2021 started as a continuation of 2020, with “stay-at-home” beneficiaries, technology and China stocks doing very well for the 1st month. China stocks are the best performing asset until March. But the tide quickly turned with the crash of both US Technology shares and China stock market. Interestingly, Singapore, one of the most unloved markets […]
The Year of Investing Dangerously – Ivan’s Reflections in January 2021
“Anyone can hold the helm when the sea is calm.” I start with this quote to remind myself not to be carried away by the wave of exuberance in the stock markets now. People may talk about how they make more than 1000% in Tesla’s stock or Bitcoin. And you may be tempted to join […]
The Great Value Rotation – Ivan’s Reflections in November 2020
Exactly one year ago, I titled “Income to Growth rotation” for my GMC Nov 2019 updates. True enough, growth stocks had a spectacular run in the past year, led by technology sectors. The market valuation is near dot com bubble level. Is it a time for a change now? In my last month’s update, I […]
A Better Hedge – Ivan’s Investment Reflection in August 2020
Over the past decades, it was easy to manage wealth. A textbook 60/40 portfolio, exposure to the S&P 500 Index and Treasury bonds, was an effortless winner. That is why there was an overwhelming opinion that investment was easy. But things have changed, the wreckage left by Covid-19, combined with a cold war between the […]
We Have Not Lived Long Enough – Ivan’s Reflection in April 2020
Every month, I publish an investment note called “Ivan’s Reflection”. The purpose is to document my thought process so I can review if they are right and wrong in the future. Note this letter is exclusive to my clients. It creates transparency for my clients and forces me to be accountable for my investment decisions […]
An Endurance Training – Ivan’s Investment Reflection 2020 March
Every month, I publish an investment note called “Ivan’s Reflection”. The purpose is to document my thoughts process so I can review if they are right and wrong in the future. This creates transparency for my clients and people who are interested in my investment management services. It also forces me to be accountable for […]