5/01/2017

價值投資倉(17年5月)



這是我第一次寫網誌。

我希望建立一個一百萬的組合,此組合最多只持有10隻股票,日後再為大家分析其基礎元素。

今日恒指約在25000點 7/2015
希望在今年內建倉成功。

(以下資料將不計算利息及非重大分拆業務)

1. 7/15 新地      1000股   122.2      122,200
2. 7/15 工商      18000股 5.66        101,880
3. 7/15 恒安      1000股    87           87,000
4. 7/15 中石油  12000股 7.51        90,120
5. 8/15 信置      8000股   11.42       91,360
6. 8/15 匯控      1600股   66.4         106,240
7. 8/15 長和      1000股   102.4     102,400
8. 8/15 中行      25000股  3.71        92,750
9.12/15聯塑      17000股  5.62         95,540

17 則留言:

  1. 近期科技股一支獨秀,缺少它們,似乎跑輸恒指機會很大,組合缺少這增長動力。

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  2. 價兄走寶了,組合不放些科技股就好像去KFC不食雞,入Pizzahut不點pizza一樣,講唔通

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    1. 當年設計組合時,已把騰訊視作長線標,可惜遲遲未能放進它,進退失據。

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    2. 幸好個人持有點,如騰訊及瑞聲,當然升幅已倍計,持有已多年。

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  3. Student :

    Sir,
    Why your "value" investment portfolio does not disclose updated individual stock's gains/losses ; dividends received ; total portfolio gain/loss ?
    Also, have you make any "stocks switching" ?

    Thanks.

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    1. 二年沒有任何變動,我當然大概知道盈虧,我終有一天會調整,但這肯定有別於其他愛經常變動。
      不要介意,我其實玩blog咁耐,只是用手機輸入,其實無用電腦是很吃力。

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  4. Student :

    Sir,
    I just realise what's happening on your HK$1 million portfolio after I read your past essays.
    Besides the stocks held, there is also "cash available" HK$110,510 .
    Although I don't know whether you have used "true money" or not to buy these stocks, as a responsible blogger you ought to try your best to maximise the portfolio value.

    Stock market is dynamic, I strongly suggest those sophisticated investors(like you Sir) make "stocks switching" in right times in order to avoid short-term risk and maximise long run returns. It will be very attractive, energetic and colourful......

    Every your fans can learn something during the process.

    Gogogo ! Good good luck !

    Thanks.

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    1. 原來這10分1資金用作騰訊。
      我當然持有這些股,當然比例不一樣。
      我並不認同轉換組合必定能擴大回報,但我同意適當時機可調整組合,不過大家對時機的看法不同,我現時仍未發現理想時機。

      我個人曾在二年前的所謂大時代作過調整組合。

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    2. 我同意經濟結構隨時代轉變,不能一成不變。

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  5. Student :

    I see "chances" are always in the market and it's simple for "sophisticated" value investors to make "stocks switching" if you have certain years of investment experience + knowledge of different companies of same field.

    For example, at present market conditions and market prices :

    1. I will prefer 016.HK rather than 083.HK so that I might consider selling 083.HK and buying more 016.HK .

    2. I will prefer 386.HK rather than 857.HK so that I might make the change.

    3. I will prefer 900.HK rather than 005.HK so that I might make the change.

    4. I dislike 1044.HK ~ Today market price HK$58 but NAV per share only around HK$14 + I can't see it with fast growth business now and so holding it is not an value investment.

    5. And I dislike 2128.HK ~ Low Dividend Yield + Not attractive at all ...... many other relatively good stocks can replace it.

    And ......

    Sorry for my subjective ideas, but I really want to make your blog more attractive.

    Thanks for reading. Good night!

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  6. Student :

    Thanks for your reply. You are so nice.

    Although I have an investment portfolio myself, I am not prepared to open any blog and publicize it yet. I expect bloggers should use true money and express the whole story once publicizing any portfolio.

    I would like to exchange my little ideas with sophisticated value investors because I can learn more and improve my investment strategy.

    Sorry for my verbose writing style.

    Best wishes to you.

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  7. Student :

    I strongly recommend 900.HK to you. I think it will be suitable to you for long run investment .

    P.S. Among those stocks abovementioned, I have 900.HK; 016.HK and 3988.HK in my portfolio.

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    1. 我一直有留意900,我同意其表現,甚至將來買入少量。
      但我一直擔心其經營模式,貸款質素,特別是家電的發展改變。
      但我認同到這一刻,它發展仍不錯,我持有各傳統銀行股。

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  8. Student :

    900.HK's profit mainly comes from credit cards business. The company has been actively carrying on this since Aug 1993 . Presently its market share is 6~7% ...... which is not little because there are many other credit card issuers in local such as HSBC, Hang Seng Bank, Citibank, American Express, Bank Of China(HK), Dah Sing Bank, Bank O East Aisa, ......

    900.HK just focus on credit cards. Traditional banks deal with so many financial sectors which show us terrible financial results over past 10 years !

    I think your worry doesn't make sense.

    Thanks and Bye Bye.



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    1. 風險亦來自它太集中於信用卡業務,為何其他銀行肯讓它市佔,當然銀行亦明白有一定的信貸風險。我明白公司業績是可以。
      其實,我亦不是太熟悉900,亦只估計它們的生意來自家電的分期,並透過吉之島找生意。
      我所知900發卡幾濫,它在走另類市場,大眾化市場,老實說,我十多年前曾用過供款,其他完全不清楚。
      總的,我有興趣知更多。

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