STE's Stocks Investing Journey

 Hi everyone, fellow value Investors,is me again , back with another deep dive into the wild world of stocks. Today, I want to take you on a journey to explore something that’s been buzzing in my mind— why the stock market isn’t just a linear game of numbers and predictions, but rather a living, breathing *Complex Adaptive System* (CAS) . Think of it like a bustling ecosystem, constantly evolving, adapting, and reacting to the chaos around it. And what better example to unpack this than the current US stock market, especially the tech and AI sectors, which have been riding a rollercoaster of global capital inflows over the past two years? What is a Complex Adaptive System?   <source: wikipedia.com> The Non-Linear Nature of Markets Forget the textbooks that try to boil the stock market down to simple equations or predictable trends with lot's of jargons and technical analysis. The reality is far messier,and that’s what makes it exciting! A Complex Adaptive System is all a...

 Hi ! everyone, it’s time for my September 2025 portfolio and dividend update, as most of my HK/CHN stocks have already announced their 1st half 2025 results by the end of August, and I’m excited to share the latest developments in my investment journey. The markets have been a wild ride this year, with some pleasant surprises and a few sobering reminders of the need for patience. Before diving into the numbers, I want to take a moment to reflect on some timeless wisdom from one of my investment heroes, Howard Marks, whose latest memo, *The Calculus of Value*, offers a masterclass in navigating today’s lofty markets. After that, I’ll break down my portfolio performance, dividend updates, and some thoughts on the road ahead. Let’s get started!     Howard Marks and *The Calculus of Value*: A Lesson in Stock Valuation <Link>   I’ve always admired Howard Marks, the co-founder of Oaktree Capital, for his ability to distil and digest complex market dynamic...

 Hi! Good day, everyone. I’ve hit another milestone in my financial journey, and I’m thrilled to share that I’ve officially closed my CPF Investment Scheme (CPFIS) account . ( Also means Uncle reached 55 years old liao   😊 . Turning 55 feels like crossing a major finish line, and it’s a milestone that comes with reflection.    After years of navigating the stock market with my CPF Ordinary Account (OA) funds, I’ve walked away with a tidy 11.2% return. That’s a solid win, especially when you stack it against the CPF OA’s guaranteed 2.5% interest rate. I’m not here to brag, though, but more to reflect on what this means and why I’m cautiously waving the flag for others thinking about diving into the market with their CPF savings.   A Win, But Not Without Caveats   Let’s get one thing straight: beating the CPF OA’s 2.5% interest rate feels great, but it’s not a walk in the park. That 2.5% is a risk-free return , a cosy safety net that grows y...

 Over the past decade, I've seen an increasing number of people become interested in investing, thanks to low interest rates, a rising tide of financial literacy content, and FOMO (fear of missing out) driven by friends or social media posts showcasing multi-bagger returns. However, while investing can be a powerful vehicle for growing wealth, the hard truth is that stock investing is not for everyone. Yes, we can learn about valuation metrics, free cash flow, dividend yield, or which REIT gives better DPU. We can study ratios like P/E, P/B, or ROE. All these are important, of course. Investing is not only about financial figures. It is just as much, if not more, about managing your emotions and having the right temperament; hence, not all investors are created equal. Let me share why I say so.   Markets Are Not Machines — They Are Driven by People Unlike physics or mathematics, markets are not built on cold, rational formulas. Markets are moved by humans, and we hum...