STE's Stocks Investing Journey

 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...

2024 is about to end in a few days,  it was a rollercoaster year of market swings like a yoyo—up one moment, down the next. My portfolio value also had the same fate with the value up by +23% at one time and down to -2% at another point, and ended up with +16.5% as of 28th Dec 2024. Volatility ruled as global uncertainties and shifting sentiments tested investors' ability in portfolio management. Yet, amidst the turbulence, opportunities emerged for value-seekers to capitalize on irrational market moves. Let’s dissect how these dynamics shaped my portfolio performance and strategy this year. The Singapore Straits Times Index (STI) saw a mixed performance YTD 2024, reflecting the broader market volatility. Starting the year on a positive note, it faced sharp corrections mid-year due to global recession fears and geopolitical uncertainties. It recovered strongly in 2nd half ( up by almost +13.2%), ending with a gain of around 16.4% YTD with a strong performance from 3 Big Banks, ...