（转) 月供优质股票

2019年7月2日星期二

月供股票

今天終於去了南洋銀行開新投資戶口，打算8月開始月供股票。

月供股票的目的主要有兩個，第一，穩定投資回報。之前買的股票都不是一些具有壟
斷性的企業，因此，

股票的股價可以如過山車上落，當然，若果企業發展理想，長期回報也會不錯，但是
這樣有機會錯失其

他投資機會，加上投資的企業的發展有機會未如理想，如比亞迪股份(1211)股價可以
又高位七、八十位

跌落十多元，現在再回升至現在四十多位，事後看來，當然會覺得買其他具有壟斷性
且發展穩定的股票

較好，但無可否認，比亞迪依然潛力巨大，一旦在電動車這不停擴張的市場取得成功，
回報將會難以

估計。因此，策略是將投資資金一部份投入具有壟斷性且發展穩定的股票，以確保一
定收益，而另一部

份資金將投入於具潛力股票。，以拉高回報。

第二個目的就是獲取現金流。買入派息穩定且股息有一定增長力的股票可以為我們提
供一定的現金流的

同時，亦可以增加我們現金實力，以便我們在大跌市掃貨。之前在文章(詳見:等待藝術)
都有提及，投資

不可太過急躁，要學會耐心等待，因為在高價買入股票會減少投資回報，什至會招致
虧損，但同時等待

也有機會成本，而月供股票正正可以成為資金出路，也可以裝備我們，為跌市作準備。

基於以上目的，我選擇了中銀香港(2388)和恒基地產(0012)。兩者過去派息穩定且股息
有一定增長力，

前者是香港三大發鈔銀行之一，而且是香港人民幣業務的唯一清算行，對推動人民幣
國際化有舉足輕重

的作用，加上一帶一路的潛力，令它成為一個能穩定增長的企業。

另一邊廂，恒基地產身為香港四大發

展商之一，具有一定規模優勢，雖然地產業務質素及不上新鴻基，但其農地儲備卻是最
充足，因此有一

定潛力，加上其子公司中華煤氣在港的壟斷地位和在內地的良好發展，促使它成為我另
一個月供選擇。

（转）他會重倉最有信心的幾支股票，剩下的倉位就有幾十支以上的股票。

今天路過書局時，就信手拈了本投資書籍，本書書名有些長，全名叫<<金錢王者－－全球價值投資大師致勝之鑰>>，作者是創立Chartwel Capital投資管理基金的陳惠仁。

本書記載了陳惠仁在拜訪十二位世界頂尖級的價值投資基金經理的得著，當中的基金經理不少都是Benjamin Graham 的學生，他們都從這位價值投資大師身上學習了不少投資的精要。在速讀下，我發覺他們都對投資有熱誠，儘管出身不同，但最後都踏上成功的投資路。

巴菲特喜歡集中投資，並曾說：「把所有雞蛋放在同一個籃子裡，然後小心地看好。」，但另一邊廂，被巴菲特推崇備至的施洛斯卻是分散投資的佼佼者，手持上百支股票。

而有亞洲股神之稱的謝清海先起初創立惠理基金時，探取了集中投資的方法，但因亞洲市場上有太多騙人的伎倆令他倍感壓力，後來他採用分散投資以減低商業、經濟或政治風險。

我後來再讀及其中一個基金經理(忘記他的名字了)，發覺他的投資方法最適合我，他類似結合了兩種方法。

他會重倉最有信心的幾支股票，剩下的倉位就有幾十支以上的股票。

這比較適合我因為此方法既可以減少集中投資下股票波動所帶來的心理壓力，同時又可買入多支股票，以增加買中優質成長股的機會。

（转载）由$2.26美金到1.5百萬美金

1.失落的少年

"Financial Freedom" 的作者 Grant Sabatier 的在2010年8月份的一天被媽媽叫醒，這時已經是早上11時，
也是一個剛失業的24歲美國青年覺醒的時候。他醒來想起身的第一件事就是他不堪入目的財政狀況，
他毅然地用手機登入了自己的銀行帳戶，他驚訝地發現，他的儲蓄戶口在隨著他失業而不斷萎縮情況下
，只剩下$2.26元。他並沒有因此意志消沉，而是大膽用手機截圖，並印出來以紀錄這"歷史性時刻"。

2.現實的殘酷
他的第一份工作是在一間分析公司，由於工作地點較遠，為了準時上班，他每天得在4:50am起床，為
了討好上司，即使工作環境空氣混濁、燈光刺眼，他也咬緊牙關做下去。縱使他很努力地工作，但在6
個月後他依然被公司解僱，原因是他為公司賺得不夠多錢。而他這六個月的付出是回報是什麼?$15,500
稅後工資、$12,000的信用卡欠債以及二十磅的脂肪!他之後在失業和兼職的狀態中徘徊，在經濟拮据的
情況底下，既要還卡數又要交租，導致他患上了驚恐症。

3.蛻變的過程
由$2.26元到$1.5百萬美元資產，到底他經歷了什麼?

