Still working on repopulating the numbers on my new checklist. Gonna take some time (I'm 39% completed only :(, need to buck up ).
Also, recently I saw the CNAV strategy by BigFatPurse, pretty interesting considering it is an asset play strategy. I made an excel spreadsheet based on the ideas I got from reading their articles (as well as from bloggers using it and those who reviewed their course) and was generating an excel spreadsheet on a form to put the numbers in, paired with a Piotroski score, to determine to go ahead or not. Not sure how well it works though.
- Subscribed to Soilbuild REIT Preferential Offering at 0.63
- Reasons
- Sell half to subscribe at 63c to average position down defensively to decrease exposure (my average price was 0.697)
- Leaving with 2100 lots allows me to leverage on odd lots rounding
- Theoretical Ex-Rights Price is estimated to be 0.6891
- I would only require about 282 rights to average down to the TERP.
- I applied for 2400 rights in total, where from my own calculations, it allowed me to average down to 0.6617 after fees. This will increase my total position to about $3,000, not too much exposure, not too little (not very optimistic on the REIT in the mid to long term due to heavy O&G exposure).
- I ended up getting 1600 rights (1390 excess), this reduces my average price to 0.669 post rights (including the $2 ATM fee).
- Frankly, I am quite surprised that I did not get more as I had the impression that this issue would be undersubscribed (no POSB ATM application as well).
- As of 08Oct16, prices have bounce slightly off the resistance at 0.720 yet with increasing momentum. Let's see how far I can ride the trend.
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| Soilbuild REIT Numbers |
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| Soilbuild REIT TA as of 08Oct16 |
Well, that's all for my money right now.
For those of you who wanna see more information, my SGX portfolio is on SGXCafe too! You can find it here.
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