There is no change in the narrative. Portfolio continues to stay under pressure due to fear in rate hike, war and supply chain. Is this the bottom? Or will the market continue to drop in the second half? Someone might know but definitely not me. So I am just going to ensure I allocate my asset according to my comfort level and invest in good companies with a timeframe of at least 3 years.
With a larger cash buffer since my selling in April, I am comfortable with my current allocation. With less than 55% invested in the market, I am not losing sleep over my portfolio’s continued poor performance in Q2.
Another quarter of loss and the total loss year to date has wiped out the last year’s gain. Still above water since inception and hopefully that can be at least maintained until there are some improvement in the macro conditions.
Way behind both benchmarks this year. Looks better from inception but still fall behind SPY! SPY is really a tough monster to beat and my US portfolio has done so badly this year that it is now in negative region. I will give myself a few more years to see if I can catch up with SPY, else I might just stick to investing in index beyond the Singapore market.
The only bright spot is that for the first month this year, my US portfolio has beaten SPY! SG portfolio has done that twice in a row now. Hopefully this will continue.
Top and Bottom 5
With the huge decline, it’s not surprising that US counters have occupied 4 out of the 5 positions. I continue to stay confident of SHOP, ZS and iFAST long term prospect. As for INMD and FVRR, they are for the future. I am pleasantly surprised that I can still find 5 counters that are in the green. I think dividend collected have helped to boost their return.
I hope I can start the year end review post with “A year of two halves…” but it does appear that the current bear market is going to drag into next year. Given that I need to preserve my cash for next few years expenses, I do not have much dry powder left. So I am likely to just hold on to my current positions and wait for the market upturn in the future.