2019 投資回顧

黎年投資其實幾難，尤其九月至十一月SAAS大跌，自己都有少少中招。幾回換馬惡戰，幸好十二月取得今年四成嘅利潤，達到年回報+26%。


年內最大貢獻的是ZTS、V，最嘔血的是上半年的企鵝牛不斷輸錢。港股要不是有贼爸爸上市，就無甚麼吸引力。

十二月十分精彩，美國大股強勢，自己月頭從ZTS 拆出多份資金，換入Amzn、半導體、生科等股票，又於$190左右買入巴巴價內call，追回不少回報。

展望2020年，AAPL 強勢持續，AMZN也該發力，巴巴要向$300進發。

持倉：

Main core: 

ZTS V AAPL AMZN ILMN GOOG

Others: 

TTD EXAS ROKU XLNX CRSP EDIT

RUBY TWOU 

BABA 價內call


Watchlist:
COST ISRG

BABA and Tencent will lead HK market a sustainable rally

BABA: forward PE is just around 22-24, and its recent EPS growth is around 40%.


Tencent: forward PE is just around 30. How about if its price rises to 35PE? It will be around $400.


If Tencent worth 35PE, how about BABA? 35PE? 45PE?


I guess the performance of HK market will be relatively strong in this quarter because of these two giant companies.

Zoetis (ZTS) quarterly result

The result is stronger than expectation. Q3 EPS is $0.94. Personally its fair value is $133-$140.

Apple (AAPL) and Facebook (FB) quarterly results

Apple: Actually Q4 is quite good. The coming year revenue will be strong. iPhone 11, iPhone XR in India, new services like Apple Card, TV, new 5G phones...etc. will be Apple's growth drivers. I guess its performance will be quite strong in the coming three to six months. What I can say? Elephant can still fly!!


FB: Strong result. Both Google and FB are not expensive now, but I like Google more. They will break new high soon.

Mastercard (MA) quarterly result

Good. Same as Visa.


Why not both?

Google (GOOG) quarterly result

Good. Although the cost increases, its potential for substantial growth is still high.


It will keep breaking new high.

Twitter (TWTR) quarterly result

Actually it is not bad. Should keep it rather than sell it now.