Bought SHNG, FGEN, AC

Bought SHNG @ ₱3.25 on Aug 31, FGEN @ ₱16.86 on Sep 4 and AC @ ₱917.50 today.

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Recent Sell transactions

Recently sold the following shares:

  • SSI @ ₱4.71 and ₱4.70 on Aug 30, 2017
  • SMPH @ ₱33.70 on Aug 31, 2017

I typically sell for just two reasons, one is to risk manage, the other is that the stock is just plain overpriced and I believe I can eventually pick up the stock at a lower price.

My recent sell of SCC was for reason 1, while WLCON @ ₱8.58, SECB @ ₱260.40, SSI @ ₱4.70 and ₱4.71 and SMPH @ ₱33.70 was for reason 2.

Since I sold WLCON, it has gone up to the ₱9.50 range (I’m still holding some shares) and I’m just wondering how much that stock can still rise.

SMPH is still around the same range as when I sold it. I simply don’t think that the multiples of SMPH justify its price (around 37 P/E), specially with a net income growth rate of around 15% Q/Q. As with WLCON, I’m still holding some SMPH.

SCC has gone up, notwithstanding the ₱5/share that I missed on. I am also still holding some SCC.

SSI and SECB have gone down. I’ve sold all my SSI and am still holding some SECB which I intend to buy again.

Bought BLFI @ ₱3.96, RFM @ ₱4.31

Bought some BLFI @ ₱3.96 last Friday (Aug 18) and RFM @ ₱4.31 earlier today.

Also received cash dividends from JGS for a total of ₱0.28/share last Aug 11 and CNPF yesterday for total of ₱0.18/share.

I should have bought LR when I had the chance. Looking into SPC and possibly FGEN.

It would be a good time to send some money to the Philippines now as the exchange rates are pretty good for OFW’s. It would also be a good time as the PSEi typically consolidates or is in negative territory around this time of year, meaning the next few months may be a good time to buy.

Sold SCC @ ₱175.20, WLCON @ ₱8.58, SECB @ ₱260.40

Sold some of my holdings in SCC @ ₱175.20 and WLCON @ ₱8.58 yesterday. I also sold some SECB @ ₱260.40 earlier today. The SECB I sold included what I mistakenly bought for ₱252.20 and some shares I bought last year.

I really like SCC for their earnings and the consistent cash dividends, however the price seemed a bit high. I’ll try to buy it again if the price lowers a bit. WLCON was a bit high, and it went even higher after I sold, but selling at around 68% above IPO is good enough for me.

Bought BLFI @ ₱3.96 which I intend to accumulate as long as the price stays low enough. My only concerns for this stock is the low trading volumes and its P/E of around 15 isn’t cheap. Its div yield of around 5% (at its current price) is great though. It typically ex-divs around the 1st week of March, payable at the end of March.

Still looking at LR, which maybe I should have bought earlier today before the price spiked to ₱4.32. Also looking into FGEN at ₱17.10 (52 wk low) which looks like a good price to buy it. PIP @ ₱2.90 and PBB @ ₱13.20 also look like good buys.

I should really start putting down the steps I use in deciding whether or not to buy and sell a stock and then continually improve it. Maybe I should put it in a flowchart. Typical steps I use are:

  • Is it relatively cheap in terms of its current P/E? B/V?
  • Does it give good cash dividends and its dividend history?
  • Earnings trends
  • How is the management team and reputation?
  • Price trends for the past week, month, 3 months, year, 2 years and 5 years.

Sold MEG @ ₱4.80, Mistakenly bought SECB @ ₱252.20

I sold some MEG today as I want to risk manage a bit. I was trying to sell some SECB but mistakenly bought as I was in a rush before my train was going into a tunnel and was afraid I might lose cell signal. Crap.

I think SECB is a bit high at that price and wanted to sell so I could buy some other shares on my watchlist I posted on previously (e.g. BLFI @ ₱3.94, LR, RFM, FLI… or even SHNG or ABA). At its closing price of ₱252.00, P/E is 22.42, with a P/B of 1.84 (courtesy of MS Money). That’s a bit too close to BDO (20.37 and 1.97) and BPI’s (17.89 and 2.43) valuations… I mean why not just buy the better valuations of MBT or CHIB right? Hence why I wanted to sell some. I’m just going to cross my fingers for now and hope it goes up a bit for me to sell… or it do what my MWIDE did when I also made the mistake of buying instead of selling.

The past few days have been pretty bad on my portfolio and I think I’m just up by around 22.90% on my principal with an XIRR of 13.95%… (if my calculations are correct) so maybe I’m not doing as bad as I thought.

Bought ALCO @ ₱1.01

So I bought ALCO at ₱1.01 yesterday… just before it crashed by almost 7% today. Sucks I know.

I haven’t done a recent XIRR but I’m around just 24% up from my capital/principal.

It’s been a bloodbath with recent IPOs, from SHLPH at around -4%, EAGLE at -0.8%, CLC at almost -8%, and CLI at around -3.4%. The only saving grace amongst IPOs is WLCON that’s up by around 63% (lower than its peak, but quite a gain nonetheless).

