1H 2017 Sillyinvestor Inc Intern Report

Chairman Message:

1H2017 is a bull run, with the world drunk on Trump's tax promises, financial deregulation. Sillyinvestor Inc did not gain much from this bull run because there was plenty of profit taking throughout the 1st Half of the year. 1.The company did reach a milestone, and that was the portfolio size including cash finally crosses 100K. We sold Accordia Golf Trust, Yangzijiang, SIngpost and Venture. All except SIngpost were exited with a profit. Singpost Loss is neligible as we manage to buy at a low price.

The only buy action was centered at silverlake axis. The story has pend out as Management expected so far, a special dividend 1.3 cents declared, contract wins continue. The last story is the turnaround in the project service segment with the continued growth in the maintenance segment, Silverlake will then be flying at both cylinders  

Outlook:

Outlook is uncertain. Trumponics is looking weaker and weaker. Nobody cares, but we do. We are still 60% cash, and will be looking at reducing the stake of Silverlake and Lee metal at the right price.  


Operation Review:

We have invested $42k into equity with a market value of 44k. Cash for investing stand at  $60000. This is the second time in a row that we have the portfolio above waters.  

Dividends received for first half is about $910. A sharp drop of more than 50%  from a year ago
Trading profits increased 5 folds yo $4500. Bulk of the profits came from Venture, with YZJ and Accordia Golf Trust taking up the rest. 

Total cash returns over total asset value is is 5.4% A slight improvement from last year 4.6%.

For the second half of the year, we expect earnings to be much worse than the first given the small position size vested, the tactic here is to wait

Online Ad Revenue figure is negligible. 

 
CSR:

Start regular contribution to 2 new beneficaries.  Sian Chay Medical Institution and Singapore Thong Chai Medical Institution. 

Random thoughts: Transformers lost its plot

By plot, I dun mean storyline.

I am well aware the transformers is classify under action thrillers. So I dun expect a fantastic storyline, but I do expect "action" and "thrill"

There are various ways to thrill, cinematic effects or innovative stunts never seem before.

Both are lacking if u ask me. Worse than fast and furious defintely. 

What's worse, I remember past transformers' success. The quick and sleek transformation from robot to cars and vice Versa , but at the sixth or seventh installment, it is getting boring.  

Second success, The human and robots battle. This time round is damn boring. Come on la, u going to the mothership of Queen and the only thing pinning down the troops is 1 bunker? Also, the advance and retreat of human super fake, and the tempo of fights making me yawn. I dun understand what they are running, those with some NS experience know it's corkster. Past transformers dun have this problem.

Third success, the nemesis with megatron. This time round, a side kick did the job. *Roll eye. And the way the queen is defeated. *Roll eyes too.

Too much copying. Bumblebee is now officially iron man, can have hands flying and firing without the main body. LOL.

The meshing of history with friction can be intriguing. But in the case, whether it is king Auther or just King A makes no difference. There is no depth involved. If the show is played by humans, u will think minions has a better story. 

The story goes that with the talisman, will lead to the one that rules them all staff. I have no idea what is it for and it's role in connection with the staff. Without the talisman, the duke will find the descendent of Merlin and she figure the clue to the location of staff by herself anyway. 

Come on, Hollywood. 

Random thoughts: Rainy days, Singapore

I have been walking around Singapore with my family. We been to river safari and sentosa. Broadwalk during rainy days. I thought the view during rainy days are beautiful. 

 

 

 

Rainy days also mean the crowd is more manageable in the beginning. Otters at river safari are particularly playful and active during the rainy day. Very photogenic.

 

Remind me of the contrarian style of investing.

Seeing beauty in the rain. 

My biggest holding in terms of cost invested is Silverlake axis. It's has been rainy for a while. People seem not to see the rainbow. They won 3 contracts in a month, one of which is a with a major customer in Thailand. The other contract for existing company to merge overseas operations, I suspect is RHB. 

Fuzosoft latest earnings show profits. GIT exit almost done. 2 months holding period and we will

Know if we have a special dividend. Even if there is none, yield is more than 5% for a company with improving fortunes. 

While management guide Q4 will see improving earnings in special projects segment, I believe the real improvement will only come in 2018. Initial phase of contracts usually involved only few branches 

Goh injection of assets is a wild card thou, depending on valuation 

Random thoughts: What a father wants?

Father wants the best for family.

Many interesting stories from my father. How he was bullied at work, ask MP for help for hawker stall. How he keep delaying his Heart surgery for us, and finally got the community chest to heavily subsidize his medical bills from 38K to 8K

How he was not trusted with petty cash to give change to customers even when it's a family business and how pissed he was.

