Yesterday I heard rumors out there/minority investors like us saying price of Oil is rock bottom and rebounding due to reason A, reason B and reason C. Providing all the studies and news stated why is has bottomed. KLSE Composite Index as at 11/11 is about PE 17++. With PE 17, market is not cheap; in fact we have one of the highest PE in SEA. One of the reasons our ‘Virtual Tracking Portfolio’ has not been buying/accumulating shares around 1 month (stopped at 30% shares / 70% cash). Market is choppy and our crystal ball is not working to tell us where the bottom of oil price is!
Stick to our investment plan:
To deploy another 20% at PE 9 +- : Price around 2.87
To deploy another 20% at PE 8 +- : Price around 2.55
To deploy another 20% at PE 7 +-: Price around 2.23
To deploy my last 20% at PE 6 +- : Price around 1.91 (near to lowest post IPO on 2012)
Back to my friend who works in a company going for IPO. Guess what, the management is delaying the IPO date! One of the many reasons; Outlook for 2015 1st half is expected to be challenging. If the potential IPO Company is delaying their BIG IPO PLAN, as a small IKAN BILIS, perhaps I should sit down and drink some coffee, take my own sweet time to accumulate SKPETRO.
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