十倍股煉金術~Ten Bagger Alchemy

新的一年, 送一件大禮給忠實觀眾:就是本文。

本人有資格寫本文，原因是小弟事實上由IPO開始長揸領展(領匯)至今，接近13年多。 我相信小弟應是博客中較少數由IPO長揸到現在(大部份都是中途加入)。

以下是領展(領匯)由2006年起每年基金分派如下:-

年度	派息HKD$
2006末期息	$0.2181
2007	$0.6743
2008	$0.744
2009	$0.8399
2010	$0.9737
2011	$1.1045
2012	$1.2952
2013	$1.4646
2014	$1.6581
2015	$1.8284
2016	$2.0618
2017	$2.2841
2018	$2.4978
2019中期息	$1.3062
累積派息	$18.9507

筆者2005年11月24日用 HKD$9,878.98認購買入了兩手領匯,當中部份時間曾以股代息, 現持股量市值:HKD$102,794.20 (以15/2/2019:HKD$86.60每股收市價計算);本金已增加10.40倍,連本帶利增長12.68倍;年均回報率95.7%(13.25年)。

小弟2005年11月當時買領匯原因有:-

1.領匯商場組合壟斷了公屋居民購買力

2.由官營商場過渡到民營商場會提升租值和經濟效益

基於作為領匯小股東投資者可享以上效益，所以買了2手IPO長揸。

結論:

1.買入股票質素要優良~上市資產要優良為投資者產生持續正現金流;

2.買入優質股票後應該長揸, 要抵受得住股價上升獲利誘惑，不會沽出。

我個人認為大部份領匯IPO小股民不能從此股賺十倍原因是不肯長揸此股。

After the Chinese New Year holiday, I present a gift to my loyal blog readers~ this essay.

I feel I am qualified to write this essay because I am the original IPO shareholder, unlike majority bloggers, they purchased it after listing but seldom of them purchase it at IPO and hold up to the present.

The annual dividend of The LINK REITs from 2006 final to 2019 interim summarized in the above table.

I purchased it on 24 Nov,2005 at HKD$9,878.98 with 1,000 shares, sometimes, I received share scripts, now grow to HKD$102,794.2 (with 15/2/2919 market close price HKD$86.60). The principal grows 10.40 times, the amount grows 12.68 times, the average annual return is 95.7% (13.25 years).

I purchased the LINK REITs IPO on Nov,2005 based on the following reasons:-

The LINK REITs monopolise the purchase power of residents living in the public estates in Hong Kong.

The rental value and efficiency can be significant improved when it transforms from public owned to private owned shopping malls.

Since being the small shareholder of it can enjoy the above benefits, i decided to buy 1,000 IPO shares at that time.

Conclusions:-

1. Investors need to buy high quality shares that with high quality assets brings continuous positive cash inflows to them.

2. After buying the high quality shares, investors need to "buy and hold", resist the temptation of getting profit when the share price goes up.

I personally believe majority of the LINK IPO shareholders cannot keep this as their ten bagger stock because they are unwilling to buy and hold it.