tag:blogger.com,1999:blog-28395305427671737882011-12-05T10:24:21.694-05:00Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.comBlogger5321100tag:blogger.com,1999:blog-2839530542767173788.post-53972579833023513052011-12-05T10:23:00.000-05:002011-12-05T10:24:21.706-05:00

YTD PerformanceBilibala Finance (10.8%) to (7.5%)Equity (16.0%) to (12.6%)Derivative 35.4% to 37.9%USA (3.3%) to (1.1%)Canada (11.5%) to (10.2%)UK (9.1%) to (5.9%)Hong Kong (19.7%) to (17.3%)China (14.0%) to (15.9%)Bilibala Finance reported YTD losses of (7.5%) mainly due to 2 of its top holding - China Life down by (34.0%) and Manulife down by (34.7%) partial offset with 42.1% net realized gains

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-25769932749220444902011-04-04T10:45:00.003-04:002011-04-04T10:49:02.202-04:00

Return % Comparison as of 03/31/11: (YTD, vs peak, 6 yr average) Bilibala 0.9%, 1.0%, 21.1%USA up 5.4%, (15.9%), 1.4%Canada up 5.0%, (6.9%), 7.0%HKG up 2.1, (26.4%), 8.4%China down 4.3%, (52.2%), 14.4% Top 5 holdings by sectors:Insurance 26.6% Banking 16.3%Telecom 15.6%Information Technology 10.0%Energy 9.2%

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com2tag:blogger.com,1999:blog-2839530542767173788.post-36346733065267394652011-04-04T10:42:00.002-04:002011-04-04T10:45:18.989-04:00

America (52.6% of asset mix) (with net present value in 1 year) 1. Manulife Financial (MFC) CA$31.4 STRONG BUY 2. Google Inc. (GOOG) US$754.6 BUY 3. Wells Fargo Financial (WFC) US$43.8 STRONG BUY 4. General Electric (GE) US$23.5 => US$25.2 HOLD => BUY 5. TD Bank (TD) CA$92.3 HOLD 6. American Express (AXP) US$48.6 HOLD (pending to update) 7. Suncor Energy (SU) CA$50.0 BUY (pending to update) · Mar

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-35918835044160332092011-04-04T10:38:00.001-04:002011-04-04T10:42:29.478-04:00

Asia / Europe (47.4% of asset mix) (with net present value in 1 year) 1. China Mobile (0941/CHL) HK$101.2 STRONG BUY 2. China Life (2628/LFC) HK$41.5 STRONG BUY 3. China Construction Bank (0939) HK$9.0 => HK$9.1 BUY 4. Total SA (TOT) US$61.6 HOLD 5. Siu On Land (0272) HK$6.7 => HK$6.5 STRONG BUY 6. HSBC Holding (0005/HBC) US$67.3 => US$63.3 BUY 7. IFSE A50 China Fund (2823) HK$22.4 STRONG BUY ·

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-55151994202030731162011-03-28T11:13:00.000-04:002011-03-28T11:14:04.086-04:00

Return % Comparison as of 03/24/11: (2010 YTD, vs peak, 6 yr average) · Bilibala (0.8%), (1.2%), 20.8% · USA up 4.1%, (16.9%), 1.2% · Canada up 4.4%, (7.4%), 6.9% · HKG up (0.5%), (28.3%), 7.9% · China down 4.9%, (51.9%), 14.5% Recover a lot slower than the market, because 2 of Bilibala’s top holding China Mobile & China Life are still deep under water, as their earning release has no surprise to

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-40397111960251565862011-03-28T11:10:00.000-04:002011-03-28T11:12:03.908-04:00

America (53.6% of asset mix) (with net present value in 1 year) 1. Manulife Financial (MFC) CA$31.4 STRONG BUY 2. Google Inc. (GOOG) US$754.6 BUY 3. Wells Fargo Financial (WFC) US$43.8 STRONG BUY 4. General Electric (GE) US$23.5 HOLD 5. TD Bank (TD) CA$92.3 HOLD 6. American Express (AXP) US$48.6 HOLD (pending to update) 7. Suncor Energy (SU) CA$50.0 BUY · Mar 11 major transactions: switch

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com1tag:blogger.com,1999:blog-2839530542767173788.post-42327170482984016082011-03-28T11:09:00.000-04:002011-03-28T11:10:47.079-04:00

Bilibala Finance’s 7 Top Holding by Region: (with net present value in 1 year) Asia / Europe (46.4% of asset mix) 1. China Mobile (0941/CHL) HK$101.2 STRONG BUY 2. China Life (2628/LFC) HK$43.3 => HK$41.5 STRONG BUY 3. China Construction Bank (0939) HK$9.0 BUY 4. Total SA (TOT) US$61.6 HOLD 5. Siu On Land (0272) HK$6.7 STRONG BUY (pending to update) 6. HSBC Holding (0005/HBC) US$67.3 BUY (pending

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-20638430776739512552011-03-21T14:18:00.001-04:002011-03-21T14:18:57.447-04:00

Return % Comparison as of 03/17/11:(2010 YTD, vs peak, 6 yr average)· Bilibala (3.1%), (4.1%), 20.3%· USA up 1.7%, (18.8%), 0.9%· Canada up 2.6%, (10.0%), 6.6%· HKG up (3.2%), (30.2%), 7.5%· China down 3.6%, (52.5%), 14.2%ð Bilibala portfolio took the hit in Mar 11 as four of its top holding fall mainly trigger by the Japan earthquake - China Mobile (4.8%)

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-65698066831338275752011-03-21T14:16:00.000-04:002011-03-21T14:17:16.424-04:00

Bilibala Finance’s 7 Top Holding by Region:(with net present value in 1 year)(53.7% of asset mix)1. Manulife Financial (MFC) CA$31.4 STRONG BUY2. Google Inc. (GOOG) US$754.6 BUY3. Wells Fargo Financial (WFC) US$43.8 STRONG BUY4. General Electric (GE) US$23.5 HOLD5. TD Bank (TD) CA$92.3 HOLD6. American Express (AXP) US$48.6 HOLD (pending to update)7.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-10651124565439231542011-03-21T14:14:00.001-04:002011-03-21T14:17:57.564-04:00

Bilibala Finance’s 7 Top Holding by Region:(with net present value in 1 year)(46.3% of asset mix)1. China Mobile (0941/CHL) HK$96.4 => HK$101.2 STRONG BUY2. China Life (2628/LFC) HK$43.3 STRONG BUY3. China Construction Bank (0939) HK$9.0 BUY4. Total SA (TOT) US$61.6 HOLD5. Siu On Land (0272) HK$6.7 STRONG BUY6. HSBC Holding (0005/HBC) US$67.3 BUY (pending to update)7. IFSE A50 China Fund (2823)

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-24603794683020892772011-03-17T10:04:00.001-04:002011-03-17T10:06:16.505-04:00

I try not to analysis for terrible events, cuz I think in certain degree that is unethical.I changed my mind, read details from the following link:http://bilibala-life.blogspot.com/2011/03/blog-post_16.htmlOk, how’s the earthquake impact Manulife? & is Act of God need to pay claim?SummaryTo me, it is over-react just like what most ppl do in history when bad news happen.Life insurance need to pay

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com2tag:blogger.com,1999:blog-2839530542767173788.post-31968855703882905842011-03-16T10:06:00.000-04:002011-03-17T10:15:15.821-04:00

