$MNSO(09896)$ Trimmed position at minor profits 

$MNSO(09896)$ Market swing trading 

$Novo-Nordisk A/S(NVO)$ Added position 

$iShares Silver Trust(SLV)$ Added position 

$Novo-Nordisk A/S(NVO)$ Chased the good news and anchored low p/e

$iShares Silver Trust(SLV)$ Chased all time high 

$iShares Silver Trust(SLV)$ Chase the all time high 

$TRIP.COM-S(09961)$ Trimmed position for profits 

$Novo-Nordisk A/S(NVO)$ Chased the good news and bought at values.

$Venture(V03.SI)$ Trimmed position for profits 

$WUXI APPTEC(02359)$ Trimmed position at minor profits 

$MNSO(09896)$ Trimmed position at minor profits 

$PAX GLOBAL(00327)$ Buy the dip to dilute holding cost 

$FE HORIZON(03360)$ Buy the dip for market swing trading 

$HISENSE HA(00921)$ Opened position for dividend collection 

$CONCH CEMENT(00914)$ Closed position at minor profits 

$PAX GLOBAL(00327)$ I’ve been accumulating shares to lower my average cost basis. The company’s fundamentals remain solid.

Portfolio 2025 Performance - Total Profit: SGD 86,000 (an 18% gain)   - Dividends Received (YTD): SGD 26,000   Looking ahead, I anticipate a more moderate return in 2026—approximately 10% total, split evenly between 5% from dividends and 5% from capital appreciation. Strategy & Context: Riding the Fed Cycle   The attached performance chart begins in January 2022—the start of my deliberate, full-cycle investment campaign. The core idea was simple yet disciplined: capitalize on the U.S. Federal Reserve’s interest rate hike and subsequent cut cycle. When the Fed began aggressively raising rates, dividend-paying stocks—particularly in Singapore and Hong Kong—declined in price. At the time, I didn’t know the hikes would be "higher for longer," but that very unc