Portfolio update January 2022

Disclaimer: This article constitutes the author’s personal views only and is for entertainment purposes only. It is not to be construed as financial advice in any shape or form. Please do your own research and seek your own advice from a qualified financial advisor. From time to time, the author may hold positions in the below-mentioned stocks consistent with the views and opinions expressed in this article. I have positions in all of the below stocks at the time of publishing this article. This is a disclosure - not recommendations to buy or sell stocks.

Portfolio update

Stock prices in most Asian markets have taken a beating from Omicron since November. An incrementally hawkish Fed also seems to suck money out of emerging markets.

It’s been a bloodbath, to be honest. I’m holding the course - despite some losses. The account is down -1.3% since funding it in October.

I’ve taken down my cash position to zero as I remain bullish. In terms of position changes, here is what I have been up to:

• I took on an initial position in Holcim Philippines, thinking that fundamentals will improve with a recovery in the Philippine property market (75% of demand). I’m also hoping that it will be acquired by Anhui Conch or one of its Japanese competitors. Just a tiny position so far, because the stock ran up 8% on the day I started buying.
• I doubled down on Multi Bintang as I believe it is well-placed to recover in a post-Omicron world.
• I added to Bloomberry Resorts yet again after the share price came down over the past two months.
• I trimmed the position in BAT Malaysia just a little bit due to comments by Malaysia’s health minister about introducing a generational ban on tobacco. Too early to tell whether this initiative could ever become law, but I don’t like negative surprises.

Here is the full portfolio as it stands as of 21 January 2022. The cash balance is low at 2.1% and it’s going to get lower.