第三季结

第三季组合因本地，中美，Brexit 内外夾擊，跌了6.93%。最傷是一路支持組合又重倉的本地Reits 大跌。地產一纇已帶夾-4.47%。期權帶來0.25%回報。

本季新加了GEO一條直債。期權主力做Short Side也多次成功。美股比重再調高

七月結

大市在六月初在26800 水平見底，七月上破不了29000。組合加了的700,2601,3883回報不錯。386,2007 捱緊。


本月组合: -2.05% 相對恆指 -2.3% 的跌幅低。

REITS 也守不住，逆減息下跌，會考慮加倉。

700 正股+Short Put 雙嬴, 2601正股Ok，2628 Short Put 平了, 1093 Short Put 平了一手。

美股方面，BABA表現OK。Store Capital 繼續Hold 同AMD 正股Short Call 也在業績後平了。

S REITS 繼續升，下次派息會用作還Margin 息。

Bonds 作出了第一次買入。

UK Reits 加了BLND

Privacy Policy

 

Privacy Policy

Privacy Policy

The following are the various personal data we collect and the reasons for collecting it

1. Comments:

We will collect the data displayed in any visitor’s comments on the website, as well as the visitor’s IP address and browser user agent string to help detect spam.

An anonymous string (also called a hash) created from your email address may be provided to the Gravatar service to see if you are using it. After approving your comment, your profile photo is visible to the public in the context of your comment.

2.Images/Media:

If you upload images to a website, you should avoid uploading images that contain embedded location data (EXIF GPS). Visitors to the website can download and extract any location data from the images on the website.

3. Contact Forms & Cookies:

If you leave a comment on our website, you can choose to save your name, email address and website in a cookie. These are for your convenience, so that you don’t have to fill in your details again when you leave other comments. These cookies will last for one year.

If you have an account and log in to this site, we will set a temporary cookie to determine whether your browser accepts cookies. This cookie does not contain any personal data and will be discarded when you close your browser.

When you log in, we will also set multiple cookies to save your login information and screen display choices. The login cookie lasts for two days, and the screen option cookie lasts for one year. If you select "Remember me", the login will last for two weeks. If you log out of your account, the login cookie will be deleted.

If you edit or publish an article, an additional cookie will be saved in your browser. This cookie does not contain any personal data and only represents the post ID of the article you just edited. It expires after 1 day.

4. Embedded Content:

Articles on this website may contain embedded content (such as videos, images, articles, etc.). The behavior of embedded content from other websites is exactly the same as the behavior of visitors visiting another website.

These websites may collect data about you, use cookies, embed other third parties to track and monitor your interaction with the embedded content, including tracking interactions with the embedded content when you have an account and are logged in to the website.

5. Google Analytics - Data preserved period :

If you leave a comment, the comment and its metadata will be retained indefinitely. This way, we can automatically identify and approve any follow-up comments without having to keep them in the review queue.

For users who register on our website (if any), we also store the personal information they provide in their user profile. All users can view, edit or delete their personal information at any time (unless they cannot change their username). The site administrator can also view and edit this information.

6. Rights to your data :

If you have an account or have any comments on this site, you can request to receive an export file of your personal data (including any data you provide to us) that we save. You can also ask us to delete any personal data we hold about you. This does not include any data that we must keep for administrative, legal or security purposes.

7. Data sending location:

Visitor comments can be checked through an automatic spam detection service.

8. Obey《Children's Online Privacy Protection Act》:

It is especially important to protect the privacy of minors and young children. Therefore, we will never collect or maintain information under the age of 13 that we actually know on our website, and no part of our website will attract users under the age of 13.

9. T&C You accepted:

When using this website, it means that you accept this policy and terms of service. If you do not agree with this policy, please do not use our website. After you post the changes to this policy, your continued use of this website will be deemed as your acceptance of these changes.

Contact information: If you encounter any problems with the content or website, please feel free to write to us on the contact form.

