Author: The Bedokian Portfolio

The Bedokian Review Of Mapletree North Asia Commercial Trust And Some Takeaways

Back in June this year, I had written a post on Mapletree North Asia Commercial Trust (MNACT) in my “Inside The Bedokian’s Portfolio” series (see here). In it, I had mentioned about the crown jewel Festival Walk, a large retail and office property situated in Hong Kong, and itself was a prime concern due to the huge concentration in MNACT’s book value and revenue, which both stood at about 60-plus percent. Last week, Festival Walk had sustained internal damages that warranted a full closure, after it was being targeted by protestor groups in the current unrest. With reopening, we...

Read More

Tired From Looking For New Companies To Invest? Read This (Very) Short Post.

After investing for a few years, and if you are an active investor, you will have a number of different securities and counters in your investment portfolio. While continually doing research and prospecting for potential companies is one way, it could be exhausting for one if there are other commitments and/or if you still are holding a very busy day job. If your mind is willing but your physical body is not, then maybe you can consider two other alternatives to manage your portfolio: looking at your current holdings and going the ETF way. Looking At Your Current Holdings...

Read More

Some Considerations When Investing In Technology

Image by Pete Linforth/Pixabay.com Technology, or tech for short, is one of the most oft-quoted buzzwords among investors and traders. The technology sector, defined by Investopedia, contains “businesses revolving around the manufacturing of electronics, creation of software, computers or products and services relating to information technology”1. This sector had caused a bubble back in the late 1990s and early 2000s, and it is also leading the charge in changing or disrupting almost all aspects of our work and leisure lives. The tech sector has various sub-sectors within, such as software and services, hardware, etc. Recent developments have seen it moving...

Read More

Inside The Bedokian’s Portfolio: SPDR S&P 500 ETF & Berkshire Hathaway Class B

Inside The Bedokian’s Portfolio is an intermittent series where I will reveal what we have in our investment portfolio, one company/bond/REIT/ETF at a time. In each post I will briefly give an overview of the counter, why I had selected it and what possibly lies ahead in its future. For this issue, I will introduce two securities from the United States (US) market: the SPDR S&P 500 ETF (ticker: SPY) and the Berkshire Hathaway Class B shares (ticker: BRK.B). During my “transition period” between 2013 and 2014 when I switched from trading to investing, I had done some research...

Read More

Lendlease Global Commercial REIT: The Bedokian’s Take

Lendlease Corporation, part of the Australian-based Lendlease Group, is spinning off a REIT with two of its properties. Called the Lendlease Global Commercial REIT (the REIT), it will start off with 313@Somerset in Singapore and Sky Complex in Milan, Italy. So let us take a rough look. Quick numbers from the prospectus (with page number in brackets for reference): Initial public offering (IPO) price: S$0.88 (p46) Net Asset Value (NAV): S$0.8134 (p55) Aggregate Leverage: 36.4% (p97-98) Projected dividend yield: 5.8% (annualized) for 2020, 6.01% for 2021 (p57-58) Weighted Average Lease Expiry (WALE): 4.9 years by Gross Rental Income (GRI),...

Read More

The Bedokian’s Investment Philosophy: The 100th Blog Post Special

What is an investment philosophy? Essentially it is like a personal set of doctrines, strategies and methodologies on investment matters. Everyone’s investment philosophy are unique, though some may just be a total replicate of others’, especially those of famous investors and traders. For mine it is a mixed bag from different sources, cobbled up during the period of 2013 – 2014 when I transitioned my portfolio into the first draft of the current form. Since this is my 100th post in The Bedokian Portfolio blog, I will share some of my investment philosophy with you and I hope you can...

Read More

A Wave Is Coming, But You Have Limited Ammo…

Does the post title sound ominous? If you are thinking of a zombie hoard coming at you but you only have six arrows left for your crossbow, then yes that is bad news indeed. Well, that is really not the case. The “wave” that I mention here is the market direction, and it is those extreme ones. Yup, sharp rises and falls, those types. The “ammo” is the amount of funds that you are ready to deploy when the wave comes, which for almost all of us, is a limited resource. And the whole context is about selecting the...

