People might argue that SM&rsquo s NTA is only $0.12. However, in any corporation, there are tangible and intangible values/ assets. 

One of the SM&rsquo s intangible values is that TH owns more than 50%. Indeed, this is one of the SM greatest intrinsic values.

Yes, TH is holding on to a great asset portfolio. But, how many TH owns companies that cross 50% ownership. 

Importantly, we have to recognise that it is so hard to own a listed company for more than 50%. (I am not talking about a newly IPO company with the founder retaining 50% ownership). 

*****

I do have some SM shares. But I am not holding beyond what I can swallow. 

I am preparing to hold it for long term. Certainly SM would have to undergo consolidations. Who knows in time to come, the dividend yield is much more than sustainable. 

Even if it only gives a $0.01 dividend, that works out to be 12%, based on my average entry price. Am I too much? How about 8% instead?

Besides, I am sitting on capital appreciation now. 

Apart from that, more calls buy from brokerage firms are expected after merger. By then, they already fully loaded with SM' s share. 

And, from the corporation' s viewpoint, as TH owns more than 50%, it is highly possible that SM becomes a prime vehicle for TH in consolidating its associations with SM.

By the time all the so-called analysts give a buy call, is the time they fully loaded a counter.

Trading is manipulated&hellip it can be by fake breakup/ down or by analysis reports, blogs.   

This kind of analysis gives a buy but not... haha. They are just like bloggers. Just that, they have a much bigger platform. By the time they give a super positive call, too late. Do small retailers like me follow them? For sure, SM is having another round of accumulation&hellip haha