“I have always found it profitable to study my mistakes” – from Reminiscences of a Stock Operator
“Those who do not learn from history are doomed to repeat it” – George Santayana
With that in mind, I decided that it would be a good opportunity to review my losses after investing in Singapore stocks for 3 years. Since tuition fees have already been paid, it would be wise to learn the lessons and avoid making the same mistakes.
1) Lippomalls [Loss: -3.50%]
My first Singapore stock. Classic value trap. Picked this counter because it was providing one of the highest dividend yields amongst Retail REITs. Earnings and DPUs declined subsequently due to unfavourable weakening of the Indonesian Rupiah relative to the Singapore Dollar causing the once high dividend yield to fall to more realistic levels. Fortunate to realise the mistake and cut losses early.
2) BreadTalk [Loss: -20.37%]