Market is Back in Turmoil and I Just Got to Getaway!
As mentioned above, market is back in turmoil. US markets are looking directionless recently. Three days up, two days down, especially with the earnings season for 2nd quarter and the FED's July decision for the interest rate back in the spotlight. It is estimated that the results for most companies will not look good, especially Apple and Tesla. Being the largest component in S&P 500, if Apple's results fail to meet expectations, it is definitely going to drag down the whole market. Of course, how it really pans out remains to be seen. Cryptocurrencies are crashing once again, causing many crypto-related companies to go under, such as Voyager Digital, which just filed for bankruptcy this morning. Nearer to home, Banks and REITs are also fluctuating in a directionless manner. Early in the week, their prices are redder by the day, but by the second half of the week, they have returned back to the green. This just once again reinforce the saying "Time in the market beats timing the market".
In the property sphere, with the rising interest rates, it is the first time that I see that the 3 local banks having price wars with their mortgage loan rates. However, it is not a price war with lowering rates to attract customers, but a price war with increasing rates! This is the first time I ever see the banks increasing the interest rates of the fixed rate packages at such alarming speeds. With that, I am very very thankful that I made the decision to refinance back in April to lock in fixed rates at 1.45% for Year 1 and 1.55% for Year 2, especially when the interest rates being offered now in July stands above 3%! When will this pace of increase slow down, no one seems to know. This is reflected in the widening spread between fixed rate packages and floating rate packages. Hopefully things will stabilize soon, and hopefully rates will go lower by 2024.
With these volatility and madness, I got to get away to find some peace and tranquility! In the shortest time ever, I managed to decide on a trip in less than a week, after seeing some changes in the work schedule that enable me to plan for this. So here we go, a 3 day 2 night chill and relax to Phnom Penh, Cambodia...
Beautiful Structures and Scenery... (Royal Palace closed to public since 2020 due to Covid)
The Royal Palace 
Cambodia-Thailand Friendship
The Peak and The Bridge
Pigeons along the Riverside...Beautiful Way of Life... (Locals at their markets, their version of 7-11)
The Local Version of 7-11
The Local Version of Wet Market
Rest and Relax... (I think Soma Spa is the relatively classy massage place, their masseurs are skillful in their massage techniques)
Near the RiversideBeautiful Food... (My "not so strong" stomach does not allow me to enjoy the street food...so, got to go the attas way)
Best Western Dining Place All Time...
Small Local Cafe Hidden along a Quiet Road 
The Local Meal...Beehoon Soup
Another Breakfast at MisterBrew Coffee
Mojito
Main Course
Total "Damage" for this solo trip:
Flight + Hotel + Insurance: SGD 379.00
Food + Endless "Starbucks-Worthy" Coffee + Tuk Tuk + Massages + Souvenirs + Tips = USD 189.00
The people there are nice, the weather is a tad hotter compared to December (Usually I go there in December, but this year just decided to fly in July). It is relatively safe as I walked all over the area till 9pm at night, and all is fine. I suppose as per every country, all is well as long as one remains vigilant and don't overdress. I like the country, hope that one day I have the determination and motivation to learn some basic Khmer to do some basic conversation with them. But most working adults there know English, so overall language is not too big a problem.
Cost wise, yup, the trip doesn't seem cheap. I must say, inflation is a problem everywhere, and Cambodia is not spared either. Things are definitely a tad more expensive than 2019. As Cambodian Riel and US Dollar are used interchangeably in Cambodia, and with the recent government policy to support the use of Cambodian Riel, small denominations like USD 1.00 and USD 5.00 will not be given back as change. Instead, any change below USD 10.00 is returned in Cambodian Riel (this exacerbated the issue as everywhere has different exchange rates, so I think I may be short-changed a little here, there, everywhere... but officially the exchange should be USD 1.00: 4,100 Riel locally). Hence, I believe it will be good to just prepare Riel if anyone is interested to visit.
In addition, GrabTukTuk is much cheaper than just hitching the Tuk Tuk to and fro the airport. Upon arrival, the cost of hitching a Tuk Tuk from airport to hotel is USD 10.00. However, on the day of departure, the cost of GrabTukTuk is officially 16,900 Riel, which approximates to USD 4.12. In the end I paid 21,000 Riel, inclusive of tips. May their livelihood improve too!
And now...it's time to get back to work. To earn and save up for the next getaway. Barista FIRE, here I come...!
Its good to take a break every now and then! I like what you mentioned. "Time in the market beats timing the market". You say it better than me. In fact i wrote about this as well as alot of people have been telling me that recession is coming, interest rates is rising, geopolitical crisis and etc, so should hold more cash. Technically it is correct, but i have never been successful in :"timing" the market to get back in. If i didnt sell at every crisis since 2008, perhaps my portfolio would have been much bigger. Haha.
ReplyDeleteHeyo HRI, yup indeed... I have also done the same mistakes in the past, but the same "curse" always happens. The stock I sold in hopes to buy it back at a lower price, it did not drop, but when up instead, while the stock I kept fell in share price. So, same case here, bad at selling. Just gonna try to snowball my portfolio in hopes to reach your level... haha
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