Bloody SingNet and a Few Updates

Damn SingNet connection has been giving me big problems recently. Lost my internet connection back at home and apparently SingNet couldn't find out what's the problem. I'll only be able to update on our portfolio once they got it resolved.


Meanwhile, it seems like we have been pretty lucky for the past week. If you have been following my trades, we would have taken profit on MGM Resorts International before the stock tumbled due to the disappointing result expectation.


The rest of our current portfolio seems to be doing ok. Iron Mountain is slowly climbing back since 5 Oct 2010. The company stock is now trading around $21.50 for a paper profit of about 3.8%. I've managed to enter Quiksilver Inc at the price of $4.16 and this counter is sitting comfortably at $4.38 now. Rick's Cabaret is also doing well at $7.49 now. That's about 7% in the money for us. Ezra Holdings from SGX is trading at $1.87 before dropping to $1.82 today. Anyway, we'll be holding this till the rights shares are available for trading.


Most of you would have already noticed we've been selling of alot of our positions and holding on to some cash. I'm waiting for the market to tank a little before trying to find for some good counters that's been trading at discounted prices.


Be patient and good luck ahead!

NYSE : Iron Mountain Inc

Iron Mountain Inc

Iron Mountain Inc is one of Warren Buffett's favourite stock recently. The Berkshire Hathaway has over few occasions acquired a big amount of the company stocks.

Yesterday was a bad day for Buffett, Berkshire as well as Iron Mountain. The stock drop a whole 10% before pulling back slightly to close at a drop of 8.6%. This come amidst news of the company's 2011 forecast results, which of course is worse than expectations. At the same time, Iron Mountain has authorized about $200mil for another round of share buy back program.

Overall company financial statement looks sound and company is making good profits. The shares buy back should also help to improve the value of the liquid stocks in the market. I'm giving this counter a buy with a long-term view.

Entry Price : US$20.45

Cut Loss Price : To be safe I'll put it as US$19.50