Cory Diary : Portfolio Equity Map After Omicron

Past few days have been quite humbling. The correction seen on the Market and specially Banks are quite significant. When we look back at my previous post ( link )on 24th Nov about Capital Preservation, I just feel the market has something up it's sleeves. Indeed it has with Omicron. Well the good news is that it is mild so far. And if stays so and prevalent, it could be the end of Covid Era. A natural immunization across the world population against Covid. Will this materialize is yet to be seen but probably considering Spanish flu kind of disappear after 2 years too in a world that do not have vaccine.

So with the move on preservation, I do "Saved" my US portfolio. However not significant is done on Asia Equity. For Chinese shares, fortunately I have decided to remove HST, and Tencent reduced as the more I think about Gov persistent "fixing" of private company is bad for capitalism ideas therefore bad for HK Stock Market. Self-serving shooting on own foot borders insanity just like Cultural Revolution which is a misnomer because Cultural do get destroyed. Will this implied Economic Revolution kills the Economy too ? Time will tell. I wish my Chinese friends good luck as I still have Alibaba invested with them. Still holding the last flame of hope in them.

Above Current Portfolio allocation. 18 stocks. Walked through each of SG stocks allocation today again and there is nothing I am not happy about except the market price. haha. Each size allocation balanced against my fear. So there seem nothing I need to tweak. Glad to build back some shares in DBS during the sell down before it went back up due to Fed. Rising rate is good for bank so it is kind of counter balance when the market goes berserk. Maybe we need MSCI to thank for driving the bank price low by their rebalancing to SEA. Kind of damaging moves to their client imo.

Now with balance 8.6% investment fund, I could deploy in either in US or SG markets. I have come back just a little bit in META and AMD earlier. Now, with Fed hawkish, and Omicron fear fading, it looks like tapering will happen in a faster pace follow by rate rise. This is bad for growth stock specially money losing ones. And this probably explain why SEA, PLTR and GRAB won't do well. Dividend stocks wise I have enough for Year 2022. I could get more but I want to have some bang in the buck and probably TESLA and AMD if I could get good pricing.

Current profit yield at 9.8% YTD which is performing slightly above STI. Dividend planned for Year 2022 is roughly 64k. Let's see how much Bonus I will get ....

Cory

2021-0213

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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) 


Cheers

Cory
2019-1101

Cory Diary : Trading - Span of Control In-Check

Sold Frasers L&I Tr - This is particular interesting sale because nothing much has changed for the company other than the stock price moved up quite a bit from beginning of year at $1.03. I only found out when someone blogged about it that he had sold and decided to investigate. The chart looks like a spike up "W-shaped". Since I am in the process of counter reduction, this looks like no brainier to sell too for me considering I have Ascendas and Maple Ind. Tr in industrial segment.  

For the dividends replacement of which it provides more than 6.5% yield. I have the proceed splits across 3 Reits namely FCT, Mapletree NAC Tr and Ascendas-h Tr.  FCT doesn't really cut it from 5.3% yield perspective but since I have no plan to sell my existing small FCT in my portfolio it maybe worth my time to up it on the current price dip.  The later two averaged up too. They have good yield and I am investing in hospitality that Asia will remains vibrant and keep growing.

One thing to note is that Frasers L&I Tr do not distribute dividend last quarter reporting as it is on half yearly basis. This re-balance requires 4 trades to execute. Kind of costly but I feel necessary as the risk is getting higher for Fraser L&I Tr with the recent run-up compared to others and I do not want to over burden specific averaged up counters.

On another separate note, I sold Neratel as well with recent result announcement. This use to be a hot VB counter. Took me too long to cut-it. Though I am net positive, opportunity cost is still painful. After this sale, this helps to reduce my span of control further.  


Here's how the portfolio radar map looks like for those who are interested.

Cheers

Cory

2019-0307

Cory Diary : Investment Portfolio 2019-0104

Portfolio

As usual, my Investment Portfolio excludes tracking Pensions, SSB, Treasuries and Fixed Deposits. This setup is slightly higher up in Trusts/Reits allocation of 53%. I foresee waiting for market dips before increasing further. I have also reserved for a few positions for future acquisition in 2019.

There is nothing much to show on the bubble chart other than the yield expectation for start of year. A lot of overlapping. As the year past, this will probably scatter.

With 24 counters, seems I have my plate full. To most people this maybe too much. However I think is necessary for dividend diversification, and compensate for my selection weakness and emotions. Compared to my wife, she only has 2 stocks. One of them gained 4 times in 2 years. She is clearly on different worlds.

In 2019, I hope not to see drastic change in my portfolio.I have the same hope when I started last year. So ....


Cory
2019-0104