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Post by oldman on Nov 5, 2013 10:19:09 GMT 7
me200, it is surprising to see Blumont holding on relatively well. Goes to show that up or down is really anyone's guess. Of course, if you have lots of money, your guess is likely to be more correct than others. Such is the nature of speculative stocks.  For fundamental investors, we look after our downside risks first. If we cannot quantify this or the intrinsic value we calculated is much lower, we rather sit on the sidelines. The trick to building wealth is always to look after your downside first. Another way of putting it is what Warren Buffett always say: Never lose money.... have a margin of safety.  |
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Post by candy188 on Nov 5, 2013 14:30:36 GMT 7
Hi oldman, Appreciate your constant reminders to reiterate the importance of seeking a great margin of safety :)so as to reduce the downside risk (risk of losing hard earned money invested). |
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Post by oldman on Nov 5, 2013 14:32:46 GMT 7
As they say, if I set up this site and make a difference to one person, I am a happy man. |
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Post by candy188 on Nov 5, 2013 14:51:03 GMT 7
As they say, if I set up this site and make a difference to one person, I am a happy man. Hi oldman, Thank you for the effort to spend your quality time to set up this site. It makes a difference to me.   Had been posting religiously on another forum daily for 1 year but no sign of positive affirmation,(there isn't any like symbol to click  & considering majority are passive readers) kind of disheartening.  |
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Post by oldman on Nov 5, 2013 14:56:12 GMT 7
Having set up one forum before, I know that the most enjoyable time is now... .when the community is small and united. When the kampung becomes a town, it then gets rather noisy and it will lose that kampung feeling. When it becomes a city, it may be time to move on again! Sad but this is the likely course of events in the months and years ahead. Hence, I am going to enjoy myself when the community remains young and small. Best thing is that this time, I have no desire to accelerate the growth of this kampung. Small is good.... like my stocks. |
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Post by zuolun on Nov 7, 2013 10:07:29 GMT 7
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Post by oldman on Nov 7, 2013 20:13:36 GMT 7
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Post by oldman on Nov 8, 2013 16:54:14 GMT 7
I feel sorry for those investors who did not read the entire press release and thought that the acquisition price was 40cts as this number was frequently mentioned by the press. The acquisition price of Blumont shares is subject to adjustment. The final acquisition price will be the volume weighted average price of the Group’s shares between the date of the agreement and closing of the transaction subject to a floor price of S$0.20 per share and ceiling price of S$0.60 per share. Closing is expected to take place within 30 daysFull press release dated 7th Oct 2013: infopub.sgx.com/FileOpen/BGL_AlexPR.ashx?App=Announcement&FileID=258965-------------- ACQUISITION OF SHARES BY CHAIRMAN DESIGNATE The Board of Directors of Blumont Group Ltd. (博诺有限公司) (the “Company”) refers to the announcement by the Company dated 7 October 2013 (the “Initial Announcement”) on the proposed acquisition by Mr. Alexander Molyneux, Chairman designate of the Company, of 135 million issued ordinary shares (“Shares”) in the Company (the “Acquisition”). All terms used in this announcement shall bear the same meanings ascribed to them in the Initial Announcement unless otherwise defined herein. Mr. Molyneux has informed the Company that the parties to the Acquisition have agreed to extend the completion period of the Acquisition by 30 days. The Acquisition is now expected to be completed on or before 6 December 2013. The Company will update Shareholders on completion of the Acquisition. In the interim, Mr. Molyneux will remain as Chairman designate of the Company. On behalf of the Board Blumont Group Ltd. James Hong Gee Ho Executive Director 8 November 2013 |
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Post by zuolun on Nov 8, 2013 17:04:34 GMT 7
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Post by zuolun on Nov 9, 2013 12:25:39 GMT 7
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Post by oldman on Nov 9, 2013 12:30:59 GMT 7
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Post by zuolun on Nov 9, 2013 13:28:57 GMT 7
oldman, After watching Chairman of Blumont, Alex Molyneux's interview on 8 Oct 2013, as well as listening to popular Malaysian finance blogger, Salvatore Dali's discussion on 9 Oct 2013, I thought Blumont had the highest chance of survival, out of the 3 troubled stocks. However, on 18 Oct 2013, after the announcement on Blumont's US$200m, Toxic Convertible Bond, I believe Blumont's shareholders (institution and retail) would suffer the most. None of the SGX-listed companies which had resorted to Toxic Convertible Bond survived and turned around, Blumont is no exception.  |
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Post by oldman on Nov 9, 2013 13:43:45 GMT 7
oldman, After watching Chairman of Blumont, Alex Molyneux's interview on 8 Oct 2013, as well as listening to popular Malaysian finance blogger, Salvatore Dali's discussion on 9 Oct 2013, I thought Blumont had the highest chance of survival, out of the 3 troubled stocks. However, on 18 Oct 2013, after the announcement of Blumont's US$200m, Toxic Convertible Bond, I believe Blumont's shareholders (institution and retail) would suffer the most. Yes, toxic convertibles are usually not a good thing to have for any company. Do note that there is a condition tied to the issue of the convertibles which is that the closing price has to be at least 20cts..... pertama.freeforums.net/post/248/thread |
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Post by zuolun on Nov 9, 2013 13:57:29 GMT 7
oldman, After watching Chairman of Blumont, Alex Molyneux's interview on 8 Oct 2013, as well as listening to popular Malaysian finance blogger, Salvatore Dali's discussion on 9 Oct 2013, I thought Blumont had the highest chance of survival, out of the 3 troubled stocks. However, on 18 Oct 2013, after the announcement of Blumont's US$200m, Toxic Convertible Bond, I believe Blumont's shareholders (institution and retail) would suffer the most. Yes, toxic convertibles are usually not a good thing to have for any company. Do note that there is a condition tied to the issue of the convertibles which is that the closing price has to be at least 20cts..... pertama.freeforums.net/post/248/threadoldman, Simply put, Toxic Convertible Bond = loan shark/“big ear hole” (大耳隆) money. |
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Post by oldman on Nov 9, 2013 14:24:01 GMT 7
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& considering majority are passive readers) kind of disheartening. 
