- For my dividend stocks, added Frasers Centerpoint for full position. Now ~43% invested (all in dividend stocks). The dividends are not yet enough to live off.
- For the remaining ~40% of my portfolio allocated to macro, half is in gold (AAAU) and TIPS (ETF). I consider these to be like cash. Small 2% position in COW.
My trades are recorded in my Investing Note account. This blog is for in-depth analysis. I am now working again after a short time off, so less time to post here.
I think we get a correction or crash soon. I'll look to add:
- BIP plus some Singapore REITs (MCT, FLIT).
- I think we get stagflation. If the market corrects, then stocks in gold miners, copper miners, oil producers and fertiliser/farming companies look interesting. Longer therm, my REITs should do OK in stagflationary periods (low interest rates and increasing nominal property prices, offset by lower rental demand).
Quick thoughts about inflation. There are 3 causes:
- Too much money printing. Like adding extra zeros to your currency. Zimbabwe.
- Too much demand. Overheating economy when production at full capacity. Not now.
- Supply constraints. Not enough investment (eg: finding new copper/oil reserves). Production cost increases (de-globalisation).
I don't know exactly what form the inflation will take, or how it will be transmitted through the economy. Too much detailed theory doesn't help you trade. I look to play it broadly through holding real estate (REITs), commodities or commodity producers, and things that don't devalue with paper currency (gold, TIPS). Residential housing may be another thing to consider.
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