Cory Diary : Portfolio Nov 25 Returns

Throughout the year, there has been quite a bit of churn. Looking at the fee costs, they are roughly split 50–50 between the SGX and US markets. The latter is much more expensive due to the POEMS Cash Management Account. It was not supposed to involve much trading, but it ended up doing so this year. If they do not lower their fees soon, I may close this account and move to another broker. It feels like they have been “taking advantage” of long-time customer inertia—my fault for procrastinating!

On the flip side, some major portfolio moves in the SGX market were justified and drove significantly higher returns. A good example is cutting losses on MIT earlier this year. This counter performed well in the past and helped the portfolio stay defensive, but in my view, their data centre strategy has been poorly thought out in the current AI environment. They also do not give me confidence in their urgency or expertise in managing those assets. So when a rebound came, I cut my position sharply without waiting for a breakeven P/L.

We applied a similar reduction to Ascendas, but instead of waiting for a rebound spike, we exited in stages and rotated into banks. This turned out to be the right move. By the time the staged reduction completed, Ascendas contributed a small positive return, while the banking sector delivered significantly larger gains. I’m glad we exited these two major blue-chip REITs safely. Both were sizable holdings, and although they increased transaction costs, the rebalancing was necessary.

On the US side, costs are somewhat offset by gains from our positions. However, volatility remains high, and if there were a multi-day sell-down, we could easily slip into the red. The allocation here is necessary, but we are keeping it small. We can’t ignore growth entirely—we cannot rely solely on the bank segment.

With one more month to go before the year ends, the portfolio performance is as follows:

From what I’ve heard, there is currently a 77% probability that the US market will end the year higher. So I’m crossing my fingers for a new record profit. If that doesn’t materialise, I may reduce the US allocation slightly to build up a war chest. The portfolio has reached an inflection point, and I would prefer not to meddle too much if conditions allow.

Cory Diary

2025-11-29

CoryLogics Invest Chat - No Coin, No Porn, No Penny

Telegram CoryLogics <= Link to Telegram Chat

Telegram Cory Channel <= Link to Channel

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.

Cory Diary : How to DIY my Own Investments

Why I Wrote This

This article began after an old friend messaged me yesterday. A bank had approached him with a Structured Investment Product (SIP) requiring a minimum investment of 200k. Like me, he retired early. Unlike me, he has substantially more wealth. Yet from the way he described the offer, it was clear he hasn’t done much planning for his retirement investments.

He told me the SIP was “capital guaranteed” and involved a complex structure that would generate monthly returns through the bank’s stock market activities. Both of us were puzzled how the bank could profit from such a product.

My Immediate Thoughts

Common sense tells me: no bank can truly guarantee your capital, not even for a single day.

So there must be a misunderstanding somewhere. And obviously, if it sounds too good to be true, there’s a catch.

My first reaction was:

Why even play this game with the bank?

If you want to invest, invest properly. Avoid jargon, complex structures, derivatives, “monthly stable returns,” and all that nonsense—especially if you don’t even know how to buy a stock yourself.

So I decided to write down what I would do if I were starting fresh as a new investor with a large retirement sum. This is not financial advice, but a personal sharing of what I think is reasonable.

First: What to Avoid

Before anything else, avoid these pitfalls:

Do not invest in business ventures.

Do not gamble.

Do not touch Structured Products.

Buy adequate insurance (hospitalization, annuity, travel) if you did not secure these earlier in your career.

Treat every request to remit or transfer money as a potential scam.

For term insurance or critical illness at this age: be extremely cautious. Premiums are high and can burn a hole in your retirement funds.

My Suggested Starting Steps

1. Secure a Base: SSB

Allocate the first 200k into Singapore Savings Bonds (SSB).

This assumes you have far more in retirement funds. SSB gives flexibility, safety, and liquidity at your fingertips through online banking.

2. Ensure CPF Reaches FRS

If your CPF Retirement Account has not reached the Full Retirement Sum (FRS), do a top-up.

3. Consider Going Up to ERS

Depending on your retirement size and needs, you can top up from FRS to ERS.

This guarantees a solid monthly payout from age 65 with practically no risk.

4. Park Some Money in T-Bills

Rates are low now, so treat T-Bills mainly as a parking lot for future deployment.

Good to go through the process and learn it. Done online via your bank.

5. Use Fixed Deposits or CPF OA

Put a portion into fixed deposits. Again, do it online.

Alternatively, transfer more into CPF OA at 2.5% via VC3AC, which also tops up the other CPF accounts.

6. Max Out CPF MA

If you still have excess cash, maximize your CPF Medisave Account (MA).

7. Gradual Deployment Into Equities

Whatever remains will depend on your portfolio size.

I would then slowly allocate into equities over several years to average out market cycles.

If there is a major crash, your cash becomes king—you can deploy quickly at great valuations.

If the market rises while you invest, you’re averaging up, creating a profit buffer. Personally, I prefer that as it gives me more mental comfort. Averaging down is far more stressful.

For new investors, start with broad ETFs:

STI ETF

S&P 500 ETF

Sector or thematic ETFs should be left to more experienced investors.

Final Thoughts

This is the “quick and dirty” outline of what I would do if I were starting with a large retirement sum today.

What do you think?

Cory Diary

2025-11-26

CoryLogics Invest Chat - No Coin, No Porn, No Penny

Telegram CoryLogics <= Link to Telegram Chat

Telegram Cory Channel <= Link to Channel

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.

