions and Kingsmen should be well positioned to win some work as they have done SGD100 million of work on the existing theme park which … Continue reading Kingsmen: Growing with the IRs
Kingsmen: Keep calm and wait for Jewel
Azure Capital has noticed Kingsmen. Check out Terence Wong’s post on IN. 2019 will be a big year for Kingsmen. Kingsmen’s Retail and Interiors segment could get a boost from the opening of Jewel Changi Airport (280 shops and restaurants) in April 2019. This segment’s 2018 pretax earnings is already up 90% year on year … Continue reading Kingsmen: Keep calm and wait for Jewel
CAO Q3 2018 update: Short term headwinds
CAO reported a weak set of results for the third quarter of 2018 with net profit falling 8% year on year. Weaker earnings from its largest associate, Shanghai Pudong (SPIA) and OKYC was the main cause. SPIA was hit with lower earnings despite higher refuelling volumes. SPIA is expanding its facilities (5th runway operational in 1H … Continue reading CAO Q3 2018 update: Short term headwinds
China Aviation Oil (Part 2)
I previously wrote about how China Aviation Oil (CAO) offers value and growth at a price of SGD1.45 per share. A recent history of SATS is a useful analogy for understanding CAO’s potential to become a successful and independent aviation fuel supplier. SATS is a gateway services and food solutions provider that mainly serves the … Continue reading China Aviation Oil (Part 2)
China Aviation Oil: Flying high
China Aviation Oil is one of the few SGX-listed companies which offers both growth and value. China is the fastest aviation growth market in the world with Boeing predicting Chinese outbound passenger traffic to grow 3x from 2017-37. But how can one invest in this trend? Buying airline shares can be risky because of fierce … Continue reading China Aviation Oil: Flying high
