2022 YEAR-END NOTES

I have just concluded my investment return in 2022.
The return for the year is 17.8% while IDX returns 4.1%.

I’d remind the readers not to read too much into 1-year result but rather look at the longer term horizon of at least 5-10 years cycle.

A Tale of Two Worlds in 2021

• The world is still being mostly locked down by Corona Virus, mainly by its upgraded version, Delta.  However, it is transitioning to the endemic of living with Covid-19 with vaccination.
  In most developed & emerging countries, the vaccination rate is over 50% (Pfizer, Moderna & Sinovac being the most common vaccines).
  
• By year end, those countries have opened up to travels although the progress is stalled by another Covid version, Omicron.
  Omicron emerges in end-Nov and started spreading fast in Dec.  So far, it seems to spread more easily but doesn’t cause more severe illness.
  
• For stock market, it is a tale of two worlds.
  One world is represented by US and the other by China.
  S&P rocketed by over 20% while HSE plunged by over 10%.
  Although the GDP growth, not much different at 4-7%.