Are My Comments On iCapital Overdone?

Got this nice set of comments from Bean Chun Toi (Hmmm.. just a 'new' registered blogger. :D ) on an old posting Mieco Chipboard: VIII.

• I am not a fan of TTB but I think the writer's comments are bit overdone.
  
  I guess all fund managers make mistakes in their ivestment choices, some huge and small.
  
  Even W Buffet lost US1 billion in an oil stock last year.
  
  If, we you expect iCapital or TTB to make all the right investment, iCapital shares would have hit the roof at RM10 to RM20, and W Buffet's company shares would also reach sky high like Googgle shares.
  
  I guess all of them are human and will continue to make few poor investment from time to time.
  
  As long as more than 60% of their investment give reasonable returns, they are considered ok.

Hmm.... a bit overdone?

Could you be more precise?

Is it because I HIGHLIGHTED the fact that iCapital made such a huge loss in Axiata?

Here is a fact.

TTB claimed to be one of the top FIVE fund managers in the WORLD! He made that claim. Not me. ( here is the link to Star Biz article Up Close and Personal with Tan Teng Boo )

Just like Warren Buffett, you should realise that as long as TTB runs iCapital as a public listed entity, he and you should realise that iCapital is subject to both criticism and accolades. This is the parts and parcel for being a public listed entity. ( Try uncle Google and search for Buffett's criticism. I am sure you will find so many that you can even write a book or two. )

And have I really criticised TTB to be no good?

All I have done is question his reasoning on why he SOLD Axiata at such a huge lost. Do you know what was his exact reasoning to SELL? Sorry I do not and since iCapital's quarterly earnings did not even show any respect to the investing public by disclosing his reasoning why he sold, I do feel I have the right to address the issue by raising the question why.

Some even say wait until his next AGM or annual report.

LOL!

I find it simply ludicrous.

And in regarding to the comments made on Mieco Chipboard in today's posting, iCapital Is Now Holding A 'Paper' Loss of Over 76.5% In Its Investment In Mieco Chipboard!

Are those not facts I had posted?

Were those not legitimate questions I am raising?

Am I blasting and bashing TTB for no reason?

Are the comments a bit overdone?

If you do think so, then it's your right of opinion. Yes, you are entitled to your opinion. I have no problems, except that I think it's only fair to me that you give proper reasoning why my comments are a bit overdone.

Is it wrong to question why?

Put it this way, you see, TTB claims to be one of the TOP FIVE FUND MANAGERS IN THE WORLD ( here is the link to Star Biz article Up Close and Personal with Tan Teng Boo ), now assuming that I am interested in investing in his funds, what do you think I should do?

1. Don't you think I learn more of the person managing the fund? His integrity would be an issue, yes?

2. Don't you think I should know more of his style of investing?

Point 2. He claims to be a VALUE INVESTOR. Yes? Am I correct? And this is where iCapital's investment in Mieco Chipboard stood out very sorely.

Perhaps I am flawed but as explained in this morning's posting, iCapital Is Now Holding A 'Paper' Loss of Over 76.5% In Its Investment In Mieco Chipboard!, I really could not see the reasoning to justify Mieco as a VALUE INVESTING stock pick. When iCapital.Biz doubled their investment in this stock, Mieco was trading at a PE multiple of 41x (unless my calcutations is flawed as usual). Me? I just cannot comprehend. Sorry.

ps: in the posting iCapital Lost 14 Million In Axiata Without Explaining Why, I made the following remarks in the comments section to blogger Avatar.

• The lact of respect from the fund manger by NOT explaning what has happened with their huge loss in Axiata is utterly shocking.
  
  It is not acceptable at all.
  
  A fund manager is there to manage the investors money. Less the fund manager forgets that it is because of the investors the fund exist. No fund investor means no business.
  
  The investors is their customers.
  
  Person like me, who ask all these questions, could also be a customer.
  
  Hence, it's paramount that the fund manger of this closed fund explains what had happened.
  
  This is business 101.
  
  Which is why I find that it's so unacceptable by not even attempting to explain their reason why they sold Axiata at a huge loss.
  
  Well if they had made an investing mistake, no problem yes?
  
  Everyone makes mistakes.
  
  The very least iCapital can do is OWN up to this mistake and explain to the shareholders of this fund what exactly has happened.

You see, I understand everyone makes mistakes. I make mine all the time but I always try to own up to my mistakes and more importantly, I always attempt to correct my mistake.

So if iCapital made the investing mistakes in stocks like Axiata and Mieco, hey it's no problem isn't it? Just explain it to the investing public. Is this too difficult a thing for TTB to do?

Anyway, if you think my comments are overdone on iCapital on these issues, please do drop me a line. (ps. try not to register a new blogger nick just to reply to me lah. No need for such stuff. :D)