Reviewing a Food Delivery Rider's $300K Stock Portfolio transcript

[Music] welcome back guys to another round table my name is Adam I have rusman Hello Victor hi everyone and today we're going to rate another portfolio so the last uh time we did this uh we rate rated someone's portfolio that was like $700,000 portfolio today we have another sixf figure portfolio and I'm going to give a background about this guy a lot of you have sent in um your portfolios for us to rate as well there's so many of them so um you know we haven't replied to you because we're just going through all of them and if we want to you know do a review we're going to reply and ask you some questions as well so today we're going to talk about another portfolio because this one is really interesting so this person has a six figure portfolio I think it's about 300,000 plus 300,000 plus yes uh and interesting thing is he is a food delivery writer yeah so that's that's pretty interesting uh I'm going to give a bit more detail so he's been a foot delivery writer and he says I don't think I'd be changing this job for anything else and he really likes doing this okay um and he's 30 in his mid-30s he's married uh and has a home he owns a home okay and he can set aside about a ,500 to $2,000 a month to invest so his question is how do I go about doing this can you rate my portfolio uh and uh pretty much the rest of his his um I mean his details are pretty good yep um and okay so I'm going to share so he's looking for uh passive income so that he doesn't have to deliver so hot so his goal is to create more passive income he's he's aiming to have at least 45,000 a year so that one day maybe he doesn't have to deliver so much um he says he's moderately aggressive when it comes to his Investments he likes the Singapore and US markets so this is what he he's comfortable with so I think with that why don't we just dive straight into his portfolio have an overview and see what we what we what we can see yeah so I think before we dive into the portfolio I would like to uh compliment this person because I mean food delivery is not easy tough tough job and he can save 1,5 to 2,000 either he very low expense or he's working very hard for food delivery it's very tired I you know after a full day of delivering food you definitely going to be tired and he still can save up to 300 over thousand in terms of the portfolio really good I really have to give to this person and I also want to take this opportunity to thank all the food delivery guys out there because you know sometime when it's raining I see those guys on the street oh yeah I I could feel that is kind of hard job to go through yeah and but you know they and to to hear someone like him you know being a delivering food saving so much I think it's very impressive I think this is like real hard work yeah there's no way else around it it's just pure hard work the more you do the more you earn and the more you can save and this guy is planning a hit for his future yeah and you know investing yes I mean he's doing a good job I think he's on his way to to building his best young yeah still young M 30s only okay so let's go back and his portfolio Okay yeah so I think if you look at the portfolio over here uh he have about 20 stocks right in Singapore and the us then on the on the 20 number 21 is he got about because he got a lot of ETF he got about eight of them so I we just Lum it up together so let's start off with the ETF side so the ETF side I think he mostly buy into those us ETF and the whole portfolio is around 95,000 in terms of value market value so he owns like ETF like uh I share core S&P 5 small cap uh he owns uh healthc care sector uh he owns I share core S&P 500 ETF uh he also owns like djon uh track the djon ETF uh the semiconductor ETF and consumer stable ETF and also High Vanguard High U ETF and finally he got this energy select sector ETF a bit a bit all over the place would you think yeah I mean firstly too many ETF okay okay but the good thing is uh a lot of these ETF uh are more majority are more in the stable site of the uh ETF which is good okay and I think the ETF the whole ETF is one of the best performing also one of the best performing in terms of his portfolio is up plus 23.1% okay but I think the ETF is a bit too much MH right like I think if he really want to uh cut it down right you can focus on the S&P 500 uh maybe he want some growth you can focus on the uh small cap right because when you buy ETF it's more of like you want to diversify yeah right but he he actually choose the sectors to go to stay inside so it's almost like a thematic play yes correct yeah I mean the healthcare one definitely looks good the consumer staple also looks very stable but uh do take note that a lot of his ETF is in the US side one so there will be 30% uh weh holding tax and also estate tax if he grow this amount to very big yeah okay right now not issue because still yeah not a big but the thing is if he has an S&P 500 ETF he does have something like that right and then you go into a sector it's almost like it's an overlap correct like why why do you why why would you do that correct so I think he just focus on the if let's say S&P F I mean if if you want continue by this also can if not he can consider the Irish do Irish do ETF in the London Exchange uh I mean some people write the small cap they say you can do that also right uh if not um you want to be more Diversified you can own the VW which is the the world Index right uh but a lot of people say that the world index also owns about 60% us so is the same all this but you still have some you know other countries so what you're saying is that if you're going to own ETFs don't try to like overlap so many of them because it's like you're repeating yourself yeah and the Fe also Focus