It's time for another update for the month once again.

I've been so busy with work recently that I don't have much time to monitor and research the market much. Other than returning from our holiday trip in Penang, I've also been assigned to go to the Bangkok office for a week hence the running here and there. I've also had some issues relating to my health (toothpain) as I needed to extract out my wisdom tooth later in the week, so that's another thing that I am worrying about.

It seems like I did quite a bit of divesting as I trimmed down the number of stocks in my portfolio as I went heavier in cash nowadays, I guess I really am not able to find anything with compelling value. I am currently monitoring some hotel developers like Grand Hotel Central and FEO as I think they'll do well in the next couple of years with the sector. I'll have to wait for the right time for this.

During the month, I made a full divestment for Fraser Commercial Trust (FCOT) at $1.37 after they announced that their anchor tenant, Hewlett Packard, will not be extending their lease at Alexandra Tech Point. It's quite weird because I actually know much earlier that they will be moving to Depot road through the course of my job but for some reason I didn't expect them not to announce it to the public yet only until recently. In view of the uncertainties, I am out of this first meanwhile and will hunt for something else.

I also divested the rest of my CDL Hospitality Trust (CDLHT) at $1.63, which represents a pre-rights price of $1.71. Some might recall that I used to have this as my top position earlier in the year before I divested them bits by bits. I had a bit of doubts in my decision when I consider this because we all know the hospitality sentiments are now turning back up, but for some reason I am not very comfortable with the valuation they are now. It just doesn't seem there are too much margin of safety here at this price.

I used some of the proceeds to accumulate more positions in Comfortdelgro and M1 as I tried to build a bigger position in these two currently. I am just adding them a bit each month as and when my cash allows as I still have belief in them that most of the bad news have been priced in by the market, even to the extent too much reaction from them.

You can view the full detailed transaction here.

The portfolio has decreased from $620,386 in previous month to $613,980 this month (-1.1% month on month; 38.9% year on year).

To be frank, the second half of the year has been a year of underperformance as it did nothing but down in general and I do not expect my performance to turn around anytime soon. On the other note, I do not have any properties and banks in my portfolio either so it'll be a matter of time before I trail the market. But let's see how it goes by the year end.

The earnings season is here again and I am looking forward to it once again as I will kick start monitoring closely the companies I have in my portfolio.