Thoughts
I took a way below SL loss last week. I have not been disciplined and hard pressed for time in work. this will likely add to my new " top 10 losses" breaking my 1yr streak of not adding new entrance. But i am glad i took it once i saw it, otherwise cannot imagine the mental disturbance it will cause me.
Transanctions
APAC Realty. From a 10% profit to a 15% loss. have been busy lately and it coincided with the drop in markets. There were also 2 opportunities for me to exit, but i didnt execute the move because too busy and could not monitor well. this is the loss i deserve!
Holdings
accordia golf trust. chance to break higher spotted!
fu yu. looking healthy still!
sats. need to exit soon even if it did not touch the SL, exit at the rebound
thaibev. probably time to exit, price will be limited to 85c
wilmar. planning a scale up soon
ying li. continue to hold since the 14c offer expired. added another 25 days to the expiry to see the trade play out. expect good stuff
Holdings (investment)
Olam. entered on 3rd week of 2019 as an income investment with element of growth. The thinking behind it is documented here. I wanted to enjoy good dividends as i wait for capital appreciation.
The idea is for entry:
- Good sustainable Dividend of ~4%
- Better cashflow than its peers
- No foreseeable technology disrupting its business
Exit will be when:
- Dividend cannot be sustained due to negative news
- cashflow drops below its peers
- Creditable disruption to its business appears.
DBS.entered on 2nd week of 2019 as income investment with element of growth. The thinking behind initiating a position is documented here & here. I wanted to enjoy good dividends while i waited for capital gains to be realised.
Entry was because of:
- Management. Comparatively better management than the other banks, proactively absorbing technology to avoid disruption.
- Attractive dividend yield (5%, $1.2) that is sustainable.
- No foreseeable disruptive technology in sight.
Exit will be:
- when dividend cannot be sustained above 2.6%
- Foreseeable disruptive technology to its business spotted
QAF. Entered on 13th week of 2019 as income investment, with high yield and potential upside. The idea is that declaring 4c dividend (consistent with yield since 2012) quashed the perception that it will cut dividends for following months due to the earlier drop in profitability and forced selling of high returns business in Malaysia.
Entry was because of:
Entry was because of:
- maintained dividend yield ( DPU 5c)
- attractive dividend yield 6.1% entered at 81.5c
- no foreseeable disruptive technology
- when there are indicators that dividends have to be cut
- disruptive technology in the horizon, but no corporate action to adopt it
Singapore O&G. Income investment. There was a bit of FOMO, because just as i was about to buy after considering so long, it suddenly breakout higher, then of course at the end of the week... price headed down. But it is alright, because i am looking at this for a longer horizon.
Reasons why i was looking to buy this counter was:
- net cash counter
- sustainable dividends
- high value service
- near IPO price
- higher dividend than other similar counters
- Disputes/unhappiness among partners/doctors.
The dividend is above 4% and there is room for more growth. Will exit when capital appreciation outstrips dividend growth, or when there are long-term decisions by the company management that reduces profitability (e.g. enter into related businesses).
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