tag:blogger.com,1999:blog-32664921270392665312026-09-29T11:23:45.138+08:00 "The stock market is a device for transferring money from the impatient to the patient " by Warren Buffet .STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.comBlogger291125tag:blogger.com,1999:blog-3266492127039266531.post-10375860709189444832026-09-29T11:20:49.795+08:002026-09-29T11:23:45.138+08:00

We all want to know what happens nextOne of the most natural things for an investor to do at the beginning of every year is to look ahead and ask a very simple question: where will the market be by the end of the year?We want to know whether the STI will rise, whether Hong Kong stocks will finally recover, whether the US market can continue its rally, whether interest rates will fall or rise, and

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-9326519884306585092026-09-11T09:58:04.918+08:002026-09-11T10:36:51.906+08:00

Sometimes one chart tells a better story than many pages of numbers.The chart above shows my quarterly dividend and interest income since I started investing almost 30 years ago. The blue bars represent the income received in each quarter, while the red area represents the cumulative amount collected over the years.When I first started, the numbers were very small. A few hundred dollars of

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-18557143272596438522026-08-21T10:51:38.373+08:002026-08-21T10:51:38.373+08:00

The Human Side of InvestingIf you spend enough time looking at stock charts or scrolling through financial news, it’s easy to think investing is all about numbers. We’re often told that if we just analyse a bit more, find that one hidden insight, or build a better valuation model, we’ll eventually figure it all out and succeed.But after years in the market, watching banks' stocks / REITs go up

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-33630593719649788842026-08-05T08:03:00.154+08:002026-08-05T08:03:00.154+08:00

When most people talk about the stock market, the conversation usually revolves around company earnings, interest rates, inflation, or the latest geopolitical conflict. These are all important factors, but I have always felt that they do not tell the whole story. Beneath everything we see on the surface lies another force that quietly influences the direction of the market every single day. That

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com1tag:blogger.com,1999:blog-3266492127039266531.post-17864885234652871212026-07-25T11:38:42.382+08:002026-07-25T12:20:25.978+08:00

When you finally cross the finish line and transition from accumulating wealth to spending it, the mental shift is massive. For years, you’ve been focused on growing the pie. Suddenly, you have to figure out how to eat it without running out before you die.In the local financial community, especially around Singapore, dividend investing is often treated as the holy grail of retirement. The idea

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com2tag:blogger.com,1999:blog-3266492127039266531.post-2783910855569378852026-07-11T16:51:30.312+08:002026-07-13T11:08:18.571+08:00

Time really flies. It feels like just yesterday we were welcoming the new year, and now we are already crossing the midway mark of 2026. It is that time of the year again when I sit down, look through the numbers, and do my routine portfolio review. Keeping track of where things stand helps me maintain an honest view of my investment journey, especially now that I am living off this nest egg in

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com3tag:blogger.com,1999:blog-3266492127039266531.post-57940873353572438282026-06-10T10:49:47.179+08:002026-06-10T10:49:47.179+08:00

Having spent so many years navigating the ups and downs of the stock market, I am more convinced than ever that equity investing boils down to just two words: market cycles.<Image credit: Fidelity Investment>There is no such thing as permanent value in the stock market; there are only shifting trends that take turns dominating different periods. What was highly sought after yesterday won't

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-14374399465670276182026-05-29T10:16:06.694+08:002026-05-29T10:16:06.694+08:00

 When it comes to retail investing, many people spend years doing *more*, analyzing more charts, reading more news feeds, and trading more frequently, only to find their returns trailing the broader market. It is easy to get caught up in the noise and assume that investment success requires constant, hyper-aggressive action.However, long-term wealth accumulation is actually governed by a

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-58390677974607023802026-05-19T10:48:10.656+08:002026-05-19T11:43:37.980+08:00

For many of us who have spent years navigating the Singapore and regional markets, we often get bogged down by the "noise." We look at quarterly earnings, we obsess over whether a REIT's occupancy dropped by 1%, or if a company’s CEO had a bad day during an analyst call. But after decades of investing, I’ve realized there is a much bigger tide at play. It’s not just about the ships; it’s about

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-4317246289753288102026-05-03T10:14:00.001+08:002026-05-04T10:57:45.998+08:00

From time to time, I receive messages / questions like this:“Though it's interesting to know the shortcomings ( biases / behavioral finance) we may be facing, it doesn't really help noobs, or maybe even more seasoned investors, on what to do to avoid them. Does anyone have anything to share to expand on the things to do to become more disciplined, define exit strategy, things like that?”It’s a

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-33813321601485441012026-04-25T10:02:00.005+08:002026-04-25T10:02:57.372+08:00

It’s funny how, in the world of investing, doing nothing is often the most productive thing you can do. We’ve all been there, sitting in front of the screen, watching the red numbers tick down, feeling that itch in our fingers to "do something" to save our hard-earned capital. But if my three decades in the markets have taught me anything, it’s that the market is a master at shaking people out

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-17196824400563627502026-03-13T09:38:00.002+08:002026-03-13T10:29:37.714+08:00

It’s hard to believe it’s been 30 years since I first dipped my toes into the world of investing. As I look back at the journey from a curious secondary school student to where I am today, I realized that investing isn't just about spreadsheets and stock tickers; it’s a lifelong lesson in patience, discipline, and understanding human nature.Humble Beginnings: The Grocery Shop "Library"My interest

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com2tag:blogger.com,1999:blog-3266492127039266531.post-4615189929962882192026-02-23T11:08:00.000+08:002026-02-23T11:08:00.084+08:00

Today I want to share something I genuinely enjoy and honestly, something far more important than endlessly crunching numbers or tweaking valuation models. Investing isn’t won on spreadsheets alone. P/E ratios, discounted cash flows, and balance sheets matter, but they don’t explain why markets panic, overshoot, or stay irrational far longer than they should. That part is human.Remember John