yeah focus on maybe Max three cuz if you focus on ETF the ETF itself is already Diversified you don't need to diversify so he's diversifi over diversifi ETF do that okay so still okay just cut it down so that's the first thing we talk about then I think the US he have about 1 2 3 four five stock and I mean all the big names are almost like the you say the Mac 5 plus the Visa mhm um but the position are all very small so he's actually his exposure to the US market is very small uh excluding the ETFs yeah I mean all the company he buy here I look it's good company so nothing much to to say right I mean it's still positive but of course some of them even though it's positive but some of them the valuation may be a bit high but it's not on the low side like apple I think 175 is is more on the high type of valuation or this but if I were him I will not touch it I'll just leave it there because the exposure is small yeah unless his exposure is really big maybe I will start to you know get him to consider trimming down some position but because it's a very small part of his portfolio uh and all these company Apple Google Microsoft Amazon Visa I mean if you use our Alpha quadrant framework which you use it to analyze some of these grow stock they are solid companies yeah right so um so I mean we're not going to dive deep into why we think apple is great Google is great or Microsoft is great right so but these companies I think what they have in common for of them is that they are able to write on this uh AI MH uh you know the future of AI right so which I think we we we discussed it previously right so um I think those will be a very good long-term uh Holdings for him uh because this company can continue to grow their earnings you know and over time the PE will continue to compress right so uh which means that you know the current PE that he's paying even though may be high but in the three years five years down will be actually lower right because of the earning growth that you are getting from this company all right so uh Us site I think uh we will not um touch okay but I think if you look at the big picture the way he allocated his portfolio I will say that one3 actually in the US including the ETFs and the US tax stock and these companies these ETFs they pay very little dividends or some of them don't pay don't pay dividends right so uh so those clearly I think his position to capture that growth yeah in the US which is moderately aggressive right so that's the moderate but he's 30% and two of his portfolio are mostly dividend stocks and most of them or in fact all of them are actually listed in Singapore right which I think tied very closely to what he is planning to do right he wants to get uh passive income M and dividend stock actually comes into the play very well uh so if you look at his uh RS I think a lot of the Holdings are actually reads right so aim apack ascenders capital L China trust uh and and then phasers in the point Fraser lock I read mry industrial lock mry pen a lot of read okay I think it's too much I mean if you look at the portfolio like 50 55% of the market value is is too I mean every time I tell people you say don't too Expos Expos to to to R right because the sector is very interest rate sensitive okay right so anything the interest rate move will really affect them like imagine your whole portfolio 50% plus of portfolio move you know with the interest rate yeah but thankfully he has like bang and TCO but again bang is really small too small right so I think we always think that bang and bats they like they are like you know they are good to catch against each other uh during different type of Interest environment right and then of course netlink trust itself is quite stable yeah so now let's something that I think I would do if I say I'm inherited with this portfolio all right I mean it's it's really up to him whether he wants to follow uh is that I look at the re holding over here you have aims aack extenders and all that stuff right so I think I will go through those that I it's very clearcut for me to eliminate and I rather focus on quality reads okay even though they may not offer the highest Z but at least I know the districts can maintain their dpu if not grow over time okay so uh and what this read that I'm going to share is that they have a very common uh characteristic they all hu okay okay which Hau re tends not to perform well in term of share price appreciation so Elite UK re is one of them okay you used to be known as Elite commercial re right so they have rename it uh and this re own a bunch of uh uh UK uh properties right and they mostly list out to uh UK government I mean how can it go wrong right so you have a solid tenants and all that right 100% Le Hole uh free hole okay um you don't get it in Singapore I get it why people like this reads but you know Leo in free hole um I mean you don't get a lot of free hole property I mean free hole property usually very valuable in Singapore right but when people see re that have free hole a lot of fre asset wow they were like very impressed okay but to me is that uh the land in the UK or in the US or Australia there are plenty of land right so leis of property in Singapore I think to me is more valuable than a free hole in of Singapore right so that's how I perceive it but anyway I think the point here is that uh this reads um I don't know why he bought it okay but when I look at the GRE green level alone okay it has crossed above 40% okay okay which is my own personal Benchmark I will never own a reach that is like 42 43 45% and at one time I think they hit 50% I think that was in 2023 so now with a high gearing you know when you only start reach with high gear when the interested rate start to go up it will affect the r and this is what we saw with Elite UK R