If you were stripped of everything...

[Sharkman]

Thanks for sharing Sharkman. SREITS do look appealing. There's number a blogs covering SREITS and Singapore market, are you following any? Which SREITS would be considered blue-chip to withstand recession fallout? What are your views of Singapore banks long-term?

will try to keep this brief as it's kinda off topic so don't want to derail this thread.

a few good ones are fifthperson, dollarsandsense (this is more focused on general personal finance but they have some good stuff on SREITs now and then) and financialhorse.

in terms of SREITs i think the industrial sector is probably the safest bet in these conditions, Ascendas would be the blue chip pick there in my view (disclosure: i have a long position in Ascendas).

obviously the hospitality and retail sectors have been absolutely hammered so value could emerge there, but probably still too early to risk doing anything more than dipping a toe into those sectors right now. the one i'd really like to pick up is Mapletree Commercial (despite its name, it's primarily retail sector, not commercial sector), but that had a huge run up to nosebleed levels prior to the crisis (something like 1.6x NAV IIRC) so even with the pullback i still don't think it's cheap enough yet.

and even more obviously, the healthcare sector has held up extremely well. i'd like to pick up Parkway Life but i think it's just way too pricey right now. there was a very small window (less than a day) to grab it for around 2.55 a few weeks ago, which in my eyes is a bit of a resistance turned support level, but i missed that window, and now it's well over 3 again.

 

[wayneL]

Just sayin'... This is one of the best threads on ASF for a very long time in my opinion.

I have been... Well, pretty f3ckin well off twice and then down to my last $1,000 twice in my life, with the light at the end of the tunnel very much looking like a train coming the other way.

It's not something I really like to talk about very much, but I will say that if one has the cajones - and it's amazing how you will grow a set if you really need to - you can come out of it with new knowledge and new appreciations for what is really important.

As a result I'm very well insulated from any economic effects of covid. I am nowhere near as wealthy as I have been previously in absolute terms, but I I feel much richer in many other ways.

I guess my idea here is that I like a really great things in life are not necessarily financial. Money is a great thing and it lubricates a lot of other stuff, but.... well, I think they're are important philosophical lessons in Montaigne's Essays, which are really applicable even today.

FWTFIW

 

[barney]

I am nowhere near as wealthy as I have been previously in absolute terms, but I I feel much richer in many other ways.

Beautifully said Mr Wayne ….. Like yourself and many others, I have been staring down the barrel of:-

WTF did I just do, and how the hell will I ever recover … more than a couple of times!!

Fortunately I'm still in the game (and that's what it is in reality; a game!) ….

How are you still in the game some randomly disinterested person may ask

Simple ….

Be honest (with yourself and others) and learn from your mistakes.

Doesn't mean you will come out the other side a squillionaire (I'm certainly not … yet)

And the most important piece of the puzzle … Marry a good woman!!

 

[tech/a]

Stop playing the “ Game “
And start running the business
Rot starts at the top
Everything else starts at the bottom.

 

[wayneL]

Stop playing the “ Game “
And start running the business
Rot starts at the top
Everything else starts at the bottom.

In my case it was nothing to do with "the game", in both cases it was the externalities (to borrow the term).

Just like @Sdajii , shxt well outside of our control can take us out.

 

[tech/a]

Not directed at you Wayne

Been there too
Twice
Never again.
Debtors who go broke pulling down good businesses
Down with them is a pet peeve.

 

[wayneL]

In my case it was nothing to do with "the game", in both cases it was the externalities (to borrow the term).

Just like @Sdajii , shxt well outside of our control can take us out.

Here is an example, a client of mine is involved with a family business, a very high turnover restaurant in central Sydney, been going for 70 years or something like that.

It's going to go under.

Although a huge financial hit for them they will be ok cause they have other income streams in the medical field. But imagine if that business was all hey had.

another fellow I meant the other day a friend of a client is dropping $20,000 a month in commercial leases. He is surviving but if it goes on for too long he's farked.

 

[wayneL]

Not directed at you Wayne

Been there too
Twice
Never again.
Debtors who go broke pulling down good businesses
Down with them is a pet peeve.

Oh yes that's it typical thing I know heaps of people taken out that way, that really sucks

 

[sptrawler]

In my case it was nothing to do with "the game", in both cases it was the externalities (to borrow the term).

