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!

Moomoo October Promotion - AAPL Shares + Free iPhone 13!

 

 

 

Guys, moomoo has up their game again. This time they are giving away the latest iPhone 13!

How cool is that. As always, you get the latest promotions first hand here in this blog.

Now before we talk about the iPhone 13, let's go through some of the other perks of signing up with moomoo first.

Moomoo October Welcome Rewards

Period: 2nd October 2021, 20:00 hours - 1st November 2021, 09:59 hours

 

My referral link is here for your easy reference.

 

1: Register for a moomoo ID

Reward: 180 days unlimited commission-free trading for the US, HK and SG stock market (to be activated within 90 days)

2: Successfully open a FUTU SG securities account (moomoo is the trading App by FUTU)

Reward: Free access to level 2 US stock market data and level 1 SG & China A-shares market data

3: First deposit

Reward for depositing [S$2,700 - S$199,999]: S$200 stock cash coupon bundle
Reward for depositing [>=S$200,000]: S$2,000 stock cash coupon bundle

 

* A stock cash coupon is just like cash which you can use to purchase stocks up to the cash coupon amount. I have personally verified that so no worries.

4: First stock transfer-in (US and HK stock only)

Reward for transfer value [S$50,000 - S$99,999]: 1 AAPL share (Apple share) worth ~S$195

Reward for transfer value [S$100,000 - S$199,999]: 2 AAPL shares worth ~S$390

Reward for transfer value [>=S$200,000]: 2 AAPL shares worth ~S$390 + iPhone 13 (256 GB)

Granted that the criteria for getting the free iPhone 13 is abit high, but if you have been trading for awhile now, transferring your portfolio of S$200k over to moomoo will get you 2 free Apple shares and a free iPhone 13.

That can be seriously considered.

Even if your portfolio doesn't have that required amount, simply getting the free 1 or 2 Apple share is also worth it in my opinion. It is free money afterall.

 

If you find this sharing useful, please feel free to use my referral link here to sign up for your account and claim the freebies. 

Just a gentle reminder: this promotion runs from 2nd October 2021 to 1st November 2021 as mentioned above.

Last but not least, remember to drop me a message or email when you got your iPhone 13 so I can feel happy for you too ya! 

August 2021 Updates

Aug 2021

 

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

S$147,427.16

Purchase

 

3,000 shares of CLCT @ $1.35

500 shares of ESR Reit @ $0.40 (PO + Excess)

84 shares of Support.com @ $50.94 average price

Sold

None

Dividends

 

1) Suntec Reit @ $84.36

 

2) SingTel @ $192

 

3) DBS @ $198

 

4) OCBC @ $265.50

 

Total: $739.86

Short-Term Transactions

Sold 3 x FUTU Put 210820 at $85 strike with $1.90 premium. Closed early at $0.25.

Sold 2 x SPRT Put 210820 at $5 strike with $0.55 premium. Closed early at $0.05.

Sold 1 x NVAX Put 210827 at $200 strike with $0.83 premium. Closed early at $0.05.  
Sold 1 x AMC Put 210827 at $35 strike with $0.41 premium. Closed early at $0.04.

Sold 1 x SPRT Put 210917 at $26 strike with $11 premium. 

 

Summary

02 Aug 2021 STI Open: 3,161.22

31 Aug 2021 STI Close: 3,055.05

 

STI closed lower than the opening of August with a drop of more than 100 points.

 

In my update last month, I've mentioned that the STI is range bound between a narrow band of 3,100 - 3,200 and it would be good if it can break out from the resistance level of 3,250. 

 

Unfortunately it broke below the lower band. I will monitor the market more closely in the coming month.

 

 

For my SGD portfolio, I added 3,000 units of CLCT at $1.35 and 500 units of ESR Reit at $0.40. 

For the former, I was waiting for the price to drop to $1.33 for a long time but it remained steadfast above that level (think I blogged about it in last month's update). So ultimately I decided to pull the trigger and bought in at $1.35.

 

As it turned out, the share price started to drop on the next day. Life's like that.

At least I bought below the issue price of the recent DRP. Since I am invested for the long term, I am not worried on this solid counter.

With this addition, my current holding for CLCT stands at 12,100 units.

For the 500 units of ESR Reit, it is from the latest round of preferential offering + subscription of some excess to round up to lot size. 

 

With this my current holding stands at 10,500 units.

For my Syfe Core Growth portfolio, current TWR is 6.59%. Not too bad. Still a small experimental portfolio.

 

Have DCAed into this portfolio couple of days ago and plan to continue this strategy every month end.

For my USD portfolio, I added 84 shares of Support.com at an average price of $50.94. Silly mistake due to FOMO.

 

Nevertheless I believe many people have benefited from the run up of this stock. I saw some comments that this is a life changing event for them and I really felt happy for these people.

