30 Jan '17, 1pm

Portfolio Update: Divesting DBS for a 27.6% profit: I have divested my holdings in DBS at $19.16 per share to…

I have divested my holdings in DBS at $19.16 per share to record a healthy 27.6% total profits (including dividends). (prices include transactional costs) Reasons for divestment: 1) Target Price DBS’s 5 year average Price to Book (PB) ratio is at around 1.15 , which I used to construct my target price benchmark. In its September 2016 financial statement, DBS had listed its net book value at $16.68. My selling price is thus close to 1.15x its net book value as of September 2016. Data from DBS September 2016 financial statement $19.16 is also around 1.1x DBS’s book value based on my calculations. 2) Realization of Investment Theses I feel that most of the upside I had anticipated when I first initiated my position in DBS had already been realized (you may read about them here ). For example, oil prices are …

Full article: http://thefinance.sg/2017/01/30/portfolio-update-divestin...

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