Just like @Sdajii , shxt well outside of our control can take us out.

That is so true.

Untill you have been there, it is hard to imagine, but one bad accident can dictate the rest of your life.

 

[InsvestoBoy]

Just wanted to say thanks to @Sdajii and @Sharkman for being so open and sharing their stories.

 

[barney]

Stop playing the “ Game “
And start running the business

(Certainly not directed at you personally Tech, but your post gave me reason to clarify)

My suggestion that IT is a game, could possibly be misinterpreted.

When we are all 6 feet under … (and we will all end up 6 feet under )

Everything we aspired to in the 'here and now', and possibly think,

"How clever was I to achieve such greatness with my brilliant decisions …

(Slash, opposite if things didn't/don't quite go to plan)

Will all mean "jack sheet" !!

I repeat ….

Life is a game … the fact that some of us are fortunate enough to enjoy playing the game, plus be often rewarded for our apparent good "game playing", is often (if not always) a random stroke of good fortune for which we should be thankful.

If I am starting to sound like a Buddhist ….. Well I have been putting on weight lately

 

[tech/a]

I’m under no illusions

Luck has been the major driver in my lifetime.

The one thing I know I have been able to control
Is my ability to recognise —- delve and take action
On being in the right place at the right time
Or the right place at the wrong time.

it isn’t a game to me
It’s a life one I enjoy and don’t think I waste.

 

[barney]

it isn’t a game to me. It’s a life one I enjoy and don’t think I waste.

I have no doubt about that Tech

The word "Game" was probably not the best word for me to use above, but not to worry.

Without going into too much introspection ... my intention was to highlight the importance of:-

Appreciating the most important aspects of what we have 'in now time', rather than concerning ourselves with how we are going to cope in the future ... when in reality, most of our future's will likely be way different to how we perceive them to be at this point in time.

Anyway, I digress and don't wish to lead the thread too far off its track. The OP question of being "stripped of everything" probably has a much wider group of participants with experience of that very event than many might realise.

 

[tech/a]

With $10000 to $50000 per quarter per business available
With Job seeker payments bank deferments extremely low interest rates.
There is never a time in crisis when so much help has been available.

While I do sympathise
I certainly question the ( even short term ) viability of these companies or business going under
Straw and camels come to mind.

 

[qldfrog]

With $10000 to $50000 per quarter per business available
With Job seeker payments bank deferments extremely low interest rates.
There is never a time in crisis when so much help has been available.

While I do sympathise
I certainly question the ( even short term ) viability of these companies or business going under
Straw and camels come to mind.

Not my case but help or not, any restaurant,or accomodation, tourist related business started in the last 12 month is facked and that means usually all the initial setup cost which can mean lifetime savings for many
I am not as harsh as @tech/a
Some people just got wiped with no lack of business acumen
I am not crying but how do you think anyone can provide services O/S when it is hard to even cross state borders
Current issues are disproportionately affecting niches and sectors while many tradies for example are not affected at all, it is not, yet, an economic recession in that sense.

 

[tech/a]

Not my case but help or not, any restaurant,or accomodation, tourist related business started in the last 12 month is facked and that means usually all the initial setup cost which can mean lifetime savings for many
I am not as harsh as @tech/a
Some people just got wiped with no lack of business acumen
I am not crying but how do you think anyone can provide services O/S when it is hard to even cross state borders
Current issues are disproportionately affecting niches and sectors while many tradies for example are not affected at all, it is not, yet, an economic recession in that sense.

Yes certainly the Tourist Industry. One of those I mention is a travel agent. But even so I still question why they cant survive (a 2 person operation).
Rent from the $20-50K govt assistance.Job seeker for the Principal and the employee. Plus if there was profit you could top up or up your own with some super and so too the employee.
Top up of $250 a week is only $6000 in 24 weeks (If a travel agent hasn't got $6K savings---WTF.)
I agree there is a disproportionate few sectors bearing the brunt. But 80% are still going and holding up the rest. Some of us dont and wont qualify for Job seeker
as we continue to pay our staff and complete our projects. Sure we too may find ourselves falling off a cliff but we and our staff will survive. There are many like us.

 

[qldfrog]

Travel agent should close, it might be a year before international travel restarts if it does
Do you go to a travel agent for a return to Sydney or Darwin
They should close and avoid wasting their assets, sure get jobkeeper while you transition to s new job/business