Hi, Investor! 👋🏼
One of the biggest advantages of writing on Substack - and, even better, structuring it as a journal - is that you can (i) bring more clarity to your own thinking as you write and (ii) revisit those thoughts at any time to understand what your thesis was back then, and why you ultimately got it right or wrong.
The truth is, we’ve been putting a tremendous amount of effort into creating the best content we possibly can right now, while also spending a lot of time reflecting on our long-term positions.
And after our three recent pieces/reflections on AI - Winners Keep Winning, The Memory Supercycle, and, most importantly, GPUs, ASICs, and the Real ROI of AI - we came away with a few different interpretations of the signals the market has been sending us.
By the way, if you’d like to check any of them out, the links are below