Thank you, Tesla!

Note: The “dip” is due to the 5-for-1 stock split of Tesla

July and August – a crazy time for my portfolio! Tesla had a huge run-up due to their strong Q2 2020 performance and also news of their 5-for-1 stock split. I’m sitting on a nearly 200% gain but I have zero intention to sell as I have a very strong conviction to hold it for the long-term (and regret for not buying more during the Covid-19 pandemic!). For those who are interested, I highly recommend checking out Tesla Daily and Chicken Genius Singapore who summarise Tesla’s development into short videos / podcasts for easy consumption.

I sold my entire shares in ProShares Short S&P500 ETF at a small loss of US$700 as I do not see the S&P 500 going into bear territory anytime soon. Instead, I have bought into 2 tech ETFs, QQQ and XLK, as it is quite clear from the Covid-19 pandemic that technology stocks are here to stay and dominate the economy.

In terms of the strategy to dollar-cost average, I am very pleased with StashAway’s performance thus far. It has been a great platform for me to stay diversified in an effortless way. Therefore, I have increased my monthly contribution to S$1000, up from S$500.

All in all, my current net worth is at S$189k, ahead of my 2020 personal finance goals. Based on my current projections, I am on track to hit the S$200k milestone by end of 2020. Let’s hope there is no severe second wave of Covid-19, but I am, in any case, ready with my cash reserves if it comes.

6 thoughts on “Thank you, Tesla!

      1. Haha yes i do lurk around there frequently.

        Got to attribute your returns due to having high earnings which have high purchasing power.

        Since you like ETF so much, maybe you can look at arkk.

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      2. I don’t consider my income to be high. In fact, I’m earning below my peers; should jump company soon to catch up!

        Yes, I follow Ark and their reports. May pull the trigger in time to come.

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  1. One thing I would like to point out is that you are too highly diversified into ETFs..My advice is to keep 2-3 ETFs while divest the rest into other sector/equities.
    Would you be adding more tesla to your portfolio soon?

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    1. I understand what you mean. FXI and EWH were added prior to joining StashAway. If I have to trim, it would be those 2 ETFs. I shall see. I’ll add to tesla if there’s a “senseless” severe dip. Right now we’re seeing a pullback from the crazy run-up, but still not enough. Maybe at the US$400/share level.

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