29 September 2017
Trades (29 Sep 2017)
AEM bought 2.51
UMS bought 0.97
ST Engineering added 3.47
Mapletree Com Tr added 1.51
CapitaMall Trust added 2.01
UMS bought 0.97
ST Engineering added 3.47
Mapletree Com Tr added 1.51
CapitaMall Trust added 2.01
Labels: Live Trading Records
28 September 2017
Trades (28 Sep 2017)
CapitaMall Trust added 2.02/2.03
Mapletree Com Tr added 1.51
Ascendas-iTrust added 1.065
UIC added 3.12
ST Engineering added 3.48
Sysma stopped out at 0.146 at profit
Mapletree Com Tr added 1.51
Ascendas-iTrust added 1.065
UIC added 3.12
ST Engineering added 3.48
Sysma stopped out at 0.146 at profit
Labels: Live Trading Records
27 September 2017
Trades (27 Sep 2017)
ST Engineering added 3.47
Mapletree Com Tr added 1.51/1.515
CapitaMall Trust added 2.02
Ascendas-iTrust added 1.07
UIC added 3.13/3.14
US: WALGREENS BOOTS ALLIANCE INC short position trailingly stopped out at 78.52 at profit
Mapletree Com Tr added 1.51/1.515
CapitaMall Trust added 2.02
Ascendas-iTrust added 1.07
UIC added 3.13/3.14
US: WALGREENS BOOTS ALLIANCE INC short position trailingly stopped out at 78.52 at profit
Labels: Live Trading Records
26 September 2017
Trades (26 Sep 2017)
ST Engineering added 3.48
Mapletree Com Tr added 1.51
CapitaMall Trust added 2.02
CapitaLand added 3.55
UIC added 3.14
Rowsley stopped out at 0.13 at profit
Mapletree Com Tr added 1.51
CapitaMall Trust added 2.02
CapitaLand added 3.55
UIC added 3.14
Rowsley stopped out at 0.13 at profit
Labels: Live Trading Records
25 September 2017
Trades (25 Sep 2017)
CapitaMall Trust added 2.03/2.04
CapitaLand added 3.57/3.59/3.61
ST Engineering added 3.49/3.50
Olam Intl bought 1.98
Mapletree Com Tr added 1.52
Yuuzoo stopped out 0.065 at a minor loss
US: MORGAN STANLEY stopped out (trailing stop) at 47.71 at profit
CapitaLand added 3.57/3.59/3.61
ST Engineering added 3.49/3.50
Olam Intl bought 1.98
Mapletree Com Tr added 1.52
Yuuzoo stopped out 0.065 at a minor loss
US: MORGAN STANLEY stopped out (trailing stop) at 47.71 at profit
Labels: Live Trading Records
23 September 2017
The top stock-market strategy of the past 50 years
(Note: This is what TopTrader wants to do! Apply a similar strategy to Singapore stocks, assigning a score for each fundamental parameter (can be more than those mentioned in the article below such as debt level, interest coverage etc.) for each stock from 1 to 750, then look at the top 50 companies based on the combined score of all parameters. Rebalance the portfolio once every 6 months.)
By JAMES O’SHAUGHNESSY and PATRICK O'SHAUGHNESSY
Sadly, investors tend to have terrible timing. One study by John Bogle, the founder of mutual-fund firm Vanguard Group, found that for the 20 years ending 2003, the S&P 500 Index SPX, +0.06% returned 13% per year, while the average mutual fund returned 10.3% and the average investor achieved just a 7.9% annualized return. And that was before all of the emotional selling caused by the crash of 2008!
Another tragic example of mistimed asset allocation comes from the American Association of Individual Investors. AAII has surveyed its members since 1988, asking them what their current allocation is to stocks, bonds, and cash. The highest weight to cash — and lowest weight to equities — in the history of the survey was in March 2009, right at the bottom of the worst bear market since the 1930s. When was the highest weight to equities? January 2000, near the absolute top of the stock market’s 20 year bull run.
Clearly, panic and greed lead people to do the wrong thing at the wrong time — and to do so consistently.
Trending Value: Exceptional long-term performance
We believe the answer to this problem is re-framing each individual’s investing goals, time horizons, and strategies. Find the best, time-tested investment strategies and stick to them for long periods and through inevitable stretches of underperformance. With discipline, beating the market and earning strong returns over time is achievable.
In the fourth edition of “What Works on Wall Street,” we have identified what we believe to be the most successful investment strategies over very long periods. Many strategies in this book were tested back to 1927, which allowed us to evaluate them during recessions, runaway bull markets, and the Great Depression.
With this new research, we have refined the way that we measure characteristics in a way that boosts returns. We found that an updated combination of value and momentum strategies — a tactic we call “Trending Value” — is the best performing strategy since 1963.
Its annualized return of 20.58% through Sept. 30 crushes the All Stocks benchmark (an equally weighted benchmark of stocks with an inflation adjusted market cap great than $200 million), which has a return of 10.71%. Plus, the Trending Value approach achieves its return with a volatility of 17.69%, lower than the benchmark’s 18.26%.
