January was an active start as my equities portfolio received a cash injection from my side business (I only take payout once annually after full year accounting), I quickly put the cash to work by adding more ST Engineering (near 2 year low) as well as initiating a new position in ARA Asset Management (near 1 year low). I have mentioned ARA a couple of times before on my blog, its in the business of asset management, mainly as managers of REITS as well as private property funds, this provides shareholders will a regular stream of very predictable management fees. Strangely the price had fallen close to 10% over the last 12 months while earnings for FY14 looks to be solid as they are expected to make over 10 cents per share, an all time high. However at over 15 times earnings with a dividend yield of 3%, I believe ......