每逢遇上天災人禍, 做分析都變得有點監介, 怕被人指指點點, 說要發災難財, 就連自己也不自覺地為自己的滿身銅臭感到內疚.前 3日為日本地震/核危機, 雲南地震, 以及中東局勢祈禱, 和主耶穌討論當今局勢. 主給了 Billy & Bilibala 好好提醒:「你為何因為分析感到內疚?」Bilibala:「因為遇上天災人禍嘛!」主:「你是分析人, 在什么情况下, 做好分析是你的職份. 在平日是, 在艱難的日子更需要. 不是為了冷手執熱煎堆, 乃是為了讓人明白當今時勢和明天仍有盼望與否. 經濟金融分析不是牧師的專長, 不說財經演員, 時事評論/金融分析員不懂聖經. 要有兩套本事才可做好你的職份, 懂嗎?」就這樣, Billy & Bilibala 就重返岡位, 繼續如常分析, 就如每一天一樣.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-26210811369452240472011-03-14T10:30:00.000-04:002011-03-14T10:31:34.225-04:00

Return % Comparison as of 03/10/11:(2010 YTD, vs peak, 6 yr average)· Bilibala up 1.3%, 1.7%, 21.2%· USA up 3.0%, (17.8%), 1.1%· Canada up 1.4%, (10.0%), 6.4%· HKG up 2.5%, (26.1%), 8.4%· China down 5.3%, (51.7%), 14.5%

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-87802836325742529162011-03-14T10:28:00.001-04:002011-03-14T10:30:52.933-04:00

Bilibala Finance’s 5 Top Holding by Region:(with net present value in 1 year)American1. Manulife Financial (MFC) CA$31.4 STRONG BUY2. Google Inc. (GOOG) US$745.1 => US$754.6 BUY3. Wells Fargo Financial (WFC) US$43.8 STRONG BUY4. General Electric (GE) US$23.5 HOLD5. TD Bank (TD) CA$92.3 HOLD6. American Express (AXP) US$48.6 HOLD (pending to update)7.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-78793194769704717752011-03-14T10:26:00.000-04:002011-03-14T10:28:55.011-04:00

Bilibala Finance’s 5 Top Holding by Region:(with net present value in 1 year)Asia / Europe1. China Mobile (0941/CHL) HK$96.4 STRONG BUY2. China Life (2628/LFC) HK$43.3 STRONG BUY3. China Construction Bank (0939) HK$9.0 BUY4. Total SA (TOT) US$61.6 HOLD5. Siu On Land (0272) HK$6.7 STRONG BUY6. HSBC Holding (0005/HBC) US$67.3 BUY (pending to update)7. IFSE

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-83270699060686894742011-03-07T11:09:00.000-05:002011-03-07T11:10:20.242-05:00

Return % Comparison as of 03/04/11:(2010 YTD, vs peak, 6 yr average)· Bilibala up 2.8%, 3.6%, 21.5%· USA up 5.0%, (16.2%), 1.4%· Canada up 6.0%, (6.0%), 7.2%· HKG up 1.6%, (26.8%), 8.3%· China down 4.8%, (52.0%), 14.4%

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-33804163826155480152011-03-07T11:08:00.000-05:002011-03-07T11:09:36.383-05:00

1. Manulife Financial (MFC) CA$31.4 STRONG BUY2. Google Inc. (GOOG) US$745.1 BUY3. Wells Fargo Financial (WFC) US$41.1 => US$43.8 STRONG BUY4. General Electric (GE) US$19.7 => US$23.5 HOLD5. TD Bank (TD) CA$83.8 => CA$92.3 HOLD6. American Express (AXP) US$48.6 HOLD7. Imperial Oil (IMO) CA$47.8 HOLD· Mar 11 major transactions: add Berkshire

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-52955146793413615812011-03-07T11:07:00.000-05:002011-03-07T11:08:40.839-05:00

Bilibala Finance’s 5 Top Holding by Region:(with net present value @ 2010)Asia / Europe1. China Mobile (0941/CHL) HK$96.4 STRONG BUY2. China Life (2628/LFC) HK$43.3 STRONG BUY3. China Construction Bank (0939) HK$9.0 BUY4. Total SA (TOT) US$61.6 HOLD5. Siu On Land (0272) HK$6.7 STRONG BUY6. HSBC Holding (0005/HBC) US$67.3 BUY7. IFSE A50 China Fund (2823)

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-46277828459479331532011-03-02T13:46:00.000-05:002011-03-02T13:47:28.610-05:00

Asia / Europe1. China Mobile (0941/CHL) HK$96.4 STRONG BUY2. China Life (2628/LFC) HK$43.3 STRONG BUY3. China Construction Bank (0939) HK$9.0 BUY4. Total SA (TOT) US$61.6 HOLD5. Siu On Land (0272) HK$6.7 STRONG BUY· Hong Kong & China stock market continue to get pressure thanks to China government’s macroeconomic alignment. And as the Middle East Revolution

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-50649046156735738082011-03-02T12:47:00.000-05:002011-03-02T13:46:19.358-05:00

· Why oil price up will not directly trigger the oil companies share price go up?· Because oil company net present value is calculated based on the 5 years average future oil price (2012-2017) multiple by total oil reserve of the company minus production cost of each oil field and then add the refinery margin multiple # of bbl for refinery.· As you can see, current oil

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-46652648758288224262011-01-26T19:10:00.002-05:002011-01-26T19:14:11.824-05:00

Bilibala: it is hard to tell the future, but i wish Eric will stay with Google and help it to grow even bigger.http://www.reuters.com/article/idUSTRE70O2TE20110125?feedType=nl&feedName=ustechnology (Reuters) - Google's Chief Executive Eric Schmidt said he expected to spend another 10 years at the company, after his surprise handover last week to co-founder Larry Page.Schmidt, who from April will

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-88537974535741824092011-01-25T15:57:00.003-05:002011-01-25T16:12:02.320-05:00

Bilibala: I think the management resturcture is more like an annoucement to help the shareholders to have a clear understand about Google's senior management team's role & responsiblities. 4q10 results looks great even assume FX rate are constant.http://www.reuters.com/article/idUSTRE70I0BX20110121?feedType=nl&feedName=usmorningdigestGoogle's Page brings change and questionsReuters) - Larry Page

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-40742432613964318922011-01-19T10:02:00.001-05:002011-01-21T12:59:02.520-05:00

Bilibala: 4q10 EPS $0.61 sightly off than what I expected $0.63. Mainly because its net interest income $11.1B looks flat compare to 3q10. While loan provision down further by 14% to 3.0B, its non interest expenses also move up to 13.3B or 8%. Excluded the 0.4B of the expense related to a 3 years charible donation, expenses up 5%, still higher than expected.To Bilibala, i think Wells Fargos price

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-40448316241457649102011-01-18T11:13:00.002-05:002011-01-18T11:20:34.987-05:00

Bilibala: Disney park in France are still in loss position, to me, it is challenging for HKG Disney to break even. However, with all other Disney products & services such as Studio & consumer products, I think porfit or loss is not a concern, at least not for Disney's shareholders.On the other hand, for HKG government, haha, they should know what they investing before invested. They are not

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-46997356328750766842011-01-17T11:20:00.002-05:002011-01-18T11:26:11.649-05:00

