Personally, i'm waiting for more "discount" - remember, it may be a looooooooong value trap
+ KLCI has been hitting new highs SEVERAL TIMES this month (irrational?)
+ gawd knows what will happen on GE (NAV may plummet?).

when CI bottom and everyone fears that time, and if ICAP got above 26%(past few years discount range is 22%-27%) discount to NAV, then i'll start accumulate it. 

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Added on August 18, 2012, 11:29 am
Bwhahahah  , no cold war lar - just hunting down the discussion issue/item to solve/discuss better.
Sky's a veteran stock trader & investor - me, i'm just primarily a saver + a big pix fler with toes & fingers across asset classes (still lots to learn).
Thus, the things i post may be misconstrued sometimes as i write from my perspective and fellow forumers read from their perspective mar.

Got internal info on ICAP izzit bro HJebat? share share lar if have <poke><poke>

Yeah it's your call to sell so be it. I'm gladly I can continue to buy NAV at a discount of 20%, and with the kind of speed that NAV is growing at a CAGR of more than 18%, I'd be able to realise my investment at RM10 to RM12 in another 8 years at a cost of 20% cheaper, so my investment return would be at a CAGR of 20% in 2020.

Personally, i'd be happy if i executed (a) to (d)
Reason?
If i bought even at 30% discount of NAV
AND the NAV keeps growing at 18%pa CAGR for 10 years till 2020
AND even if the market price still is still 30% discounted of NAV (ie. being equal discount % since the time i bought in)
it still means my returns is 18%pa
[attachmentid=3010469]

I'd buy that for a dollar - 18% CAGR wor..

BTW, what flame war?  Slightly heated bouncing of ideas / ideologies & thoughts only mar, usually happens when ideologies or methodologies collides

Tiok, you should have bought ICAP when the market price is lower than its NAV despite your new average cost of investment would be more than your previous cost. Forget to mention, you have to be a very serious long term investor and willing to lock your fund for long long time one .

er.. i forget what screen shot i uploaded, other than a simple illustration of NAV and discounted 30% market price, getting old & foggy leh

Anyhow, yeah, i'd buy more EVEN if it increases my average buying price, as long as i buy at a high enough discount to be of value to me. Yeah yeah - some fellows' Entry methodology is buy when NAV or price is lower than average NAV held. To that, i throw in a wrench to screw things up - if the NAV or price NEVER goes low enough for 20 years leh. How?

Note - please factor in inflation and value of $ for realism of whether NAV or price will go low enough to be LOWER than one's average cost/price, ESPECIALLY if one has already been through 1 or 2 major down turn buys (ie. one's averaged price/cost is so low, how lar for the market price or NAV to be lower, thus never buy again for 20 to 30 years?)

No right/wrong - just my thinking a bit more serong than straight-line "buy only to lower OR when price is lower than, my average cost/price" 

Er.. i'd buy ICAP or any good stocks/mutual fund/REITs/etc. on such basis, not just ICAP 

er.. i'm unsure about KinWing & other fellow forumers but i tend to treat, evaluate & review EACH transaction separately, even if it's in the same investment.
eg.
first 2 times buying ICAP was coz of good lelong of > 25%.
3rd time may be due to way overloaded with cash/fixed income assets (compared to other classes of assets) and forced to get some good non-dividend equities. ICAP turned out to be the best bang for the buck, 15% discount to NAV, at that specific point in time compared to the rest of screened stocks and mutual funds for MY market.

Thus, at a specific point in time, the reasons of entry may differ, and as long as one follows one's over-arcing plans and entry methodologies (either value, programmatic, trend OR forced rebalancing due to waaaaaay overloaded in a certain asset class, etc.), i think it is good & flexible enough.
Just a thought - different folks, different strokes

AGM over.. TTB won, Laxey Partners failed...

Good, I can buy more cheaper .

When I talked to Tan Teng Boo personally today, I told him that my investment portfolio is performing better than him because I am buying in ICAP shares in discount, and I will continue to support him by buying more .

Majority of the share owners of ICAP are still happy with Mr Tan.

TTB said that the dividend payout recently was solely due to the tax credit balance.  It is one-off.  The duo listing of the fund is still on going.  When asked why the fund is sitting on a huge pile of cash, he explained that most of the counters in Bursa are rich in valuation.  He still holds on to Buffet's investment rule : Never lose money.
His presentation is mainly on macro economy of Malaysia and the America.

Yes, TTB did talk briefly about the investment portfolio.  He did not want go too deep into the portfolio because that may affect the selling and buying price of the share if the other party know the next move of the fund.  Anyway, we have the Investor Day the next day to get the facts from the horse mouth (the CEOs of the companies).  The Investor Day drew a huge crowd especially TTB's talk where the hall was full packed until the door step.

dual listed may help, or may not help. Still, it's all depend on market. Market decide share price. A stock can trade at 90% discount to NAV if market look at it that way (either by ignoring it or negative perspective on its future or disappointed on its management or....something). 

Any1 going for d AGM @ KLCC on 11/10?

Yup n will attend d AGM