So I was calculating my net worth allocation for the FH Net Worth tracker recently. And I was really surprised by the amount of cash I was holding. In fact, my cash + bonds position was more than half my total investible assets.

Now this was an intentional move because I feel we are very late in the credit cycle, so I wanted to increase my cash position and position more defensively. But still, I was taken aback by how much cash I was sitting on uninvested.

So I had a serious look at the various asset classes in Singapore, to decide where to allocate the excess cash. And that was when I started getting worried.

Simply put, many asset classes in Singapore right now, are looking pretty fully valued, especially given the macro climate we have.

But first, let’s take