Cory Diary : Bubble Chart 2018-1214

Just drawn up this chart. Pretty exciting on the new look of my portfolio. They looks like planetary system. The vertical axis is the Profit/Loss from the investment. The horizontal axis is the estimated dividend yield of the counter.The bubble size is the investment size. There are 3 dividend exceptions which belong to US Market that I do not track therefore zero out. Take me some time to get the labels and colors right due to overlapping.

From the chart, I can tell CMT has a run away whereas Singtel tanks. Maybe that's why I start partial profit taking. I can tell the outliers whether I should pay more attention to them by size such as Neratel. This is a bear market scenario so I am glad there is no congestion on the lower half of the chart

Not sure there is more reading to pick from it. Let me know.


Cory
2018-1214

Cory Diary : Investment Tracker 2018 - 1209

General Plan

Still in the process of fine-tuning my portfolio for 2019. Like to plan for at least (updated for privacy) dividends and then try to push them higher up during the course of the year if possible.That's mean reserving specific amount of warchest.

I am also trying to minimize any potentials mines through re-balancing of profitable counters and getting my portfolio to be more robust. Once is all done, hopefully I can present my updated counters in later articles.

Cory

2018-1209

Cory Diary : Does NAV really Matters in Dividend Investing ?

Often I hear people uses NAV to gauge investment merits. Is a good metric but should never be the only imo. This is based on my personal experience and logic. NAV is only meaningful if the underlying assets is not as productive as we think it should be and the valuation of the company is rather complicated to understand.

In dividend investing, especially reits, the business typically is the property income and the DPU. There aren't rocket science needed. Many reits today publish investor reports. We have good enough information. Ofcourse is still skew towards what Management like us to see. Who doesn't ? That doesn't mean we can condone.

If a company is returning 5% yield consistently. Does it matters to us if the Price/NAV is 1.3 or even 1.5 as an academic question ? The question in my mind will be sustainability of the dividends. The MOS of it's properties. The quality of the earning. The valuation of it's properties. This may explains why the high Price/NAV.

Now, with recent volatility of the market. If the yield of such asset shoots from 5% to 6%. Will you buy ? If the yield expects to drop from 5% to 3%, will I sell ? That depends due to price or reduced DPU. More a fundamental question. Recently I sold 25% of CMT due to price. My fear of losing out stable future dividends creeps in though just a little , 5% yield is not something i could find easily with similar alternative. This is clearly a capital gain trade with re-balance in mind. One could have said I still have 75% but that's not the point. The constant search for quality diversification is always there. Always on the move.


Cory

2018-1208