right I think they have to uh last year or recently they just completed uh fundraising to actually p on their CR level right and with a higher depth obviously you have higher interest cost and then that will affect your uh dpu and this has been affected and that's why the share price actually dropped because of that right so uh and the dpu has been coming down right if you track from the 2021 2022 2023 has been coming down right so when you have underperforming r with lower dpu year on year your share will go on dropping and that's the reason why I think he's sitting on the losses for elite UK R to okay yeah so high you but you know the capital loss that you going to get from this re will not the dividend they receive even though is high which you will reduce over time will not be able to compensate for the capital L it looks High because the price keeps dropping as well yes but it's not it's not the the you I mean not going to be sustainable yeah so I think uh it makes sense at this stage when I look at it it's that oh 12% yield right it looks very impressive it it seems like oh I put 10,000 here I'll get like 1,000 plus and that would be make it closer for him to get that passive income but in the end when you own this at higher R you know you may get a lot of capital loss which is not enough to compensate for your loss overall uh return okay so um yeah so and besides that the lot of this uh properties are based in UK and unless he is very familiar with UK properties the supply and demand Dynamics over there uh I will not touch this particular R okay and it's very small in size okay and the other one is of course uh next one we move is I Global is also another European RS uh they a bunch of Assets in Germany Spain France again I look at it as like I'm not familiar with this properties and I can use Google Map go and check but look I have to go and study the supply dynamic mix over there what is the vacancy rate in each of this Market if he has done it then he think is uh super safe he can stay hold holding it right I mean our friend AK I mean he he play he invested in this stock right but um he used as a special situation right so uh but if he's owning it because it's for the dividend I think um I would not personally do it because if you look at the past performance for I Global uh it has been coming down right and you know when you look at this typ of read with lower dpu year on year for the last 5 years six years they are stuck in that future cycle right when their share price drop their cost of capital go up the yield rise as a as overall right so uh and when you have a higher cost of capital it's very difficult for them to keep on raising money from the public market to use the money to buy you CR properties and that makes it impossible for them to do it and when they start to do fundraising at distress price which heavily discounted to the nav and that becomes becomes very dilutive and when it becomes dilutive that again will affect your dpu on a year toe basis your dpu will just keep dropping and dropping and Sh will just keep dropping and dropping and dropping okay yeah so that's what's happening with I with I Global right and they recently raised the professional offering again it's heavily discounted to the NV so that is very dilutive in nature right so um I'm I don't know I don't I'm not familiar with those assets so I personally will not touch it okay unless you are clear or he's very clear that oh this is a special sitution play he may continue to do so for holding it because once it turn around then he s sell it okay yeah but because he is buying because for the dividend okay from the way I look at his structure Port his portfolio I will not personally invest this for dividend okay yeah all right so yeah and then move on to his uh if you notice I actually focus a lot on the risk they have a lot of exposure the asset exposure outside Singapore okay so the next one is going to be the capital land China trust okay so this one own a bunch of video Ms in China okay recently they Venture into uh Business Park uh and again uh the thing about China retail Market is very uh comparative right not because uh the land itself is massive uh secondly there's a strong e-commerce uh penetration rate in China you look at Alibaba JD Pino right even uh toing TI to also going to retail and that competition from e-commerce side is very very strong and and besides that I'm not very familiar with those properties that that they own in the portfolio Okay and I look at the performance last year past 5 years dpu of course China has the covid lockdown and all that the dpu has has been hasn't been fantastic in fact I was looking at capital L China trust way before the pandemic and I look at the performance I wasn't very impressed also uh last and uh one thing I was really worried at the time in 2019 I went to the AGM and asked the former chairman uh mingang right and ask him whether know because a bunch of the retail malls that they own have uh remaining term of lease with with the government and actually left with like 20 over years MH about of their properties right so I actually asked the mang and what would happen to all this uh land you know the property that sitting on top the land that under Le Hole uh what happen when they closer to that you know uh expiry date MH um and the answer was was that the there's no clear policy from China at this stage at the time okay even until today um how would they deal with this such situation there are Case by case where they do have to top up land premium on that I'm sure that Chinese government will introduce that policy sooner or later uh but because of this such a short least tenure um I'm not very comfortable right because at the end of the day maybe closer to like left 10 years government come up with a