Lone wolf investor

After experiencing thundery showers last week due to Indian Ocean Dipole, the weather had turned decisively warmer these couple of days. So much so for the wimpy Indian Ocean Dipole. Why not an ice cream to cool yourself down? (A lot of favours to choose from the classic to the exotic) Holy Cow Creamery is new to my neighbourhood. They have one store in Yishun. This is their second store after 7 years in operation. They have been cautious in expanding their footprint which I was told. They specialised in gelato ice cream. There are some very innovative favour to try out. Yakult Ice Cream, Blue Hawaii(Blue Pea flower with sea salt) Muah Chee or Charcoal Hojicha anyone? There are old classic like cookies & cream, chocolate etc to choose from.  I ordered a waffle with two scoops of ice cream and a cone($14). Blue Hawaii and Chocolate is our chosen favours. The Blue Hawaii tasted savoury . I personally like it very much . The waffle and ice creams combo does have eye appeal. Chocol...

M. Fazial Fadil Singapore 1967 Study of Three Thermos Flasks circa 1991 Collection of the Singapore Art Museum Market Summary 30 Aug – 5 Sept 2021 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸  - Federal unemployment benefits end this weekend for millions of Americans  - US nonfarm payrolls added 235,000 jobs in Aug vs expectations of 720,000; jobless rate fell to 5.2% from 5.4% - US private payrolls rose 374,000 in Aug vs 600,000 estimate: ADP + US weekly jobless claims drop, layoffs tumble to >24 years low  - US economy created fewest jobs in 7th mth in Aug as hiring in leisure and hospitality sector stalled due to Delta variant  - US hiring slows sharply in Aug with smallest jobs gain in 7th mths amid Delta variant - US consumer confidence in Aug drops to 6-mth low on worries about soaring Covid-19 infections, higher inflation + US home prices in key 20 metro markets surged 19% in year through June, biggest annual price gain ever recorded by survey  + Fed likely to announce ta...

As promised from my last blog, I did some calculation on Keppel. I have included SPH into my calculation due to the likely completion of takeover by Keppel. The egm for SPH is likely to pass due to management shares having overwhelming voting rights(2 to 1 or 66% vs 33%) over ordinary shareholders. The management are allowed to vote on both resolutions at SPH egm on 10 Sept. I will concentrated on two game changing corporate actions happening at Keppel Corp. First been the takeover of SPH, second the merger of O&M business with Sembmarine and Temasek setting up Asset Co to take over legacy rigs and receivable of Keppel O&M SPH   The analyst at cimb had made light work for my research. They have summarised the assets in SPH in one short list. I am in most agreeable to the valuation put on SPH by the analyst except for a few items on the list. (Thank you to Cimb Research) The main asset of which I think is under appreciated by the market is sph’s pbsa asset. Recently Mapletre...

Lone Wolf Fund(LWF) Portfolio as at end of August  1.) Thai Beverage PCL   2.) Keppel Corporation   4.) Cash *Stocks are not rank in accordance to capital invested .  *Just for sharing. Not an inducement to buy or sell . Commentary The STI is down by just under 2 percent in the month of August. Some volatility can be seen in some small cap stocks. Some outperforming small cap companies fell from heaven with correction of up to 30 percent. Lone Wolf Fund was lucky to be higher in the month due to exposure to quality big cap stocks with improving business fundamentals.  I sold Pico Far East early August due the stock price hitting my trailing stop. I farm it out at the money. I am gutted for not taking my profit previously. I was aiming for the sky then. Greedy me. Lesson learn. One of the reason for the sale was due to rising covid cases in China. 60 percent of Pico business come from China and greater China. A rise in covid 19 case might disrupt the ability to h...

Lai Foong Moi Singapore 1931-1995 Trishaw Rider circa 1961 Collection of the National Gallery Singapore Market Summary 23-29 Aug 2021 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸  + US corporate profits surged to fresh record high in Q2, boosted by robust demand and higher prices  + US economy on track for strong jobs market despite Delta variant, no signal given on start of bond-buying taper; Powell  + US is reviewing its trade policy with China: Katherine Tai  + S&P 500 passed historic mark of 4500 pts after Powell’s speech regarding monetary policy  + US personal spending growth moderated in July, climbed by 0.4% from a mth earlier - US consumer sentiment little changed in 2nd half Aug, remaining at pandemic lows as concerns over Delta variant  - US Supreme Court has allowed evictions to resume, ends protection for around 3.5m ppl next 2 mths  - US jobless claims rise by 4000 to 353,000 from pandemic low 349,000 a week earlier  - US introduced import duties ...

“The Velvet Rope Economy-How inequality became big business” by Nelson D. Schwartz touches on the raw nerve of the inequality in our society. Businesses in America are ditching their bread and butter customers for more productive wealthier patrons. What is a Velvet Rope Economy? Businesses are providing premium services and goods to the ever growing pool of wealthy individuals who have the money to pay for the best. In America, God created everyone equally but not consumers. Big Corporate are cashing in according to the 80/20 rule or the Pareto Principle. (80 percent of effort goes to the top 20 percent of your big spending customers.) The Velvet Rope Economy is in full display at theme parks. Have anyone observe the pricing difference for a general admission ticket and the so called “express ticket”. Basically express ticket is a queue jumping ticket. Tickets are usually sold at a much higher premium. It doesn’t cost more for the theme parks to sell the express ticket but it does impr...

Xu Beihong China 1895-1953 Portrait of Lim Loh circa 1927 Gift of the Lim Family in Memory of Lim Loh Collection of The National Gallery Singapore  Market Summary 16-22 Aug 2021 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸  + Fed preparing for taper likely before end year if economic recovery continues + US jobless at lowest level since Covid-19 began March 2020; claims fell to 348,000, down by 29,000 - US retail sales drop 1.1% in July, motor vehicles and parts dealers led the decline, shift to spending on services  + US Conference Board said its index of leading economic indicators (LEI) rose 0.9% to 116.0 in July + US dollar marked fresh 9.5 mths high against major peers on Friday  + Powell to speak on ‘economic outlook’ next week + Yellen backs reappointing Powell as US Fed Chair, whose term expires Feb  - Goldman Sachs lowered Q3 growth forecast for US to 5.5% from 9% due to impact of Delta variant  + US 97% of small business owners won’t pay more income taxes under Biden...