I hold 250,000 shares of China Petroleum (0386.HK) at an average cost of $4.06 HKD. Four months ago, the stock price reached a low of $2.95. I suffered a paper loss of $277,500 ($47,600 SGD).
I was not worried, as the stock had a price earning ratio of 8 times and a dividend yield of 9%. I could keep the stock for the attractive dividend and wait for the price to recover.
I did not have to wait long.
The price has now recovered to $4.36. Instead of a paper loss, I am now seeing a paper gain of $75,000 ($12,800 SGD).
I helped a friend to invest in this stock during the past few months. He has seen a large paper gain, and also look forward to an attractive yield.
1 comment:
To be fair to the people of the republic, interviews should be picked randomly from at least
50 people who will be a good representation of what they felt about the budget. Afterall it
is the taxpayer's money not anybody's own money. We should not recycle hand-picked people
who has self-interest, benefitted from the 100 million(oops billions) and who had to say the
right thing because they have a job to keep. At least once, can we keep it unpolitical?
February 18, 2021 9:04 AM
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