Financial Horse @FinancialHorse Twitter profile

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Financial Horse

@FinancialHorse

9 months

Why I am buying REITs again. For the first time this cycle. I am starting to get more constructive (or should I say less bearish) on REITs. It comes down to 3 key reasons for me:

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Financial Horse

@FinancialHorse

8 months

SDIC insurance limit raised to $100k. Up from the current $75k. I like this move a lot. From a consumer point of view, any money I put in a deposit account with a bank in Singapore should be risk free. Having to do due diligence to figure out if the bank is going to go under…

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Financial Horse

@FinancialHorse

7 months

Great post. Under the surface, jobs are starting to weaken.

Joseph Brown

@heresyfinancial

7 months

Here’s what the mainstream doesn't want you to know about todays "blowout" jobs report There are actually 2 different jobs reports, and they tell very different stories about the economy. 🧵👇🏼 The first one is the one that is making all the headlines: 336,000 new jobs added.…

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Financial Horse

@FinancialHorse

8 months

Lendlease REIT pays 8.5% dividend yield – Will I buy this REIT? (down 40% from highs)

Lendlease REIT pays 8.5% dividend yield – Will I buy this REIT? (down 40% from highs) | Financial...

The price action is an absolute disaster. $0.60 is a key support level that goes back to 2020. Over the past few weeks, Lendlease REIT broke below that key support – which is never pretty.

financialhorse.com

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Financial Horse

@FinancialHorse

8 months

Look at that move on the SG 10 Year Yield. 3.43%. Above Jan 23 levels, nearing 22 peak. Bad for REITs, but next month's SSBs will be quite juicy!

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Financial Horse

@FinancialHorse

8 months

SGX considering changes to regulatory limits for S-REIT gearing. I actually really like this idea. Many REITs are in a catch-22 today. They cannot take on more debt (regulatory limits), and cannot raise equity because share price is too low. Tweaking the leverage is a simple…

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Financial Horse

@FinancialHorse

9 months

Everyone was bullish on REITs last year while I was bearish. Now that everyone is bearish, it may be time to change my mind... 😅

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Financial Horse

@FinancialHorse

8 months

Top 3 REITs I will buy in the next 12 months. As a Singapore Investor in 2023. (Blue Chip REITs only)

Top 3 REITs I will buy in the next 12 months – as a Singapore Investor in 2023 (Blue Chip REITs...

I’ve been getting a lot of questions about blue-chip REITs recently. The REITs from Mapletree, CapitaLand, Frasers etc. Prices of the blue-chip REITs have not dropped as much as the smaller REITs, so...

financialhorse.com

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Financial Horse

@FinancialHorse

6 months

Latest results from URA tender. Toa Payoh site winning bid was $1360 by CDL / Frasers Consortium. $1360 + $400 construction cost (probably fair in today's climate) = $1760. Add on 15% sales & marketing expenses, you get $2024. Throw in 10% developer profit, realistically…

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Financial Horse

@FinancialHorse

9 months

Why I am buying REITs again – at 7% dividend yields (as a Singapore Investor in 2023)

Why I am buying REITs again - at 7% dividend yields (as a Singapore Investor in 2023) | Financial...

So as regular readers will know, I have been bearish and underweight REITs for much of this hiking cycle. But at this point in the cycle. I am starting to get more constructive (or should I say less...

financialhorse.com

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Financial Horse

@FinancialHorse

7 months

OCBC Bank pays a 6.15% dividend yield – Better Buy than DBS or UOB Bank? Will I buy Singapore banks in 2023?

OCBC Bank pays a 6.15% dividend yield – Better Buy than DBS or UOB Bank? Will I buy Singapore banks...

There were a lot of questions on OCBC, and how it compared to DBS and UOB. A lot of retail investors also seem to think that OCBC is “cheaper” than DBS and UOB, and therefore a better buy. So I...

financialhorse.com

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Financial Horse

@FinancialHorse

8 months

How I will Invest $100,000 in REITs – at a 7% dividend yield (as a Singapore Investor)

How I will Invest $100,000 in REITs – at a 7% dividend yield (as a Singapore Investor) | Financial...

I am curious, could you do an article on the Sreit leaders index? Forecast on where it will go in the next 2-3 years? I hold a significant position via syfe reit+ portfolio as i didnt want to dabble...

financialhorse.com

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Financial Horse

@FinancialHorse

9 months

Why I don't think REIT prices have bottomed yet. In yesterday's tweet I shared why I am interested to add to REIT positions in the months ahead. That said, I dont think REIT prices have bottomed yet Here's why:

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Financial Horse

@FinancialHorse

8 months

Very similar to what I've been hearing in SG. Economy may slow the next 12 - 18 months.

