Author: Financial Horse

INVEST Fair 2018

The folks over at ShareInvestor (a subsidiary of SPH) recently reached out to me regarding the marketing of INVEST Fair 2018. As readers may know, Financial Horse is a huge believer in the power of knowledge and the exposure to many differing points of view, and I’ve always believed that we are all the richer for it. So, I was very pleased to be able to help out in the publicity of INVEST Fair 2018. Basics: INVEST Fair 2018 INVEST Fair 2018 is an annual investor event organised by Share Investor, which is itself a subsidiary of SPH. To...

Read More

The Weekly Horse: “Smart” Money trades of 2018

Source: Getty Images I recently had the privilege of attending an investment talk hosted by a private bank for their clients. The talk was given by a bunch of people with really impressive sounding titles and fancy accents, so it was a fascinating experience. Halfway through the talk, I came to realize that what they were describing, was basically the “Smart” Money trades of 2018, ie. the consensus trades of the year. There are 3 ways to look upon such Smart Money trades: 1. This is the “Smart” money, if they say this, it is definitely true. If you...

Read More

Starhub Ltd: 9.4% Dividend Yield but still not a buy

Following my previous article on SingTel, a reader suggested to me that I should do a follow up article on Starhub and M1. When I saw her comment, I knew instantly that she was right. Reviewing SingTel in isolation without taking a corresponding look at Starhub and M1 would be an incomplete analysis. Basics: Starhub Starhub is one of 3 major telecommunications (telco) operators in Singapore, alongside Singtel and M1. Unlike SingTel, Starhub gets all of its revenue from Singapore. From their corporate website, they describe themselves as: StarHub is a leading homegrown Singapore company that delivers world-class communications,...

Read More

The Weekly Horse: Replacing Standard Chartered Online Trading with Saxo Capital Markets (Half year update)

Source: Standard Chartered I’ve been a massive fan of Standard Chartered Online Trading ever since they opened with their no minimum commission rule. Those were the glory days of stock trading, where Singapore had its very own answer to the Robin Hood App, by Standard Chartered no less! I remember taking up US$500 positions in tech stocks and flipping them at a profit a week after, all for a commission of US$1. The day that Standard Chartered removed the no minimum commission rule (and imposed a US$10 minimum commission) was a dark day indeed. Earlier this year, I wrote...

Read More

What to do with S$800,000 En-Bloc Proceeds at age 25?

Source: Readers Digest Following my previous En-Bloc article targeted at a home-owner in her 60s, I recently received this question: Hi Financial Horse, I am in a similar situation. I am getting a portion of the en bloc income which my parents will get from the en bloc sale of the condo we currently live in. I will be getting around 800k. Initially, I wanted to buy a condo as I thought private property was a good investment vehicle in Singapore, however that all changed after the Government released more tightening measures to clamp down on residential property investment....

Read More

The Weekly Horse: Top Links for the Week

Source: CNET The story of the week has got to be Facebook’s 20% drop in one day. I am sure everyone has their own take on it, but personally I felt the price drop was unwarranted. I don’t want to launch into a full discussion on it before I’ve had a chance to really look at the earnings call transcripts, but if I were to make a guess, I would say that the 20% drop has opened up a good buying opportunity for long term Facebook investors. I quite like this stock, so I may look to rotate some...

Read More

Nikko AM SGD Investment Grade Corporate Bond ETF: Why I will be skipping this

In my recent Astrea IV Bond article, I had a theory that MAS/Temasek was trying to expand the retail bond market in Singapore, with SSBs being the first limb and Astrea’s PE bonds being the second. Nikko AM’s latest corporate bond ETF, the “Nikko AM SGD Investment Grade Corporate Bond ETF”, sure looks like the third limb in this broader strategy. A recent Business Times article seems to confirm this point as well: The ETF manager, Nikko Asset Management Asia, has an AUM (assets under management) target of S$50 million for the fund. The Business Times understands that the...

Read More

The Weekly Horse: Is the Yield Curve still a reliable indicator of recessions?

