Author: Got Money, Got Honey!

CIMB Showdown: FastSaver VS Step-Up Fixed Deposit

I think regular readers would know that I have a very strong liking for CIMB recently with their range of no-frill products. Their Step-Up Fixed Deposit has always been an interesting product to me. Basically, at the end of every month you can decide if you need to withdraw your money, and you would still get accrued interest instead of forfeiting in an event of a withdrawal. I like this key flexibility option. (2015 review of their 18 month Step-Up FD outdated) (2013 review of their 12 month and 5 year Step-Up FD outdated) Their recent FastSaver account is...

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[SGX Portfolio] September 2015 Update

As mentioned previously, this will be my attempt at having a monthly update of my SGX portfolio. I have also updated that page to include the historical growth of my portfolio. I find it personally encouraging to know I’ve come so far from where I started. Hopefully other people may be inspired and also decided to embark on their financial journey. “The journey of a million miles begins with a single step” Anyway, here are the current stats of the portfolio as of end September 2015. Total Cost     $19,602.90 Unrealized Gains -$1,788.97 Accumulated Dividends  $792.02 Realized Gains $628.89...

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[STI Statistics] September 2015

Hi all, this is my monthly post analyzing the STI. As of 30 September 2015 STI Closing Value: 2790.89 P/E Ratio: 11.18 P/B Ratio: 1.13 P/CF Ratio: 9.23 Dividend Yield: 3.4% Monthly Data Series from 2008 Mean P/E: 12.27 P/E Standard Deviation: 3.06 Mean P/B: 1.45 P/B Standard Deviation: 0.212 % of time when the STI is cheaper based on P/E: 36.03% % of time when the STI is cheaper based on P/B: 6.37% Comments The P/E and P/B ratios are finally on the same page regarding the index. Based on P/B, the STI is more than 1SD below...

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Singapore Savings Bond: Nov 2015, Nailed it?

This month’s new SSB is out (Nov 2015 issue) and the yields are…. pretty close to what I expected. (Actual November 2015 Issue Yields) On top of making an estimate using the full month end data, I also made an estimate using the data available from all the days from the beginning of the month until the last day to apply. As you can see, it isn’t that far off either. Moving forward, I think it is pretty safe to say that the SSB yield will be based on the average yield of the month before the application month,...

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Singapore Savings Bond: Guessing Next Month’s Yield (Nov 2015 issue)

Earlier this month, I wrote a post on why I think the next SSB issue will have a higher yield than the current issue. So since this is the end of the month, I went over to MAS and downloaded the statistics of the benchmark bond yield rates. As you can see, based on the average yields this month, one might expect close to a 20bps raise on the front end of the curve and 9 bps on the belly and 14bps on the tail end if the relationship of estimating the previous month’s average yield holds true. For...

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CIMB FastSaver: Account Opened

Wow, I applied for the FastSaver account online on the 24th and it was opened on the 28th! I did everything from the comfort of my computer! I am really loving CIMB! I have 2 accounts with them (FastSaver and my previous StarSaver) and I have never ever been down to any of their branches yet! Now I have the following decent yielding cash accounts: OCBC 360 @ 2.25% (up to $60,000) CIMB FastSaver @ 1.0% (up to $50,000) CIMB StarSaver @ 0.8% (up to $1,000,000? not sure!) Along with these 2 basket case accounts: DBS Remix @ 0.05%...

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Singapore Savings Bond: 100% allocation to all applicants

So much for people worrying if they wouldn’t get the full amount applied, eh?  It’s almost like a bad IPO, haha. From the recent MAS media release today, it is now known that the 1st virgin maiden issue was massively under-subscribed. If you check out the SSB maiden issue (Oct 2015), the amount available to be allocated is a staggering $1.2 billion. This issue was pathetically 34.6% subscribed. Only a total of $413,161,000 was applied for by a puny puny 19,505 applicants (or 3 out of every 1000 people you see in Singapore), and that works out to be...

