NUS Investment Society Year Book 2018
Established in 2003, National University of Singapore Investment Society (“NUS Invest”) is the only conglomeration of student investment enthusiasts throughout the faculties of the university. NUS Invest is a student initiative that provides the key platform for NUS students and other student investment enthusiasts to unite and expand their financial and investment knowledge. NUS Invest aims to provide the key platform that facilitates exchange of knowledge and provide growth opportunities for the development of students dedicated to pursuing a career in the business world. Understanding that the finance and investment world is ever-evolving and that knowledge is boundless, it is the Society’s emphasis to nurture dedicated students who are determined to excel in this industry by empowering them with the relevant skills and knowledge valued by qualified professionals as well as providing the opportunities to build connections.
Established in 2003, National University of Singapore Investment Society (“NUS Invest”) is the only conglomeration of student investment enthusiasts throughout the faculties of the university. NUS Invest is a student initiative that provides the key platform for NUS students and other student investment enthusiasts to unite and expand their financial and investment knowledge.
NUS Invest aims to provide the key platform that facilitates exchange of knowledge and provide growth opportunities for the development of students dedicated to pursuing a career in the business world. Understanding that the finance and investment world is ever-evolving and that knowledge is boundless, it is the Society’s emphasis to nurture dedicated students who are determined to excel in this industry by empowering them with the relevant skills and knowledge valued by qualified professionals as well as providing the opportunities to build connections.
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Hisbestinvestmentand the thoughtflow behind the idea<br />
One of my best investment ideas was investing in Mobile Telesystems<br />
(NYSE:MBT),which wasa solid beton the recoveryofthe Russian economy<br />
back then.MBT was Russia’s biggest telecommunications and was a<br />
more profitable and well-managed companycompared to itsfiercestcompetitorin<br />
Russia – VimpelCom (NYSE:VIP).Back then,the stock price of<br />
MBTwascrashing dueto thefallin valueoftheRussian currency,Rubbles<br />
due to the US sanctionson Crimeria annexation and falling oilprices.The<br />
over-pessimism ofthemarketfrom themacro news(which wasnotmaterial)resulted<br />
in the stock price falling waymore than the value ofitsbusiness<br />
(valued it using Discounted Cashflows and H Dividend Discount<br />
Model).Ithen tookadvantageofthemispricing and madeover30 percent<br />
in which thatstock took up nearly50 percentofmyoverallportfolio.<br />
A mistake made while investing<br />
ForMobile Telesystemsand KeppelCorporation,the mistake thatImade<br />
wasthatIdid notaveragedown furthereven though Ihad high conviction<br />
thatthe price wasstillundervalued when itdropped furthernearlyby50<br />
percent.There isa conceptthatsaid “Ifwe are notwilling to buyon that<br />
price,sellit.Ifwearenotwilling to sellon thatprice,buyit”.Ofcourse,<br />
a balance is needed since investing is so dynamic, there is no right<br />
answer.ButIhavelearntthataveraging down attherightpriceduring extreme<br />
pessimism,would mostlikely lead to a good outcome – given the<br />
factthatwe have high certaintyaboutthe company.
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