tag:blogger.com,1999:blog-62838266036793813642024-03-14T13:16:26.089+11:00ASX MoneyProvides content related to investing in Australian Securities Exchange.
Happy investing!ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-6283826603679381364.post-61876137145815670152021-02-22T21:35:00.000+11:002021-02-22T21:35:03.187+11:00Should I Continue to Catch a Falling Knife?<p>It seem like I'm catching a falling knife in my recent investments in <a href="https://asxmoney.blogspot.com/search/label/A2M">A2M </a>and <a href="https://asxmoney.blogspot.com/search/label/APX">APX</a>. My current average positions in these 2 stocks are 20% and 10% down respectively. My original intention was "buy the dips". Thus, I bought at the price where I think the support was but it turned out it has not bottomed out yet The stock price continued to fall. </p><p>I think catching a falling knife is fine especially for investors who usually invest at the longer time horizon and expect the stock price will go up eventually based on <a href="https://asxmoney.blogspot.com/search/label/Fundamentals">fundamental analysis</a>. When it does, catching a falling knife is not really a big deal anymore. Therefore investors usually never admit they catch a falling knife. They buy at a dip instead!</p><p>On the other hand, I can wait for bottom confirmation based on <a href="https://asxmoney.blogspot.com/search/label/Technicals">technical analysis</a> before I take the first position. However, I'm not 100% conformable with this strategy with the following reasons:</p><p></p><ul style="text-align: left;"><li>I will miss the buying opportunity at lower price</li><li>I cannot time the market accurately </li></ul><div>My strategy is buy at where I think the support is. If it goes up, I will hold or potential wait for pull back to enter again. However if it drops after my first buy, I will buy at the next support until it is bottomed out eventually. When there is a sign of uptrend reversal (i.e uptrend), I will buy again at the next pullback. </div><p></p><p>I think the bottom line is I"m a investor or not trader. So I am comfortable with playing with knife and will continue to do so.</p><p><br /></p><p><br /></p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-82474887622410368892021-02-15T15:59:00.000+11:002021-02-15T15:59:00.138+11:00QUAL ETF Performance vs Market Index (XJO and NDX)<p>Whenever I invest in stock or ETF, I always compare its performance with the market index specifically XJO/ASX-200 (top 200 stocks in Australia) and NDX/Nasdaq-100 (top 100 technology stocks in US). This can quickly tell me how well this stock/ETF performed. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-jvD1iubxtvo/X_k510fqZXI/AAAAAAAAC1I/ws8DatTbhAoLBOVst7m1Q3LZPe6WnyowwCLcBGAsYHQ/s1481/QUAL%2BETF%2BPerformance.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="783" data-original-width="1481" height="338" src="https://1.bp.blogspot.com/-jvD1iubxtvo/X_k510fqZXI/AAAAAAAAC1I/ws8DatTbhAoLBOVst7m1Q3LZPe6WnyowwCLcBGAsYHQ/w640-h338/QUAL%2BETF%2BPerformance.PNG" width="640" /></a></div><br /><p>This is 6 years data which since the QUAL inception date. Blue line is XJO, green line is QUAL and yellow line is NDX.</p><p></p><ul style="text-align: left;"><li>XJO - 27% (4% p.a.)</li><li>QUAL - 120% (14% p.a.)</li><li>NDX - 225% (21% p.a.)</li></ul><div>QUAL beats XJO easily but not NDX. In fact, not many stocks can beat NDX. Given the QUAL has 14% p.a., I am very satisfied with this performance. Thus, I have <a href="https://asxmoney.blogspot.com/2021/01/invest-in-qual-or-qlty-etf.html">invested in QUAL ETF</a>. Hopefully it has consistent growth in the future. My <a href="https://asxmoney.blogspot.com/2021/01/my-portfolio-is-lacking-of-etf-exposure.html">exposure to ETF is not enough</a>. It only contributes to 7.5% of my portfolio.</div><div><br /></div><p></p><p><br /></p><p><br /></p><p><br /></p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-33039627071229500112021-02-08T20:39:00.000+11:002021-02-08T20:39:00.298+11:00Invest In QUAL or QLTY ETF?<p>Both QUAL and QLTY ETFs are very similar and they both offer investors exposure to good quality international companies (excluding Australia). I like these ETFs because it suits my investment style and gives me exposure out of ASX. In fact, what they stated in their fund strategy is exactly what I"m looking for a good quality company.</p><p><br /></p><p><b>What Is A Good Quality Company?</b></p><p></p><ul style="text-align: left;"><li>Consistent Earning growth / cash flow</li><li>High return on equity (ROE)</li><li>Low financial leverage (i.e. low or negative net debt to equity ratio)</li></ul><p></p><p>The only few things are not stated (which I also look at) are:</p><p></p><ul style="text-align: left;"><li>Wide economy mode (competitive advantage) </li><li>Future growth rate</li></ul><div><br /></div><p></p><p><b>Why I prefer QUAL than QLTY?</b></p><p>QUAL management cost is 0.4% and QLTY is 0.35%. As you can see from the chart below, their performances are about the same. In fact, strictly speaking QUAL return is higher! :) </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/--BHN5eAluLA/X_WMXmIva3I/AAAAAAAACvY/fTYd7HWYcBAJpeDAQR997Xf4dLc2yClDwCLcBGAsYHQ/s1460/QUAL_QLTY_ETFS.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="778" data-original-width="1460" height="342" src="https://1.bp.blogspot.com/--BHN5eAluLA/X_WMXmIva3I/AAAAAAAACvY/fTYd7HWYcBAJpeDAQR997Xf4dLc2yClDwCLcBGAsYHQ/w640-h342/QUAL_QLTY_ETFS.PNG" width="640" /></a></div><br /><p>So management cost difference is not an issue here but why I prefer QUAL? </p><p></p><ul style="text-align: left;"><li>QUAL is older than QLTY (6 years vs 2 years)</li><li>QUAL net assets is higher than QLTY ($1.5B vs $100M)</li></ul>There are my reasons to choose QUAL but both are really the same in my opinion. You can choose QLTY if you like (e.g. I like the Betashare website way more better than Vaneck!)