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Never do something if you don’t have PASSION?

One of the worst advice that I really hate hearing is people saying that you should “always choose with your heart” and “if you don’t have the passion to do it, don’t do it”. Yes, I’m that downer friend that instead of immediately celebrating a choice, quiz about the alternative. This brings me back to a time when I was taking a piss in a pub in NYC. Scrawled on the bathroom door was the most legit advice that I’ve ever seen. “Don’t take life advice from people doing shit with theirs.” Word bruhhhhhh. Poetic words on a beautiful...

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Apply For The Oct 2015 SSB? No.

In my previous post, I highlighted how the current SSB might no longer be as attractive as future SSB issues since interest rates have moved up. The average for August’s yields proved to be a pretty accurate reflection of the SSB that was released at the start of September. If this relationship holds true, it means that the September average yields would be useful in predicting the yield of the next SSB if it was to be issued in November. I went to the MAS website and I extracted the month to date yields and here are the results...

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Apply For This Month’s SSB?

Chin Wai wrote a very good post about the SSB and how it is structured quite differently from normal bonds. In his post, he also posting his findings that the simple average August yields were very close to the posted SSB yield to be applied in September and issued in October. I’ve also gone to the MAS website to download the yields and calculated the simple average and compared it to the listed SSB simple yields. Now, this is pretty interesting if you can predict with some degree of accuracy what the next month’s yield would be! Similarly, doing the same calculation so...

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Let’s See My Insurance!

Inspired by this post by Derek, I have decided to list down my insurance and take a look at them! As you can see, my insurance is very simple and straight forward. I have term life insurance from the DPS scheme and also the AVIVA SAF GTL from my NS days. It was actually at $100,000 SA, but I felt that I am more valuable after working so I upped it to $200,000 then. This would be a nice gift to repay my parents whatever they have spent on me, which is mostly my university education. I have minimal...

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My Guess for the Fed Announcement

Original Post: 1.55am Post Announcement Update: 2.02am – No rate hike ;) Looking at my coconuts, I predict…. NO RATE HIKE! Well, let’s see if I’m right. Gundlach is behind me on this. My main reason for thinking this way? This article about the probability of rate hike. TL;DR, the probability is 30%. Let me just remind you again how many bad everyone is at guessing rate hikes. You can’t really blame them though, especially if the Fed always say that they are going to raise rates but never. “At zero, they can only go up!” “How long can...

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CIMB FastSaver: The 1% No-Frills Savings Account

This is the new online savings bank account that CIMB is currently offering. Basically, it is a simple, no-frills, cash savings account. 1% interest on the first $50,000 (SDIC-insured) 0.6% interest on balances above $50,000 No fall-below amount and fee Online application (no need to go down to branch or send forms) They are also having a promo now, which means if you put in the eligible cash amount, you will get the cash credit for keeping the money there for 6 months. This is on top of the 1% rate that you will receive.   For $1,000 put...

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Japan Downgraded from AA- to A+

(Source: CNA) Is this a surprise? Well, it isn’t to me given the fact that I think the Abenomics is a insane policy based on crazy Keynesian theories. (Go team Austrian economics!) Japan is so far down the rabbit hole, I don’t see how it’s possible for them to ever recover. Their debt is beyond crazy. Their demographics is worsening. They have a rich and beautiful culture, but is immensely tough to assimilate global workers into. Their language is not easy to pick up and is frankly, quite isolating for them. It’s not as if their domestic market is...

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Save money at all costs?

Without even knowing the full story, I am sure that the general audience that reads financial blogs will shout out “Save money!”. However, hear out my story first. In this hypothetical world, you want to buy some electronics. It could be anything these days, such as headphones, cables, keyboard, mouse, etc…. but for this example I’m just going to go with speakers. ———————————————————————————————————————- While browsing the internet, you see an ad for these speakers. You’ve actually been wanting to get a new set of speakers and had read about the benefits of this particular brand and model! You casually...

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