February is a month of two halves. The first half of the month had been phenomenal with prices of Apple Inc (AAPL) reaching $360 and Las Vegas Sands (LVS) $48. The second half of February turned out to be bad with the violences and uncertainties in the MENA region. There were also rumors about the health condition of Steve Jobs which caused Apple's stock to plummet, wiping out the majority of our profits from the spectacular first half of the month.
TSTA was up 0.91% in February. We underperformed as compared to the S&P 500 which was up 3.18%. Asian markets were not doing well at all with Singapore's FTSE-STI down 5.32% and Hong Kong's Hang Seng down 0.47%.
On an accumulated basis, TSTA is up 2.73% for the year. S&P 500 is up 5.52%, FTSE-STI is down 6.25% and Hang Seng is almost flat, gaining just 0.87%.
Portfolio
- Apple Inc was up 4.32% (Steve Job health rumors)
- LVS was up 0.32% (Major hedge funds sold LVS)
- Citigroup (C) was down 2.9% (Downgraded by GS)
- Genting SP was down 5.45% (4Q result failed to impress)
- MGM Resorts was down 9.08%
- CapitaCommercial was down 2.47%
We closed our positions with China MediaExpress after factoring the risk factor involved. We made a loss of 18.47% for this trade.
February Transactions
We added a very small position for MGM Resorts International at the price of $15.24 and CapitaCommercial Trust at $1.41.
*Note : Calculation was based on SGD/USD exchange rate of 1.275