Showing posts from November, 2015

Accordia Golf Trust - The Next Post

The reaction to my first post about Accordia Golf Trust was great. Here are some of the comments I received: "I dont think the calculation for the dividends is correct. I think you are taking trailing 9 months plus 6 months" "Going forward, the FY16 DPU may drop to 4.64c..." "Q3 is low season (winter)... and Q4 make up the balance. This is probably the 'worst' case scenario." "Oct number is quite high. 554k visitors. 2nd highest for year so far. So maybe no need to be too pessimistic also." "Sounds about just right. I was forecasting more than 10% yield when i entered at 64 cents back then. 8.9% for such a unique foreign reit doesnt seem to be compensate enough for the risk." Numbers for the Trust: 15 Months - Total Dividend given = 0.0571 + 0.0232 = 0.0803 Annualized Amount - 0.0803 / 15 x 12 = 0.06424 Dividend Yield (based on my average price of 0.719) - 8.93% Based on latest 6 months dividend - 0.0232

Accordia Golf Trust - Can Dividend Yield Be Maintain?

Update: Dividend is given out on a 15 months basis. So the total dividend should be 0.0803/15x12 = 0.06424. I am currently sitting on a big paper loss on Accordia Golf Trust due to its continuous fall in price. My average price is around 0.719 and the current price is 0.590. I bought this stock mainly for the dividend yield and the price has fallen quite a bit since the IPO. Furthermore, I feel that its business is great. There will always be people playing golf and the business will not be gone in a while. So I am very confused if I should continue to hold on to them? After some thinking... this is my conclusion... 1. I bought the stock mainly for dividend yield - My dividend yield this year is 8.93% (0.06424/0.719). WOW! 2. Dividend Stocks do not become a "falling knife", esp in Singapore, if it can maintain a certain yield. Singaporeans love Dividend Stocks. 3. In the long run, if the dividend do not drop drastically, the price will stabilized eventually and the di

"The Market Is Irrational"

I had a chat with a reader recently. He finds it very hard to invest in Singapore Stocks, because the stock prices does not move according to the expected reaction of the news. Some examples he quoted are: 1. Interest Rate Hike in the coming December - The day the fed gave strong hints that there will be interest rate hike in coming December, all stocks rise the next day. Why? (He expected the stocks to drop). 2. US$ strength will impact on commodities stocks - But the stocks will rise instead at times. Why? 3. Company report good financials but the stock price hardly move. Why? I gave him a few reasons why the stocks move differently. However, after thinking it through, the only thing I believe is true is " The Market Is Irrational ". This is because the market is make up of 3 different types of "players" - BBs, Traders and Investors . For BBs, you will never know why they buy or sell a stock unless you know the people inside. For Traders, they look at mom

The Value Portfolio - Recent Actions and Views - Post 4

Another update on my portfolio: 1) ISDN Holding Limited + Post 2 2) Sin Ghee Huat Corporation Limited 3) PNE Industries Limited 4) Chuan Hup Holding Limited 5) LHT Holdings Limited 6) TTJ Holdings Limited 7) Accordia Golf Trust 8) Singapore Telecommunications Limited 9) Sapphire Corporation Limited 10) Suntec Real Estate Inv Trust 11) Oversea-Chinese Banking Corporation 12) CH Offshore Ltd 13) Maxi-Cash Financial Services Corp Ltd 14) ST Engineering Ltd 15) Bukit Sembawang Estates Ltd + Post 2 16) PSL Holding Ltd 17) M1 Limited 18) Hock Lian Seng Holding Ltd Delist Macquarie International Infrastructure Fund - This fund was delisted completely as stated in my post previously. Bought PSL Holding Ltd - The company is going through restructuring and its net current asset value is significantly higher than the current price, This restructuring will be the catalyst for the future rise in price (hopefully). Take this as a punt. Bought M1 Limited - Yes, I bought

Triple S Scorecard (Previously named as V Scorecard)

Warning: This will be an extremely long post. Updated: The Scorecard has been rename from "V Scorecard" to "Triple S Scorecard" After 1 month of reading plus 2 weeks of using my "after office hours free time", I managed to create my new value scorecard - which I renamed as "V Scorecard" (sounds more atas right?). This idea came about because I felt my previous scorecard is not complete and focused more on earnings than balance sheet (which is not really in line with value investing). I wanted to do some coaching as well, so I felt a more informative scorecard is required (not that I think I am super good. My portfolio is down about 5% in general this year.). I also realized the previous scorecard is also quite tedious on retrieving information and lazy people will be turned off by it. Thus, a more informative scorecard with minimal input is sought after. Information which I gather from, for the V scorecard, was stated in m

New Value Stock Scorecard - An Update

Hi all, I have finished part of the job - finding the criteria for all the new value stock scorecard and creating in a hardcopy excel file (with part of the formulas done). The criteria is gathered from:  - Show me the money book 1 and book 2 by Teh Hooi Ling.  - Value Investing: Tools and Techniques for Intelligent Investment by James Montier.  - Investment Moats Post  - Net Net Hunter Scorecard  - Valuewalk Post But I have yet to test it against any shares. Thus, without knowing if it will work, I will not be sending out any scorecard to you. Hopefully I will be sending you by end of the week. If you have any stocks you like to me test, comment below!

A Case of Winning and Miss Opportunity

I know I am suppose to be on hiatus but I felt I had to write about this. While everyone is looking at Saizen REIT, First REIT and Jumbo IPO, I will be telling you about 2 "Unknowns" and how it has affected me. Firstly I must say the post by AK about Saizen Reit is very good. The post by Brian on  First Reit was a very good piece of analysis. As for Jumbo IPO, I really like this analysis from investment moats . Anyway back to the unknowns... The first one was a case of being too particular with the dollars and cents and missing out. Have you heard of Zagro Asia Ltd? One of my friend that I was trying to tell this story to last night ask me, "Zagro WHAT?" This company is one that manufacture and distribute healthcare products for livestock, poultry, aquatic animals and crops.  If you are scratching your head, I can understand. Yes, these companies exist. To cut the story short, my screening caught this stock and I went deeper into it. I found that it has a

Hiatus till 8 Nov ~ On a Mission

I am on a mission to make a better Value Stock Scorecard. After reading "Show Me The Money", I will be taking a break to make major changes to The Value Stock Scorecard. All those that had requested for my Value Scorecard previously will be automatically sent a new copy. I will also review if my previous stock are still value stock. Hope to have a more powerful scorecard catered for Singapore Stocks.