Updates on Sales and Purchase in June 2022

Just updating my sales and purchases made in June

Have sold the following

- Micron -- sold half of my stake in mid-June to reduce risk of lower prices in downturn. Turns out that this move is correct now, as Micron share price falls after it provides lower guidance

- HRNet -- sold half of my stake in mid-June to raise cash. 

- Prosus -- sold all my stake, after its share price rises, as it is selling Tencent to buy its own stocks. I buy Prosus mainly for its Tencent stake. Took at loss here. But as my Tencent stake is a significant proportion of my portfolio, selling Prosus is a good chance for me to reduce concentration. I am keeping Tencent position for now. (Tencent position is a loss-making position; average buy price is $450)

Bought the following. Most are smallish position, except CNOOC

-- OXY, Rex Intl and CNOOC. They are bought as hedge. Rex Intl was bought at 0.345, so it was a loss making position. CNOOC bought due to its dividend. OXY was a Warren Buffet purchase

--United Hampshire Reit.  Buy mainly due to its high dividend yield and properties mainly in US (USD is getting stronger as interest rate rises). I will skip Euro-based Reits for now, as euro is getting weaker.

-- WBD. It's a recent merger between Warner Bro and Discovery. It has good content (e.g. DC Comics) and good distribution channel from Discovery. Down-side is that it has high debt. Thesis is that it will have cashflow to reduce its debt in next 2-3 years and market will re-rate it, as its balance sheet improves.

-- YFH Financial. Bought at $0.43. It's a value play with price-to-book of 0.4x. Its directors are buying. Downside is that it owns China debt/loans which are opaque. 

Moving forward, I am still waiting for market to go lower, to hit my buy prices of various stocks / ETFs before buying smallish position. My personal view is that this bear market has legs to run.