Annual Dividend change 2022

 

The term dividends is used loosely for easy reference/shorter graph title because I include payments from bonds / bond ETFs in this graph. 

As I achieved Financial Independence in 2021, this additional 22.1% return increases my margin of safety and also goes towards the goal of building up capital /cash flow for the purpose of doing charity work when I finally decide to retire.

IBKR Portfolio Performance 2022

 

I had hoped to break even in 2022 but it didn't happen. However, I view 7.86% as a relatively modest loss that I should be able to bounce back from. Hopefully 2023 will be better. I managed to outperform Vanguard World by >10% as a consolation prize, but more importantly, my passive income continued to grow. I'll find time to do the calculations and report on that next week.

T-Bil and SSB update

 I was allocated $20k of the most recent 4.28% T-bill and $20k of the Jan 3.26% SSB. Even though next month's SSB rate appears to be going lower, investors didn't take this as the last chance to add to their SSB. As a result, anyone who bid less than $172k got allocated. It's either a case of retail liquidity drying up because retail investors have already been fully allocated in previous rounds and/or people are rushing to buy T-bills or fixed deposits.

While 6 month T-bills and for that paper 1 year promotional fixed deposits above 4% look attractive, there is no guarantee you can roll them over for at least 4%. My view is that it is good to have a mix of long and short term instruments. If anything, I'm sort of regretting not bidding more for this SSB, because SSB rates appear to be going south next year. 

Portfolio Update: Dec 2022

 

Given the crash in the HK/China market, it is no surprise that the 2 downgrades are China related, with the HKSE tracker fund falling from large into the medium category while First State Bridge, which only just qualified as medium was removed (even a small drop would remove it from the list).

In terms of Aviva, I am happy to report that since my last update 6 months ago, Aviva managed to drop below £4 which gave me an opportunity to accumulate more. The price has since gone above £4 so Aviva has returned to the Large category.

Banco Santander (I buy the ADR) has surprisingly staged a good recovery and even went above $3 briefly.  It is now hovering at $2.97. This means that I am finally above water for this counter and it enters the medium category.

Astrea VI is a PE Bond that I have written about and its YTM of 4.5%-5% (I accumulated it at various prices and hence the various yields) makes it more attractive than Astrea VII. Some might even say that Astrea VII is mispriced - why should the YTM of Astrea VI (which is 'safer' than VII not least because its reserves account is substantially filled) be lower than Astrea VII? The only thing I can think of is that Astrea VI's published coupon is 3% and retail investors don't know how to calculate actual yield? The liquidity is so low its probably only retail investors buying and selling this counter.

Finally, I decided to add SGS T-bills and SSB into the portfolio list. 

Dividends Collected: Nov 2022

 

End of the year is a relatively quiet month for dividends