policy they still have to top up for the land premium which shareholder have to up that additional Capital to top up for the extension of the lease itself okay so is something you just don't like yeah so I mean this doesn't just apply to the B itself but the whole of most of the commercial asset in China itself right so but I'm not saying that you know you should avoid just that this is something you need to be uh comfortable if you are investing in that China Market itself okay so yeah so I'm I'm with the competition coming from ecomerce and how nowadays uh a lot of Chinese consumers they just get everything delivered to their those those step yeah yeah it's I mean look at M is how how how they have achieved you know the the type of skill that they get is very impressive so I just feel that you know um retail Market in China if you are the mid deer nether luxuries right you will get badly affected okay yeah because of that that competition coming from that space and then next one of course we have Sasa Reit which own a bunch of outlet malls in China again I don't know where are some of these malls they do tell you the location her F I mean it's a Big Country even if you know where it is it's like where it is where is it it's so big yeah you don't know whether they how how well are they doing right I mean you do have to have some just on theground knowledge like you say if you're going to do invest in foreign markets there's a lot to yeah you get up to speed about as well yeah even when I look at M P Asia when they went announced they going to acquire North Asia which I didn't like it they are they have this big asset in Hong Kong Festival which I have to you know go there visit there you specifically went yeah and then know the market condition there you know to really be comfortable with that position right but with all this it's really like out of hand right I can't monitor so by the time you travel finish the whole China probably it's more than your 70 years old already I don't know yeah so sasar has this very unique model where they call it the EMA and trusted management agreement because B of the rental income that they actually earn is from rely on the tenant sales of those Outlet brand like Gucci Uh Kevin Klein you know on their store itself so 10 to 80% of the revenue come from the outlet sales that they they have actually achieved not based on fixed rent you know so it's a variable rent variable rent yeah so it's not like a typical Mall in Singapore where you charge the tenant okay you rent this $2,000 a month maybe I will charge you small percentage on based on GTO or cross turnover but this one is opposite but then they structure in such a way that it's Unique they make it like more predictable like your Hospitality R is that they uh con convert B of this into a fixed component and that is actually be by the sponsor the operator all right which will fix pay the r about of it I think at 60 70% in fixed rent but those are just it's just the way they fincial engineering creative ways I mean there nothing wrong with it it's just that the RIS is the counterparty risk I wrote this when they went IPO I think that was in 2018 2019 and the Prospectors is that thick I went through that I think somewh somewhere behind yeah over there I still kept it yeah but then I don't like that the the structure because it's a read I like stability right of the income uh I I mean Outlets is still popular just that I don't know how they will perform okay so far I think last five six years they have done pretty okay it's come down but uh it's not like in the sharp or drastic uh drop itself okay but I just didn't like that uh variable or fixed Rand uh you know the fixed R is too small for that okay so yeah it's it's if unless it's very clear you want to get exposure in outlet mall unless if not I will I don't see a purpose on it okay yeah so and then move on to the list is United H spear this one I think on a bunch of uh retail uh Assets in the US again on the I think it's the East Coast site uh New York New York uh North Carolina and Florida and all the stuff again us is very big uh and the amount e-commerce penetration in US is also it's not as high as in China but um it's you know it's it's it's disrupting the retail space over there right but they position themselves as a necessity I don't know how strong or how true that is the case I can't verify it y yeah I mean I've been to the US Mall some of this uh you know Outlet Like Home Dep that it's huge right but there's too many land over there and it's cheap to buy some of those land so I just don't know how to approach this Market I will not uh touch it right but their performance also has been coming down because of the higher uh financing cost the interest rate that has come down right so because of that that's why the r prices of this uh foreign assets that are listed in Singapore have not generally done well yeah so I will not keep this right simply because they are higher yes they are higher but the capital loss that loss that I'm getting from this R is just would not be sufficient at the end of the day all of these reads that you mentioned so far have falling dpu that's the point I mean even if even if if I mean there your limus test is at one income then it just doesn't pass the test correct yeah then you are getting lower and lower dividends over time right so which defeat the purpose and it's so not because of the high U right you should look for more sustainable U the U can be low but it increase every year you you increase your dividend every year so that's the Target that if you want to become a div dividend investor you should do that right yeah and then of course the other one would be the there's some more phaser lock and com but I will not touch on that okay I will just go straight into this uh