Jump to content

Genyi

Member
  • Posts

    38
  • Joined

  • Last visited

Everything posted by Genyi

  1. Yes. Phillip Capital operates in Singapore since 1975. They are quite big there and regulated by the Monetary Authority of Singapore. For me, that's enough, but of course do your own due diligence.
  2. Phillip Securities (Singapore) seems to offer this: https://www.poems.com.sg/markets/turkey-bist/?product=stocks Please double check with them before signing up. They removed the Turkish stocks from online trading, so you will have to rely on broker-assisted trading.
  3. After taking a few steps back, I reconsidered our discussion above and earlier in the NICE Information & Technology thread. I drew my conclusions and took action. I sold my Korean holdings at Monex Boom, so that only Hong Kong listed shares remain in my portfolio with them. I also brought down the total value of my holdings below 500,000 HKD as to purposely position myself for the HK rescue fund should that ever be necessary. Following are some thoughts I had. Boom is a foreign broker for me, who holds my shares with a Korean broker which is foreign to them. If there is any issue with the shares or their registration in Korea, I will depend on Boom to resolve it on my behalf. There is no monetary incentive for them to act effectively, besides honoring our relationship and protecting their reputation. Let me emphasize that I have no reason to doubt Monex Boom in any way. I have used their services for over 10 years and never found any flaw with them. I will keep holding Hong Kong and Chinese shares with them. There's just too many hops between me and my Korean shares to feel comfortable. I will have to find a local Korean broker like Cicero did or use Interactive Brokers if the Korean equity market is ever offered. As noted before, I am a bit surprised the HK rescue fund bailed out the clients of six(!) defaulted brokers since 2006. It seems that segregating clients accounts was not practiced by these brokers. I do not speak Mandarin and could not research these cases further. https://www.hkexnews.hk/sdw/search/searchsdw.aspx Through this link you can list shareholders by stock descending by size of the holding. If we check a few large cap stocks, we learn there are a lot of brokers in HK. Boom seems to be a relatively small broker, although still in the top half of the long tail. Not any red flag by itself, but also not 'too big to fail'.
  4. For Philip Securities Singapore, you may want to check this page: https://globalmarkets.poems.com.sg/markets-we-offer/south-korea-krx/ POEMS is the electronic platform of Philip. You need to call your Trade Representative personally to trade the Korean market. So, I guess you can only view your Korean shares on POEMS without being able to trade them online. Commission in this case is 0.40% but also note the custody charges of SGD 2.14 per month which can be avoided as a larger customer.
  5. Interactive Brokers has a Features Poll where users can suggest new products and functionality and other users can support the suggestion (or not) with their vote. Recently someone suggested to add access to the South Korean Stock Exchange. https://www.interactivebrokers.com/en/index.php?f=2493&sid=15782 It looks like the admins didn't even let the voting start, but set the status to Scheduled right away. Note that Interactive Brokers already provides access to Korean Futures. This looks a promising sign of more to come.
  6. It's maybe good to mention that this threat spawns from the discussion topic Nice Information & Technology where we went off-topic discussing broker issues. Starting here: https://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/nice-it/msg455532/#msg455532 As discussed there, there is another important concern besides platform ease-of-use and trading costs. That is the safety of your holdings when a broker outside of Korea (like Boom) uses a broker inside Korea to process and register your Korean trades. What would happen with clients' stock holdings and cash balances if one of those brokers would default and cease operations.
  7. I just finished reading this book. It sketches out the investment philosophy of AKO Capital, an equity fund based in London. The writers Torkell Tveitevoll Eide and Patrick Hargreaves are Portfolio Managers of this fund. Lawrence A. Cunningham, a writer of several value investing books, was hired for additional writing and editing. According to AKO, three characteristics indicate quality investments: "strong, predictable cash generation; sustainably high returns on capital; and attractive growth opportunities". No surprises here. The thesis is that, although such companies are often priced at high valuations, these valuations may still be a bargain compared to the future earnings trajectory. In other words, the earning power of high quality companies is still under estimated by the market. The book is dedicated to describing features of quality companies, recognizing their business models, avoiding pitfalls in identifying them and ways to implement a quality investing strategy. There are also 22 case studies, all describing European large caps: Unilever, L'oreal, Ryanair, Diageo, etc. No big surprises here, especially for European focused investors. The case studies are only a few pages each. In fact, all of the subjects of the book are described very succinctly, be it business cycles, industry structure, management quality and psychological biases while investing. There are no numerical examples, only qualitative remarks. Hence, the book feels more like a summary of a few books worth of content. Since most members of this forum already read a lot of books on value investing, I don't think this particular book will add much value. It is well written though and I did enjoy reading it as a refreshment course on important aspects of long term value investing in quality companies.
  8. In Singapore there is a monthly publication called Shares Investment http://www.sharesinv.com/, which can be found in the larger bookshops. If I remember correctly, the Straits Times Index constituents are listed every month together with a (large) selection of mid- and smallcaps. So, you may need a couple of subsequent issues to see all listed companies. In Malaysia there is a comprehensive Stock Performance Guide Malaysia, published twice a year by Dynaquest: http://www.dynaquest.com.my/index.html
×
×
  • Create New...