Author: CoryLogics

Cory Diary: Property

Visit a show room recently so thought i pen something to share from my learning just on this. Elsewhere maybe different as i am no property expert. Read this as my personal thought talking to myself and not advise. Room Size The show room units are truly well designed. Is a promise of future living. However rooms are really small if you are “HDB type”. And if you plan to wait longer so that it can grow bigger in future, we may need to accept it that is not going to happen even if price gets significantly lower. Decoration...

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Cory Diary: World of Warcraft (WOW) Online Economy

Every time when there’s a major patch in the WOW game, there will be new contents, game play change, new crafting materials and more character levels. In addition, the currency in the game using Gold coins will have suffer significant Inflation Spikes. Soon after several rounds of patches (analogy to Economic Cycles), ones will learn the pain of inflation and the obsolescence of old materials used in crafting or consumption. Few facts in the game. There’s aren’t property and coins are virtual (not backed). The best way to beat inflation is to work to provide service by helping to...

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Cor Diary : Gold Metal

Recently i have been trying to simplify my investment yet achieve the stability and diversification needed. Everything is up for review. Few things I did so far. – Increased by holding in STI ETF and Bond. – Sold DBS Preference Shares. – Sold significant portion of my USD and NTD – Build up some cash by taking profit on a number of run up stocks I could not find a suitable equity to re-balance into currently. Probably need to find an entry point some time later this year. Another area i am looking at is metal. Gold has been...

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Cory Diary : Falling Knives

In stock investment my thought is always about Capital Preservation. Thus, if we take care of the down side, we win mid to long term consistently. What does this actually means ? 1. Avoid landmines by not going into their field no matter how attractive it is     S-Chips, Commodity stocks 2. Management Integrity     Any listed companies screw me once (that works against minority shareholder), i will ban them for life 3. Industry Issue     A good example i think is shipbuilding/owner.A rather competitive industry which will stay that way. 4. Look for Reasonable Dividends...

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Cory Diary : Remembering Lee Kuan Yew

Watched the ST Video on Remembering LKY. My tears keep flow down throughout the hour long play. Maybe two … i dunno why. Mr Lee has been there throughout my life. I saw him once in real person faraway when Hougang Mall was first opened about 20 years ago i guess. Fifty meters away across the open central space from a level high. I was contented. Many things we have taken for granted today do not come by chance. English gives me a good job. We have a garden city. A safe country. A strong economy. And a credible...

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Cory Diary: Starhub Cash Flow

To start with, i have position in this and need to assess my risk level. With the AR just published is time to do a quick review.QvQ Results Rev up 5.1%, Profit 10.1%, FCF 48.7 M (tripled up) FY14 – FCF 333.3 M (~14% Increase) – Finance Expenses $22.6 M Annual Dividend : 20 cents (S$347 M) Borrowing : $687.5 M (~3.29% interests using Finance expenses) Shares : 1,733,188,000 “As at 31 December 2014, the Group’s cash and cash equivalents amounted to S$264.2 million, slightly lower than S$266.9 million a year ago.” Thoughts The increase in FCF means they could...

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Cory Diary: Reading up on Challenger

Notes taken as i read the AR. Three months Ended 31 Dec 2014 QvQ Comparison Revenue : 11% gains. 400k more profit than 2013. A nice 1.43 cents EPS from 1.32 on the backdrop of lower YoY. Do note that the full year revenue reduction actually comes from both Singapore and Malaysia geographical segments. A nice surprise that this Q beats prior year. Rental : Increased about 500K. A major cost on profitability. Operation: Stable inventory level and operation cash flow. Some capex investment noticeable. Management: Propose dividend of 1.25 cents. There’s indication management is well grasp of the business...

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Cory Diary : Perils of Currency Wars

Notice a dip in Singapore Dollar strength recently and took the opportunity to do some currency change. In fact i did one more yesterday. With the announcement of slower rate of strengthening, the first impression is we are on the same direction gradient path, just less steep. Relative to USD, we have been weakening for some time but not against currency like other Asian Currencies. Maybe is due more to the Euro$ weakening which S$ likely to have exposure too. Here’s my trades. S$76 is the saving if i have done my first trade a day later. Don’t get...

