S&P 500 rose 5.2% since the beginning of April and I took profit off the table more than I invested my capital.
I sold US counters like Square, Peloton, VMWare and Pfizer whose share prices had increased quite spectacularly in the last 2 weeks. I still believe in the growth story of these companies but thought of just reducing my exposure given the opportunity.
In the midst of that, I also invested and increased my holding of Plug Power, Solaredge, Virgin Galactic and initiate a new company ViacomCBS into my portfolio. Yes, they have all been linked to some troubles lately but I believe they are still ok in the longer term. They are my flag ship companies for the new industries like fuel cells, solar energy and space. I tend to accumulate them whenever their shares prices weaken. Viacom was a more speculative “bet” and I hope it would pay off.
I also followed the “Boss” to buy a bit of Skillz (those folks on Telegram would know what I am saying … LOL). This is the other new company that I added to my portfolio in the last fortnight.
With my sales of US shares, my overseas holding has dropped to 25.7%. I would have to think about how to increase this to 28% by end of the year – either by buying more US and HK stocks or selling Singapore shares. Will monitor and see.
Other than the US, I made very little change to my Singapore and Hong Kong investments – hardly any buy and sell. Anyway, STI and Hang Seng have hardly moved an inch in the last 2 weeks too.
Nonetheless, there are still a few notables events that happened that I like to share my thoughts on.
First, I am very glad to see Frasers Logistics & Commercial Trust incorporated into the STI index. I have held Frasers Commercial and Frasers Logistics Trusts long before they combined. I feel it is a good company and it has been providing reliable dividends for me.
Second, the Alibaba saga showed us once again that investors hate uncertainty the most. In fact, investors brushed off the US$2.8 Bln fines that Alibaba has to pay and chased up the share prices of Alibaba the next day. I think investors are just glad that there is finally a closure to this.
The earning reporting in Q2 2021 is going to start from this coming Monday onwards. Keppel group of companies will be taking the lead.
I think the results for Singapore companies for this quarter should be generally positive and reflect the economic recovery from COVID. Hence, I am looking forward to more dividends being declared. Q2 of the year is typically the quarter that I received the most dividends.
Do have a great weekend and a wonderful investment week ahead.