The Govt suddenly increased the stamp duty for properties buyers on the 6th of July 2018. My first black swan event as I hold Roxy Pacific, it when down as low as 11%. I expect property stock to be down but it still shock me as the fall is huge. Still I thought it is a chance of grabbing cheap stocks.
The market opened, my mind was in shock at the terrible double digit fall. For a few minutes, my mind froze. I can't decide on the amount to buy and entry price. As one can't time for the bottom, I nibble on UOL (Price to book 0.6) and Capitaland (Price to book 0.7) at $6.71 and $3.05 respectively.
'A sledgehammer to kill a fly', an analyst puts it. It is also killing the worm trying to survive, the construction sector. Chip Eng Seng (bought 0.79 sold 0.97) falls 7% to 0.79 back to my buy price and a 5% yield. However debt has increase since. Will keep this on my wish list for now.
0 comments:
Post a Comment