How he wanted to clearly state how his money will be split when he passes on. Not that there is a lot to be inherited anyway, but how he wanted jointed acc with us.

When my mum passes on, I dun care about her "money" and I also dun care if there is a fast one. I have some lingering thoughts of where the money is when my dad spoke of some issues. But to hell with it. I dun care about the money and I dun care the management of it. It the end, everything works out fine and well. 

I have only 1 son. I just want him to be independent, and can stand on our own. Just like what my father wanted of us. Anything more is a bonus.

Happy Father's Day 

Random thoughts: Swopping 3 Cs for 1 C

For my generation, the 5 Cs are Condo, Car, Country Club membership, career and cash. I think no one talks about them anymore.

I remember when I first blog a post about convincing my wife against selling HDB for a upgrade, there are readers that swear by the property Upgrade game to millionaireship

I have also know of many who wanted to leave behind a property for the children because HDB will cost 1 million in their time to come.

The topic still props up now and then. But I am glad we didn't bite. My wife is officially a "tai tai". She had a bad set of cards at work, working after dinner till 11 and then waking up at 4 am every weekday to continue to work. Hat off to her for hanging there for half a year. I might not last that long. Seeing her getting thinner, I told her to just quit for her own health reasons.

It's miserable enough, and she finally put down her decent paying job and rest. I ask her to give some tuition or just shop around to work for experience and development. 

Had we bought an EC then, (just last year we were at showroom talking to banker who told us we can get a million loan for 25 years based on our salary), we couldn't have the C we wanted. Comfort in life.

I have also sold my car, I intend to renew my FIL's car and take over his ownership. His car is a OPC and for the last almost 10 years has milleage of less than 40k. They felt there is no need to have the car since they have a van, but think it is a waste to scrap it. But they think the tax and renewal costs are ex. I proposed to take over the car. They happy, I happier. I used the money from selling the car for a family trip (including them, of course) to Taiwan.

I never like membership anyway. 

Cash is low. The only thing I have perhaps is a satisfying career. Lucky I have a C to console me when my ego is hurt looking at my peers flying high. I have comfort.

Random thoughts: 2017 1H in review

2017 has a been year of many significant changes.

In terms of work, I was given a 17 weeks period to study and develop myself. The course materials are so-so, but I think I read and reflect enough to go back to work with a new purpose. 

I think I am different, and my colleagues can tell the difference. I am not sure if it's for better or worse, but I think I am more firm and purposeful now, regarding what needs to be done. 

My friend told me I am calmer and speaks more clearly now. In my absence, 2 of my staff step up to the plate and they have found their own mojo. In fact, they are helping me much more than they used to. Life would be much easier, as I delegate some power to him. Good thing is, I am not so worried about being replaced. LOL. However; the working landscape has become treachery, and it is easier to be caught is the right side of the system if u believe in doing whatever is right for your kids and ignore all the bureaucracy.  

I am quite surprise I can still derives more satisfaction from teaching than I already did. Perhaps the course open my mind and hence my heart. I realize too many mistakes I made. I am not talking about the technicial stuff of teaching. I am talking about simple stuff like knowing the pupils. 

In terms of family, it's my 10 anniversary! Yeah! First time I planned this in details. Glad my wife like it. 

 

How time flies. It has been 10 years. Ocean Restaurant is really a nice place to have lunch, and a family walk around the SEA acquirium relaxing.

In terms of investing, since I started, I have never hold more than 50% cash in investible fund. I am holding 60% now, missing the boat and a whole lots fun until it's get exciting for me. 

Personally, I felt calmer. But I wonder if a storm

Is coming at times. I already use to think My intrapersonal skills is my strength as I seem to be able to hear my inner voice more often than others. Nowsaday, I sometime wonder if I am going crazy if I tell other people how loud and clear that voice has become. They might think I have gone Bonkers. That voice is your honest self, for better or worse. 

Looking at the night sky at sentosa is quite wonderful. I actually manage to see slow shooting stars. Defintely not a plane. Well, quite glad when I make a wish, I didn't wish for wealth or health. LOL 

随心笔：静水

清静的黄昏，湖面反射晚霞。

一切好平静，好安逸。

我走近湖边，发现湖布满了青苔。

快天黑了，周围好静，

彷佛时间静止了。

我看着没被青苔遮掩的一角，

看见了一身怪影。

我毛骨悚然，退了一步。

我再向前一看，

那影子面目阴森恐怖，

好像是自己。

捡起一块石头，

丢下湖中，水激起层层连波，

水不再平静，耳边隐约听到嘲笑声。

想转身走开，怎么就陷入湖中。

我冷静，不再挣扎。

湖中倒影越来越多，

水面慢慢又静止了。

我看清楚了，

那自己的倒影。

那好久没见的心魔。