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Still making money in Croesus Retail Trust. Peace.

Monday, May 29, 2017

Hi AK,

I wrote to you a few months ago and told you a prominent blogger sold all his investment in Croesus. I asked you if you would be selling too. You gave me one of your typical AK answers. Now, a few months later, I am kicking myself because I sold half of my investment since I was not sure if I should stay fully invested. It was my biggest investment. If I had your conviction, I would have avoided this loss...

Hi R,

I have the feeling that you might not have understood the investment enough to give you the conviction to hold on to a substantial position in Croesus Retail Trust.

Your position could have been too big and peace of mind eluded you.

Money not made is not the same as money lost. By holding on to half of your original investment, you are still making money. Lesser by half but you are still making money.

Peace of mind is priceless. By reducing your investment by 50% when you did, know it or not, that was what you were after. 

Now, please don't lose something precious like this by saying you should not have sold.

Best wishes,
Related post:
History with Croesus Retail Trust.


SkinnyOldMan said...

An excellent reply, AK.
You pointed out the rational aspects, and you were also sensitive enough to take care of R's emotions too.
Rational aspects : If we know why we buy (ie after doing enough scrutiny of the financials), then that gives the conviction, or the confidence to hold on.
Rational aspect : Don't make your position in one stock too big such that it affects your peace of mind - diversification is safer, relatively.
Emotional aspects : you are a sensitive bugger la, oops sorry I mean blogger. You took care to console him by pointing otu the fact that he is "still making money. Lesser by half but ... still making money".

Your best line in the reply is .... Confucius says "Now, please don't lose something precious like this by saying you should not have sold."

All these are financial literacy lessons - which we must all load up on.
And something for me to think about - because my position in one counter is also getting too big and I have been in R's situation - causing me to log in often to check the stock price, and wondering when to sell, when to take profit. Signs of losing peace of mind.

Cory said...

Well answered. Peach of Mind is very important. No point to get all the money in the world and you worried for the life of it.

AK71 said...


Wah! Kamsiah you for the compliments. Now, I am feeling a bit heady. Oh, it is because my head is a bit swollen. ;p

I am lazy and probably will never be a very good investor. Just sharing a lazy investor's philosophy here. :)

AK71 said...

Hi Cory,

In my retirement, I value peace even more.

Now, back to killing monsters and demons. ;p

Girish Seshagiri said...


you are turning out to be Zen Master. :-)


AK71 said...

Hi Girish,

Om Amitabah... Om... ;)

AK71 said...

Blackstone makes S$1.17 offer per unit for Croesus Retail Trust.

AK71 said...

Capricon said...

Would you rejecting through proxy and rallying your readers to do the same ?
At least the manager get a deal above the NAV and highest since IPO but I do vaguely remember the cap rates of Croesus mall are much higher as compare to other Japan retail REITs, probably that explains.


AK71 said...

Hi Capricon,

Nah. If you have noticed, I am not an activist investor. I am a lazy investor. ;)

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