Previously we had bought Rexlot at HKD0.65, see here.
Warren Buffett said we should be greedy when market is fearful and we should be fearful when market is greedy. Currrently stock markets are very high and most investors are optimistic and greedy as we enter the new year, we believe this is the time to be fearful. A correction in stocks can happen anytime. So we decide to sell our Rexlot Holdings to raise cash level for our portfolio.
Rexlot Holdings has been paying 2.50% dividend yield.
Sold Rexlot at HKD0.70 for 7.69% profit.
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“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” - Warren Buffett