Read More

Inside The Bedokian’s Portfolio: iShares JP Morgan USD Asia Credit Bond Index ETF

Inside The Bedokian’s Portfolio is an intermittent series where I will reveal what we have in our investment portfolio, one company/bond/REIT/ETF at a time. In each post I will briefly give an overview of the counter, why I had selected it and what possibly lies ahead in its future. For this issue, we shall talk about the iShares JP Morgan USD Asia Credit Bond Index ETF, or I just refer to it as the iShares Asia Credit Bond ETF. The iShares Asia Credit Bond ETF is listed on the Singapore Exchange with two ticker symbols; N6M (in US dollars)...

Read More

Tariffs And Currency Devaluation, In A Nutshell

If you are new to investing and just entered the financial markets, you may have heard of the terms ‘tariffs’ for a while now and most recently, ‘currency devaluation’. As if investing is a difficult animal to deal with, adding in all these macroeconomic mumbo-jumbo may have sent your head further spinning. Well, like it or not, you will need to have some idea of what these terms mean in your fundamental analysis (at the Economic Conditions level according to The Bedokian Portfolio1), but to make things digestible for you, I will explain them in easy-to-understand analogies. Let us...

Read More

Turning Three (!) Tips For You!

The Bedokian Portfolio blog is turning three soon! And since all good things come in threes, I shall give you three tips and opinions for you to ponder about! One: Are S-REITs Overvalued? Singapore real estate investment trusts (S-REITs) are currently enjoying a boom. Based on the iEdge S-REIT 20 Index, since 1 Jan 2019 it has risen from 1208 to 1436 as at 26 Jul 20191, an 18.9% rise. Recently in some of my investment chats with others, very often REITs were creeping into the conversations. So with all the talk about REITs, is it a sign that...

Read More

Asset Class Correlation For 1H2019

Someone I knew made a remark that for 2019, the price of everything is going up; equities, REITs, bonds and even gold. So that begs the question: is there still correlation between the asset classes? Using U.S. ETFs representing the various asset classes, plus an equities ETF for the Singapore market (EWS), we shall now turn to Portfolio Visualizer to find out. Name Ticker VTI EWS VNQ BND GLD CASHX Return Vanguard Total Stock Market ETF VTI – 0.93 0.53 -0.40 0.36 0.04 18.67% iShares MSCI Singapore Capped ETF EWS 0.93 – 0.33 -0.30 0.46 0.24 13.93% Vanguard Real...

Read More

Inside The Bedokian’s Portfolio: Mapletree North Asia Commercial Trust

Inside The Bedokian’s Portfolio is an intermittent series where I will reveal what we have in our investment portfolio, one company/bond/REIT/ETF at a time. In each post I will briefly give an overview of the counter, why I had selected it and what possibly lies ahead in its future. First up, Mapletree North Asia Commercial Trust (MNACT). MNACT was previously known as Mapletree Greater China Commercial Trust (MGCCT), which was listed on the Singapore Exchange in March 2013. Initially consisted of two properties, Festival Walk in Hong Kong and Gateway Plaza in Beijing, it acquired another commercial property, Sandhill...

Read More

Bob Is Rebalancing Yet Again, But…

We are coming into Bob’s bi-annual rebalancing again. As 30 June 2019 is a Sunday, Bob has two options: either doing it on 28 June (Friday), or on 1 July (Monday). Thing is, Bob is aware that the G20 Summit is coming up on 28 – 29 June, and along with it a possible meeting between the leaders of the two largest economic powerhouses, China and the United States, on settling the trade dispute. Bob knows that the core ethos of rebalancing is to inject fresh funds into his Bedokian Portfolio, and then adjust it accordingly to his strategic...

Read More

Growth Stocks In The Bedokian Portfolio?

Being a dividend investor, and knowing growth investing is of a different slant, I was asked a few times on my take of having growth stocks in The Bedokian Portfolio. I had mentioned that The Bedokian Portfolio caters to growth, dividend and a little bit of both. Before I give my opinion, let us take a look at the basis behind growth and dividend (or income) investing. It’s About The Returns Investing 101: Returns = Capital Gains + Income Capital gains, as we know it, derives from the price appreciation of the asset. Income is either the dividend/coupon/interest that...

Read More