In my first reflection post, I shared about my key learning this year. In second, its about strengthening my portfolio for passive income. This third one is about diversification beyond our local shores to reduce exposure risk. US & HK Markets Besides Singapore, the two key markets that I have sizeable positions are US and HK. US is because it is the largest free capitalist market and it provides the opportunity to invest in the biggest and/or the most innovative companies in the world. HK is because it is a familiar capitalist market where the rules of the games are well established and it is a key door to the larger China hinterland, which is the second largest economy in the world and still growing fast. At the start of 2020, the values of the US and HK shares, ETFs and Unit Trust that I hold was about 15% of my total equity. Today, it is 25%, a gain of 10% in a year, at the expense of STI companies :)....