Even though the SGD has strengthened considerably against the US$, my IB portfolio appears to have almost recovered its 2022 losses. Having said that, I note that in 2022, my portfolio was green in Jan-Feb only to crash in March 2022. The same could happen this year though I am optimistic that it won't. Revenues of most companies should actually increase at least on a nominal basis due to inflation so hopefully that should provide some support.
Of course, companies that in debt and are not making money and find their costs increasing due to inflation may not fare that well.
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