taiwa house logistic I think this one is also quite interesting because they own a bunch of logistic asset in Japan and uh I think he probably got it not too long ago uh and now a lot of people now going into Japan because first they betting that the Yen was strengthened as B boj Bank of Japan ease of the uh the financing right the the basically they start to increase the interest rate the Yen may start to appreciate that's what a lot of people are banging on right now now um and now because right now in Japan is Japanese Market is because the borrowing cost is so cheap a lot of people do this thing called carry trades so they borrow in Japanese Yen at $1 1% cost of funding and then they go to the US to buy the treasury rate at 5% that get earn the 4% spread so you have a lot of people are converting yen to USD for example and that actually weaken the whole currency but if you know us rat are to drop and Japan rat are to go up and then that will convert of course you have more people wind up that carry on tra trades and then they rever back and that R potentially might appreciate right so that's the the the thesis which which what a lot of people are banging on okay but if I look at the fundamentals of the re if you use dividends machine framework the re to go and analyze it this one take most of the boxes right the the main re is the Yen if you continue to depreciate um of course your distributable income his distribut income will get affected okay so right now uh yen is still despite the fact that the boj have actually uh started to end their negative rate regime okay the Yen continue to weaken so it doesn't seem to play out okay so whether that will continue I don't know but uh it's time to go to Japan and it's cheap yeah it is but for investor who invest in Japanese Yen and then that when they translate to S dollar that will weakens and that will reduce your dpu so far their dpu has been quite stable how long that will last it depends on how fast Yen will recover yeah if we continue to weakens I think this dpu may start to decline okay and that's why U ta house logistic I think it tra at 9% year for a reason people foresee that you know the Yen will not revert anytime soon okay yeah so it's a high you uh re but if the trend reverse of course this one could be like a a home run right so yeah I'll leave it to him what he wants to do with it I was looking at it recently actually but decided not to go ahead because I'm not investing in I'm not betting on the exchange rate it's very difficult to time yeah so if I want to invest I want something that stable and more predictable yeah and I don't like the fact that they going to Vietnam and they issue a lot of uh you know uh fees I mean a lot of units for their management fees which is very dilutive because now their Shares are traded uh at a huge discount to the nav okay yeah all right so these are the these are the reads that you have pointed out that have falling dpu in the case of dawa is just as because the the yen is is just going to be a risk that you don't want to bet on yeah yeah so and so what would you do all these um I think all these are the most common characteristic is that falling dpu High you for a reason that's why it's falling dpu right and then you have a know share prices keep on dropping and they are all mostly start in that visual cycle where cost of funding is very expensive so it's very difficult for them to raise the money from the public market to pay down the debt mhm right even though now you're in the high rate environment and now because they are stuck in that Trader at a huge discount to na they are forever stuck there it's very difficult to get out of it well on the other hand if you look at some of the quality RIS that trade at premium to the nav when they issue preferential offering yeah go ahead it's a good time because the cost of funding is cheap it makes sense for them to you should and buy more U Equity properties and then they can actually buy them and then put into their portfolio and that become dpu equative and because they issue at the premium and that will helps to grow their dpu also and over time the dpu you see keep going up and going going even though they may not trade at a high year 4 5 6% is decent but they are able to keep on momentum of this uh so what you're saying is better to get a decent yield that is growing rather than a high yield that's coming down yeah so I that's the point of it right sometimes the stock tra as high it's for a reason right for reason you don't trade High because there's no reason there's always a reason why you trade high right all right so if uh I mean the way I look at it is that um the the most painful one will be the capital land China trust because he lost about half of it right which almost 10,000 in that position okay so it's difficult to cut loss but you know um you don't have to make back the way you lost it okay you can make the same money uh from other stock better quality stock yeah so uh I mean if I were him I would liquidate some of this position and then convert them into a more stable weats higher quality weats yeah so I think we talked about some of them before uh in the previous portfolio review I think we mentioned Capal DC now they are facing temporary issue but I think once the issue is over I think fundamental will be back up actually quite surprised he he he so seems like he lik streets a lot but I don't see kaer DC C like not Insight right these are the better quality do you think maybe just he just looked at the yield High seem like he looking at the Y for that and he hasn't attend dividend machine that's why if you g through dividend machine called that we have focus on like reads so a lot of this RS will fit the criteria actually okay yeah so yeah Alpha quadrant will be more for like us