In my previous post about a month ago, I mentioned that I am in the midst of building up some cash holdings (original article here) as I feel the market is somewhat overheated and is due for a correction. I continue reducing my portfolio and in particular for Reits as I feel they are currently in a sector that are exposed to the highest risk (rising interest rate) coupled with an over-valuations (in terms of yield and P/BV) as a whole. I’ll explain this in greater detail later.

I have reduced my holdings in FraserCenterPoint Trust (FCT) by selling off 6,000 shares this morning at a price of $2.05. FCT still remains one of my core holdings at 24,000 shares left in the portfolio. Those who has followed my blog from the beginning will know that FCT has been my baby counter right from the beginning when I …