Portfolio Returns for Mar 2024 - An Exciting Month for AI

I felt it would be good to track the returns on a regular basis since the returns will fluctuate from time to time depending on the stock market.

Here are the movements for this month:

The US market remains the strongest, in anticipation of the soon-to-drop interest rates. 

The SGP fund took a dive, likely because of the prevailing high interest rates. 

What was interesting in this month was the rapid rise of the Cryptocurrency portfolio. There is an event called 'Bitcoin Halving' which is happening around 15th Apr 2024. The halving refers to the Bitcoin mining rewards being cut in half. This event happens once every 4 years, and this is the 4th event. This event, coupled with the approval of the Bitcoin Spot ETF by the SEC, is making Bitcoin prices rise.

Experts, including Robert Kiyosaki, have predicted that Bitcoin could reach $100,000 by June 2024, while Standard Chartered suggests that Bitcoin could soar to $150,000 by the end of the year.

For the Robo-Advisors, my Endowus, Syfe, and StashAway portfolios are riding the wave. The one with the highest returns is Syfe, followed by StashAway then Endowus. The Syfe Reit portfolio which focuses on the Singapore Reit market unfortunately took a dive, but I expect it to recover once interest rates drop. 

Additionally, I think it will be interesting to see the breakdown of my portfolios in percentages. You can see it is built to capture all the upsides once interest rates drop. There is a component 'X' which I do not want to disclose for now. But what this chart is telling me is that my concentration on 'X' is too high and must be reduced over the next few months. 

Some key events in the last 30 days:

• Fed Policy meeting points to 3 rate cuts in 2024, with the first one coming in June. The Fed has said that it does not expect to cut rates until it has greater confidence that inflation is on its way to the 2% target. Powell has said that the Fed was 'not far' from that confidence. The next Fed Policy meeting is in May. 

https://www.marketwatch.com/story/fed-still-on-track-for-june-rate-cut-and-2-other-takeaways-from-powells-press-conference-8dfe3ab3?mod=home-page

• AI stocks are hot property at the moment, such as NVIDIA, Micron, TSMC

• War in Russia is still ongoing, and the US has recently announced 300 million USD security assistance for Ukraine. As to whether funding will continue should Trump get elected on 5 Nov 2024, it seems unlikely. Trump has made clear he will 'not give a penny to Ukraine' and 'end the war' should he win. 

• War in the Gaza Strip still has no end in sight, though there are increasing calls that Israel has 'gone too far'. In fact, Singapore Foreign Minister Vivian Balakrishnan has visited Israel and told PM Netanyahu that. Also, SAF has airdropped critical supplies into Gaza, operating out of Jordan. Well done, Singapore! Proud of you!

• As part of the Two Sessions meeting, China set a GDP growth target of 5% for 2024, but it did not offer concrete plans on how to get there

There should be a correction in the US market soon, which is to be expected after such a strong rise. And after the correction, rise again!