Jared Dillian

@dailydirtnap

8 months

I'm the qualitative guy, not the quantitative guy, and I've been spending the last two months collecting stories and anecdotes on how the economy is croaking. I have 4,000+ subscribers to TDD, from a range of industries, and they're all saying the same thing: look out below. 1/n

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Financial Horse

@FinancialHorse

7 months

S-REITs earnings bonanza over the next few days! Lots of big names from Mapletree, CapitaLand, Frasers all reporting. Will earnings hold up despite higher interest rates, and a slowing economy?

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Financial Horse

@FinancialHorse

7 months

Turns out this round of Singapore Savings Bonds are quite hot. Oversubscribed for the first time in 2023. $47,000 allotment per person.

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Financial Horse

@FinancialHorse

9 months

Good take on Shopee (Sea). Tldr - they should have focussed on building a fulfilment network across SEA to solidify their moat... back in 2021

Brian Stoffel

@Brian_Stoffel_

9 months

Want to know why $SE is down 25% today? It's actually simpler than you think...⤵️

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Financial Horse

@FinancialHorse

8 months

Why a hard landing may be more likely than what the market is pricing in. Great thread.

Warren Pies

@WarrenPies

8 months

The market is priced for a soft landing. Powell talking soft landing. This week @NickTimiraos wrote a nice summary of soft landing obstacles. Maybe the Fed manages to pull it off, but here are a few things that argue a hard landing is more likely. Via @3F_Research

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Financial Horse

@FinancialHorse

7 months

Mapletree Pan Asia Commercial Trust drops to 7 year lows. Will I buy this REIT at 6.4% dividend yield?

Mapletree Pan Asia Commercial Trust drops to 7 year lows – Will I buy this REIT at 6.4% dividend...

The charts are not pretty. At current price of $1.36, this Mapletree REIT is down: 38% from the post-COVID high, 44% from pre-COVID high

financialhorse.com

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Financial Horse

@FinancialHorse

7 months

Why did REIT prices drop this week? 6.3% dividend yield for Ascendas REIT, CICT a great buy? (as a Singapore Investor)

Why did REIT prices drop this week? 6.3% dividend yield for Ascendas REIT, CICT a great buy? (as a...

You may have noticed the big drop in REIT prices this week. For example, here’s Ascendas REIT with a big weekly plunge from 2.70 to 2.48. That’s back to the lows hit in late 2022, and close to the...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Next T-Bills Auction on 18 Jan! Apply by 9pm on 17 Jan (cash applications). 3 questions that I wanted to address: 1. What is the estimated yield? 2. Are T-Bills still attractive? 3. Buy 12 month T-Bill instead?

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Financial Horse

@FinancialHorse

9 months

Singapore Savings Bonds at 3.06% yield are a pretty decent buy – If interest rates go down in 2024? Compared vs T-Bills and Fixed Deposit

Singapore Savings Bonds at 3.06% yield are a pretty decent buy – If interest rates go down in 2024?...

I know Singapore Savings Bonds are no longer that exciting when: T-Bills are paying 3.75% GXS Bank is paying 3.48% for a bank account Fixed Deposits are paying 3.5%ish But do note that all 3 of the...

financialhorse.com

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Financial Horse

@FinancialHorse

8 months

China back to what it's most familiar with. Debt driven infrastructure spending.

Michael Pettis

@michaelxpettis

8 months

1/4 "To spur infrastructure-fuelled economic growth in the face of a property-market crisis and mounting debt pressure," SCMP writes, "local governments across China are expected to use up a record annual quota on special-purpose bond sales."

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Financial Horse

@FinancialHorse

6 months

Not enough demand for US Treasuries... US needs to cut spending, or long term rates will start causing problems.

The Kobeissi Letter

@KobeissiLetter

6 months

Today, at 1 PM ET the entire stock market turned lower. What happened? The 30-year bond auction drew 4.77% which was above the presale numbers by ~5 bps. In other words, the auction performed far worse than expected as inflation worried persisted. This was perceived as a sign…

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Financial Horse

@FinancialHorse

1 year

How I see the next 5 to 10 years playing out – And how I will invest as a Singapore investor?

How I see the next 5 to 10 years playing out - And how I will invest as a Singapore investor? |...

We’ve been doing a lot of short term focussed macro pieces recently. A lot of the investing in 2022 / 2023 is just one big metagame of predicting where inflation will go and how will the Feds be...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Next T-Bills Auction on 21 Dec – Estimated yield of 4.2% – 4.3%? Better buy than Singapore Savings Bonds and Fixed Deposit?

