Portfolio Review for Full Year 2020

 

Please click and read this disclaimer if you wish to continue with the contents below.

For 2020 I have made a total profit of S$12,362.31 from my equity investments(predominantly in HK) with an XIRR of 6.34%. From my 6 years of tracking, I have made a total of S$99,642.66 from this portfolio alone.

TWR(Time weighted return) is based on previous close of all my stocks daily, instead of my actual buy and sell price. A deeper understanding of my own portfolio is the XIRR which is money weighted and shows the true profit/lost I have incurred from all my investments till date

The large difference in my XIRR and TWRR is likely due to better and more efficient entry and exit for my equities this year.

Bench marking myself against STI, HKSE and World Index:

For previous month's portfolio review click here 

Year to date:

STI Index: -8.83%

HK Index: -2.11%

World Index: +14.69%

My Portfolio: -1.57%

Three years trailing:

STI Index: -7.48%

HK Index: +1.67%

World Index: +29.88%

My Portfolio: +15.73%

Portfolio composition(4 index etfs and 24 stocks):


Transactions:

Sold JXR(HK:1951) for 53% gain

Bought back Chanjet(HK:1588)

Bought more Alibaba(HK:9988)

Commentary:

X.D(HK:2400): X.D price performance recently has been great. It has increased by 30% in just the last 15 days. With a strong ecology via TapTap, their business model is very different from normal gaming companies. They should be valued as a platform company. The number of TapTap downloads have increased 4 times ytd from 200mil to 800mil. This potential spike in mau will cause a feedback loop. With the increase in the scale and stickiness of TapTap developers and users, opening more advertising spaces will be a matter of time.

X.D unique ecology I feel makes them the biggest rival to Tencent. Firstly Wegame is too profit driven, tends to bump up bad games when they are being paid more or games that uses in-game payments due to more profitability. Does not have as large a user community than TapTap. Secondly, TapTap is grown organically and their ratings are authentic, good games that are not profitable(ie single player non pay to win games) gets the ranking they deserve. Bad games that are pay to win tend to get bad ratings.

Users know it, so more developers and users flock to TapTap. Thirdly, Wegame do not push single player one time payment app games because it does not make monetary sense to them. TapTap will have the monopoly on indie one time payment app games which in turn creates more feedback loop for users. Developers will be more eager to list their games on TapTap as they will get more feedback from user responses so as to make improvement.


The recently launched Human Fall Flat game is online for 5 days only and sold more than 2 million on TapTap and Appstore.


With the recent antitrust on big Chinese tech giants. X.D could benefit from this, because Tencent's game channels may be forced to change their monopoly status quo.

With 2bil hkd of net cash and a fast growing topline and free cash flow, X.D is looking promising and ultimately has the potential to rival Billi and Wegame. See how it goes.


Property Investment:


I consolidated similar unit size transactions after our(wife and I) purchase till date. The circled row is the unit that we have bought. If we compare it with the recently transacted $psf. Capital appreciation is about 8%.

To read more about my property purchase can click here 
 

2 comments :

  1. Hi SCG8866t, thank you for your great posts, i highly appreciate your research, I am very much interested in china stocks and follow those too.

    ReplyDelete