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  • Writer's pictureKaChinging

Monthly Portfolio Update: May 2020, Bullish to Bullshit?

Here we are half way through 2020, time definitely flies huh? I have been binge watching shows lately hence the lack of new posts. Considering that I had been having challenges on changing employer even before my current, a career switch maybe necessary so I have been investing my time on learning too.

I did update my thoughts on ComfortDelgro and Silverlake Axis though, somehow it didn't show up on feeds. Linked it in case anyone is interested.

Going over my portfolio...

For SGX listed equities:

  • Averaged down on Silverlake Axis at $0.255

  • Averaged down on CMT in my CPF at $2.06

  • Averaged down on CCT at $1.76

Singapore will soon move into Phase 2 so that might return some confidence in REITs. I was really hoping that the government will do so only when there is consistent 0 cases.

For US listed equities:

  • Sold FaceBook at $213

  • Sold Kraft Heinz at $30.65

  • Sold Twitter at $31.80

I thought I was a bit smart to cash in all my winning positions during this rally but just like Jon Snow, I really know nothing... about the bulls. Could have made another 10% if I waited. Oh well, hindsight is always 20/20. Maybe I should spend time to learn some TA.

Anyway, I feel more comfortable now with a bigger cash position. The current outlook of US market is bleak. You have rampant unemployment that is worse than during the Great Depression, negative interest rate, civil unrest, high number of new COVID-19 cases and yet the market is not reflecting the reality of things. I see people claiming that market is forward looking but what is there to look forward in the short term?

Hertz (NYSE: HTZ)

Chesapeake Energy (NYSE: CHK)

Then, we have all kinds of funny things happening in the US market. Hertz and Chesapeake Energy are two of the many companies in US that filed for chapter 11 and for some reason market decided to throw money at it. Both share prices soared by a crazy amount, defying investing logic. So market is bullish? I think it's bullshit.

Though, I feel that situation is still not as terrible that it is past the tipping point. The recent interview by The Investors Podcast talked about this. They think that economy will truly be considered bad when products are being sold at inflated prices yet the public is still willing to pay for it. I recommend readers to listen to the podcast on global macro economics here, it was certainly insightful and funny.

Whether it will become a reality or not, I don't know. However, one thing I do know is that 2020 has been full of surprises so we should keep an open mind.

Disclaimer: The information listed here are strictly my personal opinion. It does not constitute as investment advice. Please do your own due diligence.

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