One way that I have been looking to generate passive incomes is to invest in stocks myself, without going through a stockbroker. Some may say that’s very risky, whereas I come with the point of view that any money lost will just be very expensive tuition fees for lessons from the stock market. Fortunately, after about 5 years of getting my hands dirty in the stock market, I have been turning in a pretty decent profit and annual dividends – definitely not the best of returns, but considering I started from scratch and was learning along the way, I’m quite pleased to learn to be calm even amidst the stock market turmoil even in this COVID-19 times.
How I keep track of my stocks is to use StocksCafe. I have tried a number of platforms early on and settled on StocksCafe for the long term, because Evan has been working very hard on improving the capabilities. So since 2016 when I first started investing, I have shown my support by committing myself to be a lifetime Friends of StocksCafe. Don’t think this option is available anymore (as explained here), so I would say that the $200 membership fee is thus far the best investment I have made so far!
What I like most about StocksCafe is its ability to track my dividends and even give me a sense of my projected dividends for the rest of the year. There are also other metrics to look at, such as current yield and cost yield, if you are really consider yourself a dividend investor. The daily reports also give a good sense of the progress of your portfolio over the years, and you can compare your time-weighted returns against STI or other benchmarks. I would not say that this platform is sufficient for all your investing needs, because there is a Friends page to constantly report bugs and features for Evan to work on and improve the platform. But it is a good base to start with, and you can use other tools like Simply Wall Street to complement your understanding of various companies out there.
Over the next posts where I will definitely talk about stocks at some point, and also the shares that I am holding on to, I will be sure to include more about how I use StocksCafe and have benefited from it. But meanwhile, here’s a look at the StocksCafe portfolio, which comprises a mix of US and SG stocks.
Any questions or comments on my portfolio? Will be useful for me to consider as future posts!