Merry Xmas to all readers!
2020 was a massive year for all of us, not only in investing, but also in our professional and personal lives.
If you did well, give yourself a pat on the back.
If you did poorly, chin up and prepare for a better 2021.
Because no matter how you did, the year is over now.
So take a good break, and go again in 2021.
No matter what happens in financial markets in 2021, I will be sharing my thoughts on Financial Horse every weekend, so stay tuned!
I don’t want to bore you with a long Christmas note, so I figure I’ll round up the top investment writings on Financial Horse in 2020, and I’ll do an update commentary.
Both investment courses are on big discounts until 31 Dec, so do check them out if you’re keen to learn more about investing.
Enjoy, and Happy Holidays!
My favourite investment writing of 2020
Gold, UOB, MCT, MIT, QQQ, JPM, XOM and Vanguard China. The portfolio definitely did well, but I probably should have weighted in more tech exposure.
6 months on, still not a fan of SIA. Industry dynamics for airlines are just too poor. It’s like OPEC, without the price fixing.
“If the Feds buy, stocks go up.
If they slow their buying, stocks stay range bound.
If they tighten, stocks sell off, but let’s be realistic, Feds are never tightening again for a few years.”
This was true when I wrote it in May, and it will be true going forward. Feds are boxed in, and they will have no choice but to provide easy liquidity for the foreseeable future.
DBS, SBS Transit, MCT, MIT, XOM. This article was in May so all the counters have done really well since. SBS and XOM are probably the laggards.
Saxo slashing their rates and FX spreads makes them a very strong option if you’re in the market for a full services broker. There’s an affiliate bonus if you’re a new customer so don’t forget to use the FH link to sign up!
Netlink, CapitaLand, DBS, UOB, OCBC. The last 4 have gone on a monster rally since, which leaves Netlink as the most interesting dividend stock left on this list.
Even after the digital banking tie-up with Grab, I’m still not a fan. The core business is in decline, and the digital bank partnership will have execution issues. Even if it succeeds, it will be years before it contributes meaningfully to the bottom line.
MCT, CICT, Starhill, MIT/Ascendas, CRCT, MNACT, MLT. The best REITs are timeless, and even today I think this portfolio is a very strong one.
MNACT, CRCT, Starhill. They’ve all rallied about 20%+ since this article, with CRCT having the strongest performance. Closer to fair value now, but the low interest rates are going to be a powerful tailwind for real estate in the coming years.
I’ve been wrong on this call so far. But 2021 has not even started, and it promises to be a monster of a year for the Singapore economy. Lots of time for things to go wrong.