WACC Survey: According to our recent survey, the average Thai listed company pays 8.9% for the money it uses to run its business. About 30% of these funds come from borrowing, while the remaining comes from the more expensive equity market.
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Chart of the Day: Investors are willing to pay a high price-to-earnings ratio if earnings are rising. Unless earnings positively surprise then the US is expensive based on PEG.
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Learning Valuation: IHH Healthcare Berhad is a prominent health-care services provider in Asia, Central and Eastern Europe, the Middle East and North Africa.
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Chart of the Day: Thailand is second most attractive in Asia, moderate to attractive on all FVMR elements. Malaysia appears to be a less attractive, low ROE of 9.7% and high PE of 16.3x.
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Chart of the Day: Over 13 years Inflation contributed 32% of 171% market return. Book value growth contributed 33%. Dividends contributed 19%. The Dream Factor contributed 16%.
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Chart of the Day: Stock returns are driven by four main factors. US companies have had almost no growth in book value over the last three years. The “Dream Factor” has been rising as investors push up valuation.
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In our Top 5 this week, we examine what drives the market up and down, ask how expensive stocks are, and look at the power of collective knowledge. All this and more…
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Chart of the Day: US dollar rally in late 90s and early 2000s was not driven by rising rates. Recent dollar rally not interest rate driven. Dollar strength may be more driven by the risk levels in the rest of the world.
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BFM 89.9 – S&M Show: After the Trump Bump in the US and the ensuing currency turmoil in the rest of the world, is it now the emerging markets’ turn for some investor love?
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BFM 89.9 – Ringgit and Sense: While passiveness makes big waves in the investing world, there’s still a chance for those who want to take investing into their own hands to learn how.
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