Sep 20, 2019

Cory Diary : Trades - 2019-0920

First time staying late like 30 mins (2.30 am) to watch FED Announcement this week and learned something called a dot plot. Find it interesting but don't call me a dinosaur as I learned that it is getting less relevant today.

The market is very big with different interest groups. Personally to me is the required right step to meet broader market expectation and do a cut though how market perceive them later is another matter. A hike would certainly put the market to a major downward spin. A neutral will be bad on trade front as everyone is cutting rates. This lead to a few trades thereafter.

One of them is Wells Fargo & Co (WFC). With the increasing Banks allocation in SGX market, I see not much value now to have WFC with much lower dividends. One counter reduced. Glad to receive in strong USD term. However, net-net is neutral so is a year plus of opportunity cost though I wouldn't say is wasted as is a hedge against my local dividend counters.

This week we have good news on DC acquisitions by Mapletree Industrial Trust (MINT). The terms look good and rewarded with almost 7% up. That's a far cry from Keppel DC Reit acquisition though but I am glad to get 2nd prize as MINT is one of my  key position. Did some trades to take some capital profit off the table while still 60% vested as I believe now there is possible room for growth vs Ascendas Reit. To-date MINT has floated about Ascendas Reit in my Bubble Chart though smaller in size. Here's the previously reported chart.

To boost my dividends, Ascendas Reit has been increased from recent lows. Pretty happy about it. This filled my dividend gaps nicely but just as I did, MINT opened another due above. With much investment cash still available, I will probably be prudent this time to prepare for year end and be more conservative. One action I did is to increase my bond holding a little bit more.

Lastly, thanks to recent upswing in Reits again and... the idea of ever lowering yield in the market seems to take a stronger root. Cory Portfolio hit a high in profit with Xirr reaching 18% of range last seen in 5th July. However, this time is different because we are leaving STI quite far behind due to Bank components. Almost want to do a further average down on Banks but froze.




No comments:

Post a Comment