Blood in The Street & Recent Sale

I added BT PLC on Tuesday (read here) as I felt smart money was switching to defensive play to prepare for blood in the street. I wasn't expecting the blood shedding to happen almost immediately on the next day. Dow lost around 800 points on Wednesday and 500 points on Thursday. Looking at the longer horizon, we need more sell off for value to emerge.

When market recovered slightly on Friday, I took the opportunity to sell some of my shares that were more "cyclical" or shares that I didn't intend to hold for longer term:

• 3000 shares of Sinopec Engineering @ HKD 8.05. I first bought it in August 2016 with average price of HKD 6.64. Both capital appreciation and total dividends received gave me a CAGR of 11.25%
• 180 shares of BHP Billiton PLC @ GBP 15.844. It was a good ride for me as I bought it around GBP 9.65 in August 2016. With all dividends received, it gave me a CAGR of 33% per annum. I like BHP Billiton PLC and I will definitely look at good opportunity to reenter.
• 320 shares of British Land Co PLC @ GBP 5.744. I wasn't sure what the impact of BREXIT towards UK property prices and rental incomes would be. The 10% tax slapped on the distribution was also the second factor for me to exit the position.

Aside of selling equities, I also sold all my holding of United SGD Fund Class A (short term bond unit trust). My equity allocation is now a lighter 40% vs bond/cash of 60%. I'm looking forward to increase my equity allocation again when STI broke below 3000 psychological support.