Cory Diary : Q1'25 Equity Performance

Quarterly performance review is not something i do often nowsaday. There usually needs to be motivation behind. We end the week with large volatility in the US stock Market. Big Tech got hit pretty bad and it could be a good thing considered the valuation is rich. Where there are low valuation out there, in a rich market under correction mode, everything typically get pulled down.

To cut the story short, Tariff War has been going on dragging the market into uncertainty and this result the market pulling back largely. In my opinion, I don't really agree to the opinion that it will be self-inflicted damage on inflation else the other countries won't be retaliating. When import from a country gets expensive, consumer will look for cheaper alternative. And this will be reduced demand for goods from tariffed country. So the impact is definitely large on them. Unless there is specific goods or services that has monopoly which most are essentials by America such as Netflix, Google, MS Office, Windows etc. Ofcourse this are't physical stuffs that can be tariffed.  This left with item like food, automobiles, commodities and this are areas which I think is what Trump wants. To bring back manufacturing through balance trade.

For Q1 my performance like last year has seen early deep dive and then recovery. Whether it will be strong later is yet to be seen. While the US exposure is relatively small and investing in Treasury helps some in understanding the market situation better, the tariffs reduces the sentiment to reduce rate cut quickly. This can also be seen on the rising Gold prices as safe haven. Interestingly, we don't see much strength in USD.

There is also no renew AI story interest to push the market forward this time after Deepseek saga. It looks the market has finally encountered too much headwinds. The macro situation looks like high rate is here to stay for a while and we shall act accordingly to our plan. Meantime, Warchest is something to watch for me.

Cory Diary

2025-0329

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Disclaimer: The articles presented in this blog reflect personal opinions and are intended for informational and sharing purposes only. Not responsible of errors. Readers are advised to seek professional guidance when making financial decisions and should take full responsibility for their choices.