Bilibala: a Corporation won't fall cuz of a person, there are many employees quit from Mircosoft, Mircosoft is still here; there are many employees quit from Google, Google is still growing. What about Apple without Steve Jobs? Apple will not fall, however, will it continue growing with new creative, innovative, customer beloved minds & products which in return with high gross margin & huge

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-4194496503046524322011-01-14T10:55:00.003-05:002011-01-14T11:27:32.541-05:00

Bilibala: I haven't read through JP Morgan's financial release yet, but improvement in bank performance to me is kind of expected, that's why the stock price do not have a big jump after the news.With QE2.0 the issue is not lack of cash, but too many funding with no where to invest: T-bill earning almost zero? lead out to ppl who are not credit worthy? invest in commodities? or what?http://

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-18131932556597239202011-01-13T10:49:00.003-05:002011-01-14T10:55:18.576-05:00

Bilibala: u may lost a lot if u invest with a bad advisor or a poor investment vehicle, and through Madoff, I learn another lesson: u may lost everything if the advisor's performance is too good to be true.Aviod too good to be true, even it is really attactive.http://www.reuters.com/article/idUSTRE70C4SG20110113?feedType=nl&feedName=usdai(Reuters) - A U.S. judge approved a $7.2 billion settlement

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-2637971371958276852011-01-11T12:23:00.002-05:002011-01-12T12:28:22.719-05:00

Bilibala: i can see a tipping point since mid last year as everyone convert their old cell phone to smart phone. I personally convert mine in Jul last year too and i really have a PC everywhere experience. As users increase there data usage, it should benefit the wireless providers, the phone/tablet manufactures and interest search / gaming / advertising corporation.http://www.reuters.com/article

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-42328348456821026262011-01-06T18:43:00.002-05:002011-01-06T19:26:43.639-05:00

Bilibala: Facebook is a great social network site, thx to it, i found all my primary & high school friends. In terms of an investment, will it be too high to price this company at $50B?The answer is unknown. The issue rely on whether Facebook can generate enough sales growth & able to increase profit margin from almost zero to say 20%.During Google's IPO, it was priced at $52B while its revenue

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-88749867508433574432011-01-06T10:40:00.003-05:002011-01-06T17:19:39.175-05:00

Bilibala: Apple 1st, then Google & Samsung was in, follow by RIM, Dell & Toshiba. I think the market is big enough to have healthy competition & everyone can make some profit out of it.As a consumer, I can have a laptop & a tablet, there is no conflict between the two because it fit for 2 different purposes - laptop serves @ at home or at office, tablet serves on the way.http://www.reuters.com/

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-53916645572675222222010-12-30T17:10:00.004-05:002010-12-30T17:31:13.911-05:00

Bilibala: it is interesting to know who the top ranking of the most visited website in USA (from Jan to Nov 2010). Google + related 9.9%Facebook 8.9%Yahoo + related 8.1%It is more interesting to know how much revenues & profit that those companies generated by those visit (9M 2010):Google $20.8B & $6.0BYahoo $4.8B & $0.6BFacebook $1.5B & $0.0B (esitmated) There is a huge different on whether you

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-71208515683549110572010-12-30T10:25:00.002-05:002010-12-30T10:32:45.299-05:00

http://www.reuters.com/article/idUSTRE6BM24V20101230?feedType=nl&feedName=ustopnewsearly(Reuters) - New claims for unemployment benefits dropped more than expected last week to their lowest level in more than two years, suggesting the labor market recovery was gaining strength.Initial claims for state unemployment benefits fell 34,000 to a seasonally adjusted 388,000, the lowest reading since

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-45708285769853618002010-12-23T13:01:00.000-05:002010-12-31T13:01:40.993-05:00

According to Warren Buffett, investors should focus on investing $$$ in corporations that has a strong economic moat. In other word, it can generate get more sales and earn higher profit compare to peers because of what they are.1. With moat vs without moat - Intel vs AMD2. Google vs Yahoo

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-69491118295765973392010-12-23T13:00:00.000-05:002010-12-31T13:00:50.248-05:00

1. Manulife Financial (MFC) CA$31.38 STRONG BUY2. TD Bank (TD) CA$82.19 => CA$83.84 HOLD3. Imperial Oil (IMO) CA$47.82 BUY4. Shoppers Drug Mart (SC) CA$ 42.7 HOLD5. TransCanada (TRP) CA$41.10 HOLDTD Bank to buy Chrysler Financial for US$6.3B, the auto leaders with 1 million customers, net assets of US$5.9B by its internal funds (existing shareholders not being

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-31308492671270608962010-12-23T12:58:00.000-05:002010-12-31T13:00:03.595-05:00

1. Google Inc. (GOOG) US$745.1 BUY2. Wells Fargo Financial (WFC) US$41.1 STRONG BUY3. General Electric (GE) US$19.7 BUY => HOLD4. American Express (AXP) US$48.6 HOLD5. Walt’s Disney (DIS) US$36.99 HOLDAmerican Express share price down recently from US$46.5 to US$41.0 (climb back a bit) on the worry USA government will be more restricted in credit card service charges

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-90733848207641632452010-12-23T12:56:00.001-05:002010-12-31T12:58:22.281-05:00

1. China Mobile (0941/CHL) HK$96.4 BUY2. China Life (2628/LFC) HK$41.1=> HK$43.34 BUY => STRONG BUY3. China Construction Bank (0939) HK$8.97 BUY4. Total SA (TOT) US$61.64 BUY5. Siu On Land (0272) HK$7.4=>HK$6.73 STRONG BUYChina Life Share price fall mainly due to China stock market, however, premium up 19% in 2010, market shares kept at around 40%, new business

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-28012247169222501512010-12-10T13:02:00.000-05:002010-12-31T13:02:46.018-05:00

The corporations u invest in has names, please stop calling just its symbol, show some respect and call their name, because you are investing in business, you are not gambling.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-1660890179662667642010-12-10T12:56:00.000-05:002010-12-31T12:56:51.106-05:00

1. Manulife Financial (MFC) CA$31.38 STRONG BUY2. TD Bank (TD) CA$82.2 HOLD3. Imperial Oil (IMO) CA$45.2 => CA$47.82 BUY4. Shoppers Drug Mart (SC) CA$ 42.7 HOLD5. TransCanada (TRP) CA$41.10 HOLDI finally completed my analysis on Imperial Oil. Based on its estimated 2011 oil & gas proven reserve & 2011-2015 average oil price of US$95 per bbl with a production cost of

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-81473286430208048352010-12-10T12:55:00.000-05:002010-12-31T12:56:05.794-05:00

1. Google Inc. (GOOG) US$745.1 BUY2. Wells Fargo Financial (WFC) US$41.1 STRONG BUY3. General Electric (GE) US$19.7 BUY4. American Express (AXP) US$48.6 HOLD5. Walt’s Disney (DIS) US$36.99 HOLDGovernment decided to extend the tax cut policy for another 2 years, positive impact to retail & credit marketInitial jobless claim fall to 421k this week, looks like the trend

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-57015625282607470412010-12-10T12:53:00.000-05:002010-12-31T12:55:02.003-05:00

Asia / Europe1. China Mobile (0941/CHL) HK$96.4 BUY2. China Life (2628/LFC) HK$41.1 BUY3. China Construction Bank (0939) HK$8.97 BUY4. Total SA (TOT) US$61.64 BUY5. Siu On Land (0272) HK$7.4 STRONG BUYPotential government intervention on real estate market and credit market makes the equity market looks flat compare to North America. On the other hand, I think those

