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HPH Trust : 一只让人又爱又恨的蓝筹股

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HPH Trust has been one of the worst performer blue chips within the STI Index component. It has created a hype during IPO in 2011 where investors being attracted with high dividend yield and promising growth story of China’s export and full potential of containerization.
But the reality was that, with the increasing and fierce competition from surrounding port along Pearl River Delta , couple with prolong slump in shipping industry in its secular down cycles, the result is reflected in current stock price of -60% down since IPO.

Looking at Stock Market as A “Complex Adaptive System “

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One of my favorite book other than “ Game and Chaos Theory “ is this called “ Complex Adaptive Systems : An Introduction to Computational Models of Social Life , by John H. Miller and Scott E. Page “.
What is “ Complex Adaptive System “  and why is it so important to understand the stocks market ? other than “behavioral or psychological “ aspect of market.
We often look at the things or world as “linear “ and has a very clear “cause and effect “ relationship. The bulk of economics studies is based on equilibrium systems: for example, a balance between supply and demand, risk and reward, price and quantity, this view stems from the idea that economics is a science similar to Newtonian physics, with an identifiable link between cause and effect and implied predictability. When the equilibrium system is hit by an exogenous shock, it absorbs the shock and returns to an equilibrium state.

2nd Qtr 2017 : Dividend and Portfolio Update

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The last company in my holding “ Accordia Golf Trust “ announced the result and dividend on 25th May while I was still busy catching “Pokemon “ . Is time to calculate and tabulate my dividend & interest income to be received in coming months for 2nd Qtr 2017 .
Total Dividend & Interest Income for 2nd Qtr 2017 = $62,964.11
** Total amount receive still about $972 lower than last year (same period ) due to lower dividend from Accordia Golf Trust which reduced by - $1940.4  ( DPU 4.31 cts in 2nd Qtr 2016 vs 3.59 cts in 2017 ) . *** Most of the REITs and Blue Chips also declaring lower dividends in view of challenging business environment, especially Oil & Gas sectors and Telco. **** Increasing my holding in corporate bond from cash received, resulting an increase of interest income from $465 in 2nd Qtr 2016 to $5102.67 in 2nd Qtr 2017.

STE Smart Beta Update and Photos Sharing

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It has been quite sometimes since my last update of STE Smart Beta Index which was created on 28 Aug 2016 ( here) and Yah !! Just for Fun  J
STE SM Index beat the STI Index by just 2 % points and if take into consideration of dividend yield where it has been set higher than STI by around 1.5% , total return could be around 3.5 % .
 I will need to do the portfolio re-balancing in Aug 2017 after 1 year of inception and I think since the market has been very bullishrecently , it has become very difficult to find counters which have PE <10 or Div Yield >5% among STI's components. Base on my observation, total counter should drop to eight only as per current stocks price and market valuation.

A Tale of Diversification ( Part 2 )

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In previous blog post , I have shared my experience of diversification into Telcos and O&G industries which is still sitting on paper loss of more than - $12 K (here ). In today’s part 2 , I am going to further elaborate my story of diversification into banking sector since 2016.
Some may still vividly remember that banking stocks has been beaten-down in end 2015 and early 2016 due to market’s projection on slow-down in China’s economy as well as others emerging market ( BRICs ).

A Tale of Diversification ( Part 1 )

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As you may notice from my portfolio (here) which is very much skewed toward high yield counters like REITs and Business Trust. I would recognize and think that this is not good  in the long run as asset concentration in just one or two sectors in my portfolio , as such , I try to diversify and accumulate some non-REIT or Business Trust counters when situation allow.
I have picked up some stocks like Telcos , Banks and Conglomerate since 2014 and of course every industries has their cycle and challenges , some of my investment turned out be in lost and some in profit. Always remembers that in any investment,” sometime we win , sometime we lose “ , and business profitability is really unpredictable as market move in cycles.

Do You Look At Management Fee in Selecting Which REIT to Invest ?

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We do understand that most of the time, "yield" is the main consideration for investors to invest in REIT and of course other than P/NAV , gearing , interest coverage ratio, asset quality , occupancy rate etc.
Other than normal property expenses such as interest & finance cost and operating expenses , management fee is also the major cost for a REIT.  How often do we really look at the management fees as one of the criteria in selecting a REIT to invest ?
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