<div><br /><p>Since <a href="https://asxmoney.blogspot.com/2021/01/my-portfolio-is-lacking-of-etf-exposure.html">my portfolio is lacking of ETF exposure</a>, I have bought QUAL last week at $33. One thing I'm not quite sure is currency risk impact on this ETF since AUD is getting stronger now. It appears to me it probably doesn't really matter in long term. Something for me to look into.</p></div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-85110485878191684912021-02-05T22:00:00.000+11:002021-02-05T22:00:03.991+11:00Value Investing Strategy Based On Trend<p style="text-align: left;">Value investing strategy basically means you invest in stock based on valuation whether a <a href="https://asxmoney.blogspot.com/2021/01/overvalued-undervalued-stock-in-chart.html">stock is overvalued or undervalued</a>. However, purely based on valuation is not enough. You also need to look at the market trend. The trend can tell you what actions to take.</p>
<table style="text-align: left;">
<tbody><tr>
<th><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Valuation</blockquote></th>
<th><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Trend</blockquote></th>
<th><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Actions</blockquote></th>
</tr>
<tr>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Undervalued</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Uptrend</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Buy</blockquote></td>
</tr>
<tr>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Undervalued</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Downtrend</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Wait/buy</blockquote></td>
</tr>
<tr>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Overvalued</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Uptrend</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Wait/Sell</blockquote></td>
</tr>
<tr>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Overvalued</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Downtrend</blockquote></td>
<td><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px;">Sell</blockquote></td>
</tr>
</tbody></table><br /><div>When a stock is undervalued and downtrend, you can either wait or buy. If you're good in <a href="https://asxmoney.blogspot.com/search/label/Technicals">technical analysis</a>, you probably want to wait for the trend reversal signal. However based on my experience, it is really super hard to tell when the trend reversal is. If you're wrong, you could have bought in the higher price. Instead of waiting for trend reversal signal, I usually break my total investment amount to few parcels so I can average down if the price moves down.</div><div><br /></div><div>Similarly when a stock is overvalued and uptrend, you don't sell immediately but wait for the trend reversal signal to sell. The reason is very simple because I have seen many overvalued stocks keep going higher and higher! Even if it goes down and if company fundamental, is solid I will take partial profits instead. This is to reduce the risk of predicting the trend reversal wrongly.</div><div><br /></div><div>This is my investment strategy. Technically it is not pure value investing. I don't know whether it will work but I will be keep experimenting. </div><div> </div><div><br /></div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-60192058050230050772021-02-01T20:24:00.000+11:002021-02-01T20:24:02.790+11:00ASX 200 (XJO) vs S&P 500 (SPX) Market Index Trend in 30 Years<p>Chart below shows XJO market index (ASX 200 - top 200 Australian companies) vs SPX market index (S&P 500 - top 500 US companies) in 30 years from 1991 to 2021.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-jqIqBt9vT00/X_l4ex_5KAI/AAAAAAAAC1U/SQm9BZe8O30UfX8JxZAN3W1Tq8NZVnV0gCLcBGAsYHQ/s1812/XJO_SPX_30_Years.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="793" data-original-width="1812" height="280" src="https://1.bp.blogspot.com/-jqIqBt9vT00/X_l4ex_5KAI/AAAAAAAAC1U/SQm9BZe8O30UfX8JxZAN3W1Tq8NZVnV0gCLcBGAsYHQ/w640-h280/XJO_SPX_30_Years.PNG" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><p><b>Performance In 30 Years</b><br /></p><ul style="text-align: left;"><li>XJO - 303% (4.7% p.a)</li><li>SPX - 1062% (8.5% p.a)</li></ul><div>It seems a lot but per annual, it is reasonable. Since my goal is to beat the Australian market by 20%, my portfolio return should be > 5.7%. So it is not that hard to achieve right? Probably I should beat the US market instead? If it is based on US market, my portfolio should be a least 10% in order to beat the market.</div><div><br /></div><div><br /></div><div>Few conclusions I can make from this chart:</div><div><ul style="text-align: left;"><li>US market is more volatile than AU market but the return is higher</li><li>US market is probably oversold (start diverting in 2009). It seems like a potential pullback / retracement in the US market is coming soon?</li><li>In long run, investment return in stock market is always positive</li></ul></div><p></p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-43314242513366663942021-01-23T10:46:00.000+11:002021-01-23T10:46:00.130+11:00Free Websites For Fundamental Analysis<p>4 websites that I usually visit for researching a company fundamentals. The links provided below use CSL as an example.