Libor Vasa @liborvasa: "Dear Followers, Dear Copiers, With the..."

Czech Republic

Dear Followers, Dear Copiers, With the final month of the year behind us, it's time to look back not just on December, but on 2025 as a whole. In December, the portfolio grew by 0.68%, which effectively offset November’s loss, bringing the total annual return to over 21%. Considering the level of risk we took on, this is a very satisfying result. It also means we outperformed the $SPX500, which rose by 16.39% in 2025 — a solid benchmark to beat. This also marks the second-best yearly return in the past five years, highlighting the strength and consistency of the strategy even in uncertain conditions. Among the most notable trades in December was the closure of the $U (Unity Software Inc.) position. After being opened four months ago, the stock had appreciated by over 16%, which I considered a good point to take profits. On the other hand, $SONY (Sony Group Corp.-ADR) stock declined during the month. I saw this as a buying opportunity and opened a long position on December 11th. While the stock has continued to slide since then and the position is currently in the red, I remain confident in the company's long-term prospects and am even considering increasing the position if conditions remain favorable. As we enter a new year, it's clear that global political developments will play a major role in shaping market behavior. Frankly, the level of unpredictability we’ve seen recently has exceeded even my cautious expectations. Still, I believe that reason and cooperation will ultimately prevail, and I remain optimistic — both for the markets and for the broader world. As we look to the future, one of the most significant challenges — and opportunities — we face is the growing influence of artificial intelligence. There’s little doubt that AI will have a major impact on the labor market, changing the nature of many jobs and potentially displacing others. But despite these shifts, I remain deeply optimistic. Throughout history, people have always found new ways to create value, support one another, and improve the quality of life through collaboration, creativity, and innovation. Human work — in all its forms — will continue to matter. It may evolve, but it will never become worthless. To all of you — followers, copiers, and fellow investors — I wish you a peaceful and successful start to 2026. May reason guide our leaders, and may green numbers guide our portfolios. Best regards, Libor Vasa

Not investment advice. The author may have financial interests in the mentioned instruments.

3 Mentioned

SPX500

SPX500 Index (Non Expiry)

Unity Software Inc.

SONY

Sony Group Corp.-ADR

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