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Showing posts from March, 2009

Re-positioning my holdings

There has been some major changes to my portfolio over the last few months. My present portfolio look like this:
Pfood Fujian Zhenyun (FZ) Sihuan China Ziano First Reit Man Wah
I have been quite active in the past 2 months:
Sold Karin, Sinotech, China Fish, Changtian. 
Bought China Sky due to cash per share higher than share price and possibly low cash outflow in the near future. Sold China Sky after its abysmal fall in cash. [Reason for buying no longer valid]
Added more of China Ziano. Initiated First Reit, Man Wah, PFood. 
I have re-positioned my investing philosophy. That is, to buy and hold high quality businesses with little or no debt. Quality means less cyclical businesses. Little debt means that the business is more likely to survive this recession. 
Karin, Sinotech and Changtian do not meet the quality aspect. China Fish debt levels are too high for my comfort, and it may be affected by the possible risk of falling fish prices. Hence, they are sold. 
FZ …