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. Heeton is my third largest holding.

My 2010 portfolio return is 78%, which is roughly half of my 2009 return. My four most profitable stocks in 2010 are GX, Broadway, Techcomp and Eratat. I find it noteworthy that on a per unit basis, my portfolio unit price has surpassed its previous high in 2007. (Otherwise stated, my portfolio returns are computed using unit value method.)

In 2011, my return is likely to less than half of my 2010 return. Furthermore, I am likely to hold a higher cash level in 2011 given the higher valuations.

Lastly, I feel that property stocks holding high-ended property projects are likely to have good returns in 2011. Nonetheless, I will take this view with a pinch of salt, since I am not an expert in properties.


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