Was quoted again in the papers.
This time it was the Sunday Times.
Sunday 29 October 2023
Saxo Unfiltered @ Marquee
We had our most extravagant macro event yet and how epic it was!
Booked out the whole Marquee club (only the second financial institution to do so), turned the Ferris wheel on and wow what a night it was!
Here’re some awesome pictures.
Tuesday 24 October 2023
Crypto Pump Is On Again
With the rumours of Blackrock listing a BTC ETF, Bitcoin is pumping once more!
My crypto portfolio has suddenly come alive!
Was so happy to see!
HUAT AH!
Saturday 14 October 2023
Shorting Gold
Initiated a short position on XAUUSD.
Some may call me crazy but hear me out.
Current XAUUSD is spot gold.
So you are trading trading gold against the USD.
This means there is carry trade financing involved.
So when you go short on XAUUSD, you earn the USD carry.
Which, in Saxo, pays close to the Fed rate of 5%.
Fundamentally, gold will rise when uncertainty in the world rises. And that’s what’s happening right now with wars and the markets showing signs of fear. But a lot of this has been priced in. The war in Ukraine has gone on for more than a year and a half now and gold still went down to test 1,800.
Last night’s jump was spurred more by recent events and Fed speakers saying that interest rates will not hike in Nov. This is not a cut call, and I expect interest rates in the US to stay stubbornly high next year.
Also people are also moving to cash. That’s why the USD continues to stay so strong. Why take more risk when you could just earn 5% with low risk?
That’s why it is my personal opinion that gold will go down to 1,600 - 1,700 over the course of next year.
Going Good
October’s been a great month on the investment front.
The market isn’t going so well and my shorts are printing brrrrrrrrr.
Sometimes I think the best thing is to just set myself up, set my SL and TP, go into the trade, then set and forget, once you know your upside and downside, STOP obsessing about your position! And maybe that’s the best advice I need to stick to right now.
Many a times our trade hunches, when properly thought out, and correct. It’s just the anxiety of seeing losses or early profits that cause us to cut earlier than planned.
The migration from stocks to more cash also continues, so that is great. Just gonna max out OCBC360, UOBOne accounts, whack some more T Bills and SSBs. At least this part of the portfolio maintains the saneness of ultra low risk with very good returns.
PSNY as a sidekick is slowly coming back up…but very slow. As long as the business continues to prosper, then I believe the technicals will eventually catch up with the fundamentals.
IREIT is still down a lot, but as long as the guru says hold, buy or sell, I will just follow on that.
Initiated a short position on Gold. It’s not looking so good at the moment but I think it will play out over time. Hopefully I have the patience to hold it for a long time.
Sunday 8 October 2023
Moving To Cash
As resilient as the stock markets are right now, I’m beginning to return to cash now.
Why take any unnecessary risk and added costs when you can get 5% interest on a high yielding savings account? 4% on T Bills? And 3+% on SSB?
There’s a war brewing in the Middle East over the weekend too.
Looks like oil will jump tomorrow.
I think stock markets will start to trend down soon and I’ve gotten my shorts ready.
Let’s gooooooo!
Huat ah!
Sunday 1 October 2023
Quoted In 联合早报
Nice to have been quoted in today’s 联合早报。
Pity they didn’t put my handsome face in the article haha.
Wake Me Up When September Ends
Yay I get to wake up now since it’s the first day of October.
NGL yo, September has been rather topsy turvy and volatile all around, but IT HAS BEEN A GREAT MONTH all things considered.
Health, investments, overall networth, family, work. All good but I don’t want to go into details in case I jinx anything.
There was some downside when PSNY hit $2.18! OMG that was bad.
Thinking of starting my monthly dividend posts again next year.
Hopefully we can keep up this momentum and end 2023 on a super high note!
Huat ah!
Time For T?
Wow!
T-bills have finally crossed the 4% threshold, hitting 4.07% last month,
It is time to allocate some cash into T-bills indeed.
Great to earn higher interest from all these safer instruments.
The power of compounding really adds up!
Huat ah!
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