Perspectives from the acquired

Capitaland acquisition of Ascendas Singbridge

From a high level perspective, Temesek holdings and capitaland is doing a merger via swapping of shares. Capitaland gains control over the units of A-REIT, I trust H trust, and property development arm of Ascendas Sing bridge. Temesek gains a controlling stake in the Capitaland cash cow. There is no direct impact on Ascendas India trust and ascendas REIT as the controlling shareholder TH stays the same, amid shrouded by an additional corporate veil. 
18.14% of my portfolio is exposed to ascendas singbridge. (Ascendas India trust and Ascendas REIT). Although I did not deliberately structure it to be significantly exposed to one single sponsor , it could be a potentially unexpected windfall if capitaland shareholders decide to approve this acquisition and the acquirer makes a tender offer for the remaining I trust and A REIT units (In capitaland shares or cash). This is nonetheless speculation as firm details can only be provided after share…

The Value of Stories in Business

Bridging the qualitative and quantitative

The Value of Stories in Business

1) Learn to be a disciplined story teller or a visionary (Contextual)  number cruncher.
Without numerical discipline to tie your story to, you are simply building castles on air.
Without contextual knowledge in your spreadsheet / checklist, you simply have a large chunk of easily manipulable numbers on a spreadsheet.

2) Dangers of pure quantitative and correlation based valuations. 

i) You can hide your bias in the numbers in your inputs and conveniently hand wave it. If you do not keep a positive and open feedback loop, you will blindly believe that whatever you input is true.

ii) The ever changing nature of financial markets mean that what historically successfull formula and strategy will eventually be adopted by others and priced into the markets.

iii) You can simply delude yourself into thinking you are precise, objective and being in control.

Dangers of pure qualitative based valuations 

i) Being creative …