🔥FIRE with Ivan🔥

The worst of the Middle East war may be behind us 🌍, and markets are back near all-time highs 📈. But this is exactly where investing becomes tricky 🤔. Is this a true recovery, or just a relief rally? 🎢 Did fundamentals really improve, or did options-expiry flows and short-covering amplify the rebound? 📉📈 And should investors chase the market now, or review their portfolio more carefully? 🧐 I wrote my latest article to share how I am thinking about the current market, retail investor behaviour, and what this new environment means for portfolio positioning 📝. 🔗 Read the full article here If you find it useful, feel free to share it with your family and friends 👨‍👩‍👧‍👦.

Small "Lucky Vicky" moment today. Daughter showed it to me. 😄🍀 Small story, strong mind. Like hunting in market. Hope it speaks to you. https://www.instagram.com/p/DX1kmjqGN0a/?igsh=MTZhdTE3eXIyZHh4OQ==

Had a small “Lucky Vicky” moment today — and surprisingly, I learned it from my daughter 😄🍀 Simple story, but powerful reminder about mindset… especially when it comes to markets and investing. Sharing this, hope it resonates with you: https://www.instagram.com/p/DX1kmjqGN0a/?igsh=MTZhdDE3eXIyZHh4OQ==

6 MTHS SITB AUCTION TODAY Tenor: 6-month Issuer: Republic of Singapore ISIN: SGXZ94600384 Code: BS26108W Amount: S$8.4 billion Auction Date: April 23, 2026 Settlement: April 28, 2026 Maturity: October 27, 2026 Cut off yield: 1.40% Avg yield: 1.30%

Singaporeans are lucky. We need applause for the government's foresight. After energy criris, it will be food crisis.

6 MTHS SITB AUCTION TODAY Tenor: 6-month Issuer: Republic of Singapore ISIN: SGXZ11188257 Code: BS26107X Amount: S$8.4 billion Auction Date: April 9, 2026 Settlement: April 14, 2026 Maturity: October 13, 2026 Cut off yield 1.47%pa Average yield 1.35%pa Bid to cover ratio 1.74 Competitive Applications at Cut-off Allotted 22%

Love this. 😂

🚨 Iran War Ending Soon? Not So Fast. Trump now says the war could end in 2–3 weeks — no deal needed, just walk away once objectives are met. 💡 I already predicted in my client update in March that this "operation" likely lasts about one month — and we are now seeing exactly that play out. So yes, I was right on the timeline. But this is NOT the time to celebrate. Despite the potential US exit, Iran is not weak. They still retain missile capabilities and regional influence, and continue to disrupt key areas like the Strait of Hormuz. 👉 In fact, I think Iran now has more leverage than before the war: * Influence over oil flows * Strong geopolitical bargaining position * Keep global economy at hostage This means one thing: 🌍 The world can remain hostile even if the war “ends”! Markets may rally short term, but underlying risk is still there. 📊 My take: Stay disciplined. Don’t assume risk disappears overnight. If you find my sharing useful, share this channel and follow for more updates — I’ll continue to break this down as it develops. https://www.channelnewsasia.com/world/iran-war-end-soon-trump-us-6029616

📉 When the Magnificent 7 were leading the market higher, many said they were overvalued and would buy if prices became cheaper. Now these stocks are dragging the S&P 500 down, I wonder if the same people are buying. This is the hard part about investing. Everyone says they want to buy low, but when prices fall, fear takes over and suddenly “cheap” doesn’t feel attractive anymore. 💡 Opportunities rarely feel comfortable when they appear.

📌 One month into the US-Iran War, My quick take on the situation Trump wants the war to stop in a month, just as I predicted, but the problem is Iran now seems to have the upper hand. So the situation becomes much harder to control, because Iran has the say when to escalate or de-escalate the war now. That is why markets are still uneasy. For investors, this means a few things 👇 • oil prices can stay elevated for a while at the current level • inflation worries will start to spread • equities will remain volatile • bonds will lost its safe haven status in the near term as interest hike expectation is high 💡 My view: this is not the time to go all-in aggressively. It is fine to add selectively to high-conviction positions, but don’t assume the market will suddenly turn rosy overnight. In investing, we should always prepare for the worst, while still positioning for a better long-term future. Stay selective. Stay disciplined. And don’t underestimate geopolitical risk. ⚠️

If you want to be rich, you need to practice these 9 habits

It seems to me that Trump is running out of time. He is playing chicken now. 🐤

📢 Astrea VI Bond Fully Redeemed — What’s Next? Some of you may remember the Astrea VI private equity bonds that were launched about 5 years ago. Many investors in this community took part back then — and this has turned out to be a solid outcome 👍 Now, Class A-1, A-2 and about two-thirds of Class B have now been fully redeemed on 18 March, with investors receiving full principal + 0.5% bonus redemption premium 💰 💡 My take: The issuer is likely refinancing in today’s lower interest rate environment, so I won’t be surprised if a new Astrea bond is launched soon. Now the more important question: 👉 Where should you redeploy the proceeds? In today’s volatile market, it’s not just about finding yield — it’s about balancing income, risk, and flexibility across your portfolio. If you held this bond and are looking for how to redeploy the proceeds, click here to request a non-obligatory investment discovery meeting. If you want to a refresher how this bond works, you can refer to my earlier write-up here