I’ve been unable to buy DDPR nor SMC2F since they’re both a bit high now.

I’m currently looking at FGEN (17.40), GTCAP (1168), HLCM (12.90), HOUSE (5.43), JGS (69.45), LR (4.19) and RFM (4.40).

Bought PIP for ₱3.16 on Aug 3, 2017

Bought some PIP for ₱3.16 on Aug 3 as the price is pretty low compared to its revenue. I also tried buying some RFM but no one matched at the price I bid… same with DDPR. I’ll just wait then. To quote W. Buffet, “What’s nice about investing is you don’t have to swing at pitches… No umpire is going to call you out. You can wait for the pitch you want.”

I’m also looking at LR as it has gone down considerably (approx 14%) since I last bought it a week or two ago.

I’m a bit surprised that the price of MEG didn’t go down even though the US Dems are proposing a bill on taxing US organizations that outsource. Maybe investors don’t see it affecting the Philippine economy.

I also tried selling most of my EDC at near its peak on Friday (Aug 4) but no one bit.

 

Bought CLC IPO, FDC @ ₱7.60, COSCO @ ₱7.79, HOUSE @ ₱5.92

In the past week I was able to obtain a few shares of the upcoming CLC IPO (@ ₱10.68), which in hindsight and totally basing on the P/E, looks quite expensive. Nevertheless, it’s just a few shares and maybe it will do a DD which I once held at around ₱4 before selling at around ₱5.

I also bought some FDC @ ₱7.60, COSCO @ ₱7.79,  and HOUSE @ ₱5.92. I think FDC is undervalued given how much EW has increased its profits (and will likely continue to do so… it also isn’t a ‘treasury’ bank). COSCO is a retail play which hasn’t budged much despite of PGOLD’s movement. HOUSE is a cash dividend play.

I’ve gained around 2.2% cash on my principal in the 7 months of this year (note not p.a.) as a number of companies I hold are cash dividend plays. But then again, more companies seem to give out cash dividends in the first half than the second half of the year.

I’m at a wait and see on HLCM since its profits dropped significantly and there is a lot of competition in the cement business within the next 3-5 years.

I’m still looking at getting more PIP, RFM and probably SMC2F (which has an optional redemption date of around Sep 2022).

Bought LR@₱4.88 and more SPC@₱4.55

I bought more SPC yesterday at ₱4.55 and today I bought LR at ₱4.88.

I bid on some BLFI and some SMC2F but they weren’t matched. SMC2F returns an annualized 5.7% net at its current price of ₱80.55, which is ever so slightly higher than DDPR. In hindsight, I should have tried to get DDPR since I was unable to get SMC2F.

SHLPH is slightly below IPO price. I’ve held on to it because of Shell’s dividend policy. I’m not so sure about holding on to EAGLE as the cement industry may have a glut in the next few years. The Philippine’s infrastructure play is ever so slooowly progressing. CLI still looks good. ALCO is starting to look like a bargain.

I’m still looking into getting more COSCO, PIP, HOUSE, FDC and RFM. I’ve also requested to get a few shares of CLC from my broker.

 

 

Buys since April 17, 2017

I apparently haven’t written in more than two months.

The title is on ‘buys’ since the country I currently reside in (I live outside the Philippines) makes us report global income, hence I would need to report all the cash divs minus the tax that have been withheld in the Philippines (as it has a tax treaty with the country where I live). It also inhibits (whether in a good way or bad) all my sell transactions. I need to really think before pulling the trigger on a ‘sell’ as I would get hit with a capital gains tax.

As per my last post, I was thinking of buying FGEN and IMI. I bought both, buying FGEN @ ₱21.00 and IMI @ ₱7.90 a few days later. Since then, and compared to today’s price, FGEN is down by around 11.8%, while IMI is up by a whopping 71.4%.

I have also bought CHIB rights (as per previous posts), and the IPO’s of both EAGLE (up by around 7.8%) and CLI (up by around 9.9%).

I have bought AP twice as I’m steadily accumulating the stock, @₱40.05 and @₱39.75. The stock closed today @₱38.65 so I’m a few percentage points down.

I completely missed the bus on ROX. I was trying to get a hold of it in the ₱2.85 range in late April but wasn’t able to acquire it and it’s now around ₱5.00.

Today, I also bought some more CHIB @₱36.85 (as it just got a ratings upgrade from Moody’s) and MPI @₱6.27 (as I think it got a good deal for the extra stake in Meralco and Global Power).

Been checking out PHN the past few days, but it just went up by 4.1% today which makes me wonder if I should still watch it at that price. HLCM’s drop also seems a bit too much. BLFI, COSCO, PIP and RFM are also on my current watchlist.

I’m glad I wasn’t able to sell WLCON, as I was planning to sell in the mid ₱5’s (for around a 10% gain), and it’s now at ₱7.95 (or around 56% up from IPO).