I didn’t manage to write any new post in February. I need to apologize for my tardiness.
I went Down Under to visit a friend and his family in Sydney. Took advantage of the CNY holidays. Went to NZ South Island thereafter for 10 days. Everything started well enough. There were hints of the Covid 19 situation in late January. As I was away from Singapore, I could only follow the news via my mobile. By the time we landed on 9 February, things have taken for the worse. Changi Airport was deserted. Restaurants were half empty. People were queueing for toilet papers.
Things went downhill from there. Including the financial markets all over the world. My portfolio went into the red – low teens currently. I enrolled in a RSP just in time which will start next week. The blue chips which I have been eyeing for all these years suddenly took a dive and it looks like the dive is not over yet.
I am excited to see what happen next week. I will likely deploy some $ in the stock market. I have about $400k in ammo. If I can deploy all successfully during this downturn, I can easily bring forward my retirement by at least a couple of years. Fingers crossed. I have been waiting for this since the GFC. Back then, I invested a bit in DBS and OCBC. I have made many times my initial investment but the quantum was too small to make an impact.
Warren Buffett said many times “Be fearful when others are greedy, be greedy when others are fearful”. This is the time to be greedy.