Nov 1, 2019

Cory Diary : Equity Allocation Nov'19 Report

Just about a week ago Cory documented an early exam report card thinking the score will go down this week but he didn't. If you miss his Diary on Oct Performance. Must visit.  ( link ). Is good to be wrong for this case isn't it ? Again a good problem to have.

And then he wrote another piece of work on How to make money ..... (No Scam okay ... here's the link ). This piece of Diary is Classic .... as it summaries Cory progression .... or regression .... . which I find is important to understand the essence though kiasu and kiasi methods can varies.

To cut it short here's the Final Equity Allocation.

For Year 2019,

XIRR YTD      : 24.4%
XIRR Dec'19 : 19.7%

(updated for privacy) . Cory maybe right to say portfolio will be lowered just that is not this week but probably next. 

First of all is the announcement of Ascendas Reit Rights Issue. In Cory opinion, the discount is quite large in order to raise enough sum. The fortunate thing is for this time is not along private placement lines that they are quite familiar with as this will put a dent on shareholders value. The second thing the manager did right is to allow the rights to be sold. This mitigate value loss. And on top of it is DPU and Yield accretive on such a solid Reit which gets even better in gearing and property spread after. The ex-rights date is also aligned to Ex-dividend. Though Cory secretly hopes for price increase, needs to prepare for reduction in his heart too.

Secondly, Portfolio took a small hit due to Aims Apac Reit secondary listing. So much learning for the past weeks. There is no new share issue but the placement at $1.35 basically allows "richer retailers" to do a quick flush into the market. It has since climb back a little. Guess vested folks will be looking sternly into the coming DPU report for any misgiving. Yes, Cory clinching to George reputation, integrity, acumen, ... apology for the stress if you have read it though unlikely. 

(updated for privacy) 



1 comment:

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