Cash / SRS / Crypto Portfolio
Performance Indicators / Dividends (TradFi Portfolio only)
- YTD Time weighted return: 2.69%
- XIRR since portfolio inception in 2013: 16.14%
- Dividends collected YTD: SGD 4,113.54
Note: I don’t provide details or returns metrics on my crypto portfolio publicly.
Short Squeeze in London
July was a interesting month. It started very much like the month before, a crab market that traded between the range of $1800 to $2200. This all changed after BTC and ETH bounced off the $30k and $1800 supports respectively, then followed by a monster short squeeze that sent BTC to $38k in almost a single candle. The successful and smooth upgrade of the ETH network (the so-called London hardfork) in the past week also reignited ETH (and BTC for some reason) prices into this portfolio update.
Consequently, my overall portfolio value grew back to $2,044,765. Barely a multimillionaire but hopefully more to come.
Return of the bull?
I guess the question on everyone’s mind (and mine) is whether this is a bear market rally or a return of the bull market.
The price action certainly is favourable, with majors moving without much movement in other alts / DeFi, which does not indicate too much froth. The crazy market in the past month has been largely focused on NFTs, which may be slightly concerning.
Personally, I feel the NFT bull market is probably fueled by crypto megawhales flaunting their wealth and is probably quite contained. I’ve also seen crypto hedge funds move into the NFT space, in anticipation of the further influx of the creator economy into the crypto space.
It’s all fascinating and great, I just dont really have an edge in investing in NFTs. Maybe the approach is to ape in and forget haha. Doesn’t sound like much of a investment strategy though.
As for the question of whether the bull is back, I don’t really know. The signs are promising atm, but it really depends. ETH has to be able to hold the $3k support (ETH passed $3k as I write this) and test ATHs. If not, we may be back to the June and July dog levels.
However, I’m cautiously optimistic and long term macro bullish, so I’ll be HODL-ing either way.
China investment risks get real
As you all know, China issued regulation in the online education industry that pretty much nationalised the education industry, wiping out a ton of equity value in the process. The subsequent contagion amongst Chinese stocks was pretty brutal too, with many tech darlings going down in tandem.
My stakes in Tencent and Alibaba were not spared.
I think it’s funny that we as investors have always known that China has idiosyncrasies that may not make them a favourable investment destination. We collectively have chosen to turn a blind eye to this risk, thinking that it is unlikely to happen.
China’s recent moves have proven this risk to be very real. I’ve felt it intensely in my crypto portfolio following their crypto mining ban, and now my holdings in Chinese tech.
On hindsight, it made perfect sense why China moved against the big tech, crypto and online education industries. I’ve always felt that the CCP under President Xi was becoming increasingly authoritarian. As such, anything that could potentially challenge the status quo has to be co-oped or squashed at all cost.
This latest move was the last draw for me. Consequently, I’ve exited my positions in Tencent and Alibaba. While I believe they continue to be great companies in their own right, I’ve no interest in being slapped around by Chinese regulations in the months ahead.
That doesn’t mean that I believe that the Chinese market is not investable. This decision may well blow up in my face as Chinese stocks rocket up without me.
I just feel that the money could be better allocated elsewhere.
As usual, this is not a call to buy or sell securities and its just sharing my own thought process for your information. Also, crypto is dangerous AF. Please do your own due diligence prior to investing.
Endowus CPF OA Portfolio
As you may know, I’ve started investing my CPF OA funds with Endowus. I’ve been sharing my portfolio performance for readers’ reference to evaluate product performance for themselves. Nothing much special this month, just the recurring monthly top up.
If you want to learn more about Endowus, do check out my review (Cash/SRS/Fund Smart portfolio details to be updated). Also, if you’re interested in opening an account, do feel free to sign up through my referral link. We will both receive $20 off access fees per referral.
Reader Appreciation
As usual, to the 3 and 2 people who liked my Facebook page and subscribed to my blog respectively since my last portfolio update, welcome. Most of you guys subscribed / liked after my webinar with Endowus, which is awesome. Feel free to reach out via email or Facebook. I’m usually quite responsive as readers can attest to. Hope that you have found my blog content useful 🙂
Past updates:
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
2020 Performance Scorecard
2019 Performance Scorecard
2018 Performance Scorecard
2017 Performance Scorecard
Happy Hunting,
KK
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