Quick look back of 2020

It has been 3.5 years since I started my investing journey back in Aug 2017, and last year was the first year I had positive P&L (apart from 2017 where I just started with few lucky trades, not investing). Even though the TWR in 2019 seems a lot, but because of capital flow movement, it merely was a break even year for me. 

There wasn't a quick look back on 2019, because I didn't make a single transaction at all. Was simply too busy to handle increased work load and family load (as a father of a young kid). Until sharp drop in March and April in 2020 brought my attention back to investing. 

I considered myself very lucky looking from hindsight to enter the market at such an opportunisitc time, but it was not without doubts and courage to add chips. No one could be certain of a V-shape rebound and melt up, even though this could be a possibility. My simple plan was to buy some quality income stocks at bargain price, that can give me some dividends to reinvest into the market in case the winter is long. 

I also sold a few stocks to raise the required capital and firearm reserve, which to my ultimate surprise now at Jan 2021, most of could have given me even better return than my carefully selected buys. Probably could laugh at myself to have really sold some if at the darkest hour / lowest price, but I wouldn't like to justify or dejustify my actions based on absolute %. If I were to regret some actions, I would say I shouldn't have sold away Kingboard Chem, which is still a solid company. I thought I want to keep more firearm reserve to be ready for next wave, but when it didn't came I just didn't adjust my plan as I couldn't overcome my personal pyschological barrier to buy stock at a higher price that I sold.  

It was also a good time to do some reflections on my foray in HK stocks back in mid 2018. Which from the small sample size, does tend to suggest that buying wonderful company at fair price yields better return. 

Having able to hold a stock until become one bagger or more was a wish for me, and it was to great relief probably that I have two now in my portfolio (the other is Sunpower which I bought back in Oct 2018 at 38c). Partly also because of there are so a few multi baggers happened in 2020 like Riverstone, iFast where I missed out due to hesitation and also sticking to my plan of choosing quality assets during March/April 2020 sell down.

Nonetheless, it wasn't a bad year for me, since I essentially only took out some time in March and April from my busy life back to investing. That's why I am very glad to have INs community here to be able to still catch some ideas on and off now.  

Let's see how 2021 will unfold, and wish everyone a good start.