Cory Diary : Trading Log 2020-0925

Long time since I last post on Trading Log. In my portfolio when I last did on this log series, I venture a bit far on the risk side for higher dividends. So sometimes I get a little nervous. Next is my build-up in SGX has pulled off in Diary of Trading Log 2020-0814. Often act as counter balance to down trend stocks.

Accordia Trust

As earlier articles, I have reduced my position 40% on this. Is still sizeable but I no longer in "fear mode" :P .  AGT is Golf Trust nevertheless with "sibei" good dividends as we wait for the final offer that since arrived. And soon it will be Ex-dividend and then finally delisted. Good returns and not bad for a stock I know so long and suffer the mental rides of the prices this year as position grew.

Ascendas Reit

Continue to build up on this position which I have cleared some time back. I am waiting for a big gap down if any before willing to average down else I will leave my cash in War chest. At around 4.5% yield, this is one counter I can afford to hold for long term and sleep well. Not sure why but I feel the last dividend seems a little low. Is it just me for an accretive deal to be given a reason that there is now more shares in the market from the last acquisition to have lower DPU ? Interesting to know.

IReit Global

I have decided to take profit 80% (CDP) with remaining 20% remains with another broker for the rights issue. I could use this to try out custodian broker for rights issue and learn something from it.

This sales put a large dent in my dividend returns so I am still in the work on mitigation mode before Year 2020 ends. The concern with this counter is the rights issue is discounted so much that I feel the management has taken investors for a ride. Furthermore the Spanish investment doesn't seem a good deal. I miss the previous CEO. I may still find opportunity to increase my position after as the they will have another chance but just smaller chance in my portfolio. Need to remind myself credibility is very important.

Mapletree Com Tr

Manage to build up some positions past few months. So now we have driven a gap of capital profits. I am still considering whether it worth to expand the allocation. This is Quality Reit in my opinion so unlikely will sell any in mid-long term. Is not everyday we can secure a position in the famous Reits at good price. So hold tight tight ....

Cromwell Reit

When it first listed I am pretty negative on the reit. I still do not have full trust in it. However it has dual currency denomination listed which I want and also act as a hedge being mainly listed in Europe. Small position so far.

With all this, I end up with much more net cash position for War Chest build up at lower theoretical dividend of-course.

Cory

2020-0925

Cory Diary : Revisiting Thought Process - Portfolio

Decision Making

Back to Radar View to conceptualize my thinking .... on my investment size in each counter.

There are 3 scale markers in the chart with 0%, 5% and 10%.

For those who find it hard to read, the radar view display my investment size for each counter with those in the center has the larger allocation. Sitting on the most outer ring has zero investment now eg. HRnetGroup, PrkwayLfie Reit and Mapletree com Tr.

This year return so far hits XIRR 6.5% today which is pretty close to 6.4% profit year to date. Thanks to Reits/Trusts and the US stocks rebounding which I suffered from last year

 I still find amazing how far CMT has run. Even at this price or yield, I would not sell because with so much cash in the system is quite hard to find one that can give me 5% dividends with possible growths. Ascendas still has good yield in it despite the run up. If I have a chance I would acquire more but since it has hits 11% level, I need to be prudent despite my confidence.

Overall, the colours proportion is probably where I wanted with the blue dots growth/speculative occupying lower percentages and Red dots moving up slowly. I did not do fund injection this year yet as I moved some fund to up my SSB. I would be working to up a little more cash to fill it up to 50K dividend level plan.

Below is my thought process on why I do changes in my portfolio.

First Decision : Remove HRnetGroup(CHZ.SI)

Never could remember which is cap in the name ... (joking on the remove reason but is real I could not remember). I was finding option to reduce my counters and this came up. I like the story of the company but the stock just refuse to move (see link is at bottom of bubble) . Soon I realize this is not my type of stock. Another reason i could squeeze myself to think of just to make myself happy is that is buying up companies the right option for their type of businesses. Will they have moat and withholding power of their clients ? I could be wrong and stock shoot up after but I can live with it.

Second Decision : Remove Mapletree Com Tr(N2IU.SI)

The yield comes down to low 5%. There are no catalyst coming. I got enough capital gains. With CMT, FCT and Mapletree NAC Tr, I don't see a need for another Mall-like reit taking another spot in my portfolio.

Third Decision : Add Sheng Siong(OV8.SI)

This SS has been with me in and out for at least 5 years. Always bring me good luck kopi money. This supermarket player is simply well-managed at least on reporting front. The boss has the passion in him. I miss this counter so much after last sold at lower price than I I bought back some recently. Yes in love with it but I aren't irrational. So I come in again at smaller amount. If there is a SME counter to occupy a place, I want SS. China play seems minor so far. I will need to understand better but this won't my decision.

Fourth Decision : Add UOB(U11.SI)

I got enough exposure to OCBC and STI Index. Regardless every time Index move up, my performance still lag behind. One fix is to add more financial stock so I choose UOB. Sadly, DBS could have been better from recent reporting events. Nevertheless, the size is testing water. I have the understanding that DBS is higher up due to deliberate higher dividends given which could suffer if there is a change for lower later whereas OCBC and UOB have been a little conservative. Hope they do us proud....

5th Decision : Add more Ascendas-hTrust(Q1P.SI)

Got good gains from earlier investment. I still feel it has some more legs to go else if it go much lower I could consider to acquire bigger amount. Since it go higher, I decided to average up a little. The yield is pretty decent for seems like good acquisition by the management. I would be surprise to see poor results for next few reporting but we never can guaranteed therefore I demand better yield which it has. The market seems to have undervalue it.

Cory

2019-0226