Building wealth in 2023

This should be my last article for 2022. As we look back and reflect, 2022 would be remembered as the year in which US Federal Reserve unleashed its aggressive interest rate hikes to fight inflation. As a result, Singapore banks also increased borrowing rates. And then in a week time, GST will be hiked to 8% and then to 9% in 2024. Against this backdrop, it is not matter of choice for Singaporeans to consider growing their wealth to beat the cost of living. All Singaporeans must start the journey as early as possible.

Wealth

Stop tracking expenses!

Early on in my wealth journey, I confess that I did track my monthly expenses and personal income religiously without fail. But I had stopped doing so after three years because I noticed there were no significant improvements in my personal cash-flow. Instead of enhancing my wealth, the quality of life inadvertently dropped as I suffered from guilt pangs whenever there were unexpected expenses incurred from friends’ outings or wedding dinner red packets.

After a while, I began to realize that my life should not be controlled by a spreadsheet. I need to be larger than life and start living a life. After all, we only live once.

Read more

Singtel share price (SGX: Z74) in return of the prodigy?

Lifetime Membership

As we approach the end of the year, it is time to review the performance of Singtel share price. Year-to-date, Singtel share price rose by 10.30%. Whilst the increase was decent, the stock should have performed even better, if not for the prevailing bearish market sentiments. In fact, the stock was actually on a bullish form in the earlier part of the year, surging from $2.30 in January 2022 to a high of $2.80 in May 2022. Then the series of US Fed interest rates came along to douse the bullish form of Singtel share price.

Indeed, the series of interest rate hikes had rattled global stock markets. Singtel share price was not spared from the turbulence. From May to October 2022, Singtel share price had been in bearish form in the aftermath of the interest rate hikes. Despite so, my observation is that $2.60 is the support level for Singtel share price. Each time this level is reached, Singtel share price will somehow rebound.

Singtel share price

It seems that Singtel share price enjoyed the support from institutional investors. In 2022, the counter was often ranked in the monthly Top Ten Institutional Net Buy Lists except for the months of June, May, March and January (December result is not compiled yet).

Read more

Wilmar share price fell from sky

Lifetime Membership As we approach the end of 2022, it is time to review the performance of Wilmar share price. From a decade high of $5.60 in February 2021, Wilmar share price fell from the sky and lost its way. Looking back, the explosive form of Wilmar share price was largely due to the listing of its subsidiary, Yihai Kerry Arawana (YKA). Nonetheless, that form did not last somehow as the counter collapsed to $4.15 toward the end of 2021. What has gone wrong for this leading light of Straits Times Index (STI)?

To add to the intrigue, the implosion of Ukraine-Russia war in early 2022 led to a commodity boom. The unfolding event saw Wilmar share price recovering its form as the stock rose to a high of $4.90 in March 2022. Then again, Man proposes, God disposes. The month of March 2022 coincided with US Federal Reserve launching a series of interest rate hikes. Consequently, all hell broke loose for Wilmar share price. The roller coaster form of Wilmar share price must be gut-wrenching for investors.

Wilmar share price

In 2020, I invested in Wilmar and exited at a profit of $2,700 in early 2021. My lowest entry of Wilmar share price was $4.84 and I exited at $5.20.

Read more

Is crypto rat poison?

Lifetime Membership

From Terra to Hodlnaut, Celsius and Three Arrows Capital, 2022 will be remembered as the year of the implosion of crypto. The latest to join the list is FTX, which counted Temasek Holdings as one of its biggest backers. Indeed, the bloodbath of crypto had caused plenty of heartaches for retail investors. As we approach the end of the year, it is timely to do some reflections.

In this article, I will share my insights on three important money advice. The story is written from the perspective of Christianity but I have adapted the story to reframe it from the angle of wealth building. Note that I am not a Christian and this is definitely not an article meant to spread Christianity. Instead, I believe that readers can benefit very much from this sharing in the course of their financial journey.

crypto

In life, we will always receive money advice from well-meaning friends and relatives. Yet, very often, it is only those simple money advice that really withstand the test of time. As a matter of fact, the three money advice contained in this article served me rather well in my financial journey. Thus, I am sharing this article with readers.

Read more

Sembcorp Industries share price defied gravity!

Lifetime Membership As we approach the end of the year, it is time to review the performance of Sembcorp Industries share price. In July 2022, I made a forecast that Sembcorp Industries share price would fly after the Group issued a profit guidance that the “financial results for 1H2022 is expected to be materially higher than 1H2021”. Indeed, Sembcorp Industries share price had a fine run, surging from $3.00 on 22 July to hit a high of $3.50 on 6 September.

Year-to-date, Sembcorp Industries share price increased by an incredible 61.2%, making the counter one of the best performers (if not the best) in Straits Times Index (STI). It seems that not even the market turbulence brought forth by the US interest rate hikes could disrupt the bullish form of Sembcorp Industries share price in 2022. Question now is whether Sembcorp Industries share price can carry on its fine form in 2023?

Sembcorp Industries share price

Admittedly, I am a big fan of Sembcorp Industries as it was my best investment. I had clocked in a profit of $17,500 after cashing out in December 2020. Back then, I had predicted that Sembcorp Industries share price would continue to perform well in 2021, which it did.

Read more

OCBC share price to shine in 2023?

Lifetime Membership As we approach the end of the year, it is time to review the performance of OCBC share price. I had bought 6000 OCBC shares in August 2021 but exited when OCBC share price was trading at $12.40. The key reason for my exit was the unpredictability of OCBC share price.

When I invested in OCBC in August 2021, my thesis was that bank stocks should perform well in high inflationary environment as high interest rates generally lead to higher net interest incomes for the banks. Back then, I had anticipated that US Federal Reserves would hike interest rates in 2022 and that Singapore bank stocks would be the biggest beneficiary from the rate hikes. However, OCBC share price had not taken off as I have envisioned it to be. And I was humbled.

OCBC share price

Year-to-date, OCBC share price has risen by only about 8.3%. While this is a really decent performance, it should be highlighted that US Federal Reserve has hiked four consecutive 75 basis point of interest rates. Against this context, OCBC share price should have increased by a higher margin but have flattered to deceive so far. What could be the key factors?

The problem with OCBC share price is that it is vulnerable to short selling activities.

Read more