Almost 60% of the year is gone now. Looking back at the last few months, wow, what can I say except to exclaim that it has been an unusual year so far!

I don’t expect things to improve much in the remaining few months – in fact, I see more downsides than upsides.

Year to date, STI has declined 22%. With the bulk of my equity investment in the local stock market, my equity portfolio is deeply in the red, not different from STI.

I hate to contrast it with S&P500, which is almost back to the level where it started 2020. Somehow our STI did not enjoy any spillover effect from the US markets. It is probably a reflection of the severe impact that COVID-19 has on countries like Singapore which relies heavily on tourism and trade dollars.

Taking advantage of the sharp fall in the US and other global markets in March/April