For those who can read traditional chinese characters:



However the author might be biased as he likes to trade small-cap speculative counters in the less liquid HKEX GEM market.

No.


Ok, so i supposed the NAV will have direct relation with the Daily Interest.

So, next question is whether a higher or lower Daily Interest is good for (high)NAV?

You say it well author bias. Mutual fund for some ppl is capital. How use $100 can buy already? Of cuz if author is trading speculative small cap $100 maybe can buy but in order to reap great profits I doubt his every trade is $100 only. Such posts come with a bias in whatever the author want to say. If you pose this question $100 I can buy? to the author, I wonder if he will say the same tone. Always read such post with a pinch of salt.

He is not that bad lah haha though he is not officially a license holder however (not the CFA type). He is good at blue chips too (He recommended China Mobile to newcomers not long ago) but these are "boring" for him. Some people trade for a living.

Well theoretically you can buy fractional shares in companies on say NYSE/NASDAQ and build your own miniportfolio or these days index funds/ETFs of all kinds are available.

This post has been edited by TOS: Feb 16 2022, 02:53 PM

Fractional shares come with the hard to sell off part. It is much harder to sell and sometimes you don't transact at the price of the full share it is lower as no buyer want to buy fractional and himself become fractional. Usually in a bigger broker they can consolidate every investor fractional shares into 1 full shares to trade in the full shares market. I think someone mention he tried fractional before still can sell but must wait 10 minutes compared to normal full shares at the same price it is almost instantaneous. The comm fees for fractional shares trade need to factor in also.

You mention author trade for a living then it make sense becuz to really earn your income the highest returns/losses come from individual stock trading and definitely not from mutual fund or even robo-advisors. They trade for a living versus we invest for mid to long term while holding a full-time job. Different scenario but if based as a trader mindset the post is accurate IMO.

Ya you are right. I think denomination matters here. If you are looking at starting amounts of hundreds of dollars then mutual funds/ETFs are unavoidable but with a few thousands, it becomes possible to build up a stock/bond etc. portfolio. This is the case for mid-long term investors.

The author is arguing mostly on the expensive fees paid for fund managers.

(By the way, the author is not some kind of bluffer here and there, the name 周显 is well-known in the financial circles here. Some of his friends are "hidden" rich billionaire with mansions across the harbour here.)

This post has been edited by TOS: Feb 16 2022, 03:26 PM

He is not wrong becuz you see for us who have full-time jobs, we don't really have all the time to research which stock to buy so we pay fees for someone in this case fund managers to do the work. Compared to a guy whose full-time job is to trade of cuz since it is his livelihood he need to research it well becuz every failed trade means today no monies earn means monthly salary reduced or zero.

I think the argument of expensive fees paid for fund managers must be taken into context. He is not wrong but say for somehow who has a full-time job paying say 5-10K monthly shouldn't he focus on the full-time job to make sure this salary don't disappear as in jobless? Then the "free-time" really want to rest so delegate the stock research job to fund managers instead.

The post should be more objective by perhaps putting disclaimer becuz if this post is mindset from a full-time trader it is accurate as I say earlier. But if is mindset from a full-time worker it is debatable becuz really sometimes we just want to rest and pay monies let ppl do the work for us. We just research on best fund (which is less taxing than combing individual stock financial reports etc)

While I agree with most of your points, I don't really think researching on the "best fund" is less taxing than combining individual stock reports etc. That is the author's point. If you can search for the "best fund", and assuming if have the money, you could have constructed the portfolio yourself, bypassing the "managers" (in effect, you are the manager) and save the fees.

Searching for good funds require analysis of the fund manager's style, behaviour, strategy etc and these could be more subtle than open-market avaialble information such as financial reports of companies. (Or as subtle as the corporate culture of a company and its management.)

Which is why the author suggest not to touch funds if you have the money. A passive fund of index ETF for example would work better for those entirely busy with work and occupied. The article is not entirely targeted to traders or speculators. Though its view may be extreme, it can be a good reference for those with more capital to start with.

By the way, that's HK case. So it does not entirely work for Malaysia or Singapore.

This post has been edited by TOS: Feb 16 2022, 04:28 PM

Of course higher daily interest is better as your paid out will be higher

NAV is ver you subjective because it depends on the valuation of the holdings

For MMF usually before paidout it will be highest and once paidout to holders it will be adjusted to lower value then

Continuing from yesterday (now with real-life example )



Anyway, the column highlighted the age-old principal-agent problem, that your fund manager's goal (management fees, profits) may not be aligned with yours (high returns).

https://en.wikipedia.org/wiki/Principal%E2%...93agent_problem

Hi friends,
Why interpac dana safi is not performing at all? No price movement at all. Almost a month.
My entire gain wiped out and now in loss. (from +16% to - 7%).
Since then, the funds' price remain the same.
Is there any problem with their funds?

Any feedback/input from FSM CIS/Cs?

Thursday, 2/17/2022 14:18
GOLD PRICES surged within $3 per ounce of $1900 in London trade Thursday, hitting fresh 8-month highs in Dollar terms as global stock markets slipped, as did energy prices, after fighting broke out in Ukraine's 'breakaway' region of Donbas.

GOLD is coming up lately, quite good price, and dont know how long it could stay ..

As an insider once said, ESG is a joke.











(Sorry, no electronic subscription from my uni, have to resort to photo-taking from a mid-class quality mobile. )

This post has been edited by TOS: Feb 21 2022, 03:04 PM

no post at SA thread?....there had been many recent discussion about ESG etfs as an investment of choice

Ok. Will do.

Thanks, looks like serious allegation when many fund houses are promoting their ESG funds?

In some ways, yes. But there are many things to consider as well. For one, there is no universal ESG standards. Some emphasizes E more than S and G, and some emphasizes G more than E and S. Emphasizing E would mean you have heavy weights in RE (renewable energy) counters, but on the contrary emphasizing G would probably mean exposure to some blue chip O&G counters.

In the end, if you really want an ESG fund that really focuses on ESG, you should scrutinize the fund's holdings, that's the best way to understand the fund itself. Another thing to note is not all RE counters are profitable, for example, but it is for most blue chip upstream O&G counters (Exxon, Shell, Total, BP etc.). More often than not, you don't just want ESG, but also a decent and respectable financial returns. However, pure ESG funds are rarely seen. For one thing, it's difficult to juggle between both ESG returns and financial returns.

Which is why you can have ESG funds with lots of banks holdings (while banks may still grant loans to say coal plants (most don't these days), LNG and petrochemical plants etc.) or tech stocks (Apple seems to tick all the ESG boxes until you learn that their suppliers like Foxconn and other Chinese/Taiwanese suppliers are embroiled in low-wage scandals, toxic working environment etc.)

https://www.theverge.com/c/22807871/apple-f...ervice-pandemic (Think twice before you buy an iPhone next time or becoming an AAPL shareholder. )

Lesson is: If pure ESG is hard to come by, pure ESG plus decent financial returns are even harder.

This post has been edited by TOS: Feb 22 2022, 02:11 PM

yes, i totally agree with you. The chain is just too long. Even if a company is 'ESG-friendly', its suppliers or suppliers suppliers may not!

i guess we should just stick to reputable fund house, and hoping the best from them.

sigh portfolio back to -9% argh putin....