November was a month of excellent financial progress with gains in my equities being supplemented by favourable commodity and FX movements and supported by savings. Cash flow from the properties was about break even as I had a vacancy. The result was a solid increase in net worth.
Here are the
1. my Hong Kong equity portfolio appreciated sharply. This was the source of most of the gains this month. I opened a position in Sinolink Holdings and added to my existing position in China VTM. I sold my shares in Yanzhou Coal;
2. my AU/NZ equities appreciated slightly;
3.my ETFs appreciated
in line with the local markets. The exception was Vietnam where a
combination of domestic market movements and FX losses caused the ETF to
4. my commodities rose with most of the gain being in
silver. I added to my silver position;
5. all but one of my properties were occupied with all tenants paying on
time. There was one vacancy. There were no repair bills;
6. currency movements were positive, as the NZD and AUD rose
against the HKD/USD;
7. my position in bonds remains small;
there were no open derivative contracts;
9. savings were average with
good income being matched by high expenses. Not only did I have to pay for the air tickets and hotels for our Christmas holiday but I added a few more cases of wine to the "cellar" I have built up in the UK.
My cash position fell slightly with more money going out than coming in. I currently hold 40 months
of expenses in HKD cash or equivalents. This is above my target floor of 24
For the month, my net worth increased by an impressive 3.6%. The
year to date increase is 27.2%. My retirement date has been fixed for the middle
of next year for reasons that have nothing to do with finance - financially, I
am past the point where I can afford to retire.