Saturday, July 04, 2009

iCapital: As Long As There Is Result, You Should NOT Question

The following comment is from Are My Comments On iCapital Overdone?

Factory said...

  • As an investor, what matters most to them is returns on investments.

    If TTB can outperform the market, who cares what mistakes he makes? Who cares whether he explains his decisions or not?

    Whether he is right or wrong, results show that it's better to put your money with him than to invest in mutual funds, unit trusts, KLSE etf and maybe yourself??

    Bottom line is Show Us The Moola!

    Do you prefer a fund manager who explains all his decisions to you yet lose money consistently or one who doesn't explain anything but makes money every year??

    But it's good to have ppl like you who discards the rose because of its thorns, so others can enjoy the beauty of the rose.

Well as long as you are happy, who am I to question you?

That's your views and I would be more than happy to accept it.

Serious. :)

It's your right of opinion.

But as long as iCapital.Biz is a public listed entity, I believe I have the right to POINT out all the mistakes he makes and as long as it is a public listed entity, it is ONLY correct that he address this issue by explaining to the shareholders and the investing public. By NOT doing so only reflects so poorly on the integrity of the fund and TTB himself.

And this is my flawed opinion and no matter how flawed it is, it's mine and it's my right of opinion.

Your last comments.

  • But it's good to have ppl like you who discards the rose because of its thorns, so others can enjoy the beauty of the rose.

LOL! Getting rather personal eh?

Why would you care what I think?

I am a nobody.

Unless of course you care because there is so much truth in what I have been addressing about iCapital.

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edit:

I was just thinking about it after posting. Let me share what I was thinking. Yeah if you do not agree, you could always drop your comments.

Anyway, is the end result all that matters?

For example how about our schooldays.

Some parents feel that results is all that matters in school. Get your As. Get your top of the school, get your top of the class finish. Then the parents are happy in regardless.

Yup, in regardless of what the kid does in school

In which, lies the other side of the coin. Is it important how the kid achieve the results?

Is it ok to have a kid who grows up getting all the results but behaves like a jerk?

Have we not seen this happen?

And isn't this the same with making money? Sorry for sounding naive but is making money the one and only objectivity in life?

For some it is.

But there are some who feels that there are more to life than making money.

Money does not buy happiness and happiness does not buy money either.

Cheers!

And many thanks for reading my mumbling.

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ps:

Ever wonder why there exist Quarterly Earnings and why there exist Annual Reports for public listed entities?

Don't they exist because they represent information for the shareholders and potential investors?

Or should public listed companies act like iCapital and insist that just because they make money, they do not have to explain anything to anyone?

Won't these reports makes no sense if these listed companies have just a sales and profit number?

6 comments:

Avatar said...

Let me just chip in why I disagree with 'Factory' and agree with Moolah.

Two words ...

"Bernie Madoff"

CP said...

I m not supporting anyone but OPINIONS.

I agreed that the bottom line is to PROFIT but to say we do not CARE how a fund INVEST in a particular investment and not bothering to question simply showing LACK OF UNDERSTANDINGS and EFFORTS on the investors side.

It shows too how un-educated our society is ... not questioning the rationale and being ignorant. Using a few more brain-cells wont kill you, you know.

So, if I claim that I m gaining 40% and please place your whole life-saving with me, will you care to know what I buy/sell? Isnt it a responsibility of an investor to KNOW where they put their money?

Yes, heard of Madoff? Or you will say you don't care who he is.

Sorry, I can't tahan those who simply say "I DON'T CARE".

TEH

Moolah said...

You see the issue of transparency and more so ACCOUNTABILITY is so important.

Does having a good track record gives one the EXEMPT card?

If so, think for a moment regarding the pool of EPF fund managers.

Can they use the WINNING TRACK record to exempt them from disclosing and explaining what they had invested in?

Or can Petronas say as long as they make money no one can question how they do it?

I am sure all of us knows what is RIGHT thing that needs to be done.

So why shouldn't TTB be subjected the same exact regulations to disclose and be transparent in all their investments?

ronnie said...

There are many incompetent fund managers in Malaysia who have lost tons of money for their clients. These are the fund managers who have to be weeded out. The competent ones are EPF, Public Mutual, Allianz and Pheim. The rest need to be audited and investigated.

Moolah said...

Ronnie,

Yes there are many rather below average fund managers but let's not divert from the simple issue is on iCapital.

It's a listed entity.

Which means TRANSPARENCY and ACCOUNTABILITY is a must.

Put it this way, if iCapital is not a listed entity, I would not even waste my webspace on this fund.

rgds

Moolah said...

Another food for thought.

Transparency in each buy and sell decision is rather important because the investors would want to know any conflict of interest that might exist.

Why am I saying this.

Flashback 2005.

http://whereiszemoola.blogspot.com/2005/12/mieco-part-ii-ze-buy-recommendation.html

Now this was an example where the fund was owning stake in the stock while the investment advisory was making a buy call on it at the same time!

That was before iCapital,Biz was listed.

And after the closed end fund was listed, it chose to buy Mieco!

Would one be wrong to question if there was a conflict of interest involved?

And now that iCapial is sitting on huge losses in its investment in Mieco, isn't this not an issue?

See recent posting:
http://whereiszemoola.blogspot.com/2009/06/icapital-is-now-holding-paper-loss-of.html