Next T-Bills Auction on 21 Dec – Estimated yield of 4.2% – 4.3%? Better buy than Singapore Savings...

The last T-Bills auction closed at a mind blowing 4.4% yield, which was the highest in over 34 years of Singapore history. At 4.4% yield, I think T-Bills are a great buy and I would happily add more....

financialhorse.com

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Financial Horse

@FinancialHorse

7 months

This is S&P500 earnings yield - 3 month T-Bills yield. A proxy for equity risk premium. By this metric stocks are the most overvalued since the Dot Com bubble! Of course, valuations are not an indication on timing. But it gives you an idea where we are in the cycle.

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Financial Horse

@FinancialHorse

1 year

Mercatus bought Jurong Point at $2.2 billion back in 2017... 5 years later... they're selling at $1.988 billion to Link REIT.... Either (1) Mercatus overpaid in 2017, or (2) Commercial Real Estate valuations are dropping...

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Financial Horse

@FinancialHorse

3 years

China’s Evergrande Explained: Is this China’s Lehman moment? Sell China stocks?

China’s Evergrande Explained: Is this China’s Lehman moment? Sell China stocks? | Financial Horse

A lot of you may have seen the news about homebuyers protesting at Evergrande offices in China this week. Evergrande’s debt issues have been well known for a long time, but things really started...

financialhorse.com

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Financial Horse

@FinancialHorse

7 months

6-month T-Bills yields jump to 4.07% – Why the huge move in interest rates? Demand for T-Bills plunge? (28 Sep 2023 Auction Results)

6-month T-Bills yields jump to 4.07% - Why the huge move in interest rates? Demand for T-Bills...

At 4.07% - this is the second highest T-Bills yield in all of 2023 (the highest was 4.2% in early Jan). And if you remember, things were very different back in Jan, with OCBC offering 4.08% on their...

financialhorse.com

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Financial Horse

@FinancialHorse

8 months

Big tick up in MAS Bills yesterday. Wonder if we will see this flow through into the 6 month T-Bills. Linked to China volatility?

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Financial Horse

@FinancialHorse

7 months

How to generate $50,000 dividend income a year – 43 year old investor with $730,000 cash

How to generate $50,000 dividend income a year – 43 year old investor with $730,000 cash | Financ...

43 years old male, married with two kids. Zero debt. Paid off residential mortgage some six years back. Has 730,000 sgd cash- 650k in fixed deposit this year earning 27k interest for this year....

financialhorse.com

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Financial Horse

@FinancialHorse

10 months

Keppel REIT pays a 6.8% dividend yield – Why I am buying this Office REIT

Keppel REIT pays a 6.8% dividend yield – Why I am buying this Office REIT | Financial Horse

I’ve been wanting to do a deep dive into Keppel REIT for a while now. At current prices ($0.87), Keppel REIT trades at a 33% discount to book, and a trailing dividend yield of 6.8%. It’s also close...

financialhorse.com

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Financial Horse

@FinancialHorse

9 months

Great thread. Generally looks like the economic slowdown will hit around Q4 23 - Q1 24. How deep it will hit remains to be seen. And don't forget 2024 is an election year.

Bob Elliott

@BobEUnlimited

9 months

It takes a combo of dynamics to bring recession, many of which will likely come together in the next 6m or so. 1) late cycle 2) weakening of cyclical sectors 3) monetary, fiscal and/or market tightening 4) added drag (like weak foreign demand) That combo emerging now. Thread.

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Financial Horse

@FinancialHorse

6 months

How would I invest $100,000 in REITs / dividend stocks today? (as a Singapore Investor in 2023)

How would I invest $100,000 in REITs / dividend stocks today? (as a Singapore Investor in 2023) |...

Let’s say I own no REITs or dividend stocks today. And you gave me $100,000. And gun to my head, I have to invest all of that money. How would I do it?

financialhorse.com

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Financial Horse

@FinancialHorse

10 months

Top 3 High Yield REITs I will buy in 2023 – 7% dividend yield minimum (as a Singapore Investor)

Top 3 High Yield REITs I will buy in 2023 – 7% dividend yield minimum (as a Singapore Investor) |...

Given that we are getting close to peak interest rates. And given that economic growth (and inflation) is likely to slow further in the next few quarters. The headwinds for REITs today are no longer...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Credit Suisse bought over by UBS: AT1 Bondholders wiped out – Will this trigger systemic risk? I’m not going to mince words. I thought the bailout was very poorly done.

