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Monthly Portfolio Update: August 2020

I have made some changes to my portfolio...



For SG stocks:

  • Cut loss on First REIT at $0.43 per share: Should have done this a long time ago when its sponsor made decisions without notifying the management. Definitely don't like the sound of my investment running around like headless chicken.

  • Withdrew my money from AutoWealth: Though AW made me a 12% profit (probably even more had I diligently DCA into it), just felt that the money could be better invested elsewhere. Yeah I know, it is kinda ironic. AW is doing better than my portfolio yet I went to sell? Read on to know more.


For US stocks:

  • Sold Altria at $44.40 per share

  • Cut loss on Molson Coors at $38.50 per share

Originally, I invested in these two stocks was to test a theory of mine so I kept them as tiny positions in my portfolio. It didn't work out well and these businesses appear to be struggling hence the clean up.



Crypto

Since my previous update, total value in my holdings actually doubled at market ATH (All Time High) before last night's correction. Just overnight, I lost 50% paper gains. Volatility is definitely there but in the crypto space, it is just another day.


Things are certainly fun (maybe too risky depending on how you see it) in crypto with all kinds of new developments coming up rapidly for crypto investors to participate. Just last month, there was a YAM token yield farming which subsequently failed due to some bug in their smart contracts. Now there is SUSHI, the next day KIMCHI, followed by FARM amd HOTDOG. SUSHI is probably the most legit one out of the rest.


Screenshot from sushiswap.org

4 digit APY (Annual Percentage Yield). Ponzi much? xD


I'm pretty sure anyone would scream "PONZI" after seeing 4 digit returns but it is not. Just think of it as some kinda in game currency like "mesos" in MapleStory. Everyone knows "mesos" are worthless but it becomes of value when some lazy bugger decides to buy them with real currency. By the way, what's the rate now for mesos? $1 for 10k? Haha


So, what's the moral of the story of Maplestory? Don't be a retard.


Come to think of it, buying SUSHI doesn't necessary equates to retardation. It depends on you play it. If someone bought SUSHI at the start, they would have gotten 11x returns after sold at the peak.

Screenshot from CoinGecko

Therefore, if made huge money = big brain. If lose money = retard. I'm joking by the way, doing so is absolutely risky af haha. Please do not take my words for it.


Perhaps, I would spend some time to write about SUSHI and what this "Chef Nomi" is trying to achieve.


Anyway, I will slowly shift my holdings into crypto. Hence, there will be a shift in my blog's direction but I would try to write about traditional stocks if inspiration strikes. Hope readers whom appreciate my previous posts would understand.



Till next time, cheers!


Disclaimer: The information listed here is strictly my personal opinion. It should not be regarded as investment advice. Please do your own due diligence.

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About Me

Engineer, 90s Baby, Newbie Investor, INTP, Sandwich Generation, Live to Work not Work to Live, Singaporean

KaChinging is about a young working adult venturing into the unfamiliar world of investing to alleviate the burdens of living expenses, reduce reliance on monthly salary and hopefully achieve financial independence.

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