Thursday, June 26, 2014

Housekeeping my Personal Finances (Part II) and Ranting

Since my first post back in early May about me doing some financial housekeeping, I have been busy with tons of things pulling and dragging my attention is 5 different directions.

However, I do recognize the power of listing out the things that I want to get done on a personal basis, and it honestly does help motivate me and remind me of the things that I ought to get done.

So, let me cross out some stuff from my old list:

1) Submit GIRO form for insurance
2) Submit e-statement to CMC
3) e-Self Update for military pay
4) Terminate EPS link of Phillip with DBS
5) Establish EPS link of Phillip with OCBC *processing
6) Go down to DBS branch to close account
7) Fill out W8-BEN form to be ready to trade the US markets

And add in some new ones!
1) ----------------------------------------------
2) Fill out W8-BEN form after that for DBS
3) Nominate other DBS account as main account
4) Test ATM / debit card works, or apply for new one
5) Remove closed-out DBS account from CMC listing
6) Remove closed-out DBS account from SCB payees list
7) Test EPS link to Phillip from OCBC
8) Test withdrawal to OCBC account from Phillip
9) Get personal medical shield insurance (now still paid by my father)
10) Monthly updates on my family's assets that I am helping to manage
11) Monthly updates on my dividend portfolio
12) Finish my book and write down notes
13) Read the rest of my books and give my reviews and notes

I have to say, I am pretty happy that I closed out my DBS account. With a $5,000 account minimum balance, it was holding up a lot of my liquidity. I am really quite happy with my OCBC 360 account that I am using as my main bank account. Together with the Frank credit card, I honestly save quite a bit. I do have to say that I am spending a bit more than my usual self would, but I guess I should try not to be such a tightass about saving money all the time. What's the point of accumulating all of it if you never get to spend it, right?

I have also begun expanding my dividend portfolio. I didn't list down my New Toyo buy because it is a small deal and I have been busy at work. As long as I can, I will definitely try to pre-announce the tickers and target prices that I am looking for, as well as my trades in real-time if possible. I think my portfolio strategy is leaning towards simple fundamental value screens, yields (dividends now, but shareholder eventually) and weightings (most likely equal-weighted with some allowance to drift to minimize transaction costs).

I have kind of dropped off my weekly updates on maximum drawdowns and moving average analysis on the different unit trust asset classes because I don't think that things have been changing much. The only difference so far has been that equities has been getting giddy, and I ain't chasing that train that has already left the station. In fact, I am getting a bit skittish about bonds too. Regardless, I still take down the data for future reference, I can see how it can be useful in the future. The global markets and asset classes are just too... artificial now. It really doesn't feel right.

I am still patiently waiting for a market smash soon. Honestly, just by the math, it has to happen soon. Who knows what will trigger it. It honestly doesn't matter. The wait is really killing me though. Til the party starts, I am patiently building up my war chest and making allocations only into things that I think would hold up well in the event of tail risk. I have to say, patience is tough!

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