第一步——珍惜時間，金錢是無限的，而每人的時間卻是有限，不要為了生計而放棄追尋理想生活，要
努力地讓錢為我們工作，以致我們不用為錢工作。

第二步——開拓不同收入來源，Grant鼓勵我們在做正職之餘，也抽些時間去做兼職，而這些兼職最好和
我們的興趣和能力相符，因為這樣才能讓我們在身兼正職情況下，更有效率和動力去幹活。兼職範疇很闊
，由放狗到設計網頁都有，除了興趣和能力外，我們也可以考慮兼職的潛在賺錢機會、擴大規模的潛力以
及變成被動收入的潛力。挑好兼職會增加我們的收入來源，什至足以致富。

第三步——增加儲蓄率，年輕人各有自己儲蓄的習慣，Grant強調了儲蓄的重要，今天的一元可化作他日的
幾元，儲得愈多錢，離財務自由的目標就會愈近。同時，他也強調儲蓄也要講平衡，可以多留意哪些東西
對自己的性價比最高，哪些性價比較低，這樣便可作出理性消費。

第四步——盡早投資，儲蓄和投資都是如影相伴的，當我們做好儲蓄後，就要理智投資，以致我們可以滾
存所得，在減少消費情況下，再將投資所得投資，利用複利威力將金錢滾大。

作者足足花了5年，不停重複以上步驟，終於達致財務自由。
4. 目標——財務自由?
其實，以上只是老生常談，但看見一個由$2.26元到$1.5百萬美元資產的勵志故事，仍然令人鼓舞。作者在
最後談到財務自由不是為了賺更多錢，反而是讓我們不用更花心神地賺錢，因為不少人的人生並不只在於
賺錢，有的想有多些時間陪伴家人，有的想服侍弱勢社羣，有的想環遊世界。所以財務自由重點不在於錢
，而是在於自由。

BANK CROOKS AND INSURANCE CROOKS----好想退休！ 退休金的最佳盤算 你會運用嗎？《今晚好好說》20191022 闕又上 劉鳳和

Amazing mind reader reveals his 'gift'

BUDGET毫无看头可言。。。。。。2020 无厘头预算案

股市下跌，这是跌市，AVOID

BUDGET没有一点看头，

乱世加剧！

不要加注，外资不会来，还在继续撤离，

能够走的都打算尽快撤离资金，

不会把资金转入。。。

老实说，

许多人谈到BUDGET就摇头，

没有看头。

以为在讲民主行动党

这个乱世，也有点厌世－－－拿到再生能源发电计划，也不要

CAM RESOURCES BERHAD

Type	Announcement
Subject	OTHERS
Description	CAM RESOURCES BERHAD (CAMRES) - Feed-In Tariff (FIT) Approval granted to Saluran Suriamas Sdn Bhd by the Sustainable Energy Development Authority (SEDA) for the Renewable Power Generation Project
Reference is made to CAMRES’ announcements made on 11 November 2016 and 16 November 2016 in relation to the Feed-In Tariff (“FIT”) approval granted to the Company’s wholly-owned subsidiary, Saluran Suriamas Sdn. Bhd. (“SSSB”) by the Sustainable Energy Development Authority (“SEDA”) to build and operate a renewable electrical energy power plant with a capacity to supply 7.0 MW per hour of electricity to Tenaga Nasional Berhad for a period of 16 years ("the Project").  Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the earlier announcements. The Board of Directors of CAMRES wishes to announce that after due consideration and further re-assessment on the feasibility of the Project, SSSB has decided that it will not proceed with the Project and will voluntarily surrender the approved FIT quota for the Project to SEDA. The decision to cancel the Project is due to the increment on the total investment consideration of the project which has reduced the rate of return on investment and higher investment risk and business risk due to the lack of proven track record and lack of security in long term fuel supply as well as lack of technical expertise. As the Project has not commenced, the cancellation of the Project is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and the substantial shareholders’ shareholdings of CAMRES and its subsidiaries for the financial year ending 31 December 2019. This announcement is dated 9 October 2019.

