Wednesday, September 14, 2016

Sleep September Updates

The market has been boring as shit. It has been for a while, and it still is.

That 2.5% move in the US indices last Friday sparked "markets in turmoil" headlines. Seriously? 2.5% down is considered turmoil? I still believe that we are in a global financial shit show and I've already cast the first stone, or flung the first poop.

I'm short to the neck with my CFD account. The guy that has to do the margin calls already knows me. "Yup... you've been in margin call for a while now so... yeah, please monitor your positions carefully".

Maybe I'm a pessimist, but I think the US indices are absurd and the fallout will spread. As cheap as Singapore stocks are, I think they can get cheaper, especially in certain sectors that are obviously doing terrible. I have no idea why their stock prices are still holding up to some extent. I definitely think that there is plenty more room for stocks to fall if there is a global crisis.

And as always, I'm still holding out to get my own place because prices of property are still ridiculous. It's funny to see how transaction volume has vanished, yet sellers are still steadfast on their crazy pricing. With the market supposedly lower, I see some projects with every single listed psf price higher than the actual transacted price at the market peak. Again, I think we can head lower. I know a lot of people think that we have already flatlined and we are poised for blast off. I disagree, but hey, it's my money and my positioning. You do what you gotta do, I'll do what I wanna do.

I'm like a broken record. I've been talking about the overvaluation of the US markets, the fallout and the effect on the Singapore market and the high property prices for a very long time now. Pretty much just repeated everything that I said in August. It's okay though, I'm very comfortable with all my positions and with every month passing, my war chest grows bigger and bigger.

Interestingly, BullionStar wrote an article on the expansion of the GST-free policy on investment grade precious metals. I've also started looking at SilverBullion's P2P loans, which I personally find very tempting. Compared to crowdfunding which is all the rage now, this is something that I would prefer.

AK just posted one of the most asked questions I get about insurance and I really wish more people read a post like that before committing to whole life / 99 years old insurance products. Sadly, people will not. Oh well.

I have also received my PAssion card (free 5 year membership) and I have already qualified myself for the $20 cash rebate! Now I can accumulate Tap and Go points and also get merchant discounts. I like to eat Makisan and with the PAssion card, I get 20% off! This is probably the best membership card that I didn't pay for.

I will also be setting it up so that it is my ATM card and my auto-loaded EZ link. After that, I can retire my POSB Go! Card, but not before getting a refund of whatever is inside my NETS Flashpay wallet. My razor thin wallet will then drop to only 2 plastics (other than IC and driver's licence), the other being my OCBC 365.

Lastly, I received my SCB Singpost card which should come with $138 cash rebate since it is my first and only SCB card. I plan to buy my plane tickets and book my accommodation with it for my next trip. I've found pretty cheap tickets from and I'm still looking out for my accomm before I decide to spend on my trip. I'm looking at rebates of $198 ($138 promo rebate + $60 rebate from the 7% spending) when it is all done!

I've been busy with work, though my big project of the year is ending next week. After that I will be looking to train up for my IPPT (get cash reward!), try my hand at being an Uber driver (depending on the sign-up incentives, I think close to $500 is up for grabs with a weekend's worth of work), refine my freelance portfolio and take on some jobs, discuss my next business plan with my partner and also lots of my own personal rest, recreation, study and self-improvement!

When people say that they are so bored, I really wonder what they do in their free time. Hmm.

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