</p><p><br /></p><p><b>Reuters.com</b></p><p>Reuters is my first go-to website for researching a company. However, if you're on the main page, good luck with that.! You will never find the company that you're looking for. The search button is hard to find (which is at top right) and often the search result doesn't bring you closer the company you're looking for.</p><p>What I do instead is bookmark the following and change the URL directly. For example, if I"m interested in AGL ticker, I just replace the CSL with AGL. </p><p></p><ul style="text-align: left;"><li><a href="https://www.reuters.com/companies/CSL.AX/financials">https://www.reuters.com/companies/CSL.AX/financials</a></li></ul><p></p><p>I like about Reuters because it gives you more financial data than the rest. It provides 5 years financial data while the other websites are just 3-4 years financial data.</p><p>In the "Key Metrics" tab, I also use the Beta value for discount rate when calculating the intrinsic value of a company. I don't see this information anywhere else.</p><p><br /></p><p><b>Morningstar.com</b></p><p>Morningstar main page design is way better because you most likely can search the company that you're looking. The search is working! I refer to this website for operating performance. </p><p></p><ul style="text-align: left;"><li><a href="https://www.morningstar.com/stocks/xasx/csl/performance">https://www.morningstar.com/stocks/xasx/csl/performance</a></li></ul><div>In "Operating Performance" tab, it provides 10 years of financial data! What I usually look for is consistent growth in "Return on Equity" and "Gross/Net Profit Margin). It also provides a little graph for you to easily visualise.</div><div><br /></div><div><br /></div><div><b>Investing.com</b></div><div><br /></div><div>What I like about investing.com is the "ratio" tab. It allows you to compare the company ratio to similar industry average. It is probably not super accurate due to many factors but it give you some ideas.</div><div><ul style="text-align: left;"><li><a href="https://www.investing.com/equities/csl-limited-ratios">https://www.investing.com/equities/csl-limited-ratios</a></li></ul><div>The "Financial Summay" tab is pretty good too. It allows me quickly glance at income statement, balance sheet and cash flow statement</div></div><div><br /></div><div><br /></div><div><b>Simplywall.st</b></div><div><br /></div><div>Simplywall.st is not completely free. It only free for 10 stocks. 2 things that I usually pay attention to are "Valuation" and "Future Growth" sections.</div><div><ul style="text-align: left;"><li><a href="https://simplywall.st/stocks/au/pharmaceuticals-biotech/asx-csl/csl-shares">https://simplywall.st/stocks/au/pharmaceuticals-biotech/asx-csl/csl-shares</a></li></ul><div>In valuation, I would like to see their valuation as compared to mine. Future growth gives you forecasted earnings from 1 to 3 years which I also need this data to calculate the intrinsic value. I don't see this information provided anywhere else.</div></div><p></p><p><br /></p><p>I hope this is useful. Sometimes I also cross check these websites to ensure they have consistent data and if they don't, I will need to do more research (e.g. look for the company annual reports). Good luck and happy investing!</p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-60023265023274857562021-01-19T15:34:00.069+11:002021-01-19T15:34:00.722+11:00Scary High P/E Ratio for ASX All Ordinaries Index (XAO)<p>This is 40-years P/E ratio for all ASX stocks in Australia (i.e. All Ordinaries Index - XAO)</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-4lVI2f1mHw4/X_qFPo61jjI/AAAAAAAAC1g/RxoHOWvF4lIckWxoJqcff64A_uGiQTJdACLcBGAsYHQ/s1790/XAO_PE_Ratio.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="675" data-original-width="1790" height="242" src="https://1.bp.blogspot.com/-4lVI2f1mHw4/X_qFPo61jjI/AAAAAAAAC1g/RxoHOWvF4lIckWxoJqcff64A_uGiQTJdACLcBGAsYHQ/w640-h242/XAO_PE_Ratio.PNG" width="640" /></a></div><i>Source: marketindex.com.au</i><div><i><br /></i><p>It looks scary because it is way above the average P/E ratio which is around 15. It is currently more than 50 which seems like the stock right now is overvalued and potentially stock market crash is coming?</p><p>Firstly, I want to understand whether it is caused by the price or the earning since both can contribute to this high P/E ratio. Thus, I get the following XAO chart for the same period of time.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-9TYvEDVHtA8/X_qI95kjDEI/AAAAAAAAC1s/z32QCI1kLqsHjkMNFzATVLzykIgdPutXQCLcBGAsYHQ/s2479/XAO_1980_2020.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1236" data-original-width="2479" height="319" src="https://1.bp.blogspot.com/-9TYvEDVHtA8/X_qI95kjDEI/AAAAAAAAC1s/z32QCI1kLqsHjkMNFzATVLzykIgdPutXQCLcBGAsYHQ/w640-h319/XAO_1980_2020.PNG" width="640" /></a></div><br /><p>In my opinion, it is a steady growth and doesn't jump up that high as in the first graph during the Covid-19 pandemic. This concludes that the high P/E ratio is caused by the low earnings of all these companies. When these companies catch up with their earnings after all these Covid-19 incidents, the P/E ratio will eventually back to normal? So I view this high P/E ratio as short term and will not cause the market crash.</p><p>Also don't forget the interest rate is now near 0%. This basically making the cash is the even worst investment ever. Investors will think of any way move their money out from cash into either real estates or stocks. As we probably know, this pandemic has created a lot new stock investors. I'm one of them.</p><p>Well, this is just my thought. Yes, scary high P/E ratio but it is okay. Furthermore, <a href="https://asxmoney.blogspot.com/2021/01/what-pe-ratio-is-really-meant.html">P/E ratio is useless</a> as mentioned in my previous post. So, don't worry. Market is not going to crash but it doesn't mean you don't want to reserve any cash. Anything is possible in stock market!