ＧＡＭＩＮＧ ＳＨＡＲＥ－－－－ＮＯ ＭＯＲＥ ＡＴＴＲＡＣＴＩＶＥ ＡＮＤ ＳＨＩＮＩＮＧ

The gaming sector stood out as the star performer this year especially the NFO players such as BJTOTO and MAGNUM which rallied 26% and 47% YTD, respectively, boosted by the solid recovery of ticket sales. At one point, the casino operator, GENM also recovered considerably after being bashed down heavily end of last year due to a string of negatives such as a 10% casino tax hike, cancellation of Fox Theme Park and RM1.83b impairment for the US Tribe’s promissory note. However, the recovery was scuttled by the Empire deal in August, putting GENM and GENTING back to a square one. We believe both the NFO players are fully valued after the good run for the year. As such, we cut the gaming sector to NEUTRAL from OVERWEIGHT previously. Having said that, the NFO names still offer above average yield 4% to 6%.

No longer attractive; downgrade to NEUTRAL.

We are no longer upbeat on the gaming sector given the limited upside following the strong rally in NFO stocks while the casino stocks were hammered down due to a related party transaction (RPT). 

In the past three months, we downgraded both BJTOTO (MP; TP: RM2.80) and MAGNUM (MP; TP: RM2.80) to MARKET PERFORM from OUTPERFORM as they had rallied 26% and 47% YTD on the back of solid ticket sales benefiting from enforcement curbing illegal operators. We also cut GENM (MP; TP: RM3.20) to MARKET PERFORM due to its RPT acquisition of loss-making Empire which also affected sentiment toward

GENTING. (OP; TP: RM6.75) As such, we are of the opinion that the gaming sector is being fairly priced in at the moment. Thus, we downgrade the sector to NEUTRAL from OVERWEIGHT. Nonetheless, GENTING is still attractive given the stock is trading at 50% discount to its valuation which implies 1.5SD below its 3-year mean. The impending new licence in Japan is still the key price catalyst for GENTING.

根本保障不了投资者的大马公司委员会－－烂

SSM前首席执行员母子面控

大马公司委员会(Companies Commission of Malaysia，SSM) 前首席执行员 Zahrah Abd Wahab Fenner 及其儿子Abdulazeez Wan Ruslan会在明日(2日)被控贪污。

反贪会(MACC)今日表示，两人会在吉隆坡地方法庭被控数项贪污罪。

“两人是在今日下午约2点被传召至反贪会协助调查。”

惟反贪会没有透露进一步详情。

RECESSION IN 2020

Clear warning signs for global recession in 2020 — UNCTAD

Publish date: Thu, 26 Sep 2019, 1:53 AM KUALA LUMPUR (Sept 26): The world economy is heading into troubled waters, with recession in 2020 now a clear and present danger, according to the United Nations Conference on Trade and Development (UNCTAD).   In its Trade and Development Report 2019 released today, UNCTAD said warning lights were flashing around trade tensions, currency movements, corporate debt, a no-deal Brexit, and inverted yield curves.   "There was little sign that policymakers are prepared for the storm ahead," it said.   The report called for focus on boosting jobs, wages and public investment to replace policymakers' obsession with stock prices, quarterly earnings and investor confidence.   Even ignoring the worst downside risks, the report projects global growth to fall to 2.3 percent in 2019 compared with 3 percent in 2018.   Several big emerging economies are already in recession, while some advance economies, including Germany and the United Kingdom, are dangerously close, said the report.   Trade growth is set to slow sharply this year to 2 percent from 2.8 percent, following weakening global demand and compounded by the unilateral tariffs imposed by the United States administration.   The bigger concern, according to the report, is that 10 years on from the 2009 crisis, the global economy remains excessively financialised and fragile.   Meanwhile, the report also noted that debt has become a dominant driver of global growth but has failed to deliver a strong surge in productive investment, instead fuelling financial speculation.   "In this environment, developing countries have seen debt transformed from a long-term financing instrument to help unleash their future growth potential into a potentially high-risk financial asset, subject to the vagaries of international financial markets and proliferating short-term creditor interests," it added.    - Bernama