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.
Their business also badly affected by shipping line’s action to deploy ships direct to other new ports ( from Xiemen to Ningbo ) which reduce the transshipment volume tremendously.
By hindsight , this is a classic case of “value trap “ if one just base on “dividend yield “ as indicator to buy.
My Trade on HPH Trust
As you may see from my portfolio that I like : D ( Dividend ) very much and most of the stocks in my portfolio are having decent dividend yield. Hence, I myself have fallen into such “value trap “ by investing in HPH since 2012. I have done few trade on this counter and still end up with lost of -$7,409.99 in invested capital before taking into consideration of dividend received.
Below is my trade detail of HPH :
With XIRR of 3.7% (including dividend ) , I think this is like just matching long term bond rate and can’t even beat the CPF SA rate and I sure many investors who have same experience as me that end up with meagre return or even worse still with loss till date.
I am happy with my divestment that still generate positive return at the end of the day and will take advantage on some short term trading if price drop drastically which may see value emerge due to oversold.
FYI , both DBS and OCBC are having similar price target of USD0.42 with “ Hold “ rating . ( you may find the detail analysis here )
Do you have this so call “ blue chip “ in your portfolio ? and what is your YTD return or even target price to cut loss or take profit ?
“There is no such thing as a “Value Trap”. There are investing mistakes. “ by Mohnish Pabrai