Those Were The Days

Those Were The Days

Listening to the radio

I remembered vividly the early days when it comes to investing before the internet era. I still recall during the 1990s that there was a regular radio announcement of share price for selected stocks closing on that day. The announcement would be around 7pm or 7.30pm.

And it normally begun with the announcement saying : Here it the closing share price of some selected stocks. Then I would gleefully glued myself to the radio and listened to it.

At that time, if you do not listen to the radio at that time, chances are you can only know the closing share price in the newspapers the next day.

The viewing gallery

Full house many times throughout the days except during lunch time!

Many investors, busy or not, would somehow found time to be at the viewing gallery to monitor or catch up with the share price on the electronic boards on the wall. For some stock broking firms, they would be displaying the share prices on television sets. And there were many television sets on display from one corner to the far end with one television set on top of severals.

During the market's rallies which went on for long period, finding even a parking space (for motorcycles or cars) could be a time wasting event as there were virtually no parking space left.

Not only that, even the viewing galleries were so full of people that there would be no space for you to squeeze in. One had to cringe his neck hard  among the crowded gallery just to have a peek only.

Hot drinks on the house

Several stock broking firms also served hot water, coffee and tea for the "viewers" free. Some veteran investors even brought their own cups kept them at their "secret place" so that they could enjoy their hot drinks from their own cup every time they were there.

The only time one can have see the viewing galleries with plenty of empty seats were during the bear market periods. During these "susah times", parking space was plenty. Seats were plenty. The so-called veterans expert investors also disappeared. They were given such names because they spent most of the days there and they could easily identified any company with their  business as well. They could be seen giving advice to newbies at the galleries from time to time.

Collect your share certificates

I also remembered in those early years before shares went script less. Veterans (including yours truly) would know that those early years, when you buy shares, you have to go to collect the certificate (but not yet registered in your names).

Although the certificates are yours (since you bought it), you still need to sent it for registering into your name. This might take between three weeks to a month. During this time, should that particular share experiences a sharp spike in its share price, there is nothing you can do because you are still waiting for the certificate (to be registered in your name) to be delivered to you.

Because of this, many investors (especially those not for the long term) would not register the certificates. So what happens is when that company pays out a dividend, the dividend goes to the registered name and not the new owner.

Most of the times, I would send in the certificates for registration before selling it later. Believe me or not, even I sold them later, I still continue to receive surprising dividends (many times) because the new buyer did not register the certificates into their names.

Alas, Bursa Malaysia braced into the internet era and shares certificate became script less.

Selling 5,000 shares of

Imaspro Corporation Berhad

 at an average price of

RM1.921 on Feb 5, 2016.

I have decided to dispose of all my 5,000 shares of Imaspro on Feb 5, 2016. Imaspro's financial results especially the last two - three quarters have been just average despite the USD appreciation against the Ringgit. Despite oil being low for most of the months, Imaspro did not seem to benefit greatly from these.

Other companies doing export business seem to have benefitted greatly judging by the good results announced.

The return of selling Imaspro has resulted in a profit of about RM2,300 (including dividends of RM175 and minus the two way brokers' charges.

The return is about 30% for an investment of seven months.