stock so you use Alpha quadrant framework um then of course a lot of Apple Google Microsoft the the reason why we say they are okay is because we use the framework we analyze them before so they are fine even including Visa just that you need to buy the right price do the right valuation and all this yeah so I mean Alpha cant is open right now it's until the end of uh this month 30th of June so whenever you're watching this if you're interested to learn how to invest in growth stocks in the US specifically primarily uh and how to analyze them the business model how to Value them I think that's a big thing because when it comes to stocks um the right price is very very because a good business can be a bad investment if you pay at the wrong yeah so I think uh knowing how to value a stock is extremely important so we teach you the methodology that we use the Exel templates and all that do check them out uh if you're interested just go to alpha.com until the 30th of June uh it's open until then after that we're not going to talk about this for the rest of the year yeah because if you see on sportfolio this I mean like everybody know Apple Google Microsoft Amazon is good good company but how do you know but all these are already big companies you need to look at like find small before it becomes the next apple um Amazon Google and all this right so so quadrant we we do that we focus a lot on the mid mid capap uh uh the small cap also there's also large cap also so you you at least you can buy companies that is still growing at a fast place but some of the companies that we we talk about not a lot of people talk about all right so that's the the main focus precisely and before they grow big all right so Che it do check it out if you're interested alpha.com until the end of the month would you say for this person uh would you I say could you actually put in a bit more in the US market for a bit of growth or would you just no cuz his goal is dividends or just stick to dividends what would you I think he should stick to dividends if his goal is is for dividend I mean I look at the whole portfolio I think he bought very good price for DBS M the the price I mean it's not the $21 because I I know the value of DS at the $21 that's a good value at a point of time compared to the price okay right uh the only mistake that he make for DBS is he did not buy more yeah okay 1.9% at the based on cost but the rest of the high R and all this is even higher than DBS right it should not be that way right CBS is quality right but of course now the DBS price is a bit on the high side one standard division above the and he got in at the wrong price for mry pager $2 okay which is a ter price to to to pay for it right so uh of of course if his position should be okay if mry commercial did not acquire North Asia $2 maybe today he will probably be like above $2 or not big even right so uh timing is also very important I mean for dividend stock timing is very very important yes Us site you may not you may ignore the timing because you know S&P just keep going up and up right so uh but for dividend stock I think timing entry is very very especially for Asia stock is more volatile must know what what is the right value to go into the Asian stocks right so I think this guy has a pretty good balance you look at it um about 100,000 plus is in the US which gives you a bit of growth yeah like and still relatively young yeah with the ETFs and it's still relatively young a bit of a Runway and then as he gets older he can actually like move some of this into dividends well at the same time he's still investing in dividends to build up the passive income yeah I mean if you are not you're you're not building into a trust right as you get older you should move most of your us position back to if your amount gets so big should move back to Asia because if not you're going to get the estate tax of the risk of right but if you have if you own your hold thing under a trust then you don't care because if you're there or not there they context you because it's under a trust okay well I don't know if anyone is can you know big enough to have a trust I think not everyone can do that if you ever do it you know um remember my name what's my name what's my name anyway um so I mean I think he's doing what do you think about his portfolio what how would you rate it I think the way he allocated is quite okay just at reach part maybe he has to cut down a little bit and then uh cut down all his high RS which are very risky and then I think those are will have suffer lot Capital losses right but overall I mean based on his objective uh to is in dividend stock yeah it's fine maybe because he's comfortable with it all of us have different risk appetite I mean I can tell you 35 years old 36 years old still young I think you should put higher percentage on growth maybe 50/50 right but yeah I mean if he's comfortable with two3 in dividend just stay with it but he say moderately aggressive right it's supposed to be 5050 so it should be 50/50 okay so those position they cut off from the r maybe he can either go into the Hong Kong which have a lot of high you uh sustainable type of dividend stocks like 8% 9% 10% today we can find it or uh simply put that into a Singapore saving bonds until he find new opportunities or you get a better idea on what the stock he wants to put into the his portfolio but he say he only wants Singapore and us no Hong Kong so just Singapore and us then maybe look into the US side maybe that that those will be giving more but us is right on the high side now right okay all right so if you could rate this portfolio a2f what would you give it give me an alphabet um oh Victor you want to go first I think compared this to the previous portfolio I think the previous portfolio have much more