This year was a tough year for my portfolio with 4 out of 6 stocks in the portfolio posting negative returns since I wrote about them.
| Date purchased | Start | Now | Dividend return (%) | Capital return (%) | Total return | |
| iFAST | 22-Apr-18 | 0.92 | 1.03 | 7% | 12% | 19% |
| Kingsmen | 29-Apr-18 | 0.59 | 0.45 | 8% | -24% | -15% |
| SOG | 3-Jun-18 | 0.36 | 0.30 | 6% | -17% | -10% |
| CAO | 18-Oct-18 | 1.45 | 1.29 | 3% | -11% | -8% |
| HRNet | 1-Jan-19 | 0.80 | 0.62 | 4% | -23% | -19% |
| TripAdvisor | 24-Nov-19 | 28.00 | 30.29 | 0% | 8% | 8% |
| Total | -26% |
iFAST had the best total return which is a timely reminder about the importance of recurring income and network effect. HRNet had the worst total return – timing is everything for cyclical stocks!
This year was also full of drama – most of it bad and some good for the stocks in my portfolio. iFAST net profit started declining because of market volatility and reinvestment, Kingsmen began operating its IP attractions and the CEO of Singapore O&G resigned.
Here are the most widely viewed posts in 2019:
#1 Portfolio review Q1 2019 results – Singaporeans love looking at other people’s portfolios? This post discussed the dividend yield and recent results of the companies in my portfolio.
#2 Kingsmen: Cash is king – My first Kingsmen Creatives post which discussed the upside from the NERF attraction business, a potential recovery in its retail business, recurring business from its Exhibition and Thematic business and a cheap valuation. All of these points are still valid.
#3 Kingsmen: Keep calm and wait for Jewel – Catchy titles lead to more views? I was wrong on Jewel having a meaningful impact on Kingsmen – revenue from the retail business grew 13% in the first half of 2019 but the increase was smaller than expected.
#4 Five Evergreen shares and one test -I used the gross profit/Total assets filter for the stocks in my portfolio. HRNet had the “best” results using this filter.
#5 SOG 4Q18 results: Look beyond the surface – Bad headline results but there was some good news. Market share for babies delivered grew while the other segments excluding dermatology delivered great results.
#6 Singapore O&G 2018 AGM – SOG is one of the largest positions in my portfolio so I attended the agm. Key highlights included the company’s expansion plans (hire 2 new doctors per year) and plans to explore synergies between the O&G segment and other specialties.
#7 Portfolio review – Q3 2019 results – I discussed when I would consider selling for some of the loss-making positions in my portfolio.
#8 Kingsmen NERF matters – I attended the 2018 Kingsmen AGM which discussed the breakeven volume and strategy for NERF Marina Square.
#9 iFAST update – Moat growing wider – iFAST network effect moat continues to grow with its ecosystem becoming larger while shareholders remain pessimistic. The CEO has been buying shares in December 2019 which is always a good sign!
#10 SOG: Winning market share for 5th consecutive year – SOG’s younger doctors continue to progress in terms of surgery and patient load while their market share continued to grow.
There are many things to look forward to in 2020:
- iFAST revealing the outcome of its bid for a digital banking license in Singapore.
- Kingsmen revealing financial results about its IP attractions.
- Singapore O&G sharing the renewal status of key Singapore O&G doctors and the progress of its younger doctors.
- TripAdvisor sharing on the results of its pivot to display ads and strategic partnership with Ctrip.
Thank you for reading and may 2020 be a good year for everyone!
Evergreen Investing 