There really is so much in my head that i wish to write about, but i don’t know how to write them in a coherent and TLDR manner. In any case, i would just like to say that this market has got me going bonkers!
When the markets were at its lowest in March 2020, i stayed away and promised myself that i would be patient as i knew, and foresaw that the situation was going to be much worse than it already was.
Nevertheless, the unprecedented rally that followed next baffled me and i thus threw away all my common sense. I gave in to euphoria and the fear of missing out, as such i bought many counters which i will soon talk about. Funny enough, each time i made a buy transaction, there was this small voice telling me that it was still too soon and too early, if only i had listened!
Fast forward to where we are now, the rally has ceased and for the past 2 weeks, markets have been edging down due to a second wave of infections across the world, especially in the US.
I like to think of myself as a long-term investor, but these past 2 months have clearly shown me that i have not learned to be one. I like to think of myself as someone who can control his emotional buy and sells well, but my recent transactions have proved me wrong as well. Although i am sitting on a pile of regret, there is something in me that believes the counters i currently hold are stable, healthy ones that in the long-term will pay off (maybe im delusional).
I made 11 buy transactions in the past 2 months, of which only 1 felt right and paid off. I can manage just about 1 or 2 more buy transactions before i deplete my warchest.
Bought Capitaland at $2.97 – This was well analysed by myself back in April, but i am surprised and disappointed that its been dropping steadily. I am looking to accumulate if possible at $2.80.
Bought Manulife REIT at $0.705 – one of my favorite counters. Strong DPU, steady growth, good gearing, healthy financials. I am just worried about the current deteriorating situation in the US as well as the 100% exposure to the US market. Nevertheless, WALE is good and i am confident of MUST in the long run too.
Bought American Express at $85 – reached $113 but greed prevented me from selling and i thus sold it at $109 for a small profit.
Bought ST Engineering at $3.1 – another favourite counter, it is what i would call a staple. Shame it dropped from 3.5 last week to 3.2 now. If it falls below $3.10, i will definitely accumulate.
Bought United Hampshire Reit at $0.58 – averaged down to a current average price of $0.76, which is not even the 52 week high level due to the steep drop right after its IPO. I love the portfolio and the tenants of this *recession proof* stock, however i clearly signed up at the wrong period and am sitting on a big loss. This i have no doubt i would have to hold for at least another 3 years before i can make some profit.
Bought Singtel at $2.49 – averaged down to a price of $3.2, which is still too much higher (i first bought it at $3.84 3 years back). A company that i have lots of respect for, at this point i am certain i will have to hold it for also another 3 years minimum. Ill treat it as a dividend machine in my portfolio.
Bought OCBC at $9.10 – this is obviously a long-term play. Looking to accumulate at $8.50.
Bought Citigroup at $60 and subsequently at $51.50 – now this is a transaction that i have been beating myself up over. When the markets were rallying quickly 3 weeks back, i bought into the euphoria and let my emotions took over. I FOMOed and quickly bought Citi at a high of $60, before realizing my mistake and averaging down to $57.
Bought Capitacom at $1.88 – This was a day after Citi, and i did the same emotional mistake as i had with Citi. Looking to average down/ hold for the long term and await merger news with capitamall trust.
Bought IBM at $122 – this is my latest buy that i like, albeit a little too early as it is currently $116. Im in this for the long run and i see great potential in IBM. + the dividend is great as well. Cloud is the future 🙂
TLDR, i am currently $70,000 invested in equities and am sitting on a -13% loss. Paper loss no doubt worries and pains me, but with 2 years to graduation and probably 3 to marriage, i am confident of being able to hold these counters for at least the next 3 years. To me, most or all of them are strong companies with good records that i am confident will be able to tide through this COVID-19 situation.
What do you guys think? Please do not hesitate to throw out any advice/opinions!