hello pezz, today's tally
position on nav is at -6.81% ytd:
- 32.8% cash (10.3% cad, cratering, rest usd/hkd appreciating to everything else, mostly in short term debt and must be kept dry for possibly 8+ lean years, for my wife is running scared, and if she is scared, others must be terrified)
- 14.4% gold (tanking, and the allocation to gold naturally decreases as prices tank, even as i am buying faster ;0/
- 32.6% real estate (not marking to any market, just on cost basis adjusted once so many years)
- 20.2% equities (canadian energies, pro-japan and anti-usa real estate, solar play, one gold share)
on the situation in hkg:
my single and good-looking (oops, did i say that?!) sister-in-law's says that her work-day yoga class in central business district has suddenly and very noticeably been flooded with idle, able-bodied, but perhaps less eligible men, and over heard sentence fragments were
"i wonder how bad it will get ..."
"jim just bit the big one ..."
"i miss my desk ..."
on the situation in hkg real estate:
(a) a singaporean financial type just plopped down 3 months of advance money and 2 months deposit, in cash, for a studio of my real estate club, so that he can visit hkg whenever and more economically - should the remaining 3 units go at the same level, and the g/f shop get renewed in november, then the yield would be 5.45% on cost, even as neighborhood continues improvement and someone is trying to consolidate plot and conversing with us on buyout at the 2x level.
(b) highly priced apartments and such speculated on by the masses have taken a 30% hit from the peak (june 2008), but the industrials the club bought are holding value better, at 10% below peak price, but 33% above our cost
(c) the small studios are all rented except for 3 units, and should be in more demand as what used to be folks of better means shift down a notch or ten step or a cliff
chugs, tj |