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-4537346847648275082010-12-02T13:01:00.000-05:002010-12-31T13:02:19.431-05:00

Only invest on business u know & have confidence on, it will help u stay with ur investment until the actual “harvest” period arrived

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-5288140596522990502010-12-02T11:35:00.000-05:002010-12-31T11:36:58.081-05:00

1. Manulife Financial (MFC) CA$31.38 STRONG BUY2. TD Bank (TD) CA$82.2 BUY => HOLD3. Imperial Oil (IMO) CA$45.2 BUY4. Shoppers Drug Mart (SC) CA$ 42.7 HOLD5. TransCanada (TRP) CA$39.45 => CA$41.10 HOLDLast week, Ontario government propose the long term energy plan (LTEP), outlines the plan for Ontario power & transmission system for the next 20 years. Given the fact

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-30793727351874834782010-12-02T11:34:00.001-05:002010-12-31T11:35:50.827-05:00

USA1. Google Inc. (GOOG) US$745.1 BUY2. Wells Fargo Financial (WFC) US$41.1 STRONG BUY3. General Electric (GE) US$19.7 BUY4. American Express (AXP) US$48.6 HOLD5. Walt’s Disney (DIS) US$36.99 HOLDGoogle’s price fall $30 this week because Europe is investigating whether its searching engine has anti-trust issue. Currently, with 80% market share in Europe, Google for

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-71029203301302598022010-12-02T11:32:00.001-05:002010-12-31T11:34:32.238-05:00

1. China Mobile (0941/CHL) HK$96.4 BUY2. China Life (2628/LFC) HK$41.1 BUY3. China Construction Bank (0939) HK$8.97 BUY4. Total SA (TOT) US$61.64 HOLD => BUY5. Shiu On Land (0272) HK$7.4 STRONG BUYIrish finally got its $$ and the next bond maturity bubble in Europe is Spain & Portugal. Wall street analysts make it sounds like a crisis. In fact, those are simply

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-27696287746078214292010-11-22T18:52:00.000-05:002010-12-31T12:53:23.156-05:00

1. Manulife Financial (MFC) CA$31.38 STRONG BUY2. TD Bank (TD) CA$82.2 BUY3. Imperial Oil (IMO) CA$45.2 BUY4. Shoppers Drug Mart (SC) CA$ 42.7 HOLD5. TransCanada (TRP) CA$39.45 HOLDI am reviewing Imperial Oil’s 3q result, will share about it next time.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-35545773801377266922010-11-22T17:33:00.001-05:002010-12-30T17:35:54.339-05:00

1. Google Inc. (GOOG) US$745.1 BUY2. Wells Fargo Financial (WFC) US$41.1 STRONG BUY3. General Electric (GE) US$19.7 BUY4. American Express (AXP) US$48.6 HOLD5. Walt’s Disney (DIS) US$36.99 HOLDIrish financial crisis: Investors over-react the impact: 1) Irish’s fund shortage is due to broken of real estate bubble & creating mortgage bad debt in many Irish banks. So

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-86106510146811217522010-11-22T17:32:00.001-05:002010-12-30T17:36:32.597-05:00

1. China Mobile (0941/CHL) HK$96.4 BUY2. China Life (2628/LFC) HK$41.1 BUY3. China Construction Bank (0939) HK$8.97 BUY4. Total SA (TOT) US$61.64 HOLD5. Shiu On Land (0272) HK$7.4 STRONG BUYChina increased bank reserve ratio by 50 bps to 18.5%, historical highest & reduce next year’s borrowing target for big 4 banks, which will reduce R$350B credit flow in market. These are some softer policies

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-29965921125446055752010-11-16T17:31:00.000-05:002010-12-30T17:32:23.966-05:00

1. Manulife Financial (MFC)2. TD Bank (TD)3. Imperial Oil (IMO)4. Shoppers Drug Mart (SC)5. Trans Canada Pipeline (TRP)Shoppers’ Drug Mart: during the “silent period” of Bilibala Finance, I bought back Shoppers’ Drug Mart at $35.0 because I think the regulation change in prescription drug has fully reflected in the share price.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-21038019607357144212010-11-16T17:28:00.000-05:002010-12-30T17:29:26.601-05:00

1. Google Inc. (GOOG)2. Wells Fargo Financial (WFC)3. General Electric (GE)4. American Express (AXP)5. Walt’s Disney (DIS)Walt’s Disney: after I sold Exxon Mobil, Walt’s Disney became Bilibala’s 5th top holding in USA. It reports 4q results according to Bilibala’s expectation (little lower than wall street). Its2010 EPS up 13.4% to $2.54m thx to the significant

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-50199431848629085242010-11-16T17:26:00.002-05:002010-12-30T17:30:34.496-05:00

1. China Mobile (0941/CHL)2. China Life (2628/LFC)3. China Construction Bank (0939)4. Total SA (TOT)5. Shiu On Land (0272)Market Fall: global stock market fall because of the following worries:Slow economy growth (every once a while, such worry came back)Inflation risk (will it come? No & Yes!! No, cuz consumer product index keep at around 2.0% and even in China, it is only 4.9%; Yes, commodity

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-33826850501961258522010-11-09T10:43:00.001-05:002010-12-30T10:45:52.806-05:00

1. Manulife Financial (MFC)2. TD Bank (TD)3. Imperial Oil (IMO)4. Shoppers Drug Mart (SC)5. Trans Canada Pipeline (TRP)C$ is at par, but I don’t think it will rise further beyond $1.02, as overnight interest rate will most likely keep at 1.0% and the higher the C$ will hurt international trade between US & Canada;Wewill have the Shoppers Drug Mart’s 3q10 result this

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-50404174246990730712010-11-09T10:42:00.000-05:002010-12-30T10:43:50.009-05:00

1. Google Inc. (GOOG)2. Wells Fargo Financial (WFC)3. Exxon Mobil (XOM)4. General Electric (GE)5. American Express (AXP)These days, after I moved to my new home, I did lots of home renovation: major appliances, lighting, windows, kitchen, wall, water system, flooring, gardening etc etc…… I think as house market become more stable now, those companies’ performance will improve. Based on my

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-26718924048391193082010-11-09T07:48:00.000-05:002010-12-30T17:30:10.672-05:00

1. China Mobile (0941/CHL)2. China Life (2628/LFC)3. China Construction Bank (0939)4. Shiu On Land (0272)5. HSBC (0005/HBC)China Mobile: 3q10 revenue up 7.8% vs 3q09; earnings up 3.9%, ARPU down 4% to $72, # of customers up 11% to 569M. China Mobile still hold its dominate position in China’s telecommunication industry has 70.5% market share. However, growth definitely slow down from double digit

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-34849017435872296922010-11-01T10:38:00.001-04:002010-12-30T10:42:15.282-05:00

1. Manulife Financial (MFC)2. TD Bank (TD)3. Imperial Oil (IMO)4. Shoppers Drug Mart (SC)5. Trans Canada Pipeline (TRP)Imperial Oil & Manulife Financial will release its 3q10 results this week.Bilibala will sold BYD Ltd. & invest more Manulife Financial today.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-41975603593337160512010-11-01T10:37:00.002-04:002010-12-30T10:47:08.957-05:00

