Dear Investors,
this will be a very short report. the market rebounce quickly, as well as the fund, but my stocks will takes time to catch up, the latest fund price is $1.2381 (+0.0071, +0.58%)
the wall street legend Jesse Livermore once said, "who can both be right and sit tight are uncommon. I found it one of the hardest things to learn."
the "game of investment" is that, being right already isn't easy, the stock market is never obvious. It is designed to fool most of the people, most of the time, but what's harder to learn than being right is to sit tight.
from my less than 5 years experience, i have learnt how to be right very quickly, i know what will happen, sometimes when it will happen, but i didn't get more than i could have because i couldn't sit tight easily, 10% gain, then i get nervous and think, maybe i should sell and take the 10% now and leave! if i can resist my temptation, then it rise to 20%, 30%, 40%, then more it goes up, the more tempting i want to get what i can see and leave, and regert it later.
I started buying my own company Manulife (HKG:945) since Sept, 2011 with an average $83 a share, i know its reasonable price should be $120-130, but i sold it at $97.5 after last Sept, 2012, 15% gain, seems pretty good! however this month it has reached $140 already.
another lighting company NVC (HKG:2222), i brought it last Aug at $1.24, and sold it at $1.53 after a month, 25% gain, not bad! this month it has reached $2.4 at highest already.
these are few mistakes i have made by being right but not sitting tight.
but as i said, the first 5 years is pretty much like training, so don't get too serious on that, in the coming year, i will slowly reduce the % of loan, now this fund have 37% is loan to different people/ business, that's why her performance cannot compare with those fund who invest in stocks 100%.
anyway, i have attached an historical fact sheet for some of you want to keep track of the development of this fund since day one.
that's it for now, have a great weekend :)
regards,
Calvin
this will be a very short report. the market rebounce quickly, as well as the fund, but my stocks will takes time to catch up, the latest fund price is $1.2381 (+0.0071, +0.58%)
the wall street legend Jesse Livermore once said, "who can both be right and sit tight are uncommon. I found it one of the hardest things to learn."
the "game of investment" is that, being right already isn't easy, the stock market is never obvious. It is designed to fool most of the people, most of the time, but what's harder to learn than being right is to sit tight.
from my less than 5 years experience, i have learnt how to be right very quickly, i know what will happen, sometimes when it will happen, but i didn't get more than i could have because i couldn't sit tight easily, 10% gain, then i get nervous and think, maybe i should sell and take the 10% now and leave! if i can resist my temptation, then it rise to 20%, 30%, 40%, then more it goes up, the more tempting i want to get what i can see and leave, and regert it later.
I started buying my own company Manulife (HKG:945) since Sept, 2011 with an average $83 a share, i know its reasonable price should be $120-130, but i sold it at $97.5 after last Sept, 2012, 15% gain, seems pretty good! however this month it has reached $140 already.
another lighting company NVC (HKG:2222), i brought it last Aug at $1.24, and sold it at $1.53 after a month, 25% gain, not bad! this month it has reached $2.4 at highest already.
these are few mistakes i have made by being right but not sitting tight.
but as i said, the first 5 years is pretty much like training, so don't get too serious on that, in the coming year, i will slowly reduce the % of loan, now this fund have 37% is loan to different people/ business, that's why her performance cannot compare with those fund who invest in stocks 100%.
anyway, i have attached an historical fact sheet for some of you want to keep track of the development of this fund since day one.
that's it for now, have a great weekend :)
regards,
Calvin