Credit Suisse bought over by UBS: AT1 Bondholders wiped out - Will this trigger systemic risk? |...

As I’m sure all of you have heard by now. We finally have a conclusion to the Credit Suisse saga. Because UBS has agreed to buy out Credit Suisse, supported with a liquidity backstop from the Swiss...

financialhorse.com

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Financial Horse

@FinancialHorse

8 months

How I will Invest $100,000 in REITs – at a 7% dividend yield (as a Singapore Investor) I received a very interesting question from a reader recently: Hi FH Thank you for your analysis of T-bills and REITs. I feel your analysis is grounded in reality as compared to other…

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Financial Horse

@FinancialHorse

9 months

China’s “Lehman” moment is here – Is this the REIT / Stock buy of the decade?

China’s “Lehman” moment is here – 9.6% dividend yields, is this the REIT / Stock buy of the decade?...

You know how everyone regrets not buying more in 2008? They say that if 2008 ever comes around again, they will go “all-in”. And when 2008 actually comes around again. Everybody is rushing to sell to...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Next T-Bills auction is on 5 Jan 2023! Cash applications should go in by 9pm on 4 Jan. What yield are we likely to see? Let's try to predict...

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Financial Horse

@FinancialHorse

1 year

Why I think a Recession is coming – How to invest as a Singapore investor? You know how Stanley Druckenmiller always talks about how he can change his mind completely once new data comes to light?

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Financial Horse

@FinancialHorse

6 months

SGX listed US and UK office REITs jump 54% (!) in November. Is this the bottom... or a dead cat bounce?

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Financial Horse

@FinancialHorse

1 year

Let’s say you gave me $1 million tomorrow. And told me to invest the money immediately, for myself, the only rules being: No Short-Term Trading (Buy and Hold favoured) My personal risk appetite (moderate risk)

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Financial Horse

@FinancialHorse

7 months

Interesting article from the BT on Lendlease (the sponsor of Lendlease REIT). Is the sponsor running into difficulties?

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Financial Horse

@FinancialHorse

8 months

Top 1% net worth by age. How accurate is this, in the SG context?

Cade Invests

@cadeinvests

8 months

Top 1% net worth by age. Pretty impressive numbers.

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Financial Horse

@FinancialHorse

9 months

China’s “Lehman” moment is here – Is this the REIT / Stock buy of the decade? You know how everyone regrets not buying in 2008? They say that if 2008 ever comes around again, they will go “all-in”. And when 2008 actually comes around again. Everybody is rushing to sell.

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Financial Horse

@FinancialHorse

6 months

Massive rally for REITs across the board today. Look at that move on the SG 10Y. Down 0.15% today alone - to below 3%! Largely driven by last night's soft CPI. Market is now pricing in rate cuts as early as Jan 24! Is this the bottom for REITs?

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Financial Horse

@FinancialHorse

6 months

How to get 6% dividend income (as a passive investor in Singapore)

How to get up to 6% p.a. dividend income as a passive investor (United SG Dynamic Income Fund...

I’ve been doing a lot of thinking about dividend investing recently. As you would recall, a couple of weeks ago a reader wrote in with the following situation: 43 year old male, married with 2 kids...

financialhorse.com

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Financial Horse

@FinancialHorse

8 months

The other side of the story - growth to reacclerate in the months ahead. I don't agree with this view, but it would be foolish to say this is impossible as well. Time will tell.

Jack Farley

@JackFarley96

8 months

How @biancoresearch sees things playing out: - No imminent recession on the horizon... "no landing" for the U.S. economy is much more likely than a "hard landing" or even a "soft landing" - Inflation will continue to reaccelerate as oil surges and core price pressures remain…

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Financial Horse

@FinancialHorse

7 months

6-month T-Bills yields jump to 3.95% Big drop in demand for T-Bills (26 Oct 2023 Auction Results)

6-month T-Bills yields jump to 3.95% - Big drop in demand for T-Bills (26 Oct 2023 Auction Results)...

T-Bills auction results are out! As a reminder, 2 auctions ago the T-Bills cut-off yields went as high as 4.07%. This led in a surge in application amounts for the previous auction (58% increase in...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Manulife REIT property valuation plunges by 10.9%... Manager says it's due to (1) higher cap rates, (2) weakening performance in US submarkets. I've been talking about how real estate valued in an era of 0% interest rates, don't make sense at 5% rates...

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Financial Horse

@FinancialHorse

1 year

Of all the 2023 outlooks I've read so far... Prob like Blackrock's the most. 3 key takeaways for me:

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Financial Horse

@FinancialHorse

1 year

Digital Core REIT pays a 9.5% trailing dividend yield. 50% discount to book value. Down 65% from all time highs. For a Data Centre REIT. Is is a good buy at this price?