 

It's not everyday that one can experience that so a big congrats to them!

 

This month's options trading is pretty good for me.

 

After making a loss of S$481.99 last month, I made a profit of US$686.55 (~S$922.24) excluding the SPRT Put which I sold at US$11 premium expiring 17th Sept.

 

I was targeting to hit S$1K this month but fell short of it due to early closure of the options for better sleep at night.

 

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

For my Cryptos, I have 2.250 BAT from the Brave Rewards worth USD 1.82 currently 😊.

moomoo August Promotion - Latest Goodies (Pfizer & Haidilao)

Hey guys, for the month of August, moomoo by Futu SG has launched another refreshing campaign aptly named the "Multi-market Welcome Pack" campaign which runs from 02 Aug 2021, 20:00 hours to 31 Aug 2021, 19:59 hours.

 

 

For your easy sign up, just click on my referral link and proceed from there to start your journey with moomoo.

 

Apart from the usual free access to Level 2 market data for the US stock market and Level 1 market data for the SG stock market, here are the new goodies in the form of treasure boxes for this campaign.

 

Treasure Box No. 1

1) Follow 1 friend: Follow any user in the community and get 50 points.

 

2) Post 1 comment: Post 1 comment in the community and get 50 points.

 

3) Open a FUTU SG securities account: Successfully open a FUTU SG securities account and get 180 days unlimited commission-free trades* for the US stock market, HK stock market and SG stock market effective from the day of account opening upon successful account approval. (Only for New Customers)

 

* Commission-free trades do not apply to options, futures and China A shares.

 

4) Deposit SGD 2,700 into account: Successfully deposit SGD 2,700 or USD 2,000 or HKD 16,000 into your securities account and get 1 free Pfizer share.

 

Treasure Box No. 2

1) Learn to trade: Watch the video in the specified article and get 50 points.

 

2) Complete 3 trades for US Market: Make 3 completed trades for the US market and get 1 free Pfizer share.

 

3) Complete 3 trades for HK Market: Make 3 completed trades for the HK market and get 5 free Haidilao shares.

 

At this point of writing, 1 Pfizer share is worth USD 45.68 and 1 Haidilao share is worth HKD 27.55.

 

So just by completing the above few simple steps, you can receive 1 Pfizer share + 5 Haidilao shares worth about SGD 85.50.

 

It's not difficult to make 3 trades. Buying and selling a stock would count as 2 trades already.

 

Not to mention you will be getting 150 points as well. Notwithstanding these 150 points, it is super easy to earn points in moomoo.

Trust me. I've redeemed this cute Money Box from the list of moomoo's peripheral products before using 9,888 points (now it requires 12,000 points). At the moment I still have another 2,510 points and I am not even trading frequently! 

 

To learn more about the terms and conditions of this offer or to get your answers to some general questions, you can go to this link here.

 

So far my experience with moomoo has been pleasant and nothing short of being impressed by how engaging the platform has become.

A case in point where moomoo has continued to outdo itself: they are currently running a quiz where you can earn cash from it. Yes real cash.

I have briefly touched on this in my earlier July portfolio update. This is just one of the ways which moomoo has been engaging the users community.

 

If you ask me, I would say wait no more and join the platform now. Importantly, make use of this current promotion to earn yourself some free shares too.

 

I would appreciate too if you can sign up through my referral link.

 

Thanks in advance and enjoy the experience.

Review of Hill Street Coffee Shop Nasi Lemak (Looks Good But...)

Recently I read about a review on a certain Nasi Lemak where the reviewer raved about it so much so that being a glutton that I am, I know I have to try it one day.

So today I dropped by to the location which is at 978 Toa Payoh North, Grains & Hops coffee shop.

It took me quite a while to find the stall within the coffee shop because it does not even has a stall front. Only a wall with cabinets and a small wall opening.

 

This Nasi Lemak by Hill Street Coffee Shop is grouped under the Cloud Kitchen together with other stalls. And the ordering is quite a unique concept which I like.

Ordering of the dishes is done via a cash-less self-service kiosk similar to the fast food restaurant nowadays. After that a receipt is generated and your food will be placed inside a numbered cabinet for your collection.

This is a great way in minimising human contact which is especially important in the current climate.

Photo from Google

Now on to the food...

 

Photo by me

 

Upon opening the box, I can smell a nice aroma coming from within.

Photo by me 

 

The rice is nicely cooked.

The chilli while ok, lacks the punch.

The keropok has turned soft. Failed.

The chicken I ordered is lemongrass fried chicken but there is not even a hint of lemongrass.

 

I only managed to taste saltiness overall. And some part of the chicken is undercooked as evident by the pinkish red meat.

