Showing posts from 2011

Two Sales

Recently, I sold my full positions in Qingmei and Techcomp.
Qingmei is sold, because reports on buzhida and Qingmei makes me uncomfortable.
Techcomp is sold, because its profits may be dented by the HK listing fees and Europe fiscal woes.
The stock sales incidentally help me to build up a sizeable cash pile, which enables me to buy some stocks (e.g. Eratat) last week.
Given the present market uncertainty, I will buy bit by bit as the prices fall further.
The Psy-Fi Blog has an interesting piece on buying during panics: "investing in falling markets is mentally extremely difficult and requires diligent preparation... the tendency to wait for a better opportunity, which can lead to missing the chance altogether... the time to buy is never right: you don’t buy on the way down, because stocks will be cheaper tomorrow, and you don’t buy on the way up, because you’ve anchored on the lower price."

Portfolio as at end-June 2011

My portfolio as at 1 July consists of the following stocks: AIMSAMPREIT, Eratat, Heeton, Hongwei, Leader Environment, Qingmei, Sabana and Techcomp

Sold: China Taisan
China Taisan is sold due to its poor Q1 results.

Bought: Sabana Reit
Intiate a stake in Sabana as it provides around 9.5% dividend yield.

Added: Qingmei, Leader Environment, Heeton and Eratat,
Leader is added after its good Q1 results. Qingmei is added a few times at various price points as its price slides. Eratat is added twice recently when its price goes below $0.18. Both Eratat and Qingmei are added because the lowered prices offer better value to me.

I have re-purchased a portion of the Heeton shares that I have sold earlier, as I think that the government measures may not have that large impact on high-end property prices. In view of possible new government measures, I have not bought more property stocks. As the CEO has personally bought more Heeton shares recently, hopefully this counter will turn out well.

Portfolio com…

Portfolio as at End March 2011

My portfolio, as at end March 2011, consist of the following stocks:
AIMSAMPREIT, China Taisan, Eratat, Heeton, Hongwei, Leader Environment, Qingmei, Techcomp
Bought and Sold: Heeton, Hiap Hoe, China FibreTech, Broadway Added to my holdings in Heeton and Hiap Hoe. Sold large position of Heeton and the whole position in Hiap Hoe after the government cooling measures. Broadway was bought under the thought that its price may increase, as the sentiment on HDD improves. Later, I abandon this thought and sold Broadway at a loss. Bought China FibreTech as a value play trading below cash. After the accounting incident on Hongxing and Hongwei, I become prudent. In addition, China FibreTech has an insider share sale probably in 2010. Both factors help me to decide to sell the entire stake in China FibreTech.
Sold: Guocoleisure, Eratat Sold Guocoleisure as I think that it is too slow-moving. Reduce my Eratat position by a fifth, as I do not like its share placement. I did not dispose the full positio…

Market on Sale

Falling prices. Posts on dread and losses on the forums. I losing money.
However, I am feeling excited .. excited by the low prices. There is a sale going on in the market. The discount may get larger in the coming days, or it may narrow.
But I think that the sale will end someday. The prices will get dearer someday.
Meanwhile, I am browsing the stocks more closely, seeing if the discount will get larger. Hopefully, I will be able to deploy my savings before the discount window closes. After all, it is a waste not to profit from sales.

Most Valuable Books

This post was created 5 years ago in Feb 2011. Apr 2017: Updated with 4 books _________________ In my early investing years, I have devoured many investing books to improve my investing knowledge and to obtain more information so that I can settle down to a suitable style of investing. Below are the books that I find most valuable.
Psychology I personally find psychology the most important element in investing. Investment Psychology Explained by Martin Pring Trade Your Way to Financial Freedom by Van Tharp The Winning Investment Habits of Warren Buffett & George Soros by Mark Tier The Art of Execution by Lee Freeman-Shor  [added in Apr 2017]
Fundamental Investing These books provide the value investing philosophy, thinking and a bit of tools. The Intelligent Investor by Benjamin Graham Common Stocks and Uncommon Profit by Philip Fisher Value Investing A Balanced Approach by Martin Whitman The Only Three Questions That Count by Ken Fisher The Dhandho Investor by Monish Prabrai Deep …

Portfolio as at end Dec 2010

My portfolio, as at end Dec 2010, contains the following stocks:
Guocoleisure, Eratat, Heeton, Hiap Hoe, Techcomp, Qingmei
Sold: Valutronics, Roxy, Bright World, Ziwo Bright World is sold at its mid-30s cents before its rise to 50 cents. All the stocks are sold to raise cash to buy other stocks.
Bought and Sold: China Gaoxian (GX), Hotung Have bought GX in October and dispose the entire position in late December at lower than 35 cents. Missed GX's run-up to 40+ cents. Hotung is a short-term play, which was bought at 12 cents and sold at 14 cents.
Bought: Guocoleisure and Qingmei Guocoleisure is bought due to the presence of insider's purchase. Qingmei is bought after it is ex-dividend, and due to its low PER.
Added: Eratat, Heeton Have bought more Eratat and Heeton shares, since both counters are relatively more undervalued as they have not run up as far as GX.
Portfolio Composition Eratat is my largest holding as at Dec 2010, while Qingmei has become my second largest holding. Heet…

Book Review: The Age of the Infovore

Book Review: The Age of the Infovore‘The Age of the Infovore’ is written by Tyler Cowen, an economics professor. The book is available in NLB.This book is thought-provoking but frustrating to read. The book belongs to those categories of books that read like a boomerang. That is, the book does not conclude or drill down to a few points. Rather, it keeps on expanding your perspective. The book may be easier on the mind, if the author treats each chapter as separate pieces and not as pieces relating to autistic strengths.Anyway, the interesting points:a) Autism’s cognitive strengths include:i) strong in ordering knowledge in preferred domainsii) strong in observing small pieces of information in preferred domainsb) These strengths are relevant to our internet world, when we see that large amounts of information are being ordered and processed to meaningful bits. For example, our favourite bookmakrs, Google search, Facebook, Twitter etc.c) When access is easy, we prefer the short, small …