</p><p> Good luck! </p></div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-36951670728843327222021-01-14T12:07:00.000+11:002021-01-14T12:07:32.411+11:00Step-By-Step Guides To Value Investing Strategy<p>Everyone has their own investment strategy that they feel comfortable with. I think I'm comfortable with <a href="https://asxmoney.blogspot.com/2021/01/value-investing-strategy-based-on-trend.html">value investing</a> than other investing methods. The thing is my value investing style could be different than yours. So I'm here to share my steps in high-level how I approach value investing strategy</p><p><b><br /></b></p><p><b>Step 1 - Identify a good business</b></p><p>A good business simply means it can consistently generate more cash. So these are the criteria for a good business in my opinion:</p><p></p><ul style="text-align: left;"><li>Consistent growth rate in revenue, net income, gross/net profit margin, and cash flow from operations</li><li>Positive feature earning growth rate for 1 to 5 years</li><li>Consistent competitive advantage</li><li>Consistent return on equity (ROE)</li><li>Conservative debt</li></ul><p></p><p>One of the ways when I look at competitive advantage is compare it cross/net profit margins with the same industry. If it is higher, it has the competitive advantage.</p><p>For conservative debt, I look at the high current ratio, good debt serving ratio and low/negative net debt to equity ratio.</p><p><br /></p><p><b>Step 2 - Identify the stock is undervalued or overvalued</b></p><p>The quickest way is using <a href="https://asxmoney.blogspot.com/2021/01/use-peg-ratio-instead-of-pe-ratio.html">PEG ratio</a> but it is probably not enough. I use discounted cash flow to calculate the current intrinsic value of a stock. If it is lower than the current price, the stock is undervalued and vice-versa.</p><p><br /></p><p><b>Step 3 - Decide when to buy</b></p><p>This requires a bit of technical analysis skill. I'm still learning and what I have been doing is buying at the dip. I usually buy on the following scenarios:</p><p></p><ul style="text-align: left;"><li>Pull back during up trend</li><li>Short term bad news sell off</li></ul><div>I also break my investments to few parcels to buy instead of going all-in. </div><div><br /></div><p style="text-align: left;"><br /><b>Step 4 - Decide when to sell</b></p><p style="text-align: left;">I usually won't sell the stocks. In fact, I haven't sold any stock until now. I think I will consider to sell only when there is enough capital appreciation (usually is more than few years) and the stock is currently overvalued. This also benefits for capital gain tax (GST) 50% discount.</p><p style="text-align: left;">For more details on my plan, see my previous post related to <a href="https://asxmoney.blogspot.com/2021/01/value-investing-strategy-based-on-trend.html">value investing using trend</a>. </p><p style="text-align: left;"><br /></p><p style="text-align: left;">Repeat step 1- step 4 on the next or the same stock. </p><p></p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-12359627568252949872021-01-12T12:53:00.006+11:002021-01-12T21:41:24.469+11:00Australia Unemployment Rate Vs Stock Market Correlation<p>The current stock market doesn't reflect the current economy situation. Is this true? Let's see the chart below to compare unemployment rate vs stock market in 25 Years</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-weL9F8XNgFw/X_e9HdhKy2I/AAAAAAAACxQ/8HW0wU-FtsQZVsOa_1LyRkgEPozJsaskACLcBGAsYHQ/s695/Unemployement_Rate_vs_Stock_Market.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="393" data-original-width="695" height="362" src="https://1.bp.blogspot.com/-weL9F8XNgFw/X_e9HdhKy2I/AAAAAAAACxQ/8HW0wU-FtsQZVsOa_1LyRkgEPozJsaskACLcBGAsYHQ/w640-h362/Unemployement_Rate_vs_Stock_Market.PNG" width="640" /></a></div><div class="separator" style="clear: both; text-align: left;">From 1995-2009 (14 years), you can see that they were inversely correlated. When unemployment rate went down, the stock market when up. However, starting from 2009-2016 (7 years), both were kind of positively correlated. From 2016-2020 (4 years), it was back to inverse correlation. Staring from 2020 until now (1 year), it is positive correlation. </div><div class="separator" style="clear: both; text-align: left;"><br /></div><div class="separator" style="clear: both; text-align: left;">Inverse correlation means stock market does reflect the current economy and vice-versa. If you look at this 25 years of history.</div><div class="separator" style="clear: both; text-align: left;"><ul style="text-align: left;"><li>Stock market reflects the economy - total 18 years</li><li>Start market does NOT reflect the economy - total 8 years</li></ul><div><br /></div><div>Can I say 70% (18/26 x 100) of the time, stock market does reflect the economy? Also, when you see the unemployment rate goes down, it is likely the stock market goes up. So in other words, stock market does reflect the economy only when employment rate moves down.</div><div><br /></div><div>Since unemployment rate is expected going to be down moving forward, I think stock market is probably going to be higher instead of crashing as some of you may have predicted. </div></div><div class="separator" style="clear: both; text-align: left;"><br /></div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-80152310292169823412021-01-11T12:19:00.003+11:002021-01-12T21:41:37.931+11:00Australia Unemployment Rate Summary<p>Unemployment rate is an useful indicator to tell whether our economy is doing well. The following charts are summary of the unemployment rate in Australia for 40 years, 25 years, 10 years and 1 year.