A few honest paragraphs each month — what we did, what we didn’t, and why.
Past notes live in the factsheets →We did very little this month — which is usually what doing our job looks like.
Nothing new met our standards, so cash stayed where it was. We trimmed one position that had run ahead of what the business is worth, and added modestly to a holding the market marked down for reasons that have nothing to do with its cash flows.
The portfolio remains concentrated, liquid, and entirely visible under your own account — the full detail is in this month’s factsheet.
[Placeholder note — Keith writes this monthly. Not investment advice.]
Every client account holds this — the same concentrated portfolio, updated here each month.
[Snapshot figures placeholder — update monthly from the factsheet.] Composite figures in SGD, net of fees. Past performance is not indicative of future results.
“Fees I can explain in one sentence, and holdings I can see any morning I care to look.”
“The first manager who told me what he wouldn’t do with my money before what he would.”
“When markets fell, he called us before we thought to call him.”
[Placeholder quotes — replace with real client words, published only with written consent and compliance approval. Individual experiences; not indicative of future results.]
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