China Fishery Group

I have been mulling whether i have made the right investment in China Fishery Group for the last couple of weeks. It has been very frustrating because at the point where i was considering China Fishery, i was also thinking of buying CDL Hospitality Trust or Ascott Reit but alas, picked the wrong horse.

China Fishery really got on my nerves today by issuing debt again!  And i seriously doubt that with such bad cash flow mgmt, can they really meet the stable passive income which i am seeking for this portfolio. This 5% yield comes at a higher risk vis-a-vis the real estate or telco reits. Frankly, i wonder sometimes if the auditors or rating agencies actually visit the fishing vessels and the sites etc and i certainly hope they do as it is actually quite difficult to verify such assets.

Rather than have waiting for a rebound to take out my positions and despite all the analysts buy calls, i decided to pay some school fees and cut the position at 87. Of course i may be wrong but its time for me to move on.