Digital Core REIT pays a 9.5% dividend yield – Will I buy this Data Centre REIT? | Financial Horse

As long time readers may recall, I bought a position in Digital Core REIT at IPO. I then sold it for a 20-30% profit post IPO. Since then, the share price has collapsed 65%. At latest price of...

financialhorse.com

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Financial Horse

@FinancialHorse

11 months

Mapletree Industrial Trust pays a 6.3% dividend yield – Will I buy this Data Centre REIT?

Mapletree Industrial Trust pays a 6.3% dividend yield – Will I buy this Data Centre REIT? |...

I’ve been getting quite a few questions on Mapletree Industrial Trust recently. A data centre REIT, sponsored by Mapletree, with a 6.3% dividend yield – what’s not to like right? I myself hold a...

financialhorse.com

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Financial Horse

@FinancialHorse

2 years

Interesting thread on SG home prices

Thea L 🦊

@foxglobalinvest

2 years

A well-establish real estate agent I spoke to today confirmed my suspicion that property rental and sale asking & transacted prices have been ⬆️⬆️ in SG. Most recently there has been a net inflow of expats from Indian, China, Hong Kong and even Europe. 1/n

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Financial Horse

@FinancialHorse

7 months

Israel-Hamas Conflict – How will this impact financial markets?

Israel-Hamas Conflict - How will this impact financial markets? | Financial Horse

The immediate impact of the Israel Hamas conflict of course is more volatility for oil. The Middle East collectively controls about 30% of global oil supply, so any volatility in the Middle East is...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Great post on whether you should buy the Fed last rate hike. Spoiler alert - it depends on whether we get a hard or soft landing

The Spread Thread

@SpreadThread1

1 year

I’ve seen several charts showing markets usually rally after the last rate hike. The rationale- during the pause markets can dream of a better liquidity backdrop and only a modest slowdown. But the question is how long can markets dream? Context is key 1/8

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Financial Horse

@FinancialHorse

10 months

Grab Digital Bank pays 3.48% yield on $75,000 cash. No lock up, no minimum amount. Better buy than Fixed Deposit and T-Bills and Singapore Savings Bonds?

GXS Account Review - 3.48% yield on $75,000 cash, No lock up, No minimum, Better buy than Fixed...

It might not have been an action-packed week for finance, but it sure was for Singapore politics (if you get what I mean????). Beneath all that drama, you might be forgiven for having missed the...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Singapore Savings Bonds yielding 3.15% suddenly a must buy? – With Interest Rates going down?

Singapore Savings Bonds yielding 3.15% suddenly a must buy? – With Interest Rates going down? |...

Did the April 2023 Singapore Savings Bonds suddenly become a very attractive buy? You can lock in 3.15% returns risk free for the next 10 years, and get the money back any time within the 10 years....

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Hot CPI print - core cpi came in at 0.5% mom. Most likely feds will do a 0.25% hike next week. 0.5% not impossible but may not make sense given market volatility.

US Core CPI Tops Estimates, Pressuring Fed as It Weighs Hike

Underlying US consumer prices rose in February by the most in five months, forcing a tough choice for Federal Reserve officials weighing still-rapid inflation against banking turmoil in their next...

www.bloomberg.com

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Financial Horse

@FinancialHorse

1 year

Keppel Infrastructure Trust pays a 7.5% dividend yield – Why I am buying this REIT

Keppel Infrastructure Trust pays a 7.5% dividend yield – Why I am buying this REIT | Financial Horse

Okay first off – my apologies. Quite a few of you have asked for my views on Keppel Infrastructure Trust back when they were doing a rights issue (a few weeks ago). I had promised to do an article...

financialhorse.com

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Financial Horse

@FinancialHorse

9 months

Exactly this. Been saying for a while that rising rates is not the tail risk here. It is a rising USD.

The Mad King

@TheKingCourt

9 months

Watch the $US very carefully, it is about to strike. This is the $US against 24 currencies. Breaking support would mean DXY will test 113 again, and from here anything is possible.

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Financial Horse

@FinancialHorse

11 months

Latest auction results for the 6 month T-Bills are out! Cut-off yields jumped to 3.89% (from 3.84% the previous auction). But look under the surface and you’ll find that investor demand for T-Bills is dropping.

