I finally gave up on few minor bets I had taken on Adlabs, Kotak Bank etc., for a momentum trading. These were supposed to be for 20/30% profit in few months time and I was to get out. Given the 2008 performance, this did not work for these scripts. After close to a years investment, I sold out at a massive loss of over 80% but never mind since the amounts are not very significant.
I also gave up on Reliance Power. Idea is that if money sitting on something which is not earning enough, let's move somewhere else and create some earning. So I have moved the residual amounts, from Adlab, Kotak & Reliance Power to Reliance Capital which has shown a better momentum.
I will continue with my momentum trading approach but will not exceed 5/10% of my portfolio. My current bets are Reliance Capital, HDIL, IDFC, Oracle Financials & Punj Lloyds. I will keep buying them on significant corrections and sell them the moment I reach 20% profit. For sure, this approach cannot work forever. So far, I have made decent profits in Reliance Capital, Mundra Port, HDIL, Oracle Financials, this way. But again, the amounts are insignificant :(
From the family portfolio, I also finally redeemed HDFC Long Term MIP at about 5% loss. Moved the proceeds to ICICI Bank FD for 390 Days @ 10.25%. Net net, over two years, this investment would earn less than the bank saving account and obviously, much lesser than the inflation. Bad luck :(
We also invested in another ICICI Bank FD, few days before, @ 11%. These are senior citizen rates. I now plan to invest in Tata FD for 3 years. @ 12% cumulative yield works out to 13.5% and looks too good. Of course, these are unsecured but for sure, I am happy to take that 'risk', with Tatas. Being very busy with work, so not sure if this FD is still open. Let me check.
I also gave up on Reliance Power. Idea is that if money sitting on something which is not earning enough, let's move somewhere else and create some earning. So I have moved the residual amounts, from Adlab, Kotak & Reliance Power to Reliance Capital which has shown a better momentum.
I will continue with my momentum trading approach but will not exceed 5/10% of my portfolio. My current bets are Reliance Capital, HDIL, IDFC, Oracle Financials & Punj Lloyds. I will keep buying them on significant corrections and sell them the moment I reach 20% profit. For sure, this approach cannot work forever. So far, I have made decent profits in Reliance Capital, Mundra Port, HDIL, Oracle Financials, this way. But again, the amounts are insignificant :(
From the family portfolio, I also finally redeemed HDFC Long Term MIP at about 5% loss. Moved the proceeds to ICICI Bank FD for 390 Days @ 10.25%. Net net, over two years, this investment would earn less than the bank saving account and obviously, much lesser than the inflation. Bad luck :(
We also invested in another ICICI Bank FD, few days before, @ 11%. These are senior citizen rates. I now plan to invest in Tata FD for 3 years. @ 12% cumulative yield works out to 13.5% and looks too good. Of course, these are unsecured but for sure, I am happy to take that 'risk', with Tatas. Being very busy with work, so not sure if this FD is still open. Let me check.
I increased my SIP Investments. I am now invested in below, all growth options. When time permits, I would search on high rated funds giving good dividends. Recently, Outlook Profit issue lists out many Cos., at current valuation, are giving excellent dividend yields. I would prefer to invest thru a MF route, though.
- Birla Sun Life Midcap
- DSP BR Tiger
- Franklin India Prima Plus
- ICICI Pru Infrastructure
- Reliance Banking
- Reliance Growth
- SBI Magnum Contra
Reviewing my overall asset allocation, I am under invested in equity. It's basically my PF investments which tilt the balance in favor of debt. With the current investment, I would be re-aligned to right proportion in next few years.
Regards, Rohit
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