</p><p><br /></p><p><b>40 Years</b></p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-IGOL0-U_R8k/X_e1ME-POwI/AAAAAAAACwc/5BOvyYxEQz8q6K8o5gnTp8nU2ZxsXH6-wCLcBGAsYHQ/s674/Unemployement_Rate_40Y.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="308" data-original-width="674" height="292" src="https://1.bp.blogspot.com/-IGOL0-U_R8k/X_e1ME-POwI/AAAAAAAACwc/5BOvyYxEQz8q6K8o5gnTp8nU2ZxsXH6-wCLcBGAsYHQ/w640-h292/Unemployement_Rate_40Y.PNG" width="640" /></a></div>Average is 7%.<p></p><p><br /></p><p><b>25 Years</b></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-bUW-5HTouFY/X_e1i5FGR-I/AAAAAAAACwk/8wVsB1iYmakp2ldRDKFt8vr6jbQolTZtgCLcBGAsYHQ/s685/Unemployement_Rate_25Y.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="311" data-original-width="685" height="290" src="https://1.bp.blogspot.com/-bUW-5HTouFY/X_e1i5FGR-I/AAAAAAAACwk/8wVsB1iYmakp2ldRDKFt8vr6jbQolTZtgCLcBGAsYHQ/w640-h290/Unemployement_Rate_25Y.PNG" width="640" /></a></div>Average is 6%<div><br /></div><div><br /></div><div><b>10 Years</b></div><div><b><br /></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-4oG8KES7bGE/X_e13RX6pnI/AAAAAAAACws/88toHxA-oq4fBoC3vXOxPoWRzUbsyh9ngCLcBGAsYHQ/s685/Unemployement_Rate_10Y.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="311" data-original-width="685" height="290" src="https://1.bp.blogspot.com/-4oG8KES7bGE/X_e13RX6pnI/AAAAAAAACws/88toHxA-oq4fBoC3vXOxPoWRzUbsyh9ngCLcBGAsYHQ/w640-h290/Unemployement_Rate_10Y.PNG" width="640" /></a></div>Average is 6%<div><br /></div><div><br /></div><div><b>5 Years</b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-9kxevIvGbCc/X_e2KT8wRVI/AAAAAAAACw0/R-VVJEX9GRArDf6e8_ywfe8pLQJMRmC8gCLcBGAsYHQ/s657/Unemployement_Rate_5Y.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="310" data-original-width="657" height="302" src="https://1.bp.blogspot.com/-9kxevIvGbCc/X_e2KT8wRVI/AAAAAAAACw0/R-VVJEX9GRArDf6e8_ywfe8pLQJMRmC8gCLcBGAsYHQ/w640-h302/Unemployement_Rate_5Y.PNG" width="640" /></a></div>Average is 5.6%<br /><div><br /></div><div><br /></div><div><b>1 Year</b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-pNU5p70gbjs/X_e2bQfRHAI/AAAAAAAACw8/EK26h8nv5LA_U5LejZm8iZv2kSYybNZPgCLcBGAsYHQ/s676/Unemployement_Rate_1Y.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="310" data-original-width="676" height="294" src="https://1.bp.blogspot.com/-pNU5p70gbjs/X_e2bQfRHAI/AAAAAAAACw8/EK26h8nv5LA_U5LejZm8iZv2kSYybNZPgCLcBGAsYHQ/w640-h294/Unemployement_Rate_1Y.PNG" width="640" /></a></div>Average is 6.5%<div><br /></div><div><br /></div><div><b>Summary</b></div><div><br /></div><div><div>It looks like we have reached the top at 7.5% which is historical high since 2001. The trend seems to moving down. So economy should start recovering slowly. It probably takes 1-2 years to recover to the rate before Covid-19.</div><div><br /><div><br /><p><br /><br /></p><p><b><br /></b></p><p><br /></p></div></div></div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-47101133532506486072021-01-10T22:48:00.007+11:002021-01-12T21:41:50.307+11:00ASX Sectors Performance in 20 Years<p> Table below shows the ASX sectors performance in 20 years.</p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-oK05H0gcYKE/X_bw1iiFJoI/AAAAAAAACvs/B2-1-41lSog6XZGeLZnmE1C6uoU3MCL6QCLcBGAsYHQ/s561/ASX_Sectors_Peformance_20Y.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="289" data-original-width="561" height="330" src="https://1.bp.blogspot.com/-oK05H0gcYKE/X_bw1iiFJoI/AAAAAAAACvs/B2-1-41lSog6XZGeLZnmE1C6uoU3MCL6QCLcBGAsYHQ/w640-h330/ASX_Sectors_Peformance_20Y.PNG" width="640" /></a></div><p></p><p>The highlighted green means it performed better than overall market (which I use ASX 200/XJO) as the benchmark). So the following sectors performed better than the overall market (i.e. top 200 Australian stocks / XJO:</p><p></p><ul style="text-align: left;"><li>Information Technology</li><li>Health</li><li>Material</li><li>Consumer Staple</li><li>Utility</li></ul><div>What does that mean? It means if you want to beat the market, you should invest in these sectors. Material and utility is probably arguable since they didn't beat the market in certain time frames. The rests are okay and health sector is the most performing sector. </div><p></p><p>However, past performance doesn't guarantee future performance. Some experts say we should probably invest in energy sector since it has been under performed for many years. Investors are switching their funds / money into this sector. </p><p>I don't know how true this is but I struggle to understand why health sector won't be performing in the future. I personally think health sector will continue to grow indefinitely. Therefore, I will be investing in health stocks in my portfolio.</p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-84758655264122335892021-01-09T20:14:00.004+11:002021-01-09T20:14:00.357+11:00Use PEG Ratio Instead of P/E Ratio<p>In my previous post, I mentioned <a href="https://asxmoney.blogspot.com/2021/01/what-pe-ratio-is-really-meant.html">P/E ratio is meaningless</a> unless you use it to compare to it's own historical trend. If you want to quickly evaluate a company (whether it is undervalued or overvalued), you can use PEG ratio instead.</p><p><br /></p><p><b>What is PEG Ratio?