SEAFCO Public Company Limited is a construction and engineering company that is engaged in bored piling, diaphragm wall construction and civil works including foundation and building construction. Profitable Growth has been great over the years, consistently ranked in the top 30%.
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A very common error that I’ve seen made by analysts is discounting the future cash flows of a business at an unreasonable cost of equity (COE)—which is why it’s valuation mistake #8. Analysts are notorious for trying to manipulate their COE to get the outcome in valuation that they want.
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Bangchak Corporation Public Company Limited is a Thai energy company engaged in refinery, bio-based products, green power, and natural resources business. BCP’s Profitable Growth improved drastically in 2015 but has been declining since.
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In our Top 5 this week, we look at the traps in value investing, examine crowding in tech stocks, and reveal what really ends a bull market. All this and more…
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BEM is the merged entity of BECL and BMCL, and started trading in 2015. The main business of BEM is construction and management of expressways and the Bangkok subway. BEM’s Profitable Growth has consistently ranked at #6 with no changes since 2014.
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Advanced Info Service Public Company Limited is the leading mobile operator in Thailand with 48% of revenue market share. Profitable Growth has been excellent over the years consistently ranked in the top 20% among 130 large Telecom companies worldwide.
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Many financially savvy people across the world are psyching themselves up to register for the most significant exams of their career. The post-nominal designation of CFA requires candidates to overcome many a hard mile, but the challenge is worth the toil.
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Chart of the Day: We have combined the financial statements of China-listed non-financial companies into one for the past 23 years. Even though China’s gross profit margin is lower, the net profit margin is about the same as the global average. Implying that China has higher COGS but lower SG&A and other costs than firms globally.
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In our Top 5 this week, we discuss timing from valuation warnings, examine systematic rebalancing, and see how there’s still life in the theory of loss aversion. All this and more…
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Chart of the Day: We have combined the financial statements of globally-listed non-financial companies into one for the past 23 years. The asset turnover ratio has averaged 78% and has fallen from a high of 92% to a low of 64% in 2016.
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