 

The skin is not as crispy as anticipated and the chicken is not warm. Hence it has probably been fried for some time already.

 

Photo by me

 

At $6.21, I would not say this is cheap for a Nasi Lemak. It would be worth the price if the above points can be rectified. If not, there's really no differentiation from other more economical (and nicer) Nasi Lemak and definitely nothing to justify this price point.

Would I be back?

Not for this dish. But maybe can give the other dishes a try when dine-in is allowed in future.

After all to be fair, the takeaway process might have affected the quality of it and sometimes a second chance is needed in life.

July 2021 Updates

July 2021

 

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

S$146,878.60

Purchase

 

200 shares of Didi Global @ average $9.925

1 free share of Sundial Growers from moomoo's Father's day contest

2 free shares of Blackberry from two other moomoo's contests

Sold

None

Dividends

 

None

Short-Term Transactions

2 x AMC Put 210716 40 with $1.44 premium. Closed out early at $5.21.

1 x NIO Put 210730 40 with $0.30 premium. Closed out early at $0.16.

2 x expired TDOC Put 210730 141 with $1.94 premium

1 x DIDI Put 210723 9.5 with $0.06 premium. Took assignment.

2 x expired DIDI Covered Call 210730 11 with $0.07 premium

Summary

01 July 2021 STI Open: 3,124.19

30 July 2021 STI Close: 3,166.94

 

STI managed to nip the bud and closed above its monthly opening after it has closed below its monthly opening for two consecutive months.

 

However it seems that the index is still range bound between a narrow band of 3,100 - 3,200. It will be good if it can break out from the resistance level of 3,250. Meanwhile there are still individual counters for possible long term investment entry.

 

 

For my SGD portfolio, there is a gain of around S$4K due to the run up in share price of the Reits and banks.

 

No transactions were done. 

Looking forward to the next round of dividends coming next month.

Finally MAS has announced the lifting of restrictions in the dividend payout of our local banks.

I'm not surprised by this news but I am surprised by the timing of it because it was only last month that they gave an indication on this.

 

I must say they acted pretty fast which of course, I am not going to complain about.

This news has likely been priced in since the share price of the 3 local banks did not really rally after the announcement.

However I'm more looking forward to the reinstatement of the dividend payouts to pre-Covid levels which will be a boost to my passive income.

ESR Reit has announced another round of preferential offering. I will likely be subscribing but whether to opt for more, I am still undecided.

Was looking to grab some CLCT at around $1.33 but didn't managed to do so. Its share price moved up to $1.40 after it announced a good set of results.

Either way I am happy. Chances always come back.

For my Syfe Core Growth portfolio, I am seeing a lower TWR which should be a result of the share price plunge of the chinese stocks. However it would be more meaningful to see the returns and review the portfolio when it turns one.

 

Have DCAed into this portfolio couple of days ago and plans to continue this strategy every month end.

For my USD portfolio, I added 200 shares of Didi Global (DIDI) at an average price of $9.925 for this month.

 

100 shares were bought from the market at $10.35. The other 100 shares were assignment from a put that I wrote.

I also received free shares of SNDL and BB, won from some contests in moomoo.

 

I really like the fact that there are frequent questionnaires, quizzes and contests in moomoo that one can participate to win points and free shares which to be honest, are quite easy to get.

If you still haven't sign up with moomoo, here's my referral link if you wish to do so.

 

You can check out the other sign up goodies here too.

By the way they are currently running a quiz where cash coupons can be won. The quiz questions are quite easy and for each correct answer you gave, you get a chance to draw from a gachapon machine.

It's quite fun and so far I have accumulated S$7. Hopefully I can get the S$88 or S$1,888 on the next rounds.

 

This month's options trading is a mixed bag of results for me.

 

After collecting ~S$900 worth of premiums last month, I made a loss of S$481.99 this month mainly due to the 2 AMC Puts which I decided to close early as I did not want to take assignment for now since I already have some existing shares bought in January this year.

I did took assignment for the DIDI Put that I wrote at 9.5 strike price as this counter is one which I have been eyeing but didn't buy when it got listed earlier this month. 

 

Reason is because I felt more margin of safety is necessary for this counter due to its fundamentals and the manner in which it rushed through its IPO despite concerns from the chinese authorities.

 

My personal take is that it was facing pressure from the cornerstone investors to list fast for profit-taking reasons. 

As it turned out, the backlash from the authorities came fast and furious. I'm glad I opted for the increased MoS.

 

Other than these, the other options are profitable ones. The 2 x TDOC Puts expired with decent total premium of US$388 (~S$525).

Moving forward I will continue to use options as part of my tools to supplement my investable income.

For my Cryptos, I have 2.000 BAT from the Brave Rewards worth USD 1.27 currently 😊. Well at least that is something.