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For the month of January, the stock markets drifted lower and continued to hover near the lows, as traders and investors speculated whether they would break new lows or start a rebound.
Fundamentally, nothing much has changed, and the outlook continues to be bearish. As such, I will not be adding any equity positions till I see a stronger bottom for the market. I am looking at 2,200 or 2,000 for the STI index.
As part of my defensive strategy, I have increased my holdings in Gold, which should act as a good hedge if the stock markets continue to head lower.
For my long-term capital appreciation strategy, I have also increased my holdings in Oil, as I foresee a possible rebound some time this year.
For my total assets, 9% was kept in Savings & Liquid Assets, 22% was Non-investment Assets, while the rest (69%) was used to build my investment portfolio.
For my investment portfolio allocation, there is a small amount in Fixed income (6%), slightly more in stocks (19%) and commodities (16%), and the rest was in cash (23%), Trading Accounts (17%) and Misc Investments (19%).
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Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.