Ah Tan ah...



When you take into consideration the insane increase in AGM expenses (total amount spent for fy 2014 is more than ONE MILLION! ) , clearly the fUn manager, Tan Teng Boo, has gone all out to promote public awareness of his brand.

Simple and brilliant marketing plan.

Marketing 101.

Brand building by creating public awareness thru advertisements.

Drive around town and you can see his smiling face plastered all over RAPID buses.

What a smart idea.

Brand building and now, more and more people KNOW his face.

The big problem is this is a simple closed end fund!

This is not a product!

The fund is to make money for the shareholders and here we see the fUn manager, dumping insane money on advertisements!



Face palm 300,000 times!

So here we are......

Simple questions to be asked.

Yeah, who does it benefit?

Does it help the closed end fund to make money by being well known? NO!

Does it help to make the fUn manager well known? YES!

Smart way to spend other people's money for own benefit, yes? YES!



Exactly!!!

And I feel he throws the 'market is over valued' smokescreen every year during the AGM to mask his MASSIVE mistake by choosing to stay cash heavy.

As a closed ended fund, the objective is to make return from the investment made.

Branding and public awareness will make ordinary consumer based business good aka increase revenue eventually company can earn more profit.
But closed ended fund is not doing ordinary business, it is an investment.

Closed ended fund profit solely come from investment made.
Whether it is a hot selling cake fund or not, it doesn't affect the fund performance (NAV).

Don't get me wrong, not to say fund should or shouldn't make advertisement.

Just what I am try to highlight is that the awareness and advertisement may make public aware such a fund, but it doesn't affect nor can improve the fund performance.
Fund NAV appreciated or depreciated is solely because of its underlying invested asset.

Nice way to make $$$$$$$$$$$


investment Advice: DO NOTHING.........


Make fees Rm6mil...........

Remember : A BROKEN CLOCK IS RIGHT TWICE A DAY


VERY VERY SOON, AH TAN WILL BE RIGHT .......FOR RM6MIL ADVISORY FEE

The dividend+interest incomes are enough to cover all the expenses.. but that means no dividends so far for shareowner

Any new insights/trends from the investor+agm over the weekends?

Able to cover all expenses and let him spending like his own Company?
He has to understand iCapital Biz Berhad and his own fund company is 2 different entity, 2 different ownership and he has responsibility.

Do u know yesterday he defended himself on the share buyback issue, his answer is:-

What if Maxis buyback all its share? It left the telco business.
What if iCap buyback all its share? It left nothing.

This post has been edited by yhtan: Oct 13 2014, 03:19 PM

It is better to distribute the cash as dividend to shareholders, instead buyback.

With consistent dividend each year + good fund performance = free publicity.

Just like some good high dividend stock out there, investors knew them well without need a single cent to advertise their company.

LMAO!

What a damn bloody egoistic and see-two-pig answer!

He's simply too egoistic la....

Which rather explains him spending huge lump sumps of the fund cash on advertisments - so that everyone can see his silly face on Rapid buses!

His face not appear in rapid buses, also appear in the diary/notebook which is free gift given yesterday.

Wanna follow Ah Jib Gor? Promo all over the place

I hear people spending 200 thousand on lavish wedding dinners....

those people not fight with Teng Boo hor....

simply no match laaa....

Sky and land la.......

The fund's 2014 annual report shows the fund spending 450 thousand ringgit on AGM expenses!!!




So only diary/notebook with his face?
Gold plated one ah?




opps..... gold nowadays.... not much value.






This post has been edited by Boon3: Oct 13 2014, 08:32 PM

I won't be surprise on that amount spent, AGM held at KLCC Convention Centre, if not mistaken the hall cost few hundred thousand for single hall

Wonder is Warren Buffet advertises Berkshire?

Ah Tan gonna be right very sooonnn...........

TTB is an experienced stock picker but I’m not overly crazy about that.

I personally like ICAP.

I am not too worried over TTB’s stance for ICAP for the moment. Let's see how it goes in a few years time.

No problem.

Yes, it's ok for you to like ICAP.
It's your choice.

Back to Teng Boo.
Yes, of course, he's an experienced stock picker but do you realize that he's just a fund manager and as a fund manager he should be judged on his performance.
Yes, this is a performance based industry and as a fund manager his duty is to make money for the shareholders.
How does one judge his performance?
Simple.
Look at what he has done the past few years.
And undeniably, anyone who knows anything about investing, can clearly see what Teng Boo has done.
He adopted to a 'stay cash' strategy.

Wait... now that's an ok strategy.
Nothing wrong with it.
It's fine.

The problem is, the data showed Teng Boo adopted this strategy since 2010.
Cash reserves clearly build up in the fun...
which indicated Teng Boo was a nett seller for the fund.

And of course, some can clearly understand what he is doing.
He started the fund at the right time.
Picked a couple of great stocks.
Market rose....
The stocks gained very leng chai for the fund.
Bravo.
Hey, I applaud him for this success.
But since gaining this success or lead, he chose to sit on it...
Like football.
Score one or two goals early, and then defend, defend and defend....

Now......................

THE BIG PROBLEM IS........

the market continued to rise and rise.... while Teng Boo, the fund manager, chose to sell and accumulate cash.

CLEARLY Teng Boo has been wrong about the market since 2010.

Clear as broad daylight.....

Saddest thing is, his ego is getting the better of him, and he has been shouting every year the market is over valued blah blah blah each year since 2010.
And each year, market has proven him wrong.

Sorry but this is how he should be gauged.
His form is badly wrong since 2010.

Like football, you can have a terror geng player in the team...
but sometimes, this terror skillful player can have ZERO form..................

If you are the team manager, should you keep him on the pitch, just because of reputation sake, or should you leave him out of the team cos his current form sucks?

Just some opinion for you.

You do not have to agree with me.

p/s a fund greatest asset (and unfortunately also, the greatest liability) is the fund manager itself.

If I want to buy this closed end fund, there's no way but to be judge the fund manager wisely and also critically.

Well, I get what you are trying to convey but I see it another way. Below are my viewpoints:

1. I think one should judge TTB’s performance as a fund manager based on ICAP’s NAV, not based on what strategy he adopted.

2. At the moment, I’m satisfied with ICAP’s NAV feat & still untroubled with either TTB’s assessment of the market’s valuation or his approach towards cash accumulation.

3. We have a wide range of stock investment options to choose from. I believe each stock has its pros & cons. We just neend some time to study & make sure that the advantages outweight the disadvantages; given personal requirements (depending on objectives, financial situations & risk tolerances). If we deem the good sides surpasses the bad sides, then we invest. If not, then don’t invest.

Different individuals choose to invest for different reasons. Each individual will be able to make a wise decision to invest if the investment fits personal priorities. ICAP fits mine, so I chose to commit. Probably that’s the reason I’m comfortable holding ICAP while you are not…of course that doesn’t mean you’re wrong, just that probably it is unsuitable for you.

Is ICAP still holding Parkson? TTB was very bullish about it but Parkson is not doing good at all.