Phillip's Annual Investment Conference - 2019

22 June  2019

Dear Fellow Investor,

Portfolio Review

Last week I reviewed some of our holdings so will continue this week.

We are holding Inari, a maker of radio frequency chips for the Apple I Phone . With trade war rhetoric, a large drop in semiconductor stocks, fear of global slowdown, drop in demand for Apple phones and general doom and gloom , Inari has dropped.   Despite the negative news, Inari is in a net cash position and has recovered from panic lows. They have the cash reserves to ride out the cycle.

Their fiber and optoelectronics sector revenues continue to increase.  Inari is highly correlated to  Broadcom and Apple  which have  advanced from their lows.  Despite the negativity.  I have not sold any Inari shares for our clients.

Inari insiders continue to buy.

Maybank is another core holding which I bought anticipating an economic turn around with the new government .  The turn around is taking longer than I expected but the generous dividends have covered a small capital loss.  We hold for now. I also bought Maybank as they are a leader in fin tech.  Did you know that they were the pioneer in the number system replacing the stand in a long line waiting for a bank teller ?

On 27 June, Thursday evening  Eric Noland, chief economist for the CME will be speaking at the Westin Hotel on the dynamics effecting the oil seeds markets including CPO.  He is flying in from  Chicago as a guest of Phillip Futures to make this special presentation to trade participants. I will be there to take notes which I am happy to share with you.

Our recent purchase of United Plantations has held steady in the face of the onslaught of negative news and broker downgrades.

Not one broker that I know of  is recommending plantation shares. We are in a lonely space and that is the space I like to be in.

On Saturday 29 June will be our Investment Conference at Berjaya Times Square. Do check this out if you have time. I will be there to answer your questions about your holdings. It is FOC for clients.

Invest well and grow your wealth,
Bill

Critters of the week is breakfast at the Bali Zoo with the Orangutans.