2023 Returns: 28.66% (After a miracle run in 2022, 2023 is also another miracle run )
Year End Thoughts
When i look at my results in 2023, it is definitely good. However if i were to describe it like a football match, it would be like scoring 7 goals in the 1st half and letting in 2 goals in the 2nd half to finish the match with a 7-2 victory.
While it definitely is a win and a big one, i would have to develop more tactics for upcoming matches as it is not every match where scoring 7 goals is possible.
While things have been smooth running for a few years, there is always a need to be conscious of what i can do and what can go wrong as well as knowing that what you might not know that might go wrong. Things can always go wrong at any point of time and that is just the harsh fact of life.
Motivation wise, i think compared to 2022, it is around the same or even lower this year as i have not made much changes or perhaps try to deep dive much lesser. Which is why i am actually shocked by the 2023 returns. Perhaps the gods have decided to give their blessings for 2023.
Hopefully my motivation picks up in 2024.
Portfolio Related
Facing a big allocation decision again for the 2nd year running, it was about allocating the funds from AAG Energy, the top holding of 2022 that would be key.
In End 2022, the larger positions (6% and above were)
AAG Energy (Delisted, Premium of <10%)
HG Metal (Sold at a Loss)
Medialink Group (Sold at a Gain)
Mainland Headwear (Still Holding a Small Position. 2023 Share Price Returns: -6.84%
-Reduced after a muted / negative guidance was given for 2022 2H. With New Era IPO rumored to be in 2024, perhaps we would be able to better observe the company and re-enter again.
In End 2023, the larger positions (6% and above are)
1. Dream International Ltd
-I plan to come out a post hopefully in January with regards to this. But in the meanwhile commentary, the strength of Theme Park in Japan continues to hold.
Officially, Japan Tourism Numbers have surpassed pre-covid in October 2023. That is good tailwind news.
2. Huationg Global
-1H 2023 is actually one of the lowest revenue(41.6 million) i have seen for its Civil Engineering Segment Since 2020.
-As such, will see if there is a rebound in revenue in 2H as order book of $484.4 million to be completed within the next 4 years would mean roughly 60 million per half year.
-Dormitory Operation should maintain, or any improvements would be positive. The possible negative factor would be higher inter-segment revenue affecting segment profit. With regards to rental rates, they have still maintained a high level.
3. San Miguel Brewery Hong Kong
-I wrote a post on it recently. Therefore, i will want to see the results to see if they can surprise by selling more exports.
-In terms of stability, it definitely has improved its financials in 2023 with improved profitability and improved rental in its investment property.
With that the 2023 Year End Review has come to an end.
No comments:
Post a Comment