Cory Diary : DrawDowns

Year 2025 is interesting year because it was beset with risks and shocks to our Portfolio. People who left the field may find it hard to come back if they sell out earlier. The volatility was man-made unlike GFC 2008. There are no fundamental hit on the broader economy, and employment is still in good territory. This form a baseline of how fast the stock market can recover from fear each time shock hits the market.

After several emotional shake-up, the equity market continues to be supported back-up. There are 5 drawdowns during Corydorus lifetime investment portfolio and it won't be the last. How we manage our emotions could be the key on hanging on to the market with the needed size and resolve. Year 2022 on annual basis looks to be a deep drawdown than others but that is because it ended on year end. In fact the portfolio faces quite a few deep drawdowns during some of the years too except it closes higher by year end. The devil in the detail and not look at the chart plainly. The effort into keep the performance afloat every year not seen as is hidden away from most viewers.

How do you manage emotion maybe the key. Getting into the right business, diversification, right price, feel of probability, macro view and managing our cashflow are few of my styles which touches my vines, and passion. This works for me so far to stay in Business and like many businesses we may have to be on constant moves to manage it. Nothing is free.

Cory Diary

2025-0528

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Disclaimer: The articles presented in this blog reflect personal opinions and are intended for informational and sharing purposes only. Not responsible of errors. Readers are advised to seek professional guidance when making financial decisions and should take full responsibility for their choices.

Cory Diary : Holding Underperforming Stocks

FHT just got privatization offer. Should investors be overjoyed ? Maybe entry price is a factor and strictly speaking got a lot to do with your karma.

However, what i can say is as below table.

Opportunity cost is real. Not everyone is a Meta stock. We hope the one that put inside our fridge is one.

Chances are not good. Every year could be a pain mathematically if we hold on to a stock for 9 years for 27% absolute gain. Some will think is still good ....

If we have unlimited fund, I don't disagreed. Fact is how much funds available for investment is really limited for most of us. Another stock if give 7% compounded will give a difference of 57% more gains. Time is a critical factor in every investment that one should evaluate.

Cory Diary

2025-0514

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Disclaimer: The articles presented in this blog reflect personal opinions and are intended for informational and sharing purposes only. Not responsible of errors. Readers are advised to seek professional guidance when making financial decisions and should take full responsibility for their choices.

Cory Diary : Liquid Assets Allocation

This is a special segment of ratio reference to take a quick look when we compared Fixed returns (excluding FD ), Gold and Investment Accounts against Equities. They are generally quite liquid. The reason to exclude FD is that they are funds segregated from investments. Fixed Deposits are Emergency Funds of about 4 years. Not a lot in my situation.

What can I read from the table ?

1. There is theoretical 20% reallocation as War Chest from T-Bills/SSB and Multipliers.

    In practice, SSB which are receiving 3%+ will be quite hard to re-balance out.

    T-Bills will be much easier.

2. The Dividend generated are more than enough to pay down the loan.

    Yet think through what to do with excess from recent Tariff re-balance exercise.

3. Growth comes from US Market and Banks. Banks only 42% in this Chart perspective.

Poking on ChatGPT

Here's what I got in perspective. I did not mention my age.

Your current allocation reflects a stable, income-focused, and low-volatility portfolio—which is generally appropriate for a retiree. Here’s a breakdown of strengths and potential concerns:

✅ Strengths ("Greatness")

1. Strong Dividend Focus (Banks + REITs = 63.5%)

Likely generates a consistent income stream.

REITs add yield with partial inflation protection.

Banks in Asia, in particular, tend to be solid dividend payers.

2. Capital Preservation (T-Bills / SSB / Multipliers = 22.6%)

Provides a buffer against market volatility.

Offers liquidity and a safety net, ideal for drawdowns in retirement.

3. Low Exposure to Speculative/High-Risk Assets

Very limited allocation to volatile sectors or emerging tech/growth equity.

Suitable for your risk profile and need for capital stability.

📌 Suggestions (if alignment with goals allows):

Trim banks slightly (e.g., to ~35%) to reduce sector risk.