</b></p><p style="text-align: center;">PEG Ratio = PE Ratio / Projected Earning Growth Rate</p><p style="text-align: left;"><br /></p><p style="text-align: left;">When PEG Ratio > 1, company is overvalued. When PEG ratio < 1, company is undervalue. For example, if a company P/E ratio is 20, a fairly valued company should have 20% projected earning growth rate. If the projected earning growth is 10% then PEG ratio is 2. </p><p>PEG ratio 1 is not practical. What I find out is an undervalued company (based on intrinsic value) usually has PEG ratio < 2. </p><p>Usually PEG ratio is not provided in the website and you need to calculate your own. For analysing stock quickly, I look at the P/E ratio and projected growth rate (which I get it from SimplyWall.St). If the growth rate more than half of the P/E ratio, this company is undervalued. For example above, P/E ratio is 20, I look for growth rate more than 10%. </p><p>You can also use this PEG ratio to compare to other companies (which is more accurate than P/E ratio). </p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-73171460570306005222021-01-08T21:00:00.001+11:002021-01-08T21:00:05.091+11:00APX (Appen LTD) Next Support Line at $22<p>Given the weak US dollar and recent downgrade earning from APX (Appen Ltd), I think the stock price will likely continue to fall. The next support line is at $22. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-xbXOtQLSzO4/X_fMRvw8OKI/AAAAAAAACxc/5ylE3WD4HQgXuy6CWmm9vD4Q-BwKKW-0wCLcBGAsYHQ/s1250/APX_Support_%252422.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="840" data-original-width="1250" height="430" src="https://1.bp.blogspot.com/-xbXOtQLSzO4/X_fMRvw8OKI/AAAAAAAACxc/5ylE3WD4HQgXuy6CWmm9vD4Q-BwKKW-0wCLcBGAsYHQ/w640-h430/APX_Support_%252422.PNG" width="640" /></a></div><br /><p>I would like to see if the price can drop to $22 and whether it will break. If I don't have any position of this stock, I will probably enter at $22 if it drops to this level. The next full year result is going to be interesting (24 Feb 2021). I feel it may not be good. In that case, breaking $22 is highly possible. So to be safe, I think I will wait.</p><p>Fundamentally, I think it is still a <a href="https://asxmoney.blogspot.com/2021/01/a2m-and-apx-are-undervalued-stocks-in.html">good buying opportunity</a> at this price in my opinion. but you should do your own research.</p><p><br /></p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-45632060662272472922021-01-07T16:48:00.009+11:002021-01-09T15:36:58.893+11:00What P/E ratio is really meant?<p>It basically means how much higher you're willing to pay for a business that earning $X amount of money. P/E ratio 3 means 3 times from the earning. For instance, if a company earns $1M net profit a year and you're will to pay $3M for it, then the P/E ratio is 3. </p><p>In listed business, it is hardly you can find any company with P/E ratio 3 which is ridiculous low. In stock market, the average P/E ratio is 15. That means investors are willing to pay 15X higher than the company earning. </p><p>P/E ratio itself is useless or meaningless. It is probably more useful (but probably still useless) if you compare it with the company competitors from the same industry. It is useless because a good company usually has high P/E ratio because investors are willing to pay more for it. On the other hand, low P/E ratio doesn't really mean cheap.</p><p>What I usually look at is the historical P/E ratio of a company and study the trend. Below is the P/E ratio for A2M company from 2016 to 2021.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-2hIk9lzySI8/X_F6xpu63LI/AAAAAAAACtA/SvjBJ2k46WsUtfF6abOi8Tgz9x-nTm_vgCLcBGAsYHQ/s1051/pe_ratio_a2m.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="292" data-original-width="1051" height="178" src="https://1.bp.blogspot.com/-2hIk9lzySI8/X_F6xpu63LI/AAAAAAAACtA/SvjBJ2k46WsUtfF6abOi8Tgz9x-nTm_vgCLcBGAsYHQ/w640-h178/pe_ratio_a2m.png" width="640" /></a></div><div><br /></div>As you can see, the average P/E ratio is around 40 (exclude the initial high P/E ratio from 2016). If the P/E ratio is under 40 (which is now), then the current stock price is under valued. I think this gives you more meaningful information than looking at P/E ratio itself or even compare P/E ratio with other companies in the same industry.<div><br /></div><div>So that is how I make use of P/E ratio. If I have to look at one single ratio itself, I will say PEG ratio which is another indicator whether the current price is undervalued or overvalued.</div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-69904172741616541022021-01-06T22:42:00.022+11:002021-01-08T13:58:02.413+11:00AGL Energy Is Testing the Support Level at $12<p>This is the monthly long-term chart for AGL. It is currently staying at $12 for > 1 week and testing this support level (i.e. 0.786 fib retrenchment from 2001)</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-tA6bh33YjUE/X_RWSXdGm4I/AAAAAAAACuM/sG-dnbqhorMJ5AmTLQ6oh6qJm1az390xQCLcBGAsYHQ/s1297/AGL_Chart.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="808" data-original-width="1297" height="398" src="https://1.bp.blogspot.com/-tA6bh33YjUE/X_RWSXdGm4I/AAAAAAAACuM/sG-dnbqhorMJ5AmTLQ6oh6qJm1az390xQCLcBGAsYHQ/w640-h398/AGL_Chart.PNG" width="640" /></a></div><p>It can potentially drop further as this stock has broken the major trend line. The next support line is at $10.44. I have to wait and see what happen next. </p><p>If you're a value investor, you probably interested in this stock. Current P/E ratio is 7.5 which is all time low since 2018. It is also interesting to see if this P/E ratio can drop further.</p><p>The only thing I"m not so comfortable is forecast AGL growth is -30% in 1 to 3 years. If I use this data to calculate the intrinsic value (based on my assumptions), it worth only for $6. This is ~100% overvalued! However, based on Simply Wall St calculation, this stock is 53% overvalued!