Over the past week, I have heard the yield curve being mentioned 3 times. The first was for a board meeting for a listed company, which I suppose would represent sophisticated investors. The second was by a retail investor, who was musing over the impact of the impending yield curve inversion. And the third was by a colleague who did not invest at all, but was wondering what this “inversion” means for the economy. And suddenly, that got me very worried indeed. There’s a famous story about how Joseph Kennedy decided to sell all his stocks in 1929 when...

Read More

Singtel: Finally time to buy this 5.3% yielding telco?

In the recent Financial Horse Giveaway, I invited readers to make submissions of companies they wanted Financial Horse to review. Singtel was the first runner up, so without further ado, here is my take on Singtel! Basics:  What is Singtel? Singapore Telecommunications Limited (Z74.SI) is a Singapore teleco company that I am sure every Singaporean knows about. SingTel’s description of themselves in their factsheet is actually pretty good: The Singtel Group is Asia’s leading communications group with operations and investments around the world. With significant operations in Singapore and Australia (through wholly-owned subsidiary Singtel Optus), the Group provides a...

Read More

The Weekly Horse: Are Singapore Companies still competitive today?

Source: Financial Horse chillin in the Balkans As members of the Facebook Group will know, Financial Horse was in Europe for a holiday the past week, which is why there was a slowdown in “The Weekly Horse” posts. Accordingly I will take the opportunity in this article to round up all the top links since the last edition. Are Singapore companies still competitive? This week, I wanted to discuss the competitiveness of Singapore companies. In my trip to Europe, I flew Emirates (which I enjoyed almost as much if not more than SIA), I used a GiffGaff SIM Card...

Read More

Investing your way to a condo downpayment

Source: iProperty.com.sg I recently received this query from a reader (published anonymously with consent): Dear Financial Horse, I am writing to request for further assistance to building a diversified portfolio. I have read stock analysis and calculations of the US largest companies on the stock markets, I have no clue where to begin because of the ever-changing dynamics of the political and economic environment. I do not know the history/trend of their performance unlike experienced investors.  My reason for wanting to invest in securities is because I would like to save up enough to buy a condominium in five...

Read More

Where I get my Financial and Stock News from

Source: Thrive Global Being a successful long term investor requires an intimate and broad based understanding of how the world works. However, this is easier said than done. No one can develop such an understanding overnight, but in this article, I wanted to address a necessary pre-requisite to developing such an understanding: Reading the news. A lot of intelligent people, including Warren Buffett, have touted the benefits of reading.  I can’t guarantee you that reading the news will make you Warren Buffett, but what I can guarantee you, is that if you don’t read the news, you will never...

Read More

Lessons learnt from Micron

Source: thestreet.com Financial Horse is on the road this week, but I managed to find some time to hammer out this article. It’s a topic that’s very close to my heart, and one that I’ve been yearning to write for quite a while: The lessons that learnt from the emotional rollercoaster that is Micron. Micron was one of the first few shares I picked up when I was starting out in investing, all bright eyed and bushy tailed. It’s also one that taught me many valuable lessons as an investor. Basics: What is Micron? Micron Technology, Inc. (NASDAQ: MU)...

Read More

The Weekly Horse: Preparing for the next market crash

Source: CNN Money As many of you are aware, the US Federal Reserve recently raised interest rates by 0.25%, and projected another 2 rate hikes for the year. At the same time, the ECB announced that QE bond buying will halve to €15bn from €30bn per month from September 2018, end in December 2018, and interest rates will start going up in mid-2019. The US 2s10s Treasury yield curve has also fallen to its lowest point since 2007. In fact, a recent study by JP Morgan showed that the global yield curve has inverted for the first time since 2007. With financial stress starting to...

Read More

Guide to Dividend Withholding Tax for Singapore Investors

Source: 123rf.com When I first started investing in US stocks, withholding tax was one of the concepts that befuddled me. It didn’t help that there are very few sources of information out there dealing with withholding tax from a Singapore perspective. It took me many hours of digging to begin to grasp the extent of my tax obligations I’ve recently received a number of queries from readers about the full implications of withholding tax. With that in mind, I felt that it was an opportune time to take a closer look at withholding tax. It’s quite a taxing topic...

Read More

Like us on Facebook

Follow us on Twitter