Learning that drives better investment decisions

Thai Analysts Have Been 24% Wrong on Average

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Chart of the Day: Globally, analysts have on average been 22% wrong in their EPS forecasts. Thai analysts have been slightly more inaccurate on average at 24%. Remember, YAAW!

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Asset Turnover in Thailand Has Been Above the Global Average

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Chart of the Day: In Thailand, the asset turnover of the average company has been 90%. Thailand went from a low of 46% around the Asian Financial Crisis to a high of 117% around the Global Financial Crisis.

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Gross Profit Margin in Thailand Has Averaged 18%

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Chart of the Day: Thai firms have on average generated 18% gross profit margin. Thailand is more similar to China and Vietnam which are other markets more focused on manufacturing and less on branding.

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The Slippery Slope of Investment Advice

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In our Top 5 this week, we discuss the problem with following investment advice, reveal the market’s great financial gifts, and examine the recent stock fall. All this and more…

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Profitability Regresses Toward the Mean

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Chart of the Day: Over a decade we can’t see a complete mean reversion but the profitability regresses toward the mean. In other words, Stars tend to remain Stars and Dogs tend to stay Dogs.

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Out of 800 Listed Stocks in Vietnam, 80 Are Liquid

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Chart of the Day: While Vietnam has become a hot and interesting market with about 800 listed stocks, virtually 90% of stocks have almost no trading.

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High Net Margin in Vietnam Thanks to Lower Operating Expenses

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Chart of the Day: Vietnam has shown a 21% gross profit margin on average over the past 10 years. Still, Vietnam has delivered a higher net margin over the same period.

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Long-Term Gross Profit Margin by Global Sector

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Chart of the Day: Over the past 18 years, the gross profit margin among non-financials averaged about 28%. Telecoms have had the highest gross profit margin, Utilities the lowest.

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“Rates Are Up and Bonds Are Down”

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In our Top 5 this week, we discuss emotions and retirement planning, examine supply and demand’s impact on markets, and consider the future of Fed rates. All this and more…

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Higher Cash Conversion Cycle in China

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Chart of the Day: The cash conversion cycle in China fell in the 2000s and was in line with the global average around the global financial crisis. In China, receivables collection days fell a lot before the global financial crisis.

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