1. Google Inc. (GOOG)2. Wells Fargo Financial (WFC)3. Exxon Mobil (XOM)4. General Electric (GE)5. American Express (AXP)Exxon Mobil net income up 55% mainly thx to oil price rise (bad for all drivers) and refinery margin increased, oil supply & demand kind of reach an equilibrium point, on the other hand, as USA, UK & Japan’s QE2.0 (print more $$) project, oil price should rise back to US$100 per

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-20014082940068687472010-11-01T10:33:00.005-04:002010-12-30T10:50:27.650-05:00

1. China Mobile (0941/CHL)2. China Life (2628/LFC)3. China Construction Bank (0939)4. Shiu On Land (0272)5. HSBC (0005/HBC)China Life: premium up 23% vs 3q09, total assets up 4.0% vs 2q10 while equity up 7.7% vs 2q10, as Shang Hang A stock break through 3k pt & interest rate up 25 bps, I think China Life will continue to increase shareholders equity value in 4q10 and so on, regardless of how much

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-7039964622435503672010-04-08T10:39:00.002-04:002010-04-08T10:42:08.153-04:00

Bilibala: new rule will surely affect Shoppers Drug Mart's earning, on the other hand, as Canadian aging, the health expenses volume should continue to grow.http://www.reuters.com/article/idUSN0712523820100407?type=marketsNewsTORONTO, April 7 (Reuters) - Shoppers Drug Mart Corp (SC.TO) said on Wednesday it is reviewing government reforms to the way prescription drugs are priced in Ontario,

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com1tag:blogger.com,1999:blog-2839530542767173788.post-19423192965421894902010-04-06T17:29:00.003-04:002010-04-06T17:32:30.257-04:00

Bilibala: really good article about Google leaving China if not smart decision, at least it is not a bad idea. As what I mentioned before, reputation is extremely important. http://online.wsj.com/article/SB10001424052702303493904575167290011111402.html?mod=googlenews_wsj By MATTHEW FORNEY AND ARTHUR KROEBER Google's high-profile departure from China's search-engine market has burnished the

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-28960103355589369392010-04-06T14:00:00.000-04:002010-04-06T14:01:53.379-04:00

Question:hi Billy, why US$ drops crazily? is it good to exchange? thanks.Answer:I don’t think the US$ will drop further, may be 1.02 to 1 Can $ and I think 1 to 1 is a pretty good equilibrium point in long run until interest rate trend start rising (not rise, but a rising trend to form, it will take at least 1 to 1.5 year from today.) Then Can$ may rise a bit further to $1.1.You should convert at

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-53903815778128063482010-04-06T13:58:00.002-04:002010-04-06T14:00:51.893-04:00

Billy, how come RIM dropped from 78 to 67.90? is it good to buy? thanksRIM dropped cuz actual below expectation, even though they said they will have a strong outlook. (I haven’t reviewed its quarter end press release, and I won’t, cuz I don’t need to know)To me, it is good opportunity to buy if you believe on the following:Smart phone market will grow bigger from today’s 12% market share to 20-

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-26475862693472193062010-04-06T10:37:00.002-04:002010-04-06T10:51:10.276-04:00

Bilibala: I don't think China Construction Bank need cash, if the cash is merely try to fulfil the high capital requirement by the regulator, I hope it will have a better use of it. Or else, it is not a great decision for the existing shareholders.http://uk.reuters.com/article/idUKTOE63504620100406SHANGHAI, April 6 (Reuters) - China Construction Bank (CCB) (0939.HK) (601939.SS), the country's

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-3316269102500342692010-04-06T10:26:00.001-04:002010-04-06T10:28:23.911-04:00

Bilibala: insurance company face aging problem, on the other hand, aging will give opportunity for asset management, that's why Manulife keep acquire aum business in the world.http://www.benzinga.com/208438/manulife-buys-jv-in-china-analyst-blogPosted on 04/06/10 at 9:45am by ZacksLast week, Manulife Financial Corporation (MFC) completed the deal to buy Fortis Bank SA/NV's 49% ownership in ABN

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com1tag:blogger.com,1999:blog-2839530542767173788.post-47036298502892053072010-04-05T14:21:00.002-04:002010-04-05T14:29:33.986-04:00

Bilibala: pray that my company will not put my division on sales la.Posted on 04/05/10 at 1:30pm by ZacksKeeping pace with its ongoing restructuring program that began in 2009, Aegon NV (AEG) announced the sale of its funeral insurance business in Netherlands. Although the sale took place on Feb 1, 2010, it was announced on Friday. The company’s insurance unit has been disposed off to Egeria, a

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com1tag:blogger.com,1999:blog-2839530542767173788.post-71522548507004561342010-03-31T09:46:00.006-04:002010-04-01T16:05:11.331-04:00

Top 10 Holdings @ Mar 31, 10China Life Insurance 8.4% M/M (reduce) China Mobile Ltd (2.7%) M/M (add)Google Inc 7.7% M/M (reduce) Wells Fargo & Company 13.8% M/M (no change) China Consturction Bank Corp 8.5% M/M (add) Manulife Financial 3.9% M/M (add) Berkshire Hathaway Inc 1.6% M/M (no change) Imperial Oil Limited 0.8% M/M (no change) General Electric Company 13.3% M/M (no change) Intact

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-54138963519568524962010-03-11T00:11:00.000-05:002010-03-11T00:12:29.787-05:00

今日是股市創十二年新低後一周年記念日.一年前, 負責投資/創作以及管理資本帳的 Bilibala 和神開圓桌會議(聽証照肺會). 耹証的有:創天造地又在股市/債市/樓市作主作王的神/聖靈負責分析和管理經常帳的 Billy負責靈性關顧(In-spirit-or relation)和內在醫治的護士 Bilive (Billy 第三個較隱性的 character)旁聽者有:剛退休, 想投資又想置業的老佛爺多多鬼煮意, 一直認為投資 = 賭, Cash = King, 肥嘟嘟的小得第一回 求原諒 08年11月老佛爺:「那些投資 5年能否升回?」Bilibala :「不知道, 2-3年左右」小得:「10年都不可能回升, 人家一早(20,000點) 就沽清離場, 識進要識退嘛! Cash is King.」Bilibala 為單邊對沖虧損以及所投資一切企業的市價暴跌再次向神, 向 Billy &

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-3525139849270946582010-03-11T00:09:00.001-05:002010-03-11T00:10:52.557-05:00

Bilibala: as I said, regardless whether this is related to politic or not, it is a lot better than keeping cash.http://www.finet.hk/mainsite/newscenter/CNFINET/343328.html謠言終於止步。3月11日，中國移動(00941-HK)董事長王建宙約見記者，表示入股浦發銀行的交易已經得到雙方董事會批準，下一步需要得到股東的同意，等國家相關監管部門批準後將具體執行。同日，中移動公告稱，旗下全資子公司廣東移動以398億元人民幣認購浦發20%A股，中移動由此成為浦發銀行第二大股東。這是3月4日王建宙宣布此項交易後再度面對媒體。數日來該項交易被國資委否決的傳言不斷。這或許折射出市場各方對交易並不看好。人們最大的質疑是︰中移動是否不務正業，

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-89293568140374218962010-03-10T17:26:00.002-05:002010-03-10T17:31:58.702-05:00

http://www.stockhouse.com/News/FinancialNewsDetailFeeds.aspx?n=13216990&src=cpTORONTO - Brookfield Asset Management Inc. (TSX:BAM.A) announced a plan Wednesday to sell part of its stake in wood panel maker Norbord Inc. (TSX:NBD) in a secondary offering worth about $150 million.Brookfield said it will reduce its stake from 73 per cent to about 53 per cent after the sale of the shares.Norbord will