Reallocate 3–5% into global diversified ETFs or quality growth equity, especially US or global leaders.

Top up gold to ~3–5% if you’re concerned about inflation, currency shifts, or want a deeper non-correlated hedge.

Cheers.

Cory Diary

2025-0508

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Disclaimer: The articles presented in this blog reflect personal opinions and are intended for informational and sharing purposes only. Not responsible of errors. Readers are advised to seek professional guidance when making financial decisions and should take full responsibility for their choices.

Cory Diary : FCT Review - 1H25

This Table kind of summaries the strong performance of FCT reit. I like the cost of debt trend chart which gives me a good view the direction of the cost structure. With this charts, is not hard not to beat past DPUs.

The past recent acquisition of Nex and now the South Wing of Northpoint City have significant mitigate the concentration risk of the Reit.

Results

Risks

One of the few reits that has recovered and will thrive in the future. Having said that, there is risk of JB competition. Nothing is totally free in this world I guess in investment. Considering the risk and reward, is a calculated risk for me to have a stabel generating reit with some growth. FCT reit fits the bill well. And with Oil price low, bill costs will not be elevated too. I just have to size it appropriately to my own needs.

Investment

Current yield per my note is 5.3%. When Tariffs War was in quite deep crisis, I rebalanced half of my FCT holding to get stronger yield from other beaten counters after Ex-Rights. Subscibed a large amount of FCT rights shares in excess. This fill back some of those I sold at much lower price. This scenario seldom happens for this class of reit due to market was beaten down. People who has cash want to buy other heavily beaten down stocks. Those who don't have cash at that time, could not re-balance or borrow more to buy the rights. On hindsight, I should have applied even more.

FCT is my best performing Reit YTD for a low yield reit. This gives another lesson that in returns wise you can achieve greatness without taking much risk.

Cheers.

Cory Diary

2025-0504

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Disclaimer: The articles presented in this blog reflect personal opinions and are intended for informational and sharing purposes only. Not responsible of errors. Readers are advised to seek professional guidance when making financial decisions and should take full responsibility for their choices.

Cory Diary : Net Worth update

Quick check, 4 months since i last updated. Quite an amount of the equity investment recovered. Some of the major expenses are also captured. More to come ... . I thought is a good time to take a good look at where am I on Net Worth specifically since I have retired. In absolute -1.3% YTD. Which is still ok considering the On-going Tariff War. It can be much worst. The strategy to remain focus on dividend returns play a key mental support role I guess. 

Re-balancing

So the good news is from the recent tariff sell down, there is not much worry from my side. I still do sizeable manevour to mitigate and taking opportunity on equity side. As you can see from the chart, a dip and a rebound. On the US market side exposure, peanut butter strategy seems to work well for me and changes are in that direction. Effort wise is minimal.

One point to add is that recent sell-down by Mr Market helps to futher increase my annual dividend return without much new fund allocation. I do this by re-allocation of equity and some funds buying lows from investment accounts. I realised investors for some reason will just keep selling down stocks even when the fundamental of the companies are strong. They could be on margin call, leverage fear, or maybe insitutional actions. God Knows ! Ofcourse we need to have standby Warchest or additional funds to take advantage of it. 

Expenses

Few critical expenses like child private school fee and tax allocation especially are considered. I have also decided to remain about 4 years of family expenses in low yield returns. There is plan to increase my rental income. This is still in work-in-progress. If successful, would help to cover my annual family expenses firmly. Other new expenses are two new term insurance which i feel needed. This is mitigated by paying slightly higher on monthly basis.

Format

For future reporting, I am considering to simplify the Net Worth Chart as I realised stacking line chart seems not as intuitive. I need to find time away from my growing personal allocation to gardening .... . My latest assignment ... or hobby.

Cory Diary

2025-0503

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Disclaimer: The articles presented in this blog reflect personal opinions and are intended for informational and sharing purposes only. Not responsible of errors. Readers are advised to seek professional guidance when making financial decisions and should take full responsibility for their choices.