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Capital Preservation Mode

Today i am in a capital preservation mode.

I just counted my lucky stars for getting out of Asian Pay Television Trust safely. Despite my own initial "chopped chilli" rating, i was swayed by the somewhat "improved sentiments" and decide to "punt" the IPO and against all odds, actually managed to get 36 lots from ATM and amazingly i actually got out for a small profit of ~$1,060. 

I am quite glad that my decision to punt the IPO didn't affect the majority of the readers since i made up my mind only about 1hr before the application closes. On hindsight, the risk reward is just not worth the effort and i should not have done this. I should just have told my broker to allocate my 1 lot from placement to someone else. Having said that, if the price has opened below water, i would have cut my losses in any case. Lesson to share - when in doubt just stay away (as kindly pointed out by one facebook reader :P). 

M1


I decided to take profit on M1 at $3.22 today. I have been contemplating it for a while but today just gave me the perfect excuse to do it. The yield has dropped below 4% and the PE is now more than 20x. In any case, it is overvalued. My entry post was here and my only 'regret' was that i should have done it last week when i first thought about it.

Far East Hospitality Trust


Again, my regret was not taking profit earlier. I should have sold when 110 gave way under usual circumstances but as it is (no excuse) i was in big Apple when the support breaks. haha

Ascott REIT


Similarly i divested this counter as i reduce my exposure to the market. REITs have being coming under a reality check, and i reckon i can switch to some interesting counters if market drops further.

Mapletree Greater China Trust


I sold this counter today from my cash portfolio. Some of you have been tracking my position, so i will just share that with you. 

I will share with you what i think of the market in a weekend post. I am rushing for work and catching a flight for a business trip.

Talk to you shortly. :)

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