Hi All
Our portfolio as well as US tech as a whole (especially semiconductors) have experienced a correction this month, with Micron for example down 24%. This is despite blockbuster earnings coming from Micron last month which I commented on in the post. I also conveyed my opinion in the past few months how semiconductors look overvalued despite multiple times expansion in the bottom line due to many-fold increases in the average selling price of RAM and SSDs. The million dollar question is whether AI demand will continue to prop up memory prices or will the cyclicality of semiconductors come back stronger than ever and bite investors in the back in the next few years. As a result, my Micron position was trimmed significantly and much profit was taken to re-invest in companies with less lofty valuations and better fundamentals aligning with my value-investing principles.
Despite the correction this month, I am happy with the portfolio mix as it is, and believe it is well positioned for long-term growth, as well as prudently constucted should there be further headwinds in the US tech space. ... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
Fantastic work on Micron Baichuan. I think your move to trim some profits from this position was wise. ... Show More
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