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-60909141439822664432010-03-10T17:16:00.001-05:002010-03-10T17:19:21.018-05:00

Bilibala: Good article. in order for China to be as mature as USA. I think at least take 20-30 years.在1890年前后，中国经济与美国经济曾经有过一次邂逅，各自的经济总量分别相当于当时全球经济总规模13%。不过，两个经济体此后的走向却截然相反：晚清时期的中国经济已经千疮百孔，支撑古厦的柱子早已腐朽，只等外力的最后一击；而美国作为19世纪下半叶蒸汽技术（火车、轮船）的最大得益者，其经济在交通革命之下蓬勃兴起，对内铁路联贯东西海岸，对外货品倾销欧洲市场，开始向挑战英国的全球霸主地位迈进。从地域政治上看，在经历了两次世界大战之后，美国才顺理成章地成为世界的盟主。不过，美国登上世界一哥宝座之路并不顺利。在上个世纪之初，其过度的信贷扩张、产能扩张，带来了近代史上罕见的1929年经济大萧条，GDP

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-47522646132318376132010-03-10T16:56:00.003-05:002010-03-10T16:59:54.750-05:00

Bilibala: good article, on the other hand, as long as China Mobile will focus on its telecommunication business alone, the deal is still healthy. It just diversify its investment away from cash, not diversify its business/operation.想饮牛奶，系咪需要买只牛？答案当然系 NO！所以笔者认为，想做手机银行业务(Mobile Banking)，又不一定需要入股，甚至买一间银行。现时它基本上已与多家内地银行合作拓展手机银行业务，故此，从表面资料推测，其入股内地银行，颇大机会是阿爷需要。翻查数据，浦发银行自 2003年 1月至今，已 4次进行「增发」股份的融资行动，

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-17318577579607180922010-03-10T14:55:00.000-05:002010-03-10T14:56:55.273-05:00

Bilibala: yeah!! McDonald's!! I'm loving it!!http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201003101021dowjonesdjonline000443&title=mcdonalds-us-sales-getting-boost-from-breakfastsnackingBy Paul Ziobro, Of DOW JONES NEWSWIRESNEW YORK -(Dow Jones)- McDonald's Corp.'s (MCD) domestic same-store sales are getting the biggest boost from breakfast and snacking items, helped by recent

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-74302642583758882932010-03-10T14:37:00.002-05:002010-03-10T14:39:53.346-05:00

Bilibala: the plan is great, 1st it is better use of its cash to invest in a bank instead of holding cash; then the demand on cell phone banking is in needed, according to China Mobile's CEO, this $5.8B investment will strengthen its 2010 sales by 2% which is a good start. http://www.businessweek.com/ap/financialnews/D9EBNKJ80.htmChina Mobile Ltd., the world's biggest phone company by subscribers

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-36208582246716249782010-03-10T14:31:00.002-05:002010-03-10T14:36:41.220-05:00

Bilibala: customrize app store is a great business to be in, but it works like a snow ball. The more app u had, more customers to d/l, more d/l, more programers willing to write more app. Can Google or Microsoft beat Apple? May not be, but sure each of them able to take a share from this growing pie.http://www.thestreet.com/story/10699822/1/google-apps-store-challenges-microsoft.html?cm_ven=

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-41445154111808689032010-03-08T14:39:00.002-05:002010-03-08T14:48:54.572-05:00

Bilibala: Disney is in a nice pace during the economy recovery. To me, the postor of "Alice in Wonderland" doesn't look cute, but I will definitly go and watch "The Ocean" and "Toy Story 3".http://www.forbes.com/feeds/ap/2010/03/08/business-mobile-telecommunications-us-disney-ahead-of-the-bell_7414936.htmlNEW YORK -- Analysts see "Alice in Wonderland" as a much-needed hit for The Walt Disney Co.,

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-23499173134738274832010-03-08T14:16:00.002-05:002010-03-08T14:23:20.538-05:00

Bilibala: AIG's brand name was totaly distoried during the financial crisis, I don't think is smart to acquire any of its subsidaries. Insurance is a competitive industry, there are almost no product differentiate at all other than the corporate brand value and its credit rating. Policyholders are willing to pay higher cost of insuruance for a famlious and reliable brand. Once its brand name

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-62077970119186899042010-03-08T10:18:00.002-05:002010-03-08T12:21:32.627-05:00

Bilibala: giant bank is better than small/mid bank even in China, a country where huge banks have much more social responsibity & political concern than the commerical banks. Sometimes, conservative can be a good character, a little lower return with much lesser risk.http://www.reuters.com/article/idUSTOE62703Q20100308Govt targets 19 pct loan growth for banking sector (Adds details, background)

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-59184911900958344262010-03-05T15:35:00.001-05:002010-03-05T16:01:02.960-05:00

周六晨早近 8點, 不是做懶訓豬, 而是 refresh 呀 refresh 在床邊的 laptop. 皆因今日(2/28)是股神巴菲特主理的公司 Berkshire Hathaway Inc(巴郡)派成績表和巴菲特出 chairperson's letter 的大日子. 已經和巴菲特作了三年* 伙伴(股神是這樣稱呼其小股東)的 Bilibala 自然要先睹為快.* Bilibala 當其 B股$4,900跌至 $2,300 時曾分了大半年手 :P還記得上年今日, 當所有人信心跌到谷底, 當所有數據同股/債市跌到似乎仍未見底的時侯. 神就借著巴郡的年報大大安慰了 Billy 和 Bilibala. Bilibala 在今年巴郡的年報又學習了不少:巴菲特對 book value 的理解: 巴菲特認為 book value 雖然無法完全反映甚至低估其內在價值, 但比起隱含市場心理,

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com2tag:blogger.com,1999:blog-2839530542767173788.post-27792633740300623002010-03-03T23:47:00.001-05:002010-03-03T23:48:59.627-05:00

Bilibala: Short term impact, should be a good opportunity to buy more. I think it is a better use of the extra cash China Mobile had財華社深圳新聞中心近日盛傳可能斥資400億元認購浦發銀行(600000-CN)約22億股定向增發股份的中國移動，股價今早初段逆市走弱，現跌2.28%至72.95港 元，成交826萬股。中國移動發布公告確認，已就入股浦發銀行的規模達成協議，將通過投資浦發銀行擴展移動電子商務業務；但將專注於開發增值服務。中國移 動同時表示不排除與其他銀行合作的可能性。有市場評論認為，中國移動開發移動電子商務業務是遠離主營業務的多元化做法，難以量化可能獲得的收益。長線投資者將中國移動作為公用事業類股，原因是3.7%的歷史股息收益率，

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-34558836375840278132010-03-03T08:24:00.002-05:002010-03-03T08:28:27.860-05:00

Bilibala: China Life's sales is growing in a nice double digit pace as the insurance penetration improved, on the other hand, I think the stock price has reflect this growth expectation. Therefore, the future rise will rely heavily on investment performance. http://www.chinavestor.com/life-insurance/71392-china-life-january-sales-up-14-percent-to-62-billion.htmlMarch 3, 2010 (Chinavestor) China

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-70617585060237547702010-03-02T18:31:00.000-05:002010-03-02T18:35:43.302-05:00

