Monday, September 9, 2013

Dryships - My first 100% return on investment

I have blogged that I divested partially my shares in dryships to reduce risk on August 7 2013. Got back all my capital plus some profit. Just one month later, the share price has gone up by another 70%. Currently, the price is officially double of the price which I initially bought at 1.52. Technically speaking, the return is about 50% since I divested some one month ago. No doubt I'm happy about it as its still quite a substantial return.

I initially bought it last year November 2012. Investing period is less than 1 year. Why has it gone up so much? I can only rationalize that the shipping sector is recovering which I had bet on since last year. I had thoughts that the shipping sector might have reached a bottom as it consolidates at a support for many many months.

It may be a small achievement thus far as I blog about this as part of my journey in investing. I had lost a lot in my investment in NOL 3 years ago when the crisis hit. It was also a shipping stock. I had wanted to give up investing once and for all but I choose not to. I choose to learn everything all over again. It may have been because of my losses in NOL that I really learn about the shipping sector. I would say I learnt it the hard way.

The important thing is never give up when you suffer a setback in your investments. Patience and a humble attitude to learn will bring you back up. I hope my story will inspire those of you who lost money in the stock market to not give up. Persevere on and you'll see results one day.

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6 comments:

  1. CreateWealth8888September 10, 2013 at 7:55 AM

    Congratulations!

    ReplyDelete
  2. SGYISeptember 10, 2013 at 8:53 AM

    Hi CreateWealth8888,

    Thanks! I would think I still have much more to learn. Many many more investing years to journey through.

    ReplyDelete
  3. SolaceSeptember 29, 2013 at 9:33 PM

    Hi,

    Do you mind if you share which trading platform did you use to invest in US market?

    What are the custodian fees like and what percentage of dividends did the broker take from you? Thanks

    ReplyDelete
    Replies
    1. SGYISeptember 29, 2013 at 10:06 PM

      Hi Solace,

      I use Citibank brokerage to invest in US market. I'm not sure exactly how much the fees are. It's not a lot for me currently. There should be no charges on the dividend received if I'm not wrong. The exact detail of fees can be found on citibank brokerage website.

      Delete
  4. SolaceSeptember 29, 2013 at 10:29 PM

    Hi Sg Young Investment,

    Thanks for replying. The info is helpful :)

    I am currently looking for suitable brokerage to invest in US markets. compare and contrast between different platforms. Will share with you if i manage to find a suitable platform better than Citibank. :)

    ReplyDelete
    Replies
    1. SGYISeptember 30, 2013 at 7:51 AM

      Hi Solace,

      There's another brokerage called thinkorswim. They charge lower commissions there. If you're planning to do stocks trading or futures and options trading, you can consider it. You can invest in stocks through there also. However, the transfer of funds is a little troublesome as need to do a wire transfer. If you're investing large amounts the it'll be more worth it. You can check it out at thinkorswim.com.sg

      Delete

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