To The Moon

The four trading sessions saw close to 60 changes to director interests and substantial shareholdings filed for close to 30 primary-listed stocks.Directors or CEOs filed 19 acquisitions, and two disposals, while substantial shareholders filed four acquisitions and one disposal.Union Steel co-founder Ang Yew Chye ups stake1. $Raffles Medical(BSL.SI)$ Between Mar 21 and 25, Raffles Medical Group executive chairman Loo Choon Yong acquired 600,000 shares at an average price of S$1.03 per share. It increased his total interest from 53.79% to 53.83%. This has followed on from his acquisition of 14.3 million shares between Feb 27 and Mar 20.2. $UnionSteel(ZB9.SI)$ Between Mar 25 and 26, Union

The first quarter of 2024 (till Mar 27) saw the FTSE EPRA Nareit Global REITs Index decline 0.6% in total return. The iEdge S-REIT Index recorded greater total return declines of 7.3% across the same period.January and February 2024 saw the 41 S-REITs and property trusts average 4.8% and 6.3% total return declines, respectively, as expectations for easing interest rates were pushed later in the year than previously expected. In March, the sector rebounded 2.5% (till Mar 27) as investor confidence in the sector returned, with the Federal Reserve foreseeing three rate cuts by the end of 2024.In terms of fund flows, institutional investors net sold over S$560 million worth of S-REITs in Q1 2024.On the other hand, retail investors continued to net buy the sector at over S$480 million, after ac

There are few things more popular in the U.S. and around the world today than Taylor Swift and football. As we devolve into content bubbles on social media and politics become polarized, Taylor Swift and football have become the common thread — love them or hate them.They are the modern monoculture.They also happen to be partners with $Walt Disney(DIS)$ . That’s not an accident.Disney’s Streaming StrategyI write a lot about the smiling curve here on Asymmetric Investing because it provides a useful framework for how the business world operates today. Huge tech giants thrive at scale, successful solo creators thrive on the back of global platforms, and there are lots of failures in between.In streaming, Disney’s strategy is to move up and to the rig

Q4 Earnings SummaryThis week wrapped up Q4 earning season. I’ll post a more fulsome recap later, but will give a short summary here. The TLDR for Q4 earnings is that “things aren’t getting worse, but not quite getting better yet.”The below chart shows the percentage of companies beating / missing consensus estimates (with the line chart showing the median beat). As you can see, we’re still at slightly depressed values for both.The next chart I wanted to show gives a quarterly summary of guidance raises / misses. The bars show the percent of companies guiding one quarter forward above / below consensus estimates, with the line showing the median raise / miss. As you can see, the median guide was in line with consensus.And finally, and update to a chart I’ve consistently shared throughout ea

Learnings and conclusions from this week’s charts: $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ Demand for hedging is at very low levels.Yet, most people think a correction is on the horizon.Equal vs Cap-Weighted relative performance is at an extreme.Small caps are extreme cheap vs large caps (for a reason?).A rising proportion of US IPOs are foreign companies.Overall, it seems the strong persistent upward run in markets has lulled investors into a sense of calm and complacency. Implied volatility is at the lows, likewise demand for defensive assets. Reminds me of the adage that hedging costs the least when you don’t need it, and the most when you need it…1. Happy New Month!  The S&P500 c

Hello everyone! Today I want to share some option strategies with you! 6 Steps for Structuring a Successful optionselling Portfolio Step 1 = Set Your Objectives. Your first step in constructing your portfolio is to decide why you are starting the portfolio and what you hope to accomplish (aka your goal). Knowing your objectives from the beginning will help you to better define, build, and adjust your trading plan. Step 2 = Determine What You Will Do When Your Objectives Are Attained. Knowing where you are going means making more focused decisions. It helps to have a general idea of what you will do when you reach your portfolio goal. Step 3 = Decide What You Are Willing to Risk to Achieve Your Objectives. In selling options, you get high odds of success in your favor, but the trade-off is