Stewardship of a Public Listed Company
Here, I would like to share what kind of stewardship of a PLC can create shareholders’ value for 10-20 years. What I am going to share may piss you off. So in case you want to learn something more systematic, you can visit http://www.morningstar.co.uk/uk/news/123626/10-steps-for-evaluating-company-management.aspx#sthash.HaRa4CYo.dpuf.
Do you ever wonder why the following counters worth what they priced in the market?
BAT – 16.4 (Sep 1999) – 69.56 (Feb 2015)
NESTLE – 13.18 (Sep 1999) – 73.64 (Feb 2015)
DIGI – 0.11 (Jan 2003) – 6.32 (Feb 2015)
DLADY – 1.75 (Sep 1998) – 47.22 (Feb 2015)
GAB – 2.76 (Sep 1998) – 13.42 (Feb 2015)
CARSLBG – 3.38 (Mar 2009) – 12.5 (Feb 2015)
PANAMY – 5.24 (Sep 1998) – 20.8 (Feb 2015)
UTDPLT – 2.9 (Mar 2001) – 25.4 (Feb 2015)
Well, we can say these companies have wide economic moats, strong financial position, etc… But here, we talk about stewardship.
I attended AGM of these companies before, and I am brave enough to conclude one fact: Management who capable to make a company highly priced is “有样看的”. What these words mean “you can see the quality from their style or face expression”. In the same context, the management who make a company underperform also “有样看的”.
If you want to invest a company for very long term, meet the management team in AGM.
https://lcchong.wordpress.com/
Here, I would like to share what kind of stewardship of a PLC can create shareholders’ value for 10-20 years. What I am going to share may piss you off. So in case you want to learn something more systematic, you can visit http://www.morningstar.co.uk/uk/news/123626/10-steps-for-evaluating-company-management.aspx#sthash.HaRa4CYo.dpuf.
Do you ever wonder why the following counters worth what they priced in the market?
BAT – 16.4 (Sep 1999) – 69.56 (Feb 2015)
NESTLE – 13.18 (Sep 1999) – 73.64 (Feb 2015)
DIGI – 0.11 (Jan 2003) – 6.32 (Feb 2015)
DLADY – 1.75 (Sep 1998) – 47.22 (Feb 2015)
GAB – 2.76 (Sep 1998) – 13.42 (Feb 2015)
CARSLBG – 3.38 (Mar 2009) – 12.5 (Feb 2015)
PANAMY – 5.24 (Sep 1998) – 20.8 (Feb 2015)
UTDPLT – 2.9 (Mar 2001) – 25.4 (Feb 2015)
Well, we can say these companies have wide economic moats, strong financial position, etc… But here, we talk about stewardship.
I attended AGM of these companies before, and I am brave enough to conclude one fact: Management who capable to make a company highly priced is “有样看的”. What these words mean “you can see the quality from their style or face expression”. In the same context, the management who make a company underperform also “有样看的”.
If you want to invest a company for very long term, meet the management team in AGM.
https://lcchong.wordpress.com/