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Financial Horse

@FinancialHorse

1 year

When I looked at the latest T-Bills auction results. With cut-off yields dropping from 3.85% to 3.75%. And application amounts rebounding strongly from $9.5 billion to $12.3 billion. It occurred to me that this was exactly what you guys predicted:

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Financial Horse

@FinancialHorse

8 months

Will I still buy T-Bills at 3.70% yield? For CPF-OA or Cash Buyers? Compared vs Fixed Deposit, Singapore Savings Bonds, Chocolate Finance (Next Auction on 14 Sep)

Will I still buy T-Bills at 3.70% yield? For CPF-OA or Cash Buyers? Compared vs Fixed Deposit,...

Now T-Bills yields have been very disappointing of late – closing at 3.70% the last auction. And based on market conditions it doesn’t look like this will change materially for the current auction. 3...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Best Fixed Deposit rates in Singapore yield 4.08% Better than T-Bills and Singapore Savings Bonds for cash investments? (February 2023)

Best Fixed Deposit rates in Singapore yield 4.08% - Better than T-Bills and Singapore Savings Bonds...

As of today, the best Fixed Deposit in Singapore pays 4.08%. Whereas the latest 6 month T-Bills closed at 3.93% yield. Which means that if you want the highest short term yield on your cash – fixed...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

The Fed “Pivot” is here – Time to buy stocks and REITs?

The Fed “Pivot” is here – Time to buy stocks and REITs? | Financial Horse

Okay, so Wednesday’s FOMC was really, really important. To the point where it requires a full article on it. We spent all of 2022 talking about a Fed pivot, when it will come, and what to buy when...

financialhorse.com

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Financial Horse

@FinancialHorse

10 months

Was I wrong about the Recession? Time to buy stocks? (as a Singapore Investor in 2023)

Was I wrong about the Recession? Time to buy stocks? (as a Singapore Investor in 2023) | Financial...

As you would have noticed of late, a lot of analysts are no longer expecting a US recession in 2023/2024. As US markets continue their march upwards, most bears have capitulated and are talking...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Why I sold more stocks this week – Is Recession coming?

Why I sold more stocks this week – Is Recession coming? (as a Singapore Investor in 2023) |...

The last time I sold stocks in a big way was in Jan 2022. Well – this past week I started selling stocks again. And I do see myself selling more stocks over the next 1 – 2 months. So I wanted to...

financialhorse.com

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Financial Horse

@FinancialHorse

9 months

Shopee (Sea Ltd) reported their quarterly earnings last week. And boy… their share price was absolutely clobbered. Down 29% that night night alone. Was the sell-off justified though? Here's what I found.

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Financial Horse

@FinancialHorse

10 months

Why I think Interest Rates are going up again? Singapore Savings Bonds at 2.99% yield a decent buy for long term investors? T-Bills yields jump to 3.99%

Why I think Interest Rates are going up again - Singapore Savings Bonds at 2.99% yield a decent buy...

If you haven’t been following the interest rates space closely, you might have missed the huge moves in interest rates the past 2 months. Just 2 months ago, the market was pricing in 4 rate cuts in...

financialhorse.com

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Financial Horse

@FinancialHorse

9 months

Alternative take on why Sea $SE is a good buy after the sell off. Even if you disagree, always good to understand both sides of the story. Time will tell who is right.

simple investing

@simpleinvest01

9 months

I have read all the reports, looked into the 2Q23 earnings, listened in to the earnings call and had a 1 on 1 call with management. Here's why I am buying Sea Limited $SE today and why I think the company looks attractive today: 1. Pivot to growth mode in e-commerce. One of…

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Financial Horse

@FinancialHorse

6 months

Keppel DC REIT pays a 6% dividend yield. Will I buy this REIT after its 25% drop?

Keppel DC REIT pays a 6% dividend yield – Will I buy this REIT after its 25% drop? | Financial Horse

Keppel DC REIT is one of those REITs that I know a lot of Singapore investors love. But me – I never really saw the appeal of this data centre REIT. I always found Keppel DC REIT to be very richly...

financialhorse.com

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Financial Horse

@FinancialHorse

6 months

YouTrip Review – Best Card for Overseas Travel? I am a big fan!

YouTrip Review – Best Card for Overseas Travel? I am a big fan! | Financial Horse

I’ve heard a lot of rave reviews about YouTrip. Almost everyone I know that used YouTrip on an overseas trip seems to love it. So in my recent trip to Indonesia, I finally decided to give YouTrip a...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

What is the impact of this round of ABSD changes on Singapore House prices?