2012 Outlook: Meeting in the Middle
The strategy makes use of one of the main innovations from the book: the use of a composite value factor. In the original publication, we identified price-to-sales as the most effective value factor. In this latest edition of the book, we have learned that a composite that combines several different value factors delivers stronger returns and more consistency than any individual factor.
By spreading our bets and ensuring that a stock is cheap in a variety of ways, we believe we can identify better stocks. One version of the composite value factor combines the following measures of value:
• Price-to-Sales
• Price-to-Earnings
• Price-to-Book
• Price-to-Cash Flow
• EBITDA/Enterprise Value
• Shareholder yield (dividend yield + rate of share repurchases)
Each stock in the universe gets a score of 1 to 100 for each of these factors. The final value score is an average of these scores. The Trending Value portfolio narrows the investable universe to the 10% of stocks with the best score based on the value composite, and then selects a concentrated portfolio of 25 stocks based on trailing six-month momentum.
This simple combination builds a portfolio of extremely cheap stocks that are on the mend. The combination of value and momentum works better than either of these factors on its own.
Examples of stocks currently passing this strategy are Advance America Cash Advance Centers Inc. AE.A, +0.00% , Tesoro Corp. TSO, +0.00% , and Smithfield Foods Inc. SFD, -9.37%
Of course, we certainly expect there to be stocks in our strategies that underperform, and these three stocks may not perform well in the coming year. But we also know that a diversified portfolio of stocks with the characteristics these stocks currently posses has fared extremely well over time. By focusing on the long term, and taking advantage of market volatility rather than being scared off by it, investors can beat the market in the long term and achieve their investing goals.
James O’Shaughnessy is Chairman and CEO of O’Shaughnessy Asset Management, and author of “What Works on Wall Street.” Patrick O’Shaughnessy is a Research Analyst at O’Shaughnessy Asset Management.
By JAMES O’SHAUGHNESSY and PATRICK O'SHAUGHNESSY
Sadly, investors tend to have terrible timing. One study by John Bogle, the founder of mutual-fund firm Vanguard Group, found that for the 20 years ending 2003, the S&P 500 Index SPX, +0.06% returned 13% per year, while the average mutual fund returned 10.3% and the average investor achieved just a 7.9% annualized return. And that was before all of the emotional selling caused by the crash of 2008!
Another tragic example of mistimed asset allocation comes from the American Association of Individual Investors. AAII has surveyed its members since 1988, asking them what their current allocation is to stocks, bonds, and cash. The highest weight to cash — and lowest weight to equities — in the history of the survey was in March 2009, right at the bottom of the worst bear market since the 1930s. When was the highest weight to equities? January 2000, near the absolute top of the stock market’s 20 year bull run.
Clearly, panic and greed lead people to do the wrong thing at the wrong time — and to do so consistently.
Trending Value: Exceptional long-term performance
We believe the answer to this problem is re-framing each individual’s investing goals, time horizons, and strategies. Find the best, time-tested investment strategies and stick to them for long periods and through inevitable stretches of underperformance. With discipline, beating the market and earning strong returns over time is achievable.
In the fourth edition of “What Works on Wall Street,” we have identified what we believe to be the most successful investment strategies over very long periods. Many strategies in this book were tested back to 1927, which allowed us to evaluate them during recessions, runaway bull markets, and the Great Depression.
With this new research, we have refined the way that we measure characteristics in a way that boosts returns. We found that an updated combination of value and momentum strategies — a tactic we call “Trending Value” — is the best performing strategy since 1963.
Its annualized return of 20.58% through Sept. 30 crushes the All Stocks benchmark (an equally weighted benchmark of stocks with an inflation adjusted market cap great than $200 million), which has a return of 10.71%. Plus, the Trending Value approach achieves its return with a volatility of 17.69%, lower than the benchmark’s 18.26%.
2012 Outlook: Meeting in the Middle
The strategy makes use of one of the main innovations from the book: the use of a composite value factor. In the original publication, we identified price-to-sales as the most effective value factor. In this latest edition of the book, we have learned that a composite that combines several different value factors delivers stronger returns and more consistency than any individual factor.
By spreading our bets and ensuring that a stock is cheap in a variety of ways, we believe we can identify better stocks. One version of the composite value factor combines the following measures of value:
• Price-to-Sales
• Price-to-Earnings
• Price-to-Book
• Price-to-Cash Flow
• EBITDA/Enterprise Value
• Shareholder yield (dividend yield + rate of share repurchases)
Each stock in the universe gets a score of 1 to 100 for each of these factors. The final value score is an average of these scores. The Trending Value portfolio narrows the investable universe to the 10% of stocks with the best score based on the value composite, and then selects a concentrated portfolio of 25 stocks based on trailing six-month momentum.
This simple combination builds a portfolio of extremely cheap stocks that are on the mend. The combination of value and momentum works better than either of these factors on its own.
