Review of 2022

Family

Everyone is generally healthy though wifey lost a big part of her voice after her Covid-19 episode. Luckily she has regained much of her vocals after consulting a TCM.

 

The kids are now four and two in the blink of an eye. Super cute as ever.

Both are loving towards each other yet can be pinching, biting and hitting each other in the next second.

The elder one has inherited our stubbornness. Sometimes she just refused to apologise or look at us in the eye when we asked her to.

I have noticed the hard approach doesn't really work on her so we are going to try the soft approach from now on and see how.

Just like them, we as parents are also learning in this journey. 

Hopefully both kids will grow up to be a healthy, happy and kind person.

Work

Business has improved in 2022 compared to the prior year. Has about two months left before FYE.

Hoping for a promising project to get finalised soon. If that happens it would really be an icing on the cake.

 

On the long run, I am thinking of pivoting the business to a new sector that the government is pushing nowadays.

Sideline

Embarked on a sideline some time around August. It is something that I am doing day in day out and being able to earn side income from doing something I love is shiok. 

Sometimes, success is simply making a career out of your interest. 

So far monthly income from this is around $600 - $900 with potential of reaching higher in 2023.

 

Study

Started my Masters programme in NUS this year. Just completed the first semester with a CPA of 4.75/5.00.

Not too bad. Safe for the time being.

Entered into the course with the aim of gaining new knowledge. So far so good. Enjoying it, less the assignments.

Looking forward to complete it soon and use the knowledge gained to drive my career forward.

 

Investments

SGD 

Portfolio Value: $135,527.22
 

P/L (Realised + unrealised): $5,096.60

 

Dividends Collected: $7,198.42

 

Total Accumulated Dividends: $34,747.95

 

Added: Ascendas Reit and CLCT

 

Sold: MNACT

 

USD / HK

Portfolio Value (SGD equivalent): $16,479.76
 

P/L (Realised + Unrealised): -$23,520.24

 

Added: AAPL, DIDIY, GREE, MSFT, PYPL and 9988

 

The SGD portfolio remains my main portfolio, providing me with a stable base and passive income.

 

Big loss in USD / HK portfolio due to Support.com / GREE saga in which my speculation failed badly. Have blogged about this previously. 

 

However the positive thing from this episode is that I have learned to control my emotions much better in trading.

Sometimes it takes a heavy hit to learn a lesson. 

Nowadays this portfolio is mainly used for options trading where I must say I have learned a lot in the past year.

 

Especially in the area of price point determination and implementation of stop loss.

 

My options trading consist mostly of written calls and puts with short DTE, usually two weeks or so, to make full use of the theta decay to my advantage.

 

2023 Target

To hit $11,300 combined portfolio gain consisting of dividends and trading income.

Syfe Portfolio

 

Negative TWR of 11.7%. Disappointing performance from this robo-advisor.

Summary

 

Total portfolios value at end of 2022: S$152,006.98.

 

This is about $10k less than 2021's figure.

 

Will make 2023 a better year. A promise to myself.

 

Last but not least, here's wishing everyone a blessed and healthy 2023 ahead.

Nov 2021 Updates

Nov 2021

 

Local Portfolio Value after market close (excluding USD and HKD)

S$143,317.76

Purchase

 

None

Sold

None

Dividends

 

Suntec Reit @ $89.28

CLCT @ $326.70

DBS @ $ 198

 

Total: $613.98 

Short-Term Transactions

 

Sold 2 x DIDI Call 211126 at $10 strike with $0.29 premium. Expired.

  

Sold 4 x GREE Put 211119 at $17.5 strike with $0.34 premium. Expired.

 

Sold 1 x GREE Put 211217 at $17.5 strike with $1 premium. 

 

Sold 2 x APPS Put 211210 at $55 strike with $0.90 premium.

 

Sold 1 x APPS Put 211203 at $55 strike with $0.71 premium.

 

Summary

Futu moomoo has released another welcome bundle promotion for November. You can read more about it here.

Would be thankful if you use my referral code to sign up too.

SGD portfolio:

  

Portfolio value dropped by around $7.5k due to the market downturn. DBS had a great fall over the past week.