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-58076436702201342682026-02-08T22:06:00.001+08:002026-02-08T22:06:43.942+08:00

Over the years, I’ve realized that investing isn’t really about finding the perfect stock or predicting the next big move. It’s more about how we think. Two people can look at the same balance sheet, the same chart, the same news, and walk away with completely different conclusions. The difference is rarely intelligence. It’s the mental model they’re using, often without even knowing it.Mental

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-21453335561962519902026-01-14T10:01:00.001+08:002026-01-14T10:01:10.097+08:00

When I first started investing, I believed the usual story. Read the financial statements, find good companies, buy at a reasonable price, and let time do the rest. On paper, it sounded simple. But reality has a funny way of humbling you.Over time, I realised that the biggest challenge in portfolio management isn’t finding information. It’s dealing with ourselves. Fear, greed, impatience,

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-67760597182514987642026-01-04T22:18:00.002+08:002026-01-09T11:26:53.644+08:00

This is my first blog post of 2026, so let me start by wishing everyone a Happy New Year. I hope 2026 will be kind to all of us, with good health, steady income, and returns that are at least as decent as what we experienced in 2025. No need for anything spectacular, just consistent and sensible gains will do. 😊Before rushing into new plans and ideas for the year ahead, I find it important to

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-34201386232863615432025-12-22T17:03:00.002+08:002025-12-22T17:03:24.614+08:00

This lecture, delivered by Professor Jake Xia to  MIT OpenCourseWare class, provides a comprehensive and critical application-based perspective on portfolio management, moving beyond traditional theoretical frameworks to address the realities of investment and risk.<Ai Image>Executive Summary: Portfolio Management Beyond TheoryThis presentation offers a rigorous,

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-18164207271552505892025-12-08T13:09:00.001+08:002025-12-08T13:09:32.036+08:00

 YT Video : Credit to: 小貝叔叔Link: https://youtu.be/SH2RkVDbeVk?si=9V59V6UwDQ8iu43J"看完这集，你就能胜过9成股市散户！｜冷眼孙子股市兵法：真正的投资心法" (Watching this episode will allow you to surpass 90% of retail investors! | Cold Eye's Sun Tzu's Art of War for the Stock Market: The True Investment Mindset).The content draws from the author "Cold Eye's" 50 years of stock market experience, applying the ancient military

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-90733828947279084262025-11-30T12:28:00.004+08:002025-12-22T10:40:46.799+08:00

The stock market often feels like a rollercoaster, but investing isn’t only about spreadsheets, ratios, or balance sheets. At its core, it’s a psychological journey. The market’s sharp swings and tempting narratives don’t defeat most investors ,our own instincts do. These instincts were shaped over thousands of years to help us survive, not to manage a modern portfolio. That’s where behavioral

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-12233076869700309732025-11-21T13:56:00.002+08:002025-11-21T13:56:48.610+08:00

Managing a portfolio is not a one-time effort. It is an ongoing journey of discipline, patience, adjustment, and self-awareness. For long-term value investors, the goal has always been the same: build a resilient structure that grows steadily and survives volatility. Markets will continue to shift between optimism and fear, yet the investor who has a strong foundation can navigate these waves

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com2tag:blogger.com,1999:blog-3266492127039266531.post-46376633186006496562025-11-13T11:16:00.002+08:002025-11-13T11:16:36.137+08:00

You’ve probably heard the stories. Someone plows a modest sum , say, ten or twenty thousand dollars into a single stock like Nvidia, Apple, Tesla, or Meta, and poof! A few years later, they’re sitting on millions, sipping kopi at a fancy café while the rest of us slog through the daily grind. These tales of single-stock millionaires are the stuff of legend, the kind of financial fairy tale that

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-18278392837503993012025-11-05T11:04:00.001+08:002025-11-05T11:04:30.082+08:00

The Essence of Being a ContrarianWhen everyone rushes in one direction, the contrarian quietly walks the other way. This simple yet powerful idea forms the backbone of David Dreman’s classic “Contrarian Investment Strategies: The Psychological Edge.” Dreman, a legendary Wall Street investor, explored not just the numbers behind contrarian investing but, more importantly, the psychology that

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com2tag:blogger.com,1999:blog-3266492127039266531.post-80811952031998991852025-10-28T20:40:00.000+08:002025-10-28T20:40:39.175+08:00

Everyone Loves a Bubble – Until It BurstsInvestors love bubbles. Kids love bubbles too. The sight of prices soaring day after day brings excitement, euphoria, and a false sense of wealth. Everyone feels richer when stock prices are rising. Financial media celebrates new highs, analysts start upgrading targets, and even your barber , taxi drivers starts giving stock tips.But just like the soap

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-23884547719604140092025-10-21T10:44:00.000+08:002025-10-21T10:44:54.396+08:00

Hi everyone, this is STE here and welcome back to my investing journey.In this post, I’d like to talk about two popular ideas that often sound smart but can quietly mislead investors: Opportunity Cost and Yield on Cost.Both concepts have value in theory, but in practice, they can distort how we view our investments , anchoring us to the past instead of focusing on the future.Let’s unpack these

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0tag:blogger.com,1999:blog-3266492127039266531.post-47167155101755527332025-10-11T17:18:00.006+08:002025-10-12T09:31:06.914+08:00

Today, I’d like to take a deep dive into the fascinating world of global finance and explore how global liquidity has reshaped the stock market since the Global Financial Crisis (GFC). Over the past decade and a half, central banks around the world have been pumping money into the financial system, almost as if cash could grow on trees. This wave of liquidity has changed the way markets move

STEhttp://www.blogger.com/profile/03171270652249099828noreply@blogger.com0