First, I like to thank all the subscribers who have signed up for regular updates from this blog. This week, the number of subscribers surpassed 200! Thank you all for your support and I hope you will continue to find this blog relevant to your investment and F.I.R.E journey.
It is another incredible week again!
My portfolio was up 10% over the last 5 days helped by second tiers “blue chips” and the relentless march forward by the SREITs. The 3 major US indices also broke record levels this week.
BUT In contrast, our local stock market barometer = STI was dragged down by 2% as the share price of the three local banks that basically “ruled” the STI closed lower. For example, DBS came down the most from $26.6 to $25.6.
If you have been following my blog, you would have guessed what I had done this week.
SELL more lor ….
In fact, I am starting to sell what I earlier felt were “untouchables” because their gains were simply too phenomenon and incredible in my view. I couldn’t resist.
I sold small positions of Capitaland Mall Trust at $2.70 (OMG!) and Ascendas Reit at $3.17 (OMG again!). These are record price levels that I have never seen before.
I also sold OUE Hospitality Trust at $0.735, making a small gain in return. The reasons for selling are (1) To reduce my exposure on OUE Commercial when it eventually takes over OUE Hospitality (as explained in my earlier blog) and (2) I am contended with the small gains.
I also sold some SIA Engineering at $2.92 after having bought them at a much lower price earlier this year. The increase was just too fast and in my opinion, unjustified unless SIA is willing to offer good money to take them private. Anyway, it is quick profit to grab for the moment and if SIA really made that move, I will profit from the remaining SIA Engineering shares on my hands. If not, I will buy them back later if they fall back to the old price level.
I am also tempted by SPH Reit which reached record level of $1.10 (OMG!) and not forgetting Ascendas Hospitality (hee hee hee). Haven’t move yet … but really really tempting …
So, sell, sell, sell was what I did.
Where to put the cash?
I realised that I am accumulating quite a bit of cash from all the sales over the last 3-4 weeks.
Although I am planning to use the cash received as my warchest, it is not earning much money now by staying in the saving account of my bank.
I surfed the internet this morning to find out which bank offers the best rates and the simplest package. There are so many different and complicated packages out in the market now. I am totally confused.
My simple brain cannot tahan anything too complicated so it must be simple. In the end, I found that the DBS Multiplier is the best. It is simple to “use” and the rate is competitive. The cap is also quite generous, its up to $100,000 max. More than enough for me :-).
So, I will be transferring my cash fund there soon.
Let’s see how things go next week.
SPH Reit and SPH will announce results and dividend next week. I don’t think there would be any surprise from SPH Reit. But for SPH, I am keenly interested to see if there is any upside surprise from all the new and interesting business transactions they have been doing and entering into in the last one year. I like to know if those investments are paying off for them (and me too)…
Have a great weekend folks.
Hope the last one week has been profitable for you too.