 

Didn't make any transactions this month though I'm mulling over selling one counter in my portfolio as a rebalancing.

 

Currently making some comparisons between two potential candidates to see which one makes more sense to sell.

SingTel has reported a good set of results earlier this month. I have wrote my thoughts about it here.

Syfe Core Growth portfolio:

 

TWR continue to increase, reaching 7.93% this month. I'm pretty satisfied with the returns so far.

 

Have DCAed into this portfolio yesterday and plan to continue this every month.

USD / HKD portfolio: 

 

Didn't do any trades for this month though I'm monitoring several counters closely including PayPal and 9988. 

 

Also wasn't very active in the options market this month. 6 contracts expired which netted me US$185.05 (~S$253.54).

 

Left 4 other open contracts expiring next month.

  

Moving forward I will continue to use options to supplement my investable income.

Oct 2021 Updates

Oct 2021

 

Local Portfolio Value after market close (excluding USD and HKD)

S$150,806.60

Purchase

 

PayPal @ $244.60

Sold

None

Dividends

 

None 

Short-Term Transactions

 

Closed 1 x FUTU Put 211015 at $80 strike with $3.60 premium early at $14.40.

 

Sold 2 x DIDI Call 211029 at $9.5 strike with $0.30 premium. Expired.

  

Sold 1 x TSM Put 211015 at $107 strike with $1.37 premium. Expired.

 

Closed 2 x FUTU Put 211029 at $50 strike with $1.69 premium early at $0.50.

 

Sold 3 x LMND Put 211029 at $61 strike with $0.30 premium. Expired.

 

Summary

SGD portfolio:

  

Portfolio value increased by around $3.3k. Didn't add anything this month as funds are limited.

Several of my counters have reported excellent results with increased in DPU in their latest updates.

 

I have done a quick review over here.

Syfe Core Growth portfolio:

 

TWR hit a nice 6.38%. The absolute profit is not big since this is still a small experimental portfolio. But the feeling is still good nonetheless.

 

Have DCAed into this portfolio yesterday and plan to continue this every month.

USD / HKD portfolio: 

 

Added a small position of PayPal when the share price dropped below my entry target price. 

 

The Futu PUT that I sold for $3.60 took an unexpected hit when the People's Daily reported that Futu Holdings and UP Fintech face regulatory risks as China's new personal data privacy law takes effect on 1st Nov 2021.

 

The share price of both counters dropped swiftly within a short period. I decided to close the contract early for damage control but still took a hit of about US$1,085.

Such is the risk of China stocks nowadays.

This single contract turned my otherwise profitable month to a loss-making one of US$577.17 (~S$778).

Overall I'm still in the black for my options trading since I started in March this year.

Current P&L is around S$2,700 off a base of S$20,000. I think it's not too bad for a 7 months endeavour.

Hopefully this amount can continue to grow exponentially. 

  

Moving forward I will continue to use options to supplement my investable income.

September 2021 Updates - How I Broke My Own Rules in Investing

Sept 2021

 

Local Portfolio Value after market close (excluding USD and HKD)

S$147,523.50

Purchase

 

84 shares of Support.com @ $24

36,000 shares of Sembcorp Marine @ $0.08 (Rights subscription under CPFIS)

Sold

60 shares of AMC @ $40.50

Dividends

 

1) CICT @ $279.72

 

2) CLCT @ $384.93

 

3) Ascendas Reit @ $192.85

 

4) MLT @ $216.10

 

5) ESR Reit @ $34.40

 

Total: $1,108

Short-Term Transactions

Closed 1 x SPRT Put 210917 at $26 strike with $11 premium early at $6.69.

 

Sold 2 x DIDI Call 210924 at $10 strike with $0.35 premium. Expired.

 

Closed 3 x SPRT Put 210917 at $19 strike with $3.70 premium at $3.40. 

  
Sold 1 x SPRT Call 210917 at $38 strike with $2.49 premium. Expired.

 

Sold 1 x SPRT Put 210917 at $14 strike with $1.15 premium. Assigned.

 

Sold 5 x SPRT Put 210917 at $13 strike with $0.84 premium. Assigned.

 

Sold 1 x FUTU Put 211015 at $80 strike with $3.60 premium.