</p><p>I already have 2 positions in AGL (that is before I know how to calculate intrinsic value). I still believe this stock is good for long term but ETF may can perform better than this. Also, dividend is >4% in 5 years average.</p><p>So my plan is WAIT. Wait for further confirmation before I take any extra positions in this stock. Probably is a very long wait. I expect this stock will go side-ways similar to 2008-2015.</p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-54196054997221970552021-01-05T21:12:00.002+11:002021-01-08T21:26:49.873+11:00My Portfolio Is Lacking of ETF Exposure<p>I wanted get into ETF but not able to because most of them are just keep going higher and higher! Here is my current portfolio distribution right now. I have one LIC (i.e. MFF) and the rests are stocks.</p><p><b>Total Investment By Stock</b><a href="https://1.bp.blogspot.com/-wGNZ0NejbVw/X_Q3dERM3kI/AAAAAAAACts/PxY3KSy6w88h6Df3d6qucoTaS4AII6TIgCLcBGAsYHQ/s412/Total_Investment_By_Stock.PNG" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="227" data-original-width="412" height="352" src="https://1.bp.blogspot.com/-wGNZ0NejbVw/X_Q3dERM3kI/AAAAAAAACts/PxY3KSy6w88h6Df3d6qucoTaS4AII6TIgCLcBGAsYHQ/w640-h352/Total_Investment_By_Stock.PNG" width="640" /></a></p><div class="separator" style="clear: both; text-align: left;"><b>Total Investment By Sector</b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-eo1qfoVfe80/X_Q3gPHdxgI/AAAAAAAACtw/ES2xoyY84JAQGAi4fthtlYYBpnMOW2VcgCLcBGAsYHQ/s460/Total_Investment_By_Sector.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="235" data-original-width="460" height="326" src="https://1.bp.blogspot.com/-eo1qfoVfe80/X_Q3gPHdxgI/AAAAAAAACtw/ES2xoyY84JAQGAi4fthtlYYBpnMOW2VcgCLcBGAsYHQ/w640-h326/Total_Investment_By_Sector.PNG" width="640" /></a></div><div><br /></div>Specifically the following ETFs are under my watch-list:<div><ul style="text-align: left;"><li>NDQ (preferred) / FANG</li><li>QUAL (preferred) / QLTY</li><li>HACK</li><li>ASIA</li></ul><p>QUAL looks like could be a good time to enter now. Hopefully it drops a bit further by this week, so I can probably add my first position. I almost made it to invest in HACK but missed the opportunity now. It has just broken the trend line and has been up by >20%!</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p> </p></div>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-41859770365598617692021-01-04T20:37:00.008+11:002021-01-08T13:58:49.236+11:00A2M (A2 Milk Company Ltd) Hits $16.25 Resistance Level<p> A2M has been rallying up for 7 consecutive trading days from the most recent sell-off. It is around +18%! Maybe it is time to pull back? </p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-YUbsuAcDhdg/X_Lf-j7uziI/AAAAAAAACtg/45vkKfE51e4Ta6Ia_4fCDjC09PBG36RvgCLcBGAsYHQ/s1293/a2m_hits_%252416.25.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="727" data-original-width="1293" height="360" src="https://1.bp.blogspot.com/-YUbsuAcDhdg/X_Lf-j7uziI/AAAAAAAACtg/45vkKfE51e4Ta6Ia_4fCDjC09PBG36RvgCLcBGAsYHQ/w640-h360/a2m_hits_%252416.25.png" width="640" /></a></div><p>It seems like A2M is hitting the $16.25 resistance level. Volume seems to dry up indicating potential reversal or maybe sideways? Overall trend is still down, so it is likely to go down from here. If it does go down, I"m thinking to enter at 0.618 retrenchment level which is ~$10.50. I may enter higher since my intention is to average down my position.</p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-10330529167150227032021-01-03T13:48:00.008+11:002021-01-09T15:37:07.579+11:00Overvalued / Undervalued Stock in Chart<p>I particularly like this chart diagram because it is clearly shows what the overvalued stock vs undervalued stock means.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-jEIIokGNXgs/X_F5mXr5S4I/AAAAAAAACsI/6UUbKby8K3g3iBh0YliDKjCOqwpbqYu-ACLcBGAsYHQ/s1292/overvalued_undervalued.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="593" data-original-width="1292" height="294" src="https://1.bp.blogspot.com/-jEIIokGNXgs/X_F5mXr5S4I/AAAAAAAACsI/6UUbKby8K3g3iBh0YliDKjCOqwpbqYu-ACLcBGAsYHQ/w640-h294/overvalued_undervalued.png" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><p>Prices below the intrinsic value line is considered as undervalued and above is considered as overvalued. The optimum price to enter the market is during the pullback in the undervalued region. This is called "buy the dip".</p><p>However, this is just a theory. The intrinsic value calculation is very subjective. My intrinsic value for a particular stock is different than yours. In other words, what is undervalued to you might be overvalued to me and vice-versa. Therefore some people are saying "value investing" is dead. Is it?</p><p>I think as a fundamental investor, the most important thing is to invest in a company that has a good fundamental business. If the fundamental is good, intrinsic value will be increasing over time. Having to know the intrinsic value allows you to buy a particular stock price at discount level. Isn't it good? Assuming the worst case where you evaluate the intrinsic value wrongly (i.e. buy at overvalued price instead), eventually stock prices will still catch up. So in long run, you're not losing.</p><p>If we don't invest based valuation, then it is based speculation. This is a very dangerous game in my opinion. In that case, we shouldn't called this investment anymore. It should be called trading. But trading based on speculation is dangerous too, it should be based on the technical analysis (which is ultimately a probability game).