Friday, September 15, 2023

Doing much better now - Carousell

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Readers will know I did an analysis     back in 2016 and updated it in 2018. In 2016, I was quite disturbed because they have not switched o...
Saturday, September 2, 2023

So what do with SEA- a losing core stock?

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Quick thoughts on how to handle a losing stock like sea.  It’s the biggest loser in our portfolio this year (almost everything else is up) a...
Tuesday, July 11, 2023

Learnings from key losses over last 12 years

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(Update 9 mths later, I just wrote the article on learnings from wins too). About S$3.5M from the more memorable badly made investments. Tha...
6 comments:
Friday, February 17, 2023

Budget 2023 and the real elephant in the room

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Have been asked what’s my opinion on the budget. General sense is that it’s a more labour and average resident friendly budget than one to s...
Tuesday, January 3, 2023

Startup Portfolio Review for 2022 - The pain of costly capital

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I just reread my 2021 report and unfortunately a lot of the points/predictions we made one year ago came true. The growth stock rerating la...
Sunday, December 25, 2022

Purposeful Life - 2022 in review

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(read earlier 2021 review  and 2020 review to get context.) If I have to summarize the year 2022, it is a year of anticipation and waiting ...
2 comments:
Sunday, November 6, 2022

Back to the 2000s for startup valuations?

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Have been watching and analyzing the public tech markets and broader markets for the year. Like everyone else, I have been taken by surprise...
Thursday, June 23, 2022

Recent angel investment exit during market crash

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We recently exited one of our earliest angel investments in an animation company. Return was about 11-12% IRR over a period of 10 years. On ...
Wednesday, April 27, 2022

How will the current stock market rerating affect our startup scene?

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A fellow angel asked us the above question. Ning and i discuss this a fair bit as we have both public and startup equity. I actually summari...
Wednesday, January 26, 2022

Thoughts about SEA limited (& other plunging listed tech stocks) and implication on tech startups

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Was discussing SE today with Shao-Ning Huang. We were lucky to spot it in 2017/8, and bought our usual bite. The position quickly grew to be...