 

Sold 2 x DIDI Call 211029 at $9.5 strike with $0.3 premium.

 

Sold 1 x TSM Put 211015 at $107 strike with $1.37 premium. 

 

Summary

For my SGD portfolio, not much change in terms of value. Collected S$1,108.00 of dividends this month. 

Decided to subscribe for Sembcorp Marine rights issue.

 

With this, I'm holding 60,000 shares at S$0.4052 average price.

 

Wifey's is 45,000 shares at the same average price.

 

Both of us are holding this under the CPFIS.

For my Syfe Core Growth portfolio, TWR has dropped to 3.77% which is lower than last month's figure, in line with the US and Chinese markets volatility.

 

Have DCAed into this portfolio yesterday and plan to continue this every month.

For my USD / HKD portfolio, I added 84 shares of SPRT at $24 and bring my holdings to 168 shares.

I also took assignment of 6 Put contracts for SPRT (1 x $14 and 5 x $13 strikes).

After conversion to Greenidge Generation (GREE) at a ratio of 1 SPRT : 0.115 GREE, my total holdings stand at 85 shares at average price of $167.03.

This whole exercise is a very bad mistake on my part. Many schoolboy errors were committed. I broke several of my own investment rules along the way despite so many years of investing. To be honest, I am very disappointed with myself.

How I Broke My Own Investment Rules

Yes, I have to make this bold and underlined to remind myself of this round of mistakes.

 

Mistake No. 1: I invested into the counter without doing enough due diligence. I knew it was going into a merger and the price is driven up by the euphoria but that's about it. I did my fair value calculations for the share price after I went in, not before. Schoolboy error.

 

Mistake No. 2: I got FOMO. Yes - after so many years, I still fell for it. Stupid. My emotion in investing definitely needs working on.

Mistake No. 3: I set a stop loss. But did not follow it. Really, stupidity has no cure.

Mistake No. 4: I traded options into the merger despite unknowns regarding the post-merger treatment of the option contracts.

I can go on forever... But the first 3 mistakes are pitfalls which I am well aware of yet I still fell in.. And the funny thing is that I always remind others not to do these..

Anyway because of this episode, my USD / HKD portfolio went from a profit of about 20% to now a loss of about 35%.

Hopefully I can fight back and level the field soon.

As mentioned above, I did a fair value calculation for GREE share price after I bought in and the value I got was $77 per share which gave a conservative market cap of around $3 B for GREE (RIOT's was $3.38 B when I did this calculation back then).

In other words, based on this $77 GREE valuation, each SPRT share must be bought at $9 or below in order to breakeven.

Hence if I have done my calculations first, I would not have bought into SPRT.

Of course as this past month has shown, the share price of Bitcoin miners has spiraled down as Bitcoin went into correction mode.

Taking that into consideration, if I take a conservative 80% of RIOT's current market cap at this point of writing as a reference, the fair value of GREE share should be around $49.

(0.8 * 2.39 B) / 38.67 M = $49 (conservatively speaking)

 

Currently Bitcoin is trading at around $43,000.

So assuming if Bitcoin goes back to around $50,000 which is the price when I first did my calculations, GREE should be trading at around $77 theoretically.

 

This also implies an upside of 308% from current share price.

 

However the issue is when will the market rate GREE at its fair value. Sometimes fortune favours the patient.

 

The current share price doldrum is partly due to the falling Bitcoin price and SPRT investors offloading to cut loss.

 

Once the loss cutting is done the share price should start to recover and consolidate in range.

 

My game plan or exit plan whichever is nicer to call, is to hold and try to position my average price to the fair value through DCA and options trading when the new option ticker is up for GREE.

 

The odds are against me but hopefully things will improve soon. Afterall GREE is a fundamentally good company at its base.

Enough about my mistakes for now...

This month I added S$7,500 into this portfolio and also received US$100.32 for the fractional GREE shares after conversion.

 

I also made a profit of US$1,473.93 (~S$2,006.79) from options.

 

Moving forward I will continue to use options to supplement my investable income and narrow the loss from GREE.

 

Last but not least, if you want to open a moomoo account you can do so using my referral link here. 

As always, good luck in investing!