6 MTHS SITB AUCTION TODAY Tenor: 6-month Issuer: Republic of Singapore ISIN: SGXZ59983908 Code: BS26105H Amount: S$8.3 billion Auction Date: March 12, 2026 Settlement: March 17, 2026 Maturity: September 15, 2026 Cut off yield: 1.37% Avg yield: 1.23%

🌍 Market Update: Iran War & Financial Markets The conflict between Iran and the US-Israel coalition has now entered its second week, with continued missile and drone attacks across parts of the Gulf region, including UAE, Saudi Arabia and Bahrain. Several energy facilities and shipping routes have been targeted, raising concerns about global oil supply. Market reaction so far: 🛢 Oil prices surged above $100, briefly touching close to $120 per barrel, as investors worry about disruption to the Strait of Hormuz — a critical route where about 20% of global oil supply passes through. 📉 Global equities turned volatile, with an initial sell-off followed by some recovery as markets assess whether the conflict will escalate further. 💬 My view While the headlines sound scary, history shows that market volatility caused by geopolitical events is usually short-term. Realistically, Iran does not have the economic capacity to sustain a prolonged war, even though it may escalate tensions in the region. At the same time, it is not in the US’ interest to drag the conflict, especially if higher oil prices start pushing inflation up again. What we are seeing now looks more like a short-term liquidity adjustment — investors taking profits or reducing leverage — rather than panic selling. ⚠️ The key risk the market is watching: If the conflict disrupts oil shipments through the Strait of Hormuz for an extended period, and oil prices stay above $100 for a prolonged time, it could push global inflation higher. For now, this looks like a volatility event — not a structural market breakdown. I’ll continue monitoring the situation and share updates if there are meaningful developments. 📊

📉 IP Rider Premiums Dropping — But There’s a Catch From 1 April 2026, new Integrated Shield Plan riders will be at least 30% cheaper, with one insurer cutting premiums up to 84%. Sounds great… but here’s the trade-off: • Riders can no longer cover the deductible (you must pay at least $1,500) • Co-payment cap doubles from $3k → $6k So yes — premiums fall, but out-of-pocket costs rise when you claim. The goal is to reduce overconsumption of healthcare and keep insurance sustainable. 💬 My take: Insurance should protect against big financial shocks, not every small hospital bill. Lower premiums are good — but make sure you still have cash reserves to handle the deductible and co-pay. This is a reminder to us that insurance + savings must work together. https://www.straitstimes.com/singapore/health/new-ip-rider-premiums-to-drop-at-least-30-per-cent-with-one-insurer-offering-a-84-per-cent-cut

Given the recent Iran crisis, it is a good time to look at historical energy prices level in the recent year.

Private credit has delivered strong yields in recent years, but this Blackstone news highlights the key risk: liquidity. When investors rush to redeem, funds may have to gate withdrawals because the underlying loans are illiquid. What worries me more is that more retail investors are entering these products without fully understanding what they’re getting into. Private credit can be attractive, but don't be over excited about if you are a Income Investor. https://www.cnbc.com/2026/03/03/blackstone-private-credit-fund.html

🚨 Middle East Escalation Flash Update – What Investors Should Know Over the weekend, tensions escalated after the killing of Iran’s Supreme Leader triggered missile retaliation across parts of the Gulf. There were temporary airspace disruptions, and oil prices jumped on fears of potential supply disruption. So far, here’s how markets reacted: 🛢 Oil prices up (geopolitical risk premium) 🪙 Gold higher (safe-haven demand) 📉 Global equities volatile, especially high-beta growth stocks 🛡 Defensive sectors (energy, utilities, healthcare) holding up better At this stage, markets are pricing in uncertainty — not a full-blown supply shock. 💡 My Take Geopolitical events usually create short-term volatility, not permanent market damage. The key risk to watch is whether oil supply routes (especially the Strait of Hormuz) face sustained disruption. If not, history shows markets tend to stabilise once escalation peaks. If you are my clients, you know you are safe because we are currently underweighing volatility and overweighing energy and gold. For other investors, this is a reminder: ✔ Stay diversified ✔ Avoid emotional reactions ✔ Understand the difference between volatility and structural change ✔ Focus on risk management, not headlines Volatility often feels scary in the moment — but it also creates opportunities when others overreact. I’ll continue monitoring developments and share updates and my opinions if the macro picture shifts materially.