Friday, April 16, 2010

China Life cash out

Got the $17,800 from China Life delisting, earning $739.92 since I bought it in 26th January. Gross return is 4.34%, annualized return is 19.79%. However it is still worse than the return if I invested in the STI ETF which is around 34.00% annualized.

Been thinking about ASA group which is around $0.020 from the $0.055 which I bought. It is probably due to the highly possible delisting since it does not meet SGX conditions to keep its listing status.

I was thinking whether to sell it when it was $0.06 - $0.065 but decide to keep it since it still haven't show its potential. I only saw it drops to $0.02 pretty late but I did saw it on the newspaper. I think one saying "Cut Losses and Let Profits Run" makes me feel that the decision not to sell is correct. However, I lack a way to cut losses since I see it drops only quite late because I don't track the market often.

My final thoughts is what to do if the company has to delist. I should sell it since there might not be any way to recover the money if it delisted. But, I am still hesitant and still wish to hold on to it. Probably decide only when it really get to that situation.

My idea now is whether there is an opportunity to profit from shorting these watchlist companies when their 3-year limit are up. I will still keep buying delisting companies since I don't need to track or spend time on the market. There is still a risk that the auditors didn't do a good job and there isn't sufficient proof that the company can pay the cash offer as stated.

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