Hi everyone,
No portfolio earnings to report just yet, we will have to wait a few more days for the first one, followed by a busy schedule of earnings over the next four weeks.
At the moment, there isn’t much to discuss. The buzz around DeepSeek and its impact on U.S. big tech stocks has dominated the conversation, with those stocks plunging into the red and raising questions about valuations. Fortunately, this had minimal impact on our portfolio since only about 3% is allocated to big tech. In fact, our large-cap value U.S. ETF ended Monday’s meltdown in the green, while our small-cap ETFs had an average day. As I mentioned heading into this year, we don’t have any valuation concerns, unlike the S&P 500 and Nasdaq 100, which now face deep concerns over AI-related valuations.
Moving on to routine adjustments: the yield spiked again, so I executed the usual swap between the 20-year and short-term treasuries. These swaps are straightforward and result in safe gains. I expect the 20-year treasury position to eventually pay off in full, and in the meantime, we benefit from these trades.
Following up on the last update, the process of consolidating positions is now complete, and I only anticipate closing out profitable trades in the coming months.
On a bright note, Roku, our largest stock holding, shared some exciting news. As of the first week of January 2025, Roku has surpassed 90 million streaming households, up from 85.5 million in October. Roku is now present in nearly half of all U.S. broadband households. They have strong momentum, and it’s only a matter of time before they begin to capitalize on it (or become an acquisition target, whichever comes first). We are heading into the earnings season ready to buy any unwarranted dips in my high-conviction stocks, with $U (Unity Software Inc.) and $ROKU (Roku Inc) being a priority.
As always, thank you for copying.... Show More
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Fri Nov 14 2025 13:33:16 GMT+0000 (Coordinated Universal Time)
