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.

无股一身轻,无须太操心。
自救一夜眠,又能见周公。

10 comments:

Cory said...

You are very fast.

Marco said...

I have sold 40% of my total equities only.

Market Strategist said...

You may want to use your SGD to buy some Australian dollar.

Wealth Journey said...

mkt strategist,
I did switch my USD/HKD/EUR cash after selling my stocks to AUD.

But SGD is still very valuable during times of crisis.

Do remember that AUD is very much tacked to global growth and if a crisis do materialise, AUD is going down with the others.

Cory said...

I have sold 75% of my AUD. Yeah need to be careful on the timing of AUD.

foodiefc said...

Hi

wow so fast. my first time to your blog after I say ur post on AK71 post. Your dividend is impressive! I just started only. So still learning. My dividend will not be even $400 =)
I hope the market dun go down too much.

coconut said...

no you didn't? all of it?

i though you are an investor, but boy did i get it wrong. much fearless than most of the traders.

hats off to you.

Wealth Journey said...

coco,

I am a trend investor. I hold only when I perceived the major up trend to be intact.

And when facts change, I have to change my views. It's a judgement call. I may look foolish if it turns out otherwise, but that's what investing is about right? :) You have a view and you take action on it.

YJ72 said...

Saw your blog in September and was impressed by your guts to bail yourself out. I have similar view that it is going to be shit in 2012 and I decided to follow suit. It took me great determination but manage to sell 60% of my equities portfolio in October. I am keeping my finger cross.

Wealth Journey said...

YJ72,

Nice to know of another financially free blogger. We do have many in that addictive cbox of bullythebear. :)

Anyway, we just shift our assets according to our views. Right or wrong, it's alright as long as we don't lose money. ;)