Portfolio Transactions (October 2021)

Updates for my Portfolio for October 2021

For my side project, I am fine tuning the small batch process now as I managed to get a reasonably close result. Once the small batches are consistent, can look to scale up in stages with hopefully better results.

My new environment seems quite friendly and comfortably paced. Looking forward to the upcoming months.

• Buy MarketAxess at 409
  
• Reasons
• Adding more shares since my last purchase in April (~65x PE). Prices kept going down due to poorer earnings to about ~56x PE which was quite reasonably priced (close to March 2020 PE low). The electronic bond market is still in a young stage with loads of runway to grow.
• 
  
  
  
  

• Buy Hi Sun Technology at 1.08
  
• Reasons
• So what happened was I saw Hi Sun dropped about 17-18% one morning and I couldn't find any news about it. Figured it was perhaps someone offloading with kinda thin volume so prices gapped down. I decided to go in and purchase. One hour later after lunch, I came back to see this news. Now the share is suspended from trading.
• Previously, I have pointed out that PAX valuation were a little high but discounting it partially it is still fine. I would think riding this out, assuming no more bad news, would be a good strategy right now.

• Sell Mapletree Commercial Trust at 2.17
  
• Reasons
• My cost basis is about 1.435, so setting it would realise a tidy amount of profit considering this is a significant percentage of my portfolio.
• This move was actually to raise cash to switch to both the Chinese and US markets while reducing the positions I have in the portfolio. In the mid term, I would see MCT to have little headroom to grow and there are better opportunities right now.

 

That's all for my money for now.

I have place a small % of my net worth in crypto-assets.

Conclusion

My portfolio YTD is now 44.43%, with the long term XIRR at 11.76%, slightly beating VT's performance, but that's probably due to leverage.

My cash position is currently at about 7%. Have to wait for cash position to accumulate while waiting.

Related Posts:

• Portfolio Transactions Update (September 2021)
• Portfolio Transactions Update (August 2021)
  
• Portfolio Transactions Update (July 2021)
• Portfolio Transactions Update (June 2021) 
• Portfolio Transactions Update (May 2021)
• Portfolio Transactions Update (April 2021) 
• Portfolio Transactions Update (March 2021)
  
• Portfolio Transactions Update (February 2021)
  
• Portfolio Transactions Update (January 2021)