Higher ABSD – How will this impact Singapore house prices? | Financial Horse

As you guys have probably heard by now, ABSD (Additional Buyer Stamp Duty) rates have gone up yet again. You can see the changes summarised below. Singapore Citizens buying a second home now pay...

financialhorse.com

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Financial Horse

@FinancialHorse

2 years

T-Bills at 3.32% yield - Better buy than Singapore Savings Bonds / Fixed Deposit? Where am I putting my cash?

T-Bills at 3.32% yield - Better buy than Singapore Savings Bonds / Fixed Deposit? Where am I...

I’ve been getting quite a few questions on T-Bills recently. The latest T-Bills yield 3.32%, absolutely risk free. And with the latest Fed rate hikes, the next round of T-Bills (auction on 29 Sept)...

financialhorse.com

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Financial Horse

@FinancialHorse

10 months

Big drop in births, big rise in deaths in 2022...

Smartkarma

@smartkarma

10 months

Singapore Population - WTH happened in 2022??? - births down 8pc YoY to just 35k! - meanwhile deaths up a whopping 10.7pc YoY; highest No since 1960!!! - cancer & heart disease remain the leading causes of death at 49pc of total - lung & resp at 22pc were next in line. 😱

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Financial Horse

@FinancialHorse

7 months

Gen-X banker on why he switched from trading to investing... and bought the WallStreetBets bubble Interview with Chris Lum (Saxo Regional Head)

Gen-X banker on why he switched from trading to investing, and bought the WallStreetBets bubble:...

Here at Financial Horse, we’re all about investing intelligently to achieve your long-term financial goals. And what better way to get inspired, than looking at how a professional investor – invests...

financialhorse.com

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Financial Horse

@FinancialHorse

7 months

Singapore Savings Bonds pay 3.32% yield – Buy now, or wait for higher yields?

Singapore Savings Bonds pay 3.32% yield – Buy now, or wait for higher yields? | Financial Horse

2 questions I wanted to address in today’s article: Are Singapore Savings Bonds a good buy? Should you buy Singapore Savings Bonds now or wait for higher yields?

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

In an inflationary bust, hold cash, sell stocks. In an inflationary boom, buy cylicals and commodities, sell govt bonds.

Wifey

@WifeyAlpha

1 year

Mapping The Four Quadrants (2007) How Long Can Goldilocks Last (2007) GaveKal Research 🤔🤔

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Financial Horse

@FinancialHorse

8 months

I am buying Singapore Savings Bonds at 3.16% yield – What is the best way to buy and redeem SSBs?

I am buying Singapore Savings Bonds at 3.16% yield – What is the best way to buy and redeem SSBs? |...

Singapore Savings Bonds are starting to get interesting again! With the rise in 10 year Singapore Government Bond yields (which SSBs track). The latest Singapore Savings Bonds yield 3.16% over 10...

financialhorse.com

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Financial Horse

@FinancialHorse

7 months

6-month T-Bills Auction on 12 Oct – Will interest rates stay at 4.07%? What is the estimated yield? Still worth buying vs Singapore Savings Bonds or Fixed Deposit?

6-month T-Bills Auction on 12 Oct – Will interest rates stay at 4.07%? What is the estimated yield?...

After last auction’s T-Bills came in at a whopping 4.07% yield. I think it’s safe to say that investor interest in this T-Bills auction is going to be very strong. Will we see interest rates stay at...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Frasers Centrepoint Trust is buying Nex! Was going through the announcement, 3 key takeaways.

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Financial Horse

@FinancialHorse

1 year

Latest T-Bills issued at 4.20% yield! Slightly on the low side, was expecting 4.3% - 4.4% (I applied 4.3%). Diving into the numbers...

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Financial Horse

@FinancialHorse

9 months

Interesting move with SGS yields. 6 month yields are on a downtrend (closed at 3.73). 10 year yields are on an uptrend (closed at 3.27). This is a bear steepning - usually occurs when investors are concerned about inflation or a bearish stock market in the short-term.

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Financial Horse

@FinancialHorse

1 year

As you have probably heard by now, ABSD (Additional Buyer Stamp Duty) rates have gone up yet again. Singapore Citizens buying a second home now pay 20% ABSD (up from 17%). And the big one – Foreigners buying property now pay 60% ABSD (up from 30%).

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Financial Horse

@FinancialHorse

11 months

Unless you’ve been living under a rock the past few months, you’ve probably already heard of the “buy T-Bills with CPF-OA” trick. The logic goes like this. CPF-OA pays 2.5% after the first $20,000. Latest 6 month T-Bills pay 3.84%.

