Aug 2, 2020

Cory Diary : Trying to be Optimistic

To be frank I was kind of frustrated this week. 

Ascendas Reit ( Must have Stock for Dividend Player which I blogged previously) continues to run up this week to another all time high after selling half my position because I do not think market sentiment can be so exhilarating. I could have a couple of grands more.

I also decided to clear Ascendas-iTrust batch for a quick trade forgetting the result is coming up at the end of the day. It did a good price jump the next day to my dismay. What am I thinking ? Which probably cost me another grand.

MAS also announced 60% cap of bank dividends for Year 2020 to my surprise despite the banks are well within their capacity to provide more. This will decrease my dividend by a mile. This dividend cap affects market sentiment and the moment I bought MCT, the counter starts its correction.

Hong Kong virus situation hits another waves and social distancing is reimposed. This affects MNAC operation which show no emotion in reflecting into the stock price. This is bad because I just bought another batch for the yield. 

To top it off, PRC Covid-19 cases start climbing and CRCT weaken some for me to scope a batch of stocks. As I was deliberating to sell days after as there is a little gain in the backdrop of the broad market weakness, I did not execute it at that moment. The price then move to negative territory. .. ...

Not forgetting my Diary subject line, 


I manage to sell a batch of Ascendas Reit at $3.62 on ex-dividend day and bought back at $3.53 before the day ends. I am still not yet near my original allocation though since I first sold.

As for Ascendas-iTrust, the price weakened, and the delta is now within a few days fluctuation. Don't feel so bad now considering I have fewer counters to manage, and cash raised.

MAS calls for dividend cap put a dent on my dividends this year as Banks are core position in my portfolio. It could have been worst like Banks in UK where they could not distribute even a single cent for Year 2020.  With the reduced dividend from SG Banks, this put my investment at lower risk in current Covid Climate. I am not perfectly happy for the exchange but nonetheless there is some positives out of it at a time when many businesses are struggling.

Company like SIA with state support and major rights issue, I am not sure is sufficient as market speculation is Year 2024 full recovery. People who still buy a stake in it, i salute you for your "National Service" but I think valuation can be create or destroy out of thin air and not with our Real Money in such circumstances. Is just passing of wealth from one investor to another that's all.

The HK government has relaxed their Covid measures probably due to business pressure, and my stake in MNAC is smallish. But I feel personally in such congested location, Malls are the way to go when we recover so the future is what we should think about. Same applies to CRCT on yield front. So I am ok to hold on for cash flow for long term play in a diminishing yield portfolio..

Lastly,  MCT purchases are at relative low price. Despite the price went lower after, feel serene that I am able to hold another Maple counter after I sold this last year. Long term likely hard to go wrong.



What an unforgettable  week ! Key lesson is as blogged earlier that we need to diversify as a retailer and whatever largest holding we have, expect the unexpected.



Cory
2020-0802



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