After a hectic July monitoring the markets closely, I sort of went into refuge for August.
I barely kept myself updated, checking on my shortlist and portfolio like once a week? A part of it was self-imposed but as national exams draw closer (PSLE, O Levels & A Levels), I am spending much more time on work. The 25 hour work week has vanished and I am clocking closer to 40 hours again.
But guess what?
I feel that my life is much more satisfying and peaceful when I am less attached to the market.
In the past two years, I have been a little schizo, veering from “believing that I could be a great stock picker” to “I should just stick to indexes” and then back to the former again.
In my defence, this behaviour can partly be explained by some of the drastic changes in my life. Quitting my first job, taking a six month sabbatical, becoming a teacher, and then now as a freelancer.
However, as my freelancing work gets more and more stable and predictable, I am whittling down my options and is much clearer on a more sustainable investment strategy going forward.
Let’s see how things pan out for the rest of the year and meanwhile, the market did not miss my absence as things are more or less stagnant.
1. Core Portfolio
No additions on this front.
The increasingly frothy US market is making it psychologically harder for me to add on to my existing position in Berkshire B. Anchoring bias sucks, but could it save me from buying at a high?
The value of this portfolio declined by about $700, which in the grand scheme of things, is nothing much, a movement less than 1%.
2. Local Stock Portfolio
No changes to the portfolio. However, I did subscribe to the right issue from MCT. Let’s see if I can get a good allocation from the excess rights I applied.
Month-to-month, the portfolio declined in value by about $2,000 as the Singapore equity market continues to be lacklustre.
3. Emergency Funds
I bought a little bit more of gold bullion from UOB in late July and these emergency funds have officially exceeded $100K.