What did I tell you. Filinvest Land's (FLI) follow-up share offer yesterday was five times oversubcribed. From the offer price of PhP1.605, it opened at PhP1.80, climbed to PhP1.92 before settling at PhP1.82 for a 13%+ gain, in a single trading day. Compare that to a savings rate of 0.75% (excluding taxes!) PER ANNUM!
I hope to gradually increase my portfolio. My big problem now is valuation. I currently rely on analysts recommendation and calculation of a stock's fair market value, or FMV because I do not have access to company records.
I might do my own financial modelling and come up with my own forecasts and valuation, soon. Watch this space (as if naman).
The mining act effectively made mining stocks (Philex, Manila Mining and Lepanto) attractive again. A lot of issues remain unresolved and a number of exploration plans remain on hold despite increased interest from overseas investors. This is the best time to buy, however. Buy when there's blood on the streets. These things will eventually take off sooner or later becuase the stage has been set. Gold prices remain attractive and metal prices continue to rise on account of the insatiable demand from the red-hot BRIC economies (Brazil, Russia, India and China).
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