Saturday, August 6, 2011

Portfolio Update July 2011

No charts, No returns.

I have cashed out of all my equities as of Friday 5th August 2011. Dividends collected was $127k but by year end, I should be in the region of $160-170k with my deposits and bonds.

Based on my gut instinct (which is wrong most of the time), I bailed out myself. Did I just sold into the Selling Climax? ..hehe...

A confluence of factors just make the future looks bleak. Upside is limited in my opinion. Downside is not.

1) A lot of countries are downgrading their own economic forcasts
2) A lot of analysts are downgrading the target prices of companies they covered
3) The start of financial institutions slashing jobs in the major economies and moving part of it to Asia.
4) Indecisiveness and Lack of Conviction as shown by the actions of ECB on Debts and Europeans countries on austerity measures
5) Same can be said of the US of A . But their hands are tied with the ultra-low rates and they have already unleased 2 monetary easing. It does not work. Will a third one worked?

After so many fake scares since 2009, this time, this one... really scared the shit out of me to compel me into action.

As with all things, this is the view now.. Until my guts starts feeling again, I think I'll step aside and watch the market. I will be BACK! Maybe sooner than I think.