$$$ KPO and CZM $$$: April 2022

Thursday, April 7, 2022

Portfolio - March 2022

Our portfolio is performing well with LUNA at an all-time high again but our health was not so great last month. All 3 of us fell sick/got injured and had to see different specialists -.-" Baby Ong was having fever, coughing with lots of phlegm and we went to see a PD. CZM had an eye infection after Baby Ong accidentally poked her eyes and we went to see an eyes specialist. I have been having headaches daily for the last 3-4 weeks (even until now) due to scalp boils and had to see a dermatologist. We probably spent more than 1k seeing doctors in just a month.


Total: $4,277,975
Leverage/Debt: $1,127,400
Gearing: 35.78%

Yes, it went up by another million and it is getting unbelievable/crazy. With our portfolio growing bigger, access to leverage becomes cheaper and easier. I am now an accredited investor and my wealth lending interest got lowered. lol. The next goal is to get a priority private banking relationship (SG$1.5 m) with SCB so that the interest can be lowered further.

Anyway, I can only attribute these to crypto and the use of leverage. I guess I am not the average financial blogger because most would stay away from both but we actually manage to build our wealth and plan our retirement using both. In my opinion, these are tools available at everyone's disposal and one should not dismiss them without spending the time and effort to understand them first. Having said that, I do acknowledge whatever we are doing is definitely much riskier and all roads lead to Rome so just do whatever you are most comfortable with.

Our Passive Income - Dividends

Dividends for this month: $9,803.40
Total dividends collected for 2022: $13,789.93
Average dividends per month for 2022: $4,596.64

Our Passive Income - Anchor Earn

Estimated iInterest for this month: US$4,911.28 (~SSG$6,663.13)
Total interest collected for 2022: $17,060.13
Average interest per month for 2022: $5,686.71

Total passive income for this month: $16,466.53
Total passive income collected for 2022: $30,850.06
Average passive income per month for 2022: $10,283.35

The best part is these are all tax-free :) Technically, our passive income is much higher but I excluded staking yields and LP rewards because they are much harder to track and I have been using staking yields for buying NFTs. lol.


So we off-ramp another 100k USD and were lucky to scoop some iShares HK Tech ETF near the all-time low which was the day before the China govt intervened with some good news. We also bought some China banks because the rising interest rate will be good for the banks but our SG banks are at an all-time high so the China banks seem more attractive. 

The rest of the stocks were purchased using leverage:
- CapitalandInvest - They declared dividends and we decided to accumulate more
- Frasers Centrepoint Trust - We have a lot of CICT and Mapletree Commercial and wanted to diversify
- Suntec REIT - This was still relatively cheap/undervalued compared to the pre-COVID period
- ICBC - We wanted to diversify away from CCB and BOC
- The remaining should be averaging down our existing holding

The idea of using leverage is simple, borrow the money, buy a good/excellent REIT/stock, use the dividends to pay the interests, and keep the difference while ensuring that we will never get a margin call/trigger. Once again, leverage has its risk and is definitely not for everyone. We see it as our way of buying a second property without incurring any of those taxes (ABSD, rental income tax, etc.). You can take a look at this - Leverage Performance 2020.

These are the top 10 stocks in our portfolio.

Total: $1,782,313.49
Leverage/Debt: $529,566.68

If you are interested in the smart portfolio tracker (StocksCafe) which I am using as shown above, sign up using my link for a longer trial period :) Refer to our Referrals page for more information.


Capital: $60,764.13
Current: $66,174.69

I decided to invest my CPF OA last year and blog about it here - Investing CPF OA Through Endowus

If you are interested in Endowus, do use our referral link for our readers! You will get S$10,000 managed free for 6 months ($20 equivalent) and we will get $20 too! This access fee has no expiry date.


Capital: $6,000.00
Current: $6,111.11

The only remaining portfolio with StashAway is CZM's SRS. No plan of doing anything at the moment.

If you are interested in StashAway, do use our referral link. You get $10,000 free management fees for 6 months and we will get $16!


It is getting quite crazy with LUNA reaching price discovery and hitting an all-time high. We are now crypto multimillionaires with a total of ~12k LUNA now.

Total excluding NFTs: $2,423,375.59
Leverage/Debt: $597,833.11

Besides buying LUNA, I also bought some RUNE, ASTRO, MARS and PRISM last month. ASTRO is interesting because of the potential Astro war in the future (similar to Curve war) and it is my 3rd biggest bag now. MARS got sold off too heavily and I decided to buy some when it was trading around US$0.69. PRISM is the most interesting Terra altcoin at the moment because of the potential to earn >30% staking yield from LUNA. These Terra applications are far from delivering/launching all the features so I do think they have a lot of potentials.

Didn't do anything new on the Cosmos side. Saw that there was some JUNO drama going on but couldn't really be bothered. I have been collecting the yield and restaking them for most of those coins.

You can refer to our crypto portfolio (except for CZM's retirement Anchor) on Ape Board for a more detailed breakdown of how we DeFi although you wouldn't see all of it because some of my coins are still with the exchanges.

These are the top 10 coins in our portfolio.

For those wondering, I have actually spent about ~US$17k (SG$23k) on NFTs (it is definitely much lower but it is so high due to LUNA price increase). Regardless, I have made a realized profit of ~US$1.5k with an unrealized profit/value of US$75k. The valuation is pretty conservative because I have taken the floor price of each project except for Galactic Punks and HellCats where I have rarer collections. 

One of the crazier things which I did last month was spending US$5k on purchasing this cat. lol.

To put it simply, all the NFTs have different traits. The one which I purchased has the "Ripped Denim" clothes where only 3.44% of the cats have this particular trait and the cheapest one now cost 68 LUNA (~US$7.5k). This is why it is relatively conservative to value them at the floor price. The rarer one will be valued at a different floor, in a league of their own but still conservative. Maybe I should apply Dr Wealth's CNAV strategy and discount them even further by another 50% and include their valuation in our portfolio. Hahaha. 

My most valuable NFT will be this Galactic Punk that comes with a glitch valued at 200 LUNA (~US$22k). lol. Diamond hands until it reaches 6 digits!

Anyway, I have blogged about different ways to leverage crypto to build wealth for people with different risk appetites:

If you are interested in the platform I am using, do sign up using our referral links for some bonus :)
BlockFi: Deposits US$100 or more into your BlockFi Interest Account (BIA), you will earn US$10 in BTC and we will earn US$10 in BTC too.
Celsius Network: Earn US$50 in BTC with your first transfer of US$400 or more and we will earn US$50 in BTC too.
CakeDeFi - Deposits US$50 or more into your CakeDeFi account, you will earn US$30 in DFI and we will earn US$10 in DFI too.
Gemini: We will both receive US$10 of bitcoin after you buy or sell US$100.
Crypto.com: Sign up using our link, stake SG$500 worth of CRO and we both get US$25 in CRO
FTX: We will receive 25.00% of your trading fees and you will receive a 5.00% fee discount on all of your trades.

On a side note, Futu's moomoo app is giving free SEA share for their sign-up promotion. Do read the T&C here for more information. If you have yet to open an account, you can do so using our referral link :)

Accidentally clicked on the annoying ads? Let me thank you in advance as you are indirectly doing good as we will be Donating 100% Ads Revenue Going Forward!

You might be interested in these blog posts too:
2021 Net Worth
Our CPF 2021
Portfolio - December 2021 - $2,100,909
Portfolio - January 2021 - $2,307,446
Portfolio - February 2022 - $3,333,706
- Portfolio - March 2022 - $4,277,975

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