⊙记者 卢晓平 ○编辑 王颖他的儒雅睿智，早有耳闻。相识几年，更有深刻感受。　　在他北京金融街(10.95,0.16,1.48%)中国人寿(27.71,-0.19,-0.68%)大厦的27层办公室里，一幅刚劲有力的书法“观海听涛”透露出拥有者的眼界胸怀……　　他是位和蔼可亲的睿者，又是有着强烈社会责任感的企业家。他带领占据国内保险市场半壁江山的金融保险集团，成为我国保险行业唯一的“世界双500强”企业。　　他令全球市值最高寿险公司的中国人寿，积极应对金融危机，连续5年取得了骄人业绩。　　我们之间短信往来，我写的是中文，他回的是英文；我们谈论的话题，从金融到经济社会无所不包，一个有着丰富金融保险经历的他，在精炼话语中，无不透露出善于学习、与时俱进的修养。　　他的办公室，一个地球仪迎接着每日朝霞。　　全球视野防范风险　　有过10多年海外留学和工作经历的杨超，考虑问题时的全球视野已经形成习惯。

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-29360679489894703422010-03-02T18:29:00.000-05:002010-03-02T18:30:46.788-05:00

口述者：王宪章　　中国人寿保险(集团)公司原党委书记、总经理，现任中央财经大学保险学院院长。　　今年是中国人寿诞生60周年，中国人寿能够成功改制上市，并发展成为今天这样一个倍受瞩目的知名企业，与当时一位中央高层领导的关怀和支持是分不开的。这位领导就是时任国务院总理的朱镕基。朱镕基与中国人寿的事情，一直鲜为人知。　　我和镕基“抬杠”　　上世纪90年代初，朱镕基同志担任国务院常务副总理时，主管金融工作。当时，市场经济体制还没建立起来，金融保险领域的行政化色彩比较浓厚，一些政策文件的起草往往带有部门色彩，必然要经过一番激烈的争论。　　为了制定好政策，镕基同志经常召集专题座谈会，有一次国务院召开有关社会保障体制改革的会议，参加会议的有劳动部、民政部、财政部等政府部门的领导，我代表中国人民保险公司出席。在会上，一个主导意见是保险应由政府部门包办，我对此很不认同，当即发言：

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-22593715020950811492010-03-02T18:25:00.002-05:002010-03-02T18:28:14.137-05:00

Bilibala: I admit that China Mobile's 3G growth is slow and do not have the monoply position like it always does in 2G. On the other hand, I think all 3 corporations should have enough room to growth since the telecommunication market in China is huge enough for 3 to share the profits.中金公司 陈昊飞　　公司近况：　　中国移动(76.5,-0.80,-1.04%,经济通实时行情)2010年1月份净增用户511万（环比增加20.7%，同比减少23.3%）。TD用户达到390万，2010年1月份净增用户49万

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-30573130275300392282010-03-02T18:18:00.001-05:002010-03-02T18:24:22.577-05:00

Bilibala: wa, learn more about China Mobile, may be i should pay more attention and analysis on industry comparison.李健　　一周视野　　中国最大的电信运营商中国移动正遭受严格的监管。　　继2009年11月被定义为纵容手机“黄毒”泛滥的罪魁祸首，被扫黄后，2010年2月24日，有传言称中国移动又因为平均薪酬高于央企平均水平被国务院国有资产监督管理委员会要求降薪，并按照 “薪酬连降5年，每年递减10%”的原则执行。　　为什么会是中国移动？　　其实，中国移动或将被降薪在2010年1月9日就显现出端倪，当日上午国资委主任李荣融在出席第十一届北京大学光华新年论坛时就曾经表示，“对于央企高管年薪这个问题，说实话2010年的压力不小，但现在薪酬定得并不高，平均薪酬也就是60万元人民币左右

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-53726892694975665872010-03-01T17:58:00.002-05:002010-03-01T18:02:05.790-05:00

Bilibala: interesting sharing!! Analyzing makes a person healthy, but over excite/depress may make a person unhealthy, how can we have the 1st one without the latter one?from 譚紹興投資學堂日前在内地的报章，看到一名 99岁高龄的长者，其长寿秘诀想不到竟然是炒卖股票，真有点令人意外！据报道，此老翁自退休后便开始进入股市，当一名全职股民。在过去十多年，他每日也在早上 9时多便到证券行，一直坐至午后 3时收市才离开。可能基于这关系，他十年如一日地过着如此有规律的生活，人也自然较为健康。这老翁平日也极之留意股份之动态及消息，并作详细研究，因而不至闲来无所事事，其精神也较佳。据闻此老翁应该是湖南现时年龄最高的股民之一。

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-2063672526635539112010-03-01T17:18:00.002-05:002010-03-01T17:29:59.467-05:00

Bilibala: after reading Berkshire Hathaway's 100 pages annual report on the weekend and I've increased the fair value of class B share from US$117 to US$123. http://www.cnbc.com/id/35647669 http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0" >http://plus.cnbc.com/rssvideosearch/action/player/id/1428298651/code/cnbcplayershare"/>http://www.macromedia.com/go/

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-85969983754663024942010-03-01T12:00:00.002-05:002010-03-01T12:10:13.391-05:00

Bilibala: I like Coca Cola much more than Pepsi. But in terms of doing business & investment, I like Pepsi more than Coke. Pepsi is much more deversify (other than soda carbonated drinks, its juice, snack and healthy food business are much stronger than Coke), plus its management to me, act more proactively than Coke.http://www.reuters.com/article/idUSTRE62024U20100301?feedType=nl&feedName=

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-65314860407621096502010-03-01T11:33:00.002-05:002010-03-01T11:57:43.445-05:00

Bilibala comments: quite disappointed result, net interest income down, loss provision up, and deposit down. The only good is thx to its AOCI balance up, equity balance up 37% compare to last year. Further investigation is required to determine HSBC's updated fair value.Underlying performance significantly aheadUnderlying pre-tax profit up US$4.7 billion or 56 per cent to US$13.3 billion, after

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-24142035591586620012010-02-26T11:46:00.017-05:002010-03-31T09:55:10.090-04:00

Top 10 Holdings @ Feb 26, 10China Mobile Ltd 5.3% M/M (add)China Life Insurance 0.6% M/M (add)Google Inc (0.6%) M/M (add)Wells Fargo & Company (3.8%) M/M (add)China Consturction Bank Corp (2.0%) M/M (add)Manulife Financial (1.3%) M/M (add)Berkshire Hathaway Inc 4.7% M/M (no change)Imperial Oil Limited 1.2% M/M (add)General Electric Company (0.1%) M/M (no change)HSBC Holding Plc 2.6% M/M (no

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-8353410152570732502010-02-24T18:23:00.001-05:002010-02-24T18:25:32.230-05:00

Bilibala: expanding may rise sales but reduce profit margin. Also, it may rise debt, let's see how it goes.http://www.torontolife.com/daily/style/shop-talk/2010/02/24/shoppers-drug-mart-slowly-turning-into-the-urban-walmart/Shoppers Drug Mart, the ubiquitous drugstore that sells everything from frozen vegetables to cosmetics (oh, medicine, too), is further expanding its offerings to include

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-70085818308470761392010-02-23T18:02:00.000-05:002010-02-23T18:04:08.347-05:00

