Wow, it’s been quite some time since I see a sea of red in my portfolio. Anything new over the past month that cause the fall? Devaluation of China yuan could be a trigger and of course all other negative news which are not new.
What did I do? I was accessing my emotion as I witness the drop. Mixture of worry n excitement. Worry comes from companies which I have a position but did not do much research on. Excitement comes from how I can buy certain companies at a cheaper valuation or higher dividend yield now.
Specifically, I sold out King Wan, Pan United and Soilbuild at a loss. King Wan was sold due to concern of more impairment to come due to their investment in China. Pan United was sold to raise cash for other purchase as outlook of company might not be that visible in near term and this is probably a business that I don’t quite have a grasp on. Soilbuild was sold to raise cash to purchase another REIT that has dropped significantly.
What further actions will I take? To purchase more shares of companies in current portfolio, and might initiate a position on Capital Retail China Trust.
Will update soon.