Another high beta ripper. We enjoyed returns of +78bps crossed against the SPY +59bps. YTD our gains fast approach 3%, which is always a nice thing to have. God willing, we will not be encumbered by an asymmetrical terror-ride to the downside, like last year’s clown show. Chips are the big standout, but not the...Read More

The Vera Rubin is going to have way more inferencing power and is far more efficient than Blackwells. As a result, we are seeing ancillary AI plays selling off whilst the semis remain robust. The memory market, spearheaded by SK Hynix, Samsung, Micron, Seagate, Western Dig and Sandisk is white hot, due to shortages. Said...Read More