Bilibala: good article to read.这场席卷世界的金融海啸是不是差不多已经过去了？从金融体系整体的风险角度讲，最坏的时间已经过去了。不过从政府财政角度看，最坏的时间远未到来。在过去18个月，各国政府干了一件事——拼命地花钱。在今后十年，政府必须干另外一件事——拼命地还钱。花钱并不容易，还钱则更难。主权债务问题将是一个挥之不去的阴霾，长时间地困扰着市场，并随时可能制造出新的金融动荡。希腊债务危机为现代资本主义历史揭开了新的一章。发达国家的主权信用变得不再可靠，曾是零风险的国债似乎也不再是“risk free”。希腊一个2400亿欧元的经济，今年到期的债务就有高达532亿欧元需要偿还。这个国家的储蓄率在过去十年降低了一半，贸易逆差占GDP的比率在同期翻了一倍。金融危机以及随后的信贷市场收缩，不过是将过去十年经济健康的恶化暴露了出来；发行新债艰难，

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-24980333516099356232010-02-23T15:53:00.002-05:002010-02-23T15:57:31.463-05:00

Bilibala: recovery in house market is slowly taking place. Since house is a huge investment to most indvidual, rebuild confidence can be slow, but once it set, the sales & price growth will accelerate. I think USA house market will back to normal in 2016. Of course, it depends on interest rate and the economy by that time.http://online.wsj.com/article/SB10001424052748704188104575083234096597738.

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-55456042766266934612010-02-23T15:09:00.002-05:002010-02-23T15:13:20.658-05:00

Bilibala's fair value on Disney is US$34.0. I think Disney is a great & un-replacable (at least hard to) company in Entertainment and Media sector, but slow economy recovery will slow Disney's growth in the coming few years. That's why my fair value calculation is more conservative compare to Morgan Stanley.http://www.mysmartrend.com/nw/19058By Chip Brian, SmarTrend Analytics Team2/23/2010-

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-27216794465429001692010-02-23T11:30:00.000-05:002010-02-23T11:32:44.171-05:00

Bilibala: Not a healthy sign, but in a way after Christmas shopping, consumers tends to have a lower willingness to consume in near "future".http://www.marketwatch.com/story/us-consumer-confidence-falls-11-points-2010-02-23?reflink=MW_news_stmpWASHINGTON (MarketWatch) - Consumer confidence fell sharply in February as Americans turned more pessimistic about job prospects and the U.S. economy, the

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-43751200985943281202010-02-22T18:11:00.002-05:002010-02-22T18:24:42.513-05:00

Bilibala: to me, products in Shoppers Drug Mart is very expensive, but, irrationally, customers enjoy shopping at Shoppers Drug Mart. As her shareholders, this is a strong economic moat that I need to take into account in her stock price. CA$44 is really attractive to BUY.http://www.torontolife.com/features/new-general-store/Shoppers outposts are suddenly everywhere, fulfilling our late-night

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-22527172148268124792010-02-22T17:26:00.003-05:002010-02-22T17:30:36.802-05:00

Bilibala: I agree, the bad debt situation is bad, but better than before. Looks like recovery will be slow cuz in the past few years, the banker willing to lend $$ to the credit unworthy families. Everyone had and will still suffer because of this.http://www.reuters.com/article/idUSTRE61I3EC20100219?feedType=nl&feedName=usdaiNEW YORK (Reuters) - A record proportion of U.S. mortgages were in

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-6000520734580389552010-02-22T11:33:00.002-05:002010-02-22T11:36:08.709-05:00

Bilibala: Better than expected earning suggest that recession / the bottom of USA economy and house market was behind us. Even recovery will be a long journey, but Lowe's is great in terms of increase market share and cost management.http://www.bizjournals.com/triangle/stories/2010/02/22/daily1.htmlLowe’s Cos. Inc., which operates 18 Lowe’s home improvement stores in the 13-county Triangle area,

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-67254053883260271912010-02-12T07:26:00.000-05:002010-02-12T07:27:40.005-05:00

Google 推出的 Google buzz ，其實說穿了也就是 Google 覬覦社交網站所憑藉殺入此火紅戰場的工具。使用者可以使用 Google buzz 來傳輸簡要訊息、照片、網頁與影片等資訊，成為在 Twitter 、 Facebook 、 Plurk 與 MSN 之外的另類選擇。當然以 Google 在智慧型手機市場上的耕耘成果，讓 Google buzz 有著比其他社交網站具備了先天的優勢。 Google buzz 內嵌於 Gmail 內，只要使用 Gmail 帳號就可啓用。當然不可避免的，是其以目前各大社群網站的功能為師，所以在 buzz 裡面可以看到許多社群大站功能的身影，例如可以邀請好友來加入 buzz ，或可追蹤他人的訊息，也當然可以同步發布。 buzz 發佈的訊息則明確分成公開與私人兩種，也可直接貼上圖檔、影片路徑來讓多媒體影音資料直接播放。至於同步發布的功能，

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-70628059247108078902010-02-05T10:05:00.003-05:002010-02-05T10:13:01.267-05:00

今次觸發環球股市急挫，是市場憂慮歐元區內財赤嚴重的西班牙和葡萄牙會步希臘後塵陷入債務危機，拖垮歐元區經濟甚至觸發新一輪全球金融危機。Bilibala => the financial situation in Europe is worse than in North America, not because of economy. USA debt to GDP ratio is just as high as countries in Europe. It is the regulation set up in Europe, instead of a united nation, Europian countries form a Union. In order the regulate such Union, it sets up certain the financial

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com1tag:blogger.com,1999:blog-2839530542767173788.post-6287569975517475202010-02-05T09:36:00.002-05:002010-02-05T09:39:43.445-05:00

Bilibala: it is possible Disney's EPS will go down cuz advertising contact was signed in 2009 when the economy is under recession. To me, I think the EPS will be the same as last year.LOS ANGELES (AP) - Family entertainment giant The Walt Disney Co., which just absorbed Marvel Entertainment Inc., reports earnings for its fiscal first quarter after the market closes Tuesday.WHAT TO WATCH FOR: The

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-30540490333797047852010-02-04T16:40:00.002-05:002010-02-04T16:43:30.117-05:00

Bilibala: now day, holding an AAA credit rating means nothing. With such low interest rate, if cash flow is not an issue, why not borrow and invest? This hold true to corporation and so to individual.http://www.businessweek.com/news/2010-02-04/buffett-loses-last-aaa-rating-as-s-p-cuts-berkshire-update1-.html(Adds shares in sixth paragraph, S&P comment in 11th.)By Andrew FryeFeb. 4 (Bloomberg) --

Billy bilibalahttp://www.blogger.com/profile/09023475116809733374noreply@blogger.com0tag:blogger.com,1999:blog-2839530542767173788.post-23629818825864248822010-02-01T14:34:00.003-05:002010-02-01T14:59:26.125-05:00

Top 10 Holdings @ Jan 31, 10China Life (10.0%) M/M China Mobile 1.1% M/M Google (14.5%) M/M Wells Fargo 5.3% M/M China Cons Bank (10.3%) M/M Manulife 1.1% M/M Berkshire Hathaway 16.3% M/M Imperial Oil / Exxon Mobil (5.5%) M/M General Electric 6.3% M/M HSBC (6.3%) M/M Top 5 Sectors in Holdings @ Jan 31, 10Insurance 34.0% Telecom 25.8% Banking 13.4% Info Tech 7.8% Conglomerate 6.1%Top 5 subtotal to

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