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Financial Horse

@FinancialHorse

1 year

How I will invest $1 million in 2023’s market crash (as a Singapore Investor)

How I will invest $1 million in 2023's Market Crash (as a Singapore Investor) | Financial Horse

It’s been a while since I did a macro post on Financial Horse. I’ve also been getting quite a few queries on how to invest as a long term investor. So let’s remedy that today. 4 Stages to a...

financialhorse.com

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Financial Horse

@FinancialHorse

6 months

Have REIT prices bottomed for 2023 / 2024? Would I buy or sell REITs now? (as a Singapore Investor)

Have REIT prices bottomed for 2023 / 2024? Would I buy or sell REITs now? (as a Singapore Investor)...

As you may have noticed, there was a huge jump in REIT prices this week. Many of you have reached out to ask whether REIT prices have bottomed, and whether we have “missed the boat”. I also received...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

T-Bills Auction on 13 April – Expected yield of 3.8 – 3.9%? Better buy than Fixed Deposit, Singapore Savings Bonds? Must buy with CPF-OA?

T-Bills Auction on 13 April – Expected yield of 3.8 – 3.9%? Better buy than Fixed Deposit, Singap...

I’ve been getting quite a few questions on the expected yield for the next round of T-Bills. Interestingly – this month will see not just the 6 month T-Bills, but also the 12 month T-Bills. 3 key...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

Investing, like life, is never fair. That doesn't mean you quit and don't play at all. Learn to identify your strengths, and play to them.

10-K Diver

@10kdiver

1 year

1/ Get a cup of coffee. In this thread, I'll walk you through "Gambler's Ruin". This is a classic exercise in probability theory. But going beyond the math, this exercise can teach us a lot about life, business, and investing.

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Financial Horse

@FinancialHorse

6 months

This is interesting - Consumer seems to be worse off today than last year. OCBC survey. 46% say they have at least 6 months of monthly salary. Down 7% from 2022!

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Financial Horse

@FinancialHorse

11 months

How I will invest $1 million at a 6% dividend yield in 2023? (as a Singapore Investor)

How I will invest $1 million at a 6% dividend yield in 2023? (as a Singapore Investor) | Financial...

I received this question from a Patreon recently: Hello FH, any recommendations regarding a diversified dividend portfolio to hold and grow over time to generate cash flow for retirement. What to...

financialhorse.com

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Financial Horse

@FinancialHorse

1 year

How would I invest it tomorrow, without knowing exactly how the next 12 – 24 months will play out?

How I will invest $1 million in 2023’s “Recession” (as a Singapore Investor) | Financial Horse

Let me just put it out there and say that this is one of the hardest markets to invest in for a while. Even investing greats like Stanley Druckenmiller are coming out to say that they have no clue...

financialhorse.com

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Financial Horse

@FinancialHorse

10 months

1 year T-Bills auction on 27 July – Estimated yield of 3.65%? Good buy for CPF-OA buyers, but not for cash buyers?

1 year T-Bills auction on 27 July – Estimated yield of 3.65%? Good buy for CPF-OA buyers, but not...

As regular readers will know, unlike 6 month T-Bills which come by every 2 weeks or so. 1 year T-Bills are quite rare – there are only 4 a year. The next 1 year T-Bill auction is coming up on 27...

financialhorse.com

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Financial Horse

@FinancialHorse

9 months

They tell you roughly where you are in the cycle, but they don’t help you identify the turning point. For that technical analysis is more useful. In Part II of this tweet, will share more on why I don't think REITs have bottomed. Stay tuned!

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Financial Horse

@FinancialHorse

1 year

Over the past week, we’ve seen: 3 US Banks fail. The Feds rush in to bail out all depositors at 2 US banks. A potential run on a Global Systemically Important Bank in Credit Suisse (that resulted in the Swiss Central Bank coming in to provide an emergency liquidity line).

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Financial Horse

@FinancialHorse

6 months

How the ultra-wealthy allocate their wealth: 32% Housing 18% Equities 14% Commercial real estate 12% Bonds How do you allocate your own wealth?

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Financial Horse

@FinancialHorse

1 year

Unless you’ve been living under a rock the past few months, you’ve probably already heard of the whole “buy T-Bills with CPF-OA” trick. CPF-OA pays 2.5% after the first $20,000. Latest 6 month T-Bills pay 3.83%.

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Financial Horse

@FinancialHorse

8 months

Top 5 Stock ETFs to buy for Singapore Investors in 2023 – Which ETF would I buy?

Top 5 Stock ETFs to buy for Singapore Investors in 2023 – Which ETF would I buy? | Financial Horse

Quite a lot of you have asked for an updated article on the best ETFs to buy for Singapore investors (the last one was from 2021). You know, for investors who don’t want to stock pick, and who just...

financialhorse.com

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