$OCBC Bank(O39.SG) Iggy's Journal: When Analysts Say Buy and My Ledger Says Something Else

7 September 2026, PM

Podcast Release

New podcast video's up, and it's built around something that looks like a contradiction until you sit with it for a second. Two names on UOB Kay Hian's Alpha Picks list, OCBC and Keppel, are both sitting in my Red Zone. OCBC rallied close to 10% in August, but its ordinary yield actually fell to 2.79% because the dividend never moved while the price did. Keppel's in a similar spot at 2.91%, and it's also trading roughly 12% above what InvestingPro's models say it's actually worth.

Here's the thing that isn't a contradiction. UOBKH is picking these for what might happen to the share price over the next few months. My Ledger is checking whether the dividend still holds up over the next few decades. Watch the podcast to find out more.

My Personal Take

Not going to pretend this doesn't put me in an awkward spot next to a well-regarded house view. But my framework isn't built to chase the next few months, it's built to protect the next few decades, and those are genuinely different jobs. Two respected calls, two different questions being answered. Worth watching if you've been tempted to follow an Alpha Pick into either of these without checking what the yield's actually doing underneath the price move.

📺 YouTube: https://youtu.be/MilLSfsbAHY

📩 Substack: https://investingiguana.com/p/two-of-uobkhs-alpha-picks-are-sitting

Not financial advice. Iggy's Forensic Compliance Standards apply.

Cheers, Iggy 🦖