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Cory Diary : Portfolio Segments

Thanks to Tony Robbins new book called MONEY Master the Game: 7 Simple Steps to Financial Freedom, I get to know Ray Dalio. He has strong believe of 4 seasons portfolio that can weathers across the economic cycles at all times.Here’s the asset allocation that Dalio came up with for this strategy: 30% Stocks 40% Long-Term Bonds and 15% Intermediate-Term Bonds 7.5% Gold and 7.5% Commodities Here’s mine. Cory Portfolio Structured : Preference Shares and Bonds. Ray’s bond  ~55% in total. If i include relative higher fixed returns from  RMB and AUD, probably about 25-30% range which is about half from...

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Cory Diary : Excited of 2015 Entry

A number of bets in 2014 are for 2015. There are still some tasks to follow through. If everything works as planned, good performance at least in the 1st half of 2015 should be expected. Why I say that ? The Good News Low Oil Price will be good for the Economy. From automobile to plastics. America continues it recovery path and interest rate will be low. More lands are released for Industrial Purposes. Populations expect to continue to increase. With Property and COE at relatively lower level, larger saving will be churned for equity investments. The Bet Went...

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Cory Diary : Spending

One of the most darning task to me is to track my expenses. Tried a number of times to track it but just do not have the patience to continue despite being a fan of spreadsheet with the formulas everywhere to compute my investments and net worth almost instantaneously with currency fluctuation, equities, bank saving to pensions.I do spend little on myself materialistically. I do buy computers and gadgets occasionally. Some travels, books and gifts, relatively expensive restaurants, taxi, good massage and parental allowances…da da da de da. Then it dawn on me that since i have high saving...

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Cory Diary : Dividend Returns

When i started investing many years ago is for the gamble and earning quick money. I dabble in Warrants in the days when they are extremely popular. And made good money like $10K total in/out trading them despite my business work schedule. It was day where the market only knows how to climb. Danger of Warrants I did fell once where my “Tang” expired and went with my $1500 in smoke. I remember my broker screaming at me pondering whether i know what the hell it is, and i kind of laugh it off in my head. But i...

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Cory Diary : SEMBCORP IND

Oil ! Oil ! Oil! Crashed. Many people may have thank Saudi Arabia that we have an Oil Crisis except this time is for lower price. As a matter of fact, Shale Oil and Gas is the cause of main disruption with maturing technology that break OPEC monopoly who works in “cahoots” with few other key players that not always play fair.Is there gem right now ? Let’s me try to investigate SEMBCORP IND today. Capital Gain The worst SBI price is about 2.11 during 2008 Global Financial Crisis. This is not. A lower oil price is good for the...

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Cory Diary : Saizen Reit

In my quest for yield, a reit that caught my eye again is Saizen Reit. What’s interesting is the recent softening of it’s price due to the depreciation of the Yen mainly. 6 cents move is a year dividend … oh a little pain..Few questions come into my mind. Is there opportunity to gain/recover from this ? Impact to S$ returns “Hedged the distribution payments for the six-month financial period ending 31 December 2014 and for the six-month financial period ending 30 June 2015 at JPY81.9/S$ and JPY85.6/S$ respectively.” This hedging is rather important though not cheap. Looks like...

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Cory Diary : STI Index

If you have yet notice, STI Index ended this week 3324.39. STI Jan 1st Jan’14 was 3167.430. That’s mean about 5% returns. If we include roughly 3% dividends conservatively, that’s 8% for 2014. This is despite of Current Oil Bear, Interest Rates going up, Property Curbs and Commodity Crash.Quite amazing huh ? Do your math and tell me am I right ? So why ? why ? why ? why ?Maybe is the Singapore Story or thanks to the liquidity. How many of us can beat that on annualized basis ? Are your Unit Trusts beating this values. What...

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