quality company see the losses of the gains but I look at the quality of the thing right the previous portfolio have much better quality just that they pay at the wrong price but over long term should should should be okay right but this one I think he do have some quality stocks but uh he also have quite a lot of um percentage not a lot of percentage but on the those like I feel the quality is not there also he paid the wrong price also MH right so I'll still give same as the previous one okay uh uh maybe C minus or something it okay okay C minus yeah what would be r c minus uh c c minus C plus see okay yeah but yeah once you structured car r all those uh lower quality reads I think that will move move B yes correct but once again it's again not not that bad a pfolio still not that bad still not bad still okay still okay you can just tweak it optimize it you know put in uh you know like you say reads with more sustainable yields and ETF may be instead of eight maybe three or five keep the the just focus on the the the strong one okay right no point overlapping but I think he's doing good right I think he's not far from his 45,000 a year dividend if he continue to do 2,000 every month and you know uh be Thrifty and safe I think he's on track right just don't lose focus continue to do whatever you're doing you are on track all right so again uh no recommendation to buy or sell anything everything that we've discussed here here is just our opinion based on what we know you know the research that we've done uh and whoever is watching this this is not yeah don't this is not Financial advice all right so it's just what we just for educational purposes yeah we just want to give some interesting portfolio and see you know you you wouldn't expect someone who do delivery rer and have this kind yeah he's really interesting cuz he's he's he was saying this is actually done over um he shared it over Instagram actually and he was saying that he actually has a degree yeah so he has a bachelor's degree but he just didn't like corporate life so he decided to be a food delivery riter and uh I mean he's not he's still relatively young it's not like someone who's in the corporate life of all the way to his 50s made a bunch of money and then okay I'm just going to do delivery writing but this guy is is relatively young he just did he didn't like the corporate life he saying and then he just decided to do this and he's got a $200,000 portfol yeah so I think it's very interesting the the I mean this portfolio and the way he explained his his life and all this right and he just got his home y right so and his home I see the the monthly mortgage that he say it's about 900 he and his wife split he if it shows me that this person is very prudent he's very he goes he don't over stretch his finances everything make sure that he he get is very affordable based on the way he say things like I can see why he's able to get this amount at this age okay all right is he's doing very Well's doing well just at the sound of the stock of course you you stream it optimize it I think you get even better I mean it's part and passle I mean when when I was young I'm also like that like everybody like you just have to go through the process learn from it and just improve on it okay so I mean is there anything else you want to share about this portfolio that's all for me yeah maybe maybe a bit more us growth you think yeah I think uh I will increase more on the US tax side right so for instead of 5% maybe increase 10 15% okay yeah because those are long-term play it give you more capital appreciation over time but of course like we say that the US is expensive right now but not all the US Stocks is expensive there's really some like uh more midap that is opportunity uh there but your first you have to do di I mean we ourselves we do invest in uh we still invest in the US market but selectively yeah so I mean it's it's all about timing as well I mean just because you want to go to us you don't to go in straight away wait I mean as long as you have the investment process you know what to do like you know using Alpha quadrant and you know knowing how to basically pick the right stocks based on the business model the finances and valuation and stuff uh and then when it's the iron is Strike when the iron is Hot Correct right big St big yeah so you save up money in the meantime and all that all right so I hope that was really useful I mean this another portfolio review thank you so much for you know sending all your portfolios uh anonymously we're not going to share any details but you know if someone puts you know you can learn things from this and I think is really really useful okay so you know keep them coming uh and we'll pick up another portfolio to rate y something that's interesting as well and of course in the meantime if you're interested in Alpha cion just go to alpha.com and check it out it's open until the 30th of June this year and then enrollment is going to close so if you're interested to learn how to invest for yourself you know do a how to rate your own portfolio because you know the process behind what's a good stock what's a not so good stock how do you do all these things uh which is what you guys do all the time yeah that's why we can do this uh pick up the skill for yourself because it's a life skill that's going to stay with you all the way till you retire basically so do check out alha quant.com and we'll hope we hope to see you on the inside all right so with that I think there's nothing else y That's All Right my name is Adam rusman Victor I hope you enjoy this any questions put them in the comment section of course uh you know subscribe to our Channel many more wrong TBL come up and please hit the like button that will help us with the algorithm and we'll see you again