Cory Diary : Dividend Updates

Dividend Hits New Record

With most of the major dividends now ex-dividend, this is a good time to tally how the portfolio is performing. Year-on-year, we are looking at a strong 30% increase in dividends, driven mainly by sustained growth from the banks. Part of this year's spike is due to timing effects—some counters were bought just before ex-dividend dates, while others were sold only after collecting dividends.

Looking ahead, the macro environment for REITs is expected to improve in 2026, which could translate into higher distributions. On the banking side, DBS is working toward a 6-cent quarterly dividend increase, although the total portfolio dividend amount may remain flat in 2026. 

Nevertheless, the portfolio has finally broken out of the flat dividend trend that persisted over the past three years. Previously, the priority was portfolio growth through capital gains, which kept dividend increases modest. 2025 is shaping up to be a special year: barring any black-swan events or severe macro shocks, we may enjoy both higher dividends and stronger portfolio growth compared with recent years.

Below is the breakdown of where the dividends came from. Please note roughly 50% of the stocks listed are no longer in the portfolio, as we conducted a major shake-up throughout the year.

Strategy

The strategy is to reduce the volatility of the dividends segment of the portfolio for 2026. This means REITs like UK REIT, which face large forex and interest rate risks, are removed. Some are too small to track, like STI ETF, iREIT, Boustead Projects, MIT, Mapletree Logistics Trust, and a few others. A few were trading counters that happened to go ex-dividend, like Keppel, UOB, BABA, and CICT.

US Treasuries were tested but found not worthwhile. On the banking side, we have reduced holdings to only DBS. Some dividends came from US growth stocks, which contribute only minute amounts. Regarding portfolio dividend focus, there is a significant increase in Netlink BNB Trust. We are also trying out new counters like Comfortdelgro, Cent Accom Reit, and Alpha Integrated Reit (Sabana Reit).

Cory Diary

2025-11-16

CoryLogics Invest Chat - No Coin, No Porn, No Penny

Telegram CoryLogics <= Link to Telegram Chat

Telegram Cory Channel <= Link to Channel

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.

Cory Diary : Three Things You Must Avoid If You Want to Be Wealthy

1. Not Managing Your Own Money

When I was young, I wasn’t strong academically, nor did I show any leadership qualities.

Morally, going down the wrong path was never an option. So if I wanted to survive and succeed in this world, I had to learn how to manage my own finances.

To me, this advice is obvious — you must take control of your money. That includes managing your savings accounts, bill payments, monthly cash flow, and spending habits. Understanding where your money goes gives you control over your future.

That’s why I don’t trust “black-box” investments like Unit Trusts, Hedge Funds, Investment-Linked Policies (Insurance), or Private Investments. This isn’t to say that all of them are bad or unreliable — but I prefer not to put myself in a position where I can’t fully understand, manage, or monitor what’s happening to my money.

2. Listening to Stock Tips or Taking Advice from Bosses Whose Company Stocks Have Fallen

For most people, running a business isn’t our cup of tea — many lose both their money and valuable time. Investing in stocks is a more sensible path, while the other extreme — keeping everything in fixed deposits — almost guarantees that you won’t have enough for early retirement or old-age needs.

Personally, I’ve rarely had the chance to meet top executives, but even if I did, I wouldn’t take stock tips blindly. It’s simply not in my nature.

I prefer to do my own homework, dig around, and understand what I’m investing in. It amazes me how someone can save up US$100,000 over ten years, only to throw it into an investment within days without thinking. It just doesn’t make sense — perhaps they simply feel rich for a moment.

3. Going All In

This usually applies to younger investors who haven’t built enough savings yet. They tend to go all in on a single stock or asset.

Sure, they might get it right many times — but it only takes one mistake to lose everything. The recent crypto crash is a perfect example: some people leveraged 10x and ended up facing forced liquidation.

Final Thoughts

Wealth isn’t built overnight. It’s built through discipline, awareness, and control.

By managing your own money, ignoring blind tips, and avoiding reckless “all-in” bets, you give yourself the best chance to stay wealthy — not just get lucky once.

Cory Diary

2025-11-03

CoryLogics Invest Chat - No Coin, No Porn, No Penny

Telegram CoryLogics <= Link to Telegram Chat

Telegram Cory Channel <= Link to Channel

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.

Cory Diary : Family Expenses - Oct'25 Updated

Yesterday marked the final day that Rui will attend the nanny's care. This change will modestly reduce our overall costs while freeing up time previously spent transporting her back and forth in-between school and home.

A key clarification on our expense tracking: it excludes taxes and rental support. My assumption is that our income will comfortably cover these items, making them unlikely to become issues. With the primary objective for the retirement phase, our focus remains squarely on daily family essentials. This consistent methodology applies across all tracked expenses.

On a positive note, our lagging 12-month expenses continue to trend downward, reflecting ongoing efficiencies. See above.

That said, the average of the most recent five months shows an uptick. This indicates that short-term expenses may stabilize or begin to fluctuate unless additional adjustments are made.

Next Step, to monitor the change implication, if any.

Cory Diary

2025-11-1

CoryLogics Invest Chat - No Coin, No Porn, No Penny

Telegram CoryLogics <= Link to Telegram Chat

Telegram Cory Channel <= Link to Channel

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.