Hello everyone. Today is the 9th day of Lunar New Year (正月初九）. On this day, it would be the ritual or celebration known to the Chinese Hokkiens as “拜天公”, which literally means “praying the Heavenly God”.
The ritual or celebration are so delicate that all of the setup, the offerings, the food preparation have to be carefully done and it also involves a lot of manpower and visually unique.
For those who celebrate, Happy 正月初九!
MARKET
Like I said before, for the past few weeks, volatility in the market for is expected.
During an interview in “The David Rubenstein Show: Peer-to-Peer Conversations”, Ray Dalio explained the recent market selloff as follows:-
“What's happened is they produced a lot of debt and gave out a lot of money and so everybody's got money and it's also very easy to borrow money to buy things and as a result, if you create much more buying power than you create goods and services, you've got a lot much more inflation and the federal reserve has been behind the curve slower to tighten monetary policy and as a result we're now starting to see the rise in interest rates….. interest rate goes up a percent that means all the other assets have to adjust we're in a process of making that kind of adjustment...”
Nevertheless, I remain cautious given ongoing market challenges and global uncertainties (COVID-19 and geopolitical tension). I do not expect the market to return to pre-pandemic conditions anytime soon and foresee that commodity and energy prices will remain inflated moving forward.
Year 2022 was undoubtedly difficult in many aspects, yet I believe we have emerged in some ways even stronger than before thanks to the strategy of diversification.
PERFORMANCE
Due to the volatility of the market, tech stock like $FB (Meta Platforms Inc), which I am holding is plunging more than 20%. $GOOG (Alphabet) is the only stock that I am very satisfied with due to its satisfactory earnings.
Overall, my portfolio performance currently is still on the uptrend since its inception in May 2020.
Stay safe.
MNMLH
09.02.2022
TAKE
NOTICE that the above memo is by no means a recommendation or a solicitation or
expression of views to influence you to buy or sell any stocks. The above memo
is just my sharing on what I am doing with my portfolio and my thoughts along
my investment journey since May 2020 for my future records and reflection
usage.
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