Tenth Berserker Rage Of 2023

 Wah lao eh.

I thought I had a really good run with no berserker rages since September.

Dammit man really upset with myself but I felt compelled to document this so I remind myself what a gambler I am.

Maybe lately work has been stressful.

I know it’s no excuse but still.

Last night just decided to find my IG Markets account and played Knock In/Knock Out options on Nasdaq100 until I lost whatever I funded.

Really like a casino.

Ended up losing 4K.

Not as much as the last few rages and thankfully my last couple months have been super profitable but this quick loss still hurts.

But still.

Always wake up beating myself over why I’m so reckless.

Let this rage be the last for 2023 and hopefully none in 2024!

Cash Hoard

UOBOne. Max it out. 100K maximum in there nets you 5% pa when conditions are met.

OCBC360. Max it out. 100K maximum in there nets you 3.8% pa when conditions are met.

SSB. Max it out. 200K cap maximum. This period you can get >3% interest for 10 years guaranteed. Good to consider a ladder.

TBills. No cap but locked in for 6 months. This period you can get nearly 4% for 6 months locked in is really good. Only risk is 6 months later, interest rates might have dropped who knows. Good to consider a ladder.

FD in obscure bank. Fixed Deposits in those less popular consumer banks like RHB, ICBC, SBI or Maybank can give you around 3.5% now for a full year. 

Just doing all this gives you free money, near zero risk. Again, seriously, NEAR ZERO RISK! And a lot more than what all these have netted you just 12 months ago.

What’s not to like?

Passive income at its best.

Shiok.

A Really Good Period

 This is the way.

Just chill and cash in on high interest rates.

That’s it.

Keep it simple.

Don’t gamble, don’t take unnecessary risks, don’t make foolish trades.

And watch the AUM grow.

Also Gold headed down as expected. YAY!

Crypto especially BTC is heading up. YAY!

No berserker rages since. YAY!

Huat ah!

Another Mention In The Papers

 Was quoted again in the papers.

This time it was the Sunday Times.

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.

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!

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.

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!

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.