Zechariah Bin Zheng @FundManagerZech: "𝗔𝗻𝗼𝘁𝗵𝗲𝗿 𝗢𝗻𝗲 𝗧𝗮𝗸𝗲𝗻 𝗣𝗿𝗶𝘃𝗮𝘁𝗲: 𝗪𝗵𝘆..."

Australia

𝗔𝗻𝗼𝘁𝗵𝗲𝗿 𝗢𝗻𝗲 𝗧𝗮𝗸𝗲𝗻 𝗣𝗿𝗶𝘃𝗮𝘁𝗲: 𝗪𝗵𝘆 𝗪𝗲 𝗞𝗲𝗲𝗽 𝗙𝗶𝗻𝗱𝗶𝗻𝗴 𝗗𝗲𝗮𝗹𝘀 𝗢𝘁𝗵𝗲𝗿𝘀 𝗠𝗶𝘀𝘀 𝗧𝗟;𝗗𝗥 🏢 Sold PGRE after a 30% gain — upside capped after take-private deal. ₿ Crypto trimmed, sizing small, still cautious on ETH and DATS trend. 📈 Market highs mean we lag for now — Beta ~0.3–0.4 makes us uncorrelated. Survival first, offense later. If you haven’t yet, catch my chat with @Bees84 — we’ve known each other for ages and finally hit record: www.youtube.com/watch?v=prEn3cnRAZc 🏢 𝟭) 𝗣𝗮𝗿𝗮𝗺𝗼𝘂𝗻𝘁 𝗚𝗿𝗼𝘂𝗽 ($𝗣𝗚𝗥𝗘) — 𝗮𝗻𝗼𝘁𝗵𝗲𝗿 𝘁𝗮𝗸𝗲-𝗽𝗿𝗶𝘃𝗮𝘁𝗲 We’ve now sold out of Paramount Group ($PGRE) after it agreed to be acquired by Rithm Capital for $6.60 per share in cash, valuing the company at around $1.6 billion. Closing is expected later this year. This is another example of a theme that runs through our portfolio. I may hold the record among Popular Investors for the most privatizations. That’s because we deliberately seek out opportunities that most people overlook — stocks where the market price doesn’t reflect the value of the underlying assets. Eventually, private buyers come in and validate that view. For PGRE, we bought because of its strong real estate portfolio trading too cheaply. That worked: we’re up around 30% on the position. But with the deal set, the remaining upside is just 1–2%. That’s not worth the risk in a market like this. Better to bank the gain and move on. ₿ 𝟮) 𝗖𝗿𝘆𝗽𝘁𝗼 — 𝗰𝗮𝘂𝘁𝗶𝗼𝘂𝘀 𝗯𝘂𝘁 𝘀𝘁𝗶𝗹𝗹 𝗽𝗮𝗿𝘁𝗶𝗰𝗶𝗽𝗮𝘁𝗶𝗻𝗴 Crypto continues to swing. The recent sell-off in Ethereum ($ETH & $BTC) ooked driven by liquidations, not a fundamental shift. Since we had already cut exposure, the volatility doesn’t hurt us much. If ETH bounces, we benefit; if it drops further, the smaller sizing protects us. That said, I remain uneasy about the rise of Digital Asset Treasuries (DATS). These create short-term demand but don’t actually build real value into the system. To me, it’s speculation dressed as adoption. That’s why we stay cautious, keeping exposure limited but still engaged. 📈 𝟯) 𝗟𝗶𝗳𝗲 𝗮𝘁 𝘁𝗵𝗲 𝘁𝗼𝗽 — 𝘄𝗵𝘆 𝘄𝗲 𝗳𝗼𝗰𝘂𝘀 𝗼𝗻 𝘀𝘂𝗿𝘃𝗶𝘃𝗮𝗹 We’re at all-time highs for $SPX500 $NSDQ100 and I want to stress something for newer followers: these are usually the points where I expect to 𝐮𝐧𝐝𝐞𝐫𝐩𝐞𝐫𝐟𝐨𝐫𝐦. That’s because our strategy is built for protection first. We tend to outperform when markets struggle — like late last year or early this year when volatility spiked, and our portfolio was steadier than most. This ties into the idea of Beta — a measure of how closely we move with the market. A Beta of 1.0 means you track the index exactly, 0 means no correlation, and above 1.0 means even more volatile. On Bullaware, our Beta sits around 0.3–0.4, which means we’re far less correlated with the S&P 500 or Nasdaq. That explains why yesterday we were up while the market was down, but back in January, when indexes surged, we only gained modestly. It’s not about timing — it’s about structure. Our portfolio is designed to be different: opportunistic, less correlated, and always focused on surviving first, then thriving when the tide turns. 𝗜 𝗰𝗮𝗻’𝘁 𝗽𝗿𝗲𝗱𝗶𝗰𝘁 𝘁𝗵𝗲 “𝗯𝗲𝘀𝘁 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗰𝗼𝗽𝘆.” Sometimes catalysts hit overnight — an oil & gas rerating, or another shipping stock going private like PGRE. What I can say is: if markets keep rising, great, we participate. If they fall, we have cash ready to deploy and can go aggressive when the odds are in our favor. Stay Safe everyone