</p><p>I think value investing should work. The challenge is really how to evaluate good business and calculate the intrinsic value. You can argue it is subjective but what other investing method that is not subjective? </p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-9940537508077432282021-01-02T18:54:00.007+11:002021-01-06T06:48:15.362+11:00A2M and APX are Undervalued Stocks in ASX - Buying Opportunity Now?<p>Two strong fundamental stocks are currently under value in ASX and I think it is good buying opportunity now before they go up.</p><p>This is to document what I have done and my plan on these stocks, not to explain in the details why. :)</p><p><br /></p><p><b>A2M (The A2M Company Limited)</b></p><p>It has been dropped >40% from $20 due to the 2 downgrades consecutively. The lowest price is at $9.82 and currently is trading at $11.45 which has been up >15% from the lowest point. I'm waiting for the pull back to buy in. Currently my aim is at $10.50. The intrinsic value is around $14 (based on my calculation) which is now trading at 20% discount. </p><p>I already have 2 positions. First is at $15.4 and second is at $14. First position was a mistake. I learned that we should wait for the bad news to settle down (takes 2 - 3 days) before we enter. However, it didn't work on the latest dip at $9.82 which it doesn't really settle down but rally up instead on the next day. I guess we really can't predict the stock? My second position was just merely to average down my buying price which I didn't manage to buy at the $13 support level (which I"m okay). Up to today, it is -20% capital lost.</p><p><b><u><br /></u></b></p><p><b>APX (Appen Limited)</b></p><p>Similar to A2M, it has been dropped >40%, which is trading at 40% discount based my intrinsic value calculation.</p><p>I only have one position in stock which is at $25, around -2% capital lost from the current price. It looks like it is gong to be consolidate between $24 and $25. Whether there is a next downgrade, I think we need to wait for the next earning release on 24 Feb 2021. My plan is wait for $24 support level confirmation and buy at this level. </p><p><br /></p><p>The risk is really further downgrade from these 2 companies (which is possible). In that case, I will average down my positions. This based on the assumption these 2 companies are still strong in fundamental and business model. For A2M, I really wish there is a pull back. If not, I will probably missed the big discount opportunity. :) </p><p>Happy investing and this is not financial advice.</p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-14346489496553101902021-01-01T23:19:00.016+11:002021-01-09T23:36:58.888+11:00Disclaimer For ASXMoney.blogspot.com<p>All content provided on ASXMoney.blogspot.com is not financial advice. It is for informational and educational purposes only. You should not rely on any of the information presented in this blog as a basic for making your own investment decisions.</p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-27579412234930507342021-01-01T20:45:00.060+11:002021-01-10T12:15:14.643+11:00About ASX Money<p>Since I have started investing in stock market (specifically in ASX for now) in 2020, I think maybe it is good for me to document this investing journey. Documenting and reflecting my learning can perhaps help me grow faster in stock investment and at the same time it could be beneficial to you too hopefully. </p><p><br /></p><p><b>My Investment Style </b></p><p>First of all, I think I'm an investor, not a trader. I'm a long-term value investor based on solid company fundamental. I usually want to invest in the company where the price is currently under valued (i.e. below intrinsic value). I plan to hold the share for at least one year and sell when company fundamental is changed. I will also take partial profit when there is possible reversal trend and re-enter the market based on technical analysis.</p><p>This is the brief description of my investment style. Since this is the learning journey, my investment style may change in future.</p><p><br /></p><p><b>My Investment Goal</b></p><p>As for the start, I think my goal is to beat the market by 20%. Specifically the market here refer to S&P/ASX200 (XJO). If the market performs 10%, I would like my portfolio to perform at > 12%. It doesn't seem very challenging but I will revise my goal along the way.</p><p> </p><p>My blog is categorised into the following: </p><p></p><ul style="text-align: left;"><li><a href="https://asxmoney.blogspot.com/search/label/Fundamentals">Fundamentals</a> - Fundamental analysis topics</li><li><a href="https://asxmoney.blogspot.com/search/label/Technicals">Technicals</a> - Technical analysis topics</li><li><a href="https://asxmoney.blogspot.com/search/label/Economy">Economy</a>- Macroeconomic perspectives and trends </li><li><a href="https://asxmoney.blogspot.com/search/label/Portfolio">Portfolio</a> - My portfolio update </li></ul><div>For specify stocks and ETFs that you're interested, you can refer the "Stocks" and "ETFs" labels at the left panel of this blog.</div><div><br /></div><p></p><p><i>All information on this blog are not financial advice and should be used for educational purpose only to start doing your own research. Happy investing!</i></p>ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.com0tag:blogger.com,1999:blog-6283826603679381364.post-38803165565943498282021-01-01T15:38:00.001+11:002021-01-08T21:30:47.154+11:00Privacy Policy for ASXMoney.blogspot.com<p>If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at champdog@gmail.com.<br /><br />At ASXMoney.blogspot.com, the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by ASXMoney.blogspot.com and how it is used.<br /><br /><br /><b>Log Files</b></p><p>Like many other Web sites, ASXMoney.blogspot.com makes use of log files. 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