六月結

大市在六月初在26800 水平見底，組合成功加了700,2601,3883,386,2007。月尾G20習特會也有正面消息，而美股先一步炒減息回升了。


本月组合: +5.83% 相對恆指 + 6.69% 的升幅低。

特步回升了，正通還在低位幸好倉位很少，建滔損失比較大因倉位不少，但已近殘值下半年希望好轉，中飛就希望下半年減息有機會再上。長和Short Put 成功平手走了。新創建繼續失望。

700 正股+Short Put 雙嬴, 2601正股Ok，2628 Short Put 也有利潤, 1093 Short Put 平了兩手。

美股方面，BABA 依計劃開始建倉。也加了Store Capital 同AMD。

S REITS 繼續升，下次派息會用作還Margin 息。

69,612,616 之我感

本星期因香港的情况，感到傷心，失望及憤怒。

一路以來也偏向政治冷感，但今次逃犯條例因影響每一個人就不得關注。政府的一意孤行，意見接受態度照舊，令人心寒。

有人鬧學生612暴力，但政府百萬人遊行也不理，照硬推上馬。老實說如果不是製造混亂去阻止，今天條例已經通過了。萬事也有因果。

每個人也從自身情况去看事情。中老年人經歷了香港最美好的時代，名成利就，自然希望現狀維持下去。年青人面對物價飛升，學位QE，國内精英的競爭，自然灰心，當失望成了絕望，自然希望打破困境。所以他們自然就會對立。

政治就是妥協的藝術，只有一人行前一步才有可能化解，希望有大智慧者領導香港。

天佑我城

五月結

五月由一開始恆指超過三萬點，一支大陰燭二千七百九十點，打穿了保歷加通道月線中線。固然是因為貿易戰重啓，再來加深環球經濟的憂慮。華為的事件更打擊了科技板瑰，組合冇可避免受到一定的傷害。

本月组合:-5.97% 相對恆指 -8.41% 的跌幅只是輕微好少少。

港股方面未有在跌八百點那一天狠心斬倉，令组合損失比預期大。特步，正通，建滔，中飛，二三線股是潮退時好難捱。長和也因Brexit 回落但因估值低，也可以守。新創建也十分失望，發揮不了避險功能。比較好是在高位走了平保再Long Put。Long Put 恆生也成功。

组合了700 正股+Short Put, 2601正股，2628 Short Put, 1093 Short Put

2388 Short Put 結算接了兩手，再在30元再Short Put。

美股方面，由於與港股有時間差，也成功在相對高位走了 AAPL, MSFT, V, NVDA, GOOS, BABA。BABA 業績大好，在165元開始建倉。

S REITS 加了Manulife US Reits 增加了美國房地產的Exposure

五月過山車

五月開局本來一片光明，不過貪勝不知輸，月初睇指數有上升動力，一路有做的指數熊跨就想等上到30500先開，結果比特Thanos突襲，一個星期跌左3.74%。而家美股減了六成倉位，港股因二線股跌幅已近殘價而且注碼有控制暫時要坐，平保因為季績大好再在高位追回一半，而家買了LP作保險。長和就已經價殘，SP@77.5如果入價就接。所有REITS繼續坐同以股代息，新加了BTOU作為美國REITS的Exposure。

貿戰不知會怎樣，經過上次美股後來追跌的經驗，只剩四成倉位，而家是比較輕鬆，再看看後續發展再決定補回。

今次突襲基本上硬食了，學費交了當然要寫低佢:

1. 四月時因组合跑輸HSI，心急加了長和，同幾隻二線股，果然財不入急門。

2. 對冲不可以等最高位做，因為目的是保險而非希望賺錢。

3. 星期一基本上反應不來，應果斷減倉，貪心想博假跌。

4. 今次冇用指數期權，有了上年經驗，市場混亂時，指數完全可以亂Chok。今次用自己倉位的OTM LP 買保險就算了。

政治市基本上冇得估，不過利息就一定冇得升，再有可能放水。倉位會繼續高息股，REITS，Baby Bonds. 再跌就找本地股買或SP。

HK: 16, 27, 2, 2318, 2601, 2388, 11, 1299, 700, 1030,

S-REITS: RW0U, M44U, Me8U, BTOU

US: Visa, AMZN, GOOS, MSFT, APPL, NVDA, CRM, WDAY