Performance in 2012

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#21
2012 performance was surprisingly better than I had expected, and my expectations are generally low.

Portfolio return on equities using XIRR (and including dividends) = +35% against a +19.7% return on the STI, thereby outperforming by +15.3 percentage points.

From my historical records,
My 2011 Performance: -5%
2011 STI Performance: -17%

My 2010 Performance: +24.5%
2010 STI Performance: +10.1%

Businesses within my portfolio are growing steadily and I am monitoring them with close eye, as well as speaking to key executives on matters which I need clarification on.

Total dividends received for 2012 amounted to about $14,100, as I received MTQ dividends for 2012 purely in scrip. As a result of this, blended yield on my portfolio cost is 5.85%.

Assuming MTQ dividend was received in cash, total dividend would have been $16,300, and blended yield would have risen to 6.7%.

For 2013, I would expect steady growth and good FCF generation from the companies within my portfolio; and it was also an unfortunate thing that valuations and share prices rose steadily during the year, for it meant that I did not have a chance to deploy capital through most of 2012.

Expectations are for a -5% return for 2013 on my portfolio as I believe in mean reversion, and dividend yield should stand at around 6.7% to 7% assuming all dividends received in cash.
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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#22
1998 - 2006 the invested amount was rather small but nevertheless quite profitable in sum and unlikely to influence much if the result is to combine till 2012.
They are around XIRR +15%.

2011 is tough for me. XIRR -13.11%

2012 SG Stock Performance XIRR +44% is a large turn around. As I am still less confidence, only about 33% of my investible are in SG stock.
What make this year so interesting is most of my gains are not from Reits.

2007 to 2012 SG Stock XIRR +11.6%.
What I learned is one bad year can take us long time to climb back on Muti-Year result unless we achieve significant gain to compensate back. Thank you 2012 !


Cory

Just my Diary
corylogics.blogspot.com/


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#23
Please enlighten what is XIRR ?
Thanks.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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#24
[wrap]
[table=Date]
31/12/2011
31/12/2012
01/01/2012
01/01/2012
01/02/2012
01/02/2012
01/03/2012
01/03/2012
01/04/2012
01/04/2012
01/05/2012
01/05/2012
01/06/2012
01/06/2012
01/07/2012
01/07/2012
01/08/2012
01/08/2012
01/09/2012
01/09/2012
01/10/2012
01/10/2012
01/11/2012
01/11/2012
01/12/2012
01/12/2012[/table]
[table=Value]
-1.00
2.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00
2.00
-1.00[/table]
[table=Transaction]
INIT
FINAL
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY
SELL
BUY[/table][/wrap]

is my way of recording transactions right? but the XIRR result is unbelievable. I think NAV is more reasonable.
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#25
Is a measure where we can bring people nearer for performance comparison. This allow us to understand how we do and where we go wrong.

Example
In real life in individual investment, you may profit say 5K. And for me 100K. By absolute number, people may think my investment strategy is better for same measured period since I made 95k more. The truth maybe you have 1K capital making 500% gain while I may have S$1 Million capital which translate 10% only. So XIRR put us on more even platform to measure investment results regardless of wealth.

XIRR also allows for investment in/out on discontinue and unequal periods. Which make comparison even more accurate say 2012 annualized results can be compared between individuals.

XIRR is a function in EXCEL so it is easily accessible to use.

Cory

Sorry freedom, I think you get it wrong. Is not so complex. Smile

Just my Diary
corylogics.blogspot.com/


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#26
(01-01-2013, 10:37 AM)corydorus Wrote: Sorry freedom, I think you get it wrong. Is not so complex. Smile

so which way is right? the transactions are the same as what I did last time. sell at 2 and buy at 1 at the beginning of every month. In the end, I am with 2 in the portfolio and 12 in cash. initial portfolio was 1 only.

[wrap]
[table=Date]12/31/2011
12/31/2012
[/table]
[table=Value]-1.00
14.00
[/table]
[/wrap]

OR

[wrap]
[table=Date]12/31/2011
12/31/2012
[/table]
[table=Value]-1.00
2.00
[/table]
[/wrap]
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#27
Question to ask yourself is in absolute amount did you made 13 or 1 ?

Give me a minute and I can draft a sample for you in my blog.

Just my Diary
corylogics.blogspot.com/


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#28
(01-01-2013, 11:00 AM)corydorus Wrote: Question to ask yourself is in absolute amount did you made 13 or 1 ?

Give me a minute and I can draft a sample for you in my blog.


you mean the one starts with 1 and ends with 2 only? clearly, it did not capture the additional 12 profit I made along the year. It does not reflect my ability to make huge profit during the year.

I think I made 13. sure not 1 only.
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#29
You have invested S$1 and you earned S$13. XIRR if entered correctly is 1290% which reflects about 13 times. Make sense ?

Here's the link on fuller sample.

XIRR


Cory

Just my Diary
corylogics.blogspot.com/


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#30
(01-01-2013, 11:15 AM)corydorus Wrote: You have invested S$1 and you earned S$13. XIRR if entered correctly is 1290% which reflects about 13 times. Make sense ?

Here's the link on fuller sample.

XIRR


Cory

but your example is only for a counter, which is fairly simple. If there is multiple buy/sell of multiple counters, which may result the transactions just like the first table I made. But the XIRR in my first table is unbelievable.
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