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Kai Kai Boon

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Kai Kai Boon

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Kai Kai Boon

  • Answers (5)
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REITs

Investments

Stocks Discussion

(Stocks Discussion) SGX: CAPITALAND MALL TRUST REIT (SGX:C38U)?
Kai Kai Boon
Kai Kai Boon
Level 3. Wonderkid
Updated on 07 Jun 2019
I believe CapitalMall Trust is a long-term strong buy based on the following reasons: 1) Strong Management Team : Since inception, DPU (Distribution Per Unit) has risen by a CAGR of 13.1%. This is attributable to successful active management of the malls under Capitamall Trust through value-creation activities - Refurbishment of the malls, active engagement of shoppers through events such as "Tales of the River at Clarke Quay" to differentiate shopping experience. 2) Upcoming Catalyst : New Funan Digital Mall coming online in Mid 2019 this year that would further boost DPU for Capitamall Trust. Given the rebranding and refurbishment, the rental per sq foot is expected to rise for Capitamall Trust as well, further providing tailwainds to Capitamall Trust. 3) Debt Maturity : Average debt maturity stands at 4.4 years, which seems reasonable and the company is unlikely to face serious cashflow needs in the short term. Even in the need to raise additional debt, the company's A2 credit rating would allow the company to meet its cashflow needs relatively easily. 4) Valuation : Based on DPU oof 11.5 cents, current share price of $2.34/share, Distribution Yield stands at 4.91%. Currently, FTSE Straits Times Real Estate Index 12 month yield stands at 4.5%. Given the high quality asset and strong management team at Capitamall Trust, I believe the company should trade at a premium against FTSE Straits Time Real Estate Index. This would imply a yield below of 4.5%. Given that current yield is higher than that of FTSE Straits Times Real Estate Index, I would believe that it is a good buy.
ūüĎć 5

Investments

Stocks Discussion

Snap(+10%) rallies after long time skeptics Greenfield labels Snapchat a "Buy". A 10% price swing simply from this seems like an overreaction to me. Just curious what the community thinks?
Kai Kai Boon
Kai Kai Boon
Level 3. Wonderkid
Answered on 15 Mar 2019
I think so too. But US market has traditionally to be proven to be the more volatile market compared to other market. Like how Benjamin Graham puts it "In the short run, the market is a voting machine. But in the long run, the market is more like a weighing machine.". In the short run, the market will always be driven by sentiments, either overly optimistic or overly pessimistic sentiments.
ūüĎć 0

Investments

What alternative investments should I buy in 2019?
Kai Kai Boon
Kai Kai Boon
Level 3. Wonderkid
Answered on 15 Mar 2019
As a diversification, you can consider Gold, REITS, TIPS, Wine, Fine Art.
ūüĎć 0

Bonds

Investments

I'm currently 25, with a $65,000 yearly income. I'm looking to construct a 100% equities portfolio to hold for the next 10 years, before slowly adding bonds. Is that a good strategy?
Kai Kai Boon
Kai Kai Boon
Level 3. Wonderkid
Answered on 15 Mar 2019
I would think that a 100% equities strategy make sense if you have the risk appetite, being able to withstand market volatility and not sell in panic. Otherwise it is always good to have bonds (20-25%) that you can re-balance and smooth out the volatility in your portfolio.
ūüĎć 0

Cryptocurrency

Investments

If you're supposed to buy low, why isn't everyone investing in cryptocurrencies right now?
Kai Kai Boon
Kai Kai Boon
Level 3. Wonderkid
Answered on 15 Mar 2019
I would say that "low price" for any asset can only be determined if the asset is selling below its intrinsic value. In this case, a low price asset would be one that is selling below its discounted cashflow, based on traditional finance valuation methodology. In the case of cryptocurrencies, there is no inherent cashflow associated with it. This makes it hard to determine what is a fair value of the asset, let alone to conclude that it is low and good to enter. Some may argue cryptocurrency is going to replace fiat currency and thus "the sky is the limit". But I would caution against holding such a thesis. The simple reason is because fiat currency has some real value since it is backed by the trust and gurantee of the government who in turn holds asset. Cryptocurrency on the other hand, has no real backing. Rather, cryptocurrency relies on individuals trusting that the network will not fail them and that players would adhere to the rules in the shared ledger. There is no gurantee nor assets underlying cryptocurrency that makes the argument a flawed one.
ūüĎć 1
Level 3. Wonderkid
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