uncle lim kopi

 Today chiong ah!!! I have never seen CLCT go up 10% in a day. Wonder who the hell wants to buy at this price? Covering shorts? LOL Anyway, enjoy the ride. I am still underwater on this one, but always happen to see it approach the water surface, hopefully it can get some air soon...hahaha

Finally I decided to expand my SG bank holdings to include UOB, bought 100 shares at $32.65 I don't think I'l make much, but this will form the start of my accumulation journey for this bank, similar to what I did for OCBC.  What about DBS? I think DBS is amazing, but it also has a big run up in share prices recently, so I'll wait. Moreover, I feel buying any of the 3 local banks are about the same, just that I feel better to diversify into at least 2 instead of just focusing on 1. I also have all my SRS funds invested into STI ES3 index ETF, which is like 40-45% composed of the 3 banks, so in a way I am already invested in DBS lol I think everyone will think rate cuts over this year and next will hit the banks hard, but I don't think so. The banks are not dumb, they also expected the rate cuts so they are prepared for it. When rates are cut, they will just reduce the rates paid out to depositors to maintain their interest margins. It's not that simple but the gener...

Uncle had resigned from my job, due to various reasons that I shall not dig into here as that is not the purpose of this post.  Whether this will be a transition phase before I get another job, or an actual retirement from work, I don't know yet. It is, TBH, pretty scary since this is definitely a new experience for me. While I am fortunate to have a spouse who is still working and earning a decent income, plus I am in a non-too-shabby financial situation, it is still scary. Why? I think the scary part is, I have not much reference point to take inspiration/learnings from. Have been checking out blogs and YouTube for ideas, but all these are usually influencers who wrote for some underlying motivation that doesn't really reflect real life. I am sure someone who is very real has wrote something out there, I just need to keep searching. Also, have been making a point to talk to friends to get some ideas, but that can only help a little, given how diverse our personal experiences ...

  How is this comparison fair? Private apartments varies greatly in sizes. Some are just studios, while others can have 5 or more bedrooms for larger families It would be more useful if the average/median is compared across similar sized apartments.  Per household member distribution would be good too but I don't think that can be provided by SP since they won't know the household size.

During kopi, I was reading this  https://www.channelnewsasia.com/singapore/99-1-property-arrangement-tax-mother-and-son-charged-4620016 I wonder who is the mastermind. The mum, the son, or the agent(s). This is a showcase of a very painful lesson that awaits those who think they can outsmart the tax man by exploiting so-called loopholes. TBH, if it is a loophole and you think it is there for you to exploit, do think twice or even twice-twice-twice. This isn't a game of DOTA. The downside of being caught is way too high vs the gains you can get.  Imagine being forced to cough up the owed ABSD plus up to 50% of it as a penalty. If you can't afford to pay the ABSD in the first place, I cannot imagine what shit hole you are digging yourself now that you have to add 1.5x of the same amount. Probably have to sell home or take a loan from others.  Uncle bought a condo as 2nd property with Aunty back when we still had our matrimonial HDB. At that time, ABSD for SC for 2nd propert...

Invest, earn income from it, add the income back to capital, now earn more income, add that income again back to capital. Rinse and repeat. Your capital grows at accelerating rate, along with the income it generates, even if returns is a fixed % of capital. Make every dollar work hard for you tirelessly while you enjoy life. They are your little minions... The hardworking minions generates some more dollar/minions, which are immediately added to the "workforce" to start working for you, so you have more and more minions working for you over time. This is how rich people get richer and richer, not without effort, but with less and less effort as the workforce grows. You'll never run out.