Examples of stocks currently passing this strategy are Advance America Cash Advance Centers Inc. AE.A, +0.00% , Tesoro Corp. TSO, +0.00% , and Smithfield Foods Inc. SFD, -9.37%
Of course, we certainly expect there to be stocks in our strategies that underperform, and these three stocks may not perform well in the coming year. But we also know that a diversified portfolio of stocks with the characteristics these stocks currently posses has fared extremely well over time. By focusing on the long term, and taking advantage of market volatility rather than being scared off by it, investors can beat the market in the long term and achieve their investing goals.
James O’Shaughnessy is Chairman and CEO of O’Shaughnessy Asset Management, and author of “What Works on Wall Street.” Patrick O’Shaughnessy is a Research Analyst at O’Shaughnessy Asset Management.
Labels: Stock Trading System
22 September 2017
Trades (22 Sep 2017)
CapitaLand added 3.59
Mapletree Com Tr added 1.515
ComfortDelGro added 1.955
Jadason^ bought 0.091
Mapletree Com Tr added 1.515
ComfortDelGro added 1.955
Jadason^ bought 0.091
Labels: Live Trading Records
21 September 2017
Trades (21 Sep 2017)
CapitaLand added 3.62
ComfortDelGro added 1.97
ST Engineering added 3.50
Jiutian Chemical sold 0.043 at profit
ComfortDelGro added 1.97
ST Engineering added 3.50
Jiutian Chemical sold 0.043 at profit
Labels: Live Trading Records
Trades (20 Sep 2017)
CapitaLand added 3.63/3.64
ST Engineering added 3.51
Mapletree Com Tr added 1.515
Singapore O&G bought 0.475
US: APPLIED MATERIALS INC bought 47.45
ST Engineering added 3.51
Mapletree Com Tr added 1.515
Singapore O&G bought 0.475
US: APPLIED MATERIALS INC bought 47.45
Labels: Live Trading Records
Trades (19 Sep 2017)
Jumbo added 0.53
US: REGENERON PHARMACEUTICALS bought 429.33
US: T-MOBILE US INC shorted 64.98
US: REGENERON PHARMACEUTICALS bought 429.33
US: T-MOBILE US INC shorted 64.98
Labels: Live Trading Records
Trades (18 Sep 2017)
SIA Engineering added 3.36
Labels: Live Trading Records
15 September 2017
Trades (15 Sep 2017)
SIA Engineering added 3.39
CapitaLand added 3.65
ST Engineering bought 3.52
Sembcorp Ind added 2.92
UIC bought 3.22
Boustead added 0.83
US: CISCO SYSTEMS INC shorted 32.48
CapitaLand added 3.65
ST Engineering bought 3.52
Sembcorp Ind added 2.92
UIC bought 3.22
Boustead added 0.83
US: CISCO SYSTEMS INC shorted 32.48
Labels: Live Trading Records
14 September 2017
Trades (13 Sep 2017)
US: HOLOGIC INC bought 37.12
Labels: Live Trading Records
Trades (14 Sep 2017)
China Aviation stopped out at 1.60 at a minor loss
Rowsley bought 0.123
Jiutian Chemical bought 0.039
CapitaLand bought 3.66
Jardine C&C bought 38.86
SIA Engineering added 3.39
US: CERNER CORP short position stopped out at 71.33 at a 1R loss
Rowsley bought 0.123
Jiutian Chemical bought 0.039
CapitaLand bought 3.66
Jardine C&C bought 38.86
SIA Engineering added 3.39
US: CERNER CORP short position stopped out at 71.33 at a 1R loss
Labels: Live Trading Records
13 September 2017
Trades (12 Sep 2017)
US: TRACTOR SUPPLY COMPANY shorted 60.97
Labels: Live Trading Records
Trades (11 Sep 2017)
Sincap added 0.015
US: CELGENE CORP stopped out at 139.21 with profit
US: UNITED PARCEL SERVICE-CL B shorted 115.63
US: CELGENE CORP stopped out at 139.21 with profit
US: UNITED PARCEL SERVICE-CL B shorted 115.63
Labels: Live Trading Records
08 September 2017
Trades (07 Sep 2017)
US: TJX COMPANIES INC shorted 73.50
Labels: Live Trading Records
Trades (08 Sep 2017)
07 September 2017
Trades (06 Sep 2017)
Raffles Medical added 1.06
Labels: Live Trading Records
Trades (05 Sep 2017)
Trades (04 Sep 2017)
Aoxin Q & M reduced 0.235
Sincap added 0.019
Sembcorp Ind added 2.92
SingTel added 3.69
US: JBLU bought 19.18
Sincap added 0.019
Sembcorp Ind added 2.92
SingTel added 3.69
US: JBLU bought 19.18
Labels: Live Trading Records
02 September 2017
Trades (01 Sep 2017)
US: Kraft bought 80.30
Labels: Live Trading Records
