Added SATS to SRS portfolio

After the bloodshed edition Feb 2020 portfolio update, we continue to witness the financial markets in turmoil. Stocks and Reits experience series waves of sellsdowns and dead cat bounces. 

In Feb, I was hoping to be able to add SATS below $4.10. Amazingly the share price of SATS is able to pierce through the multiple layers of support at $4.00, $3.85 and $3.70 levels. And it will possibly plunge to even lower levels in weeks to come. 

SATS has announced pay cuts for their management and warned about the significant impact of the coronavirus on their bottom lines in Q4 2019.

Nevertheless, I stuck to my plan and added 1,500 shares at $3.69 to increase my holdings to 4,000 and lower the holding cost to $4.22. This is my little investment effort for the ultra long term using the 30 years locked up SRS funds. 

My long term plan is to add at least 1,000 shares of SATS and 1,000 shares of OCBC every year for the next 30 years using the $15.3k SRS top up amount.

I believe that a new economy cycle will begin after this virus situation followed by months of recession. Coronavirus and travel bans will not persist forever and will eventually end. In today's modern age, humans cannot do away with flying on planes for holidays and work, and may in fact travel even more to clear leaves once the situation improves. SATS will always be the leading ground handling, aviation food and gateway services provider in Changi Airport and across the region. I am confident it is a good business to invest for the ultra long term and Changi Airport T5 in 2030s will be a catalyst for SATS to grow.

Thanks for reading! Happy shopping in this lifetime opportunity!

With Love & Peace,
Qiongster