As we approach the end of 2024, it’s a fitting time for reflection.
This month not only marks the close of the year but also signifies the completion of a 5-year investment journey since the inception of my new portfolio.
More importantly, it’s the targeted endpoint of the financial independence journey, which I started documented on this blog since 2007. If you haven’t realised, he blog address “mrtfi2024” is an acronym for “My Road To Financial Independence 2024.”
Reaching the end of this chapter is bittersweet, I’ll share more about that in future posts.
For now, I am inspired by Happily@InvestingNote’s recent post about his best transaction of the year, so I will highlight my own top investment moves for 2024.
Rekindled with old flames
For one reason or another which I let go of these stocks in the past. This year, I have bought back a few of these counters:
With both returning more than 40% this year, it’s a close tussle between DBS and Trade Desk. Eventually my vote goes to DBS – non only because it is occupying a larger position, but also it really surprised with its continued good performance this year.
Holding on through thick and thin
Things don’t always go right in investment. These counters were beaten down along the year and I have held on to them as I still believe in my theses.
Singapore REITs in particular Frasers Centrepoint Trust (SGX: J69U), Mapletree Industrial Trust (SGX: ME8U) and Parkway Life REIT (SGX: C2PU). You know the narrative about S-REITs but these three continue to deliver stable performance and I have held on to them.
Shopify Inc (NASDAQ: SHOP) plunged by near 20% in May after it reported a good 1Q 2024 growth but fell short of analysts’ expectation. It’s not the first time and won’t be the last.
I stayed steadfast with it and since it reported its strong 3Q 2024 earnings, Shopify’s price has surged by around 40%.
Shopify is the clear winner especially accounting for its future growth potential.
Letting go of fading relationships
I always had sound reasons for investing in a particular stock. Therefore, despite short-term price fluctuations, I maintained a long-term perspective on my investments.
However, there were times which I needed to relinquish the relationships as my theses turned out incorrect or there were better opportunities. These are the counters which I divested fully this year.
I initiated small positions in United Hampshire US REIT (SGX: ODBU) and Daiwa House Logistics Trust (SGX: DHLU) last year. I was attracted by their high dividend yield and potential to sustain their dividends.
As S-REITs continue to struggle in the high-interest rate environment, I decided to only hold those that I am more familiar and hence divested the two.
I first invested in Raffles Medical Group (SGX: BSL) eight years ago, thinking that it will continue to grow with the plan to build its extension to Singapore hospital and its first foray into China.
The healthcare and hospitals operator has proven to be more resilient than expected. It grew its revenue and stayed profitable despite of COVID-19 pandemic and China slow down.
However, the recent results surprised me on the negative side. China hospitals are taking a much longer time to break even and I was concern about the increasing loss in its insurance arm.
While there’s potential for the company to rebound next year, I’m less optimistic about its future growth. I believe it’s best to move on from this investment.
Forging new relationships
With so many companies listed on the US stock exchange, there are bound to be new discoveries over the year.
For 2024, I have started new positions in these stocks:
It’s too early to definitively say which investment strategy will ultimately yield better returns. Given the current US bull market, all of my investments have generated positive returns this year. That said, Nvidia has been a standout performer, delivering over a 40% return.
What were your biggest investment wins in 2024? Share your experiences in the comments.
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