Yesterday, I mentioned that I have sold a local construction play. I did not mention the name of this local construction stock as I was still pondering over whether I should tell readers the name of this stock. For, I have in a blog post mentioned that I am into “long position” for the stock as I believe in the long-term prospects of the company. This stock is Yongnam stock. I sold Yongnam stock yesterday before a local bank gave an unimpressive analysis of Yongnam stock and put the stock’s fair value at $0.24; this is the price which I have paid for Yongnam. I sold Yongnam stock at $0.255, making a respectable 6.25% profit margin. I agree with the bank analysis that Yongnam stock is probably fairly valued at more or less $0.25 to $0.26 as its Net Asset Value is around that price ......
