· 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 price, if not irrelevant, it has little affect on oil company valuation unless such price will have a duration impact in long term.
Showing posts with label 101 Finance. Show all posts
Showing posts with label 101 Finance. Show all posts
3.02.2011
12.23.2010
Bilibala Finance 101 12/23/10
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 AMD
2. Google vs Yahoo
1. With moat vs without moat - Intel vs AMD
2. Google vs Yahoo
12.10.2010
Bilibala Finance 101
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.
12.02.2010
Bilibala Finance 101 12/02/10
Only invest on business u know & have confidence on, it will help u stay with ur investment until the actual “harvest” period arrived
3.10.2010
业务多元化未必有着数
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，相信是内银股中其中一间再融资次数较多的银行。在融资了这么多次仍要再融资，自然难以再透过一般途径融资，寻找其他帮手亦是理所当然。 在过往历史，有不少成功的企业，由于入股或拓展至其他完全无关连的行业，引致最终失败收场，令公司出现巨额亏损。
美国著名的投资专家 Peter Lynch便常以「 Diversification」一词来形容一间企业将其业务拓展至与本业完全无关的领域，因而招致重大亏损。 所以 Lynch主张，有太多剩余资金的企业，假若资金没有更佳用途，倒不如以股息回馈给投资者，又或用以从市场回购股份，令股价上升，总胜于将资金胡乱投资至其他不相关之行业。
分散风险＝限制回报
假若这次中移动(941)入股浦发银行，纯粹是一项投资，不牵涉到其他合作，尤其是没有如一加一等于零的毁坏性情况出现，则以中移动目前强劲之现金流来看，相信投资于浦发银行的回报，应该高于中移动现时之现金回报率，故最终亦有轻微利好作用。
根据数据显示，手机银行业务是全球一个极高增长的行业，以中移动在国内庞大的电讯网络及较大比例的高消费用户群，相信很容易抛离其他对手，在手机银行业务方面取得较大增幅。
Lynch所讲的「 Diversification」，除了指企业投资于一些全无关系的行业而招致亏损外，他亦用以指出，投资者在投资组合中过度分散而招致损失。其中一个例子便是持有过多不同的股份，假若你将资金平均投资于超过 100只不同的股票，虽然其中一只出现亏损，对你的影响相对有限。但若其中一只大升，你所获取的总回报亦相对有限。同时，更大问题是，投资者持有大量不同的股票，当中大都是亏本的，因为赚钱嗰啲早已沽咗。
作者持有中移动(941)及相关衍生工具 作者谭绍兴为证监会持牌人士
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，相信是内银股中其中一间再融资次数较多的银行。在融资了这么多次仍要再融资，自然难以再透过一般途径融资，寻找其他帮手亦是理所当然。 在过往历史，有不少成功的企业，由于入股或拓展至其他完全无关连的行业，引致最终失败收场，令公司出现巨额亏损。
美国著名的投资专家 Peter Lynch便常以「 Diversification」一词来形容一间企业将其业务拓展至与本业完全无关的领域，因而招致重大亏损。 所以 Lynch主张，有太多剩余资金的企业，假若资金没有更佳用途，倒不如以股息回馈给投资者，又或用以从市场回购股份，令股价上升，总胜于将资金胡乱投资至其他不相关之行业。
分散风险＝限制回报
假若这次中移动(941)入股浦发银行，纯粹是一项投资，不牵涉到其他合作，尤其是没有如一加一等于零的毁坏性情况出现，则以中移动目前强劲之现金流来看，相信投资于浦发银行的回报，应该高于中移动现时之现金回报率，故最终亦有轻微利好作用。
根据数据显示，手机银行业务是全球一个极高增长的行业，以中移动在国内庞大的电讯网络及较大比例的高消费用户群，相信很容易抛离其他对手，在手机银行业务方面取得较大增幅。
Lynch所讲的「 Diversification」，除了指企业投资于一些全无关系的行业而招致亏损外，他亦用以指出，投资者在投资组合中过度分散而招致损失。其中一个例子便是持有过多不同的股份，假若你将资金平均投资于超过 100只不同的股票，虽然其中一只出现亏损，对你的影响相对有限。但若其中一只大升，你所获取的总回报亦相对有限。同时，更大问题是，投资者持有大量不同的股票，当中大都是亏本的，因为赚钱嗰啲早已沽咗。
作者持有中移动(941)及相关衍生工具 作者谭绍兴为证监会持牌人士
11.17.2009
Warren Buffett and Bill Gates: Keeping America Great
http://www.cnbc.com/id/15840232?video=1329393420&play=1
9.20.2009
9.10.2009
7.20.2009
6.28.2009
5.20.2009
Finance 101 - Credit Card
Don't jump at that credit card offer
You might be surprised to find lower credit limits and higher interest rates and fees.
By Gerri Willis, CNN personal finance editor
May 20, 2009: 12:39 PM ET
NEW YORK (CNNMoney.com) -- President Obama has called on Congress to pass credit card reform by Memorial Day. The bill, expected to pass shortly, will make it harder for credit card companies to hike rates and fees starting early next year. But that bill doesn't guarantee that a new card offer is in your best interest. Here are some things to look at when deciding to open a new credit card account.
We all know the term APR (annual percentage rate) but the number consumers should really be paying attention to is "effective APR."
According to Greg McBride, senior financial analyst at bankrate.com, explains, "An effective APR represents your total cost of credit. Now, keep in mind, this may be more than just the interest rate. If you're paying an annual fee, if you incurred a balance transfer fee when transferring the balance to that card ... those are costs that will add to the interest rate that you're effectively paying, effectively raising the cost that you pay on that balance."
Your "effective APR" is unique, different from everybody else's. Here's an example of how to calculate your "effective APR" from Bill Hardekopf at lowcards.com.
Our hypothetical guy -- let's call him Tony -- applied for a credit card with 0% APR for one year.
He spent $1,000 on the card and decided to make only the minimum payments for that first year.
Later, he took out a $2,000 cash advance -- not realizing there was a cash advance fee -- and that cash advances are at a much higher rate than purchases.
Then Tony missed a couple payments, which triggered two late fee charges. It also triggered a default rate -- and his card rate was raised to 29.9%. He eventually paid off the entire card and closed the account. So Tony was tempted by the 0% introductory offer, but it cost him dearly.
Let's add up the total costs to the card:
You might be surprised to find lower credit limits and higher interest rates and fees.
By Gerri Willis, CNN personal finance editor
May 20, 2009: 12:39 PM ET
NEW YORK (CNNMoney.com) -- President Obama has called on Congress to pass credit card reform by Memorial Day. The bill, expected to pass shortly, will make it harder for credit card companies to hike rates and fees starting early next year. But that bill doesn't guarantee that a new card offer is in your best interest. Here are some things to look at when deciding to open a new credit card account.
We all know the term APR (annual percentage rate) but the number consumers should really be paying attention to is "effective APR."
According to Greg McBride, senior financial analyst at bankrate.com, explains, "An effective APR represents your total cost of credit. Now, keep in mind, this may be more than just the interest rate. If you're paying an annual fee, if you incurred a balance transfer fee when transferring the balance to that card ... those are costs that will add to the interest rate that you're effectively paying, effectively raising the cost that you pay on that balance."
Your "effective APR" is unique, different from everybody else's. Here's an example of how to calculate your "effective APR" from Bill Hardekopf at lowcards.com.
Our hypothetical guy -- let's call him Tony -- applied for a credit card with 0% APR for one year.
He spent $1,000 on the card and decided to make only the minimum payments for that first year.
Later, he took out a $2,000 cash advance -- not realizing there was a cash advance fee -- and that cash advances are at a much higher rate than purchases.
Then Tony missed a couple payments, which triggered two late fee charges. It also triggered a default rate -- and his card rate was raised to 29.9%. He eventually paid off the entire card and closed the account. So Tony was tempted by the 0% introductory offer, but it cost him dearly.
Let's add up the total costs to the card:
- $75 interest on purchases
- $379 interest on cash advances
- $60 cash advance fee
- $78 late charge fee
So he spends $592 on all these extra costs, which makes his "effective APR" 19.7% on a card that was supposed to be 0% APR. Be aware of:
- Introductory rates
- Payment schedules
- Cash advance fees
- Late fees
- Default rates
You really have to sit down and crunch the numbers to determine what is the best card for you. Remember, some of these expenses are easily managed. Make your payments on time, keep an eye on your rate schedule and avoid cash advances whenever possible.
Bilibala's comments:
As a credit card holders, if you settle all the balance (not just min. payment) every month on time, with a credit card that do not charge annual fees, I think no one can take any advantage from you and I like cash rebate as the reward program.
3.30.2009
101 Finance: A meaningful financial plan
It is important to put down your short term & long term goals and how much money you need to achieve those goals. So that you will have a road map about where you are going and what you need to do today.A meaningful financial plan can help you to:
1. know how much $$ you need to save in order to realize your goals;
2. Protect & accomplish what is most important to you;
3. Indirectly build up healthy intra or inter-personal relationship;
4. Leave something for the one you love;
5. Improve your financial management;
1. know how much $$ you need to save in order to realize your goals;
2. Protect & accomplish what is most important to you;
3. Indirectly build up healthy intra or inter-personal relationship;
4. Leave something for the one you love;
5. Improve your financial management;
3.14.2009
101 Finance: Create you financial plan
Create you financial plan and stick with it!!
$$ is not and should not be your goal, but it is the tool and solution to achieve your goal.Therefore, when you think about financial goal or investment, the 1st and the most important step is to PLAN!!
"Most peoples are not plan to fail, but fail to plan."
If you don't want to be one of them, you should start planning now, or yesterday (if possible).
Use your pen and paper; write down what you need and when you need it.
If you have spouse or kids, you all should share the thoughts with each other, because some of your goals may require commitment from all the parties and it is a good time to educate your kids to develop their own plans.
$$ is not and should not be your goal, but it is the tool and solution to achieve your goal.Therefore, when you think about financial goal or investment, the 1st and the most important step is to PLAN!!
"Most peoples are not plan to fail, but fail to plan."
If you don't want to be one of them, you should start planning now, or yesterday (if possible).
Use your pen and paper; write down what you need and when you need it.
If you have spouse or kids, you all should share the thoughts with each other, because some of your goals may require commitment from all the parties and it is a good time to educate your kids to develop their own plans.
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