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 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.
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.