Which overseas market is a good hunting ground for value stocks?

[soros]

If searching for Hong Kong stocks and using popular website : www.aastocks.com, you can get a good understanding of the stock potential by checking the current price and PE ratio, past 10 years dividend record and 5 years summary of earnings ( table gives the earnings per share, dividend per share and NAV.) as well as quick glance of the recent interim and final annual report.

Total time spending about 20 minutes. Just reject any company with no dividend payment for past 3 years . Also reject any company with EPS below 1 cent.

You will not get rich holding these penny shares.

Merry Christmas and Successful investing in New Year

[bardsmanship]

Thanks weijian for the detailed reply!

By structure do you mean whether the company is controlled by a parent? E.g. UOB and UOL, UIC and Haw Par, Wheelock (HK) and Wheelock SG and HPL, the Jardines and Dairy Farm etc.? It's true that I didn't take this into consideration at all when I first started investing - it didn't even occur to me These days I try to look out for whether the parent is debt-laden / cash-strapped, and whether they dispose of lousy assets by making the child companies buy them (e.g. for REITs and their sponsors).

It doesn't help that my shares are held in a custodian account (SCB), so I can't attend AGMs and ask questions in person. I'm trying to get around that by calling / emailing investor relations whenever I have doubts.

I'd actually be very interested to know how much time some of the more seasoned VBs spend analyzing stocks! For instance, I think TTTI has mentioned in some of his blog posts that he sometimes "lives and breathes" one company for weeks at a time. That's something I definitely haven't experienced yet.

That's also one of the reasons I'm reluctant to invest in overseas markets, I don't like the idea of not being able to just pick up the phone and call IR when I have questions, because international calls are expensive.

[donmihaihai]

I'd actually be very interested to know how much time some of the more seasoned VBs spend analyzing stocks! For instance, I think TTTI has mentioned in some of his blog posts that he sometimes "lives and breathes" one company for weeks at a time. That's something I definitely haven't experienced yet.

I don't know about others, I know about myself. I know once I finished all my reports, am I comfortable with the stock. Only I know when I am comfortable with the stock and it change as time goes by because I got a little more experiences.

If you are unable to know, most likely you have not dive deep enough. If you do decided to dive deep in researching, now, how much time needed is no longer the key.

Try reading the article in the links, I am doing something almost similar. Well... not as details, not as deep.

http://www.gurufocus.com/news/463616/how...n-industry
http://www.gurufocus.com/news/461297/wha...eally-mean

[karlmarx]

Hi bardsmanship,

If i'm really interested in a company, I will first look at its IPO prospectus. To me, this is the most important document to understanding a company; its history, operations, risks, and how compares against the wider industry. Reading this will usually take me an entire day.

I will then proceed to look at their annual report, starting from the year after their IPO. I look for growth, success/follow-through/consistency in executing stated strategies, and ownership changes. I also get a better understanding of the business' operation and risks through its footnotes; lease remaining on major properties, currency of cash holding, interest rate of debts, quality of receivables, future capital spending, etc. This can take a few days, or more if there are lots of information/developments released throughout the year, or it is more complicated than I'm able to comprehend, or if there are cross-references to be done.

At the end of this process, I will assign a price which I'm willing to pay for this company. Usually, this is much lower than the market price, and hence most of the time I will tell myself, 'this is too expensive.'

[Choon]

I feel US is a good place to hunt. There Form 10k are also more educational than SG annual report, MD&A.

My overseas holdings are:

Apple (US)
Wells Fargo (US)
Advanced Info service (Thailand)
Cabcharge Australia (Australia)

And it's because I think there are few enterprising companies , strong comp position in SG.

[BlueKelah]

I feel US is a good place to hunt. There Form 10k are also more educational than SG annual report, MD&A.

My overseas holdings are:

Apple (US)
Wells Fargo (US)
Advanced Info service (Thailand)
Cabcharge Australia (Australia)

And it's because I think there are few enterprising companies , strong comp position in SG.

Your overseas holdings that you shared all may have strong comp. position in their respective markets but I dun think they are enterprising now, mostly just oligopolistic after being enterprising at first and now being one of the big incumbents in their industry. more like just dividend plays, SGX also has a few. 

My take...

Apple -  No more steve jobs, not that enterprising anymore. No news of them incubating startups/etc or groundbreaking new products.

Wells Fargo - how enterprising can they get. its just banking. yah they are testing latest technology like blockchain, but thats just based off bitcoin, which none of the banks invented.

Advanced Info service (Thailand) - owned by temasek and singtel right? 

U might want to review Cabcharge Aus. I reckon it has already lost its competitive edge with Uber managing to enter and officially operate in the aussie market with access granted to the major city airports. This years rebound is likely due to speculation the ihail app would succeed and the co. now trying to launch its own branded 13CABS and its own app and trying to get into the ride-sharing market. Profit at cabcharge has taken a big hit and share price is going against fundamentals at the moment.

I reckon gOcatch and Uber are gonna keep getting more popular as prices there go down, down under.
Interesting read : http://www.ozcabbie.com/201611-taxi-esta...ing-gambit