 Felt really sleepy about 30mins after lunch. Had a bowl of dry prawn noodles from nearby hawker stall. As with such hawker fare, it is mostly carbo with little protein and veg. Tried reading on my computer in my cubicle room with a/c on, but 30mins into it, zzz monster struck! Went to take a nap for 1 hour and typing this now.  I don't think I have health issues. So I am attributing (i.e. blaming) it on: 1. Carbo heavy lunch 2. hot weather/AC stuffy Did my usual bicep curls and took a banana and went for a walk and go to lounge to read. I need to switch/watch my lunch food

 Next week, FED is likely to cut rates, but there are also other possibilities - cut rate - doesn't cut rate - cut rate by larger than expected - cut rate by smaller than expected Specifically for SG counters, REITs are going through some wild swings, but mostly up.  Looks like everyone is buying REITs, based on common logic that lower rates will result in REITs earning more as they refinance their loans at lower rates, thus resulting in high DPU. And of course this will not happen overnight, as it depends on the rates that each REIT can get, as well as their loan expiring/renewal schedule. This also assumes rental revisions are same or higher for the REITs. Assuming no recession, we can expect rents to inch up over time. So, does it mean the current REIT unit prices are already at the level we expect for the expected rate cut, i.e. it's already priced by market? So if FED did not cut, or cut smaller than expected, we can expect REIT to correct down, and Banks to inch up as ma...

better battery life, slightly bigger screen, faster processor. Isn't that expected when you produce a new iPhone model?  I think I'll stick to my current one until IP17 or IP18 is out, and not because those will be much better than 16, but because by then my current IP will require a battery replacement and also probably a little too old. But as usual, IP has resale value, so I will be able to sell mine for a decent few hundreds to offset the new one. No need to change every 1-2 generations, unless Apple comes up with something revolutionary.  The folding phones from HONOR and Samsung are much more interesting. They really present something different. But for now, Uncle cannot see why he needs to use a large screen when out and about. 

 Wah finally win something for kopi 

FED started raising interest rates from March 2022 to curb inflation. Rates were near zero, and the hikes bring it to above 5% over a period of 1.5 years. During this period, banks enjoyed increased profits since they can loan out money for more interest earnings vs what they pay to depositors. This helped the 3 local banks that have large savings deposits.  At same time, REITs suffered as they had to set aside more money to cover higher intest payments for their loans as they refinance during this period, moving money to the banks coffers instead of paying out as dividends to unit holders.  So Uncle think its always good to balance a portfolio with REITs and Banks. When rates are high, dividends from REITs drop because the money goes to Banks. But dividends from banks goes up, so this goes back to you as investor. I expect banks to lose some earnings as rates get cut gradually over next 1.5-2 years, while REITs will start to recover as they refinance loans with lower rates. B...

  After adding slightly over $400k into the SG market since May 2024, and the recent price recovery for REITs, uncle's portfolio hits $1M milestone today.  Frankly, I am investing for income, so this doesn't really matter to me since I am not selling. But just for vanity sake, as well as for memory sake in case I go senile soon, I'll put a screenshot here for Internet to see hahahahaha. Slowly accumulate, don't get swayed by emotions, or fancy get-rich things, avoid following trendy thing (bitcoin, options etc), buy low, sell high (or hold), Uncle can do it, so can you.  Going forward, I will continue to add more to increase the income flow. But will retain double-digit percentile of cash and US equities for balance

 It's funny when some clueless drivers of ICE cars, typically those older than 50yr old, have no idea how fast most EVs can take off from stop. You'll see such drivers thinking their 2.0/2.4L IL4 petrol cars (usually Japanese MPVs/SUVs) can easily overtake/cut-off all other "small" sedan cars on the roads (except those which are obviously sportscars/super cars), and hence they tend to not want line up early on the correct lane to make a turn, thinking their big and powerful family mobiles can just zoom out first and overtake any car from stop lights.  Then you'll see their disgruntled face in your rearview as your EV left them many car lengths behind within 2-3 secs, as they end up having to filter behind to change lane in order not to miss their turn. Yeah, you clown, now it's time to have a taste of your own medicine. Plan your route properly, the roads are no longer a playground for you to any how drive, as your stupid petrol car isn't the fastest dog n...