Cory Diary : Performance Nov'20

In my earlier blogging which I mentioned that it is better for me to be in the Green than to widen the lead against STI with Portfolio still in the Red. And my wishes is awarded as such by end of October. The gap final close down to 15.7% which reflects remarkable STI returns within a short span of time cutting it losses just below 13% and probably single digit after dividends. My portfolio returns almost 2.8% in the black on the last day of the month.

If we look how the year started with Covid-19 and how the bleak the situation is, many people would be surprised that we could end in the black for STI. Nothing impossible. We shall see how it performs in Dec. Currently, after a good run, there is some correction.

 

What is hindering STI is probably Vaccines solutions in which countries are rushing them out in record time. The damage to the economy specifically to the Airlines are long term even if the economy recovers. I am also a little reluctant on Hospitality as they will need to do much more to repair their balance sheets. I would think some how we need to price in Virus risk into their stock price.

As for the laggards, Retail Malls which are quite cheap for those that support daily necessity. So this are ones which I am positioning. Others possible contenders will be SBS Transit, SATS and ST Eng. There is some trading play on the Banks but it will remains a key stake as I have emptied my STI ETF.

There are also a few others like MLT and MIT which I decided to KIV unless they comes down enough to improve their yield. I really likely to own them but the situation has to be right. Maybe I will kickstart with small positions if there is further reduction in their prices as AGT has make it way out of the portfolio after the 2nd tranche has been distributed.

Lastly I am tempted to return to Sheng Siong .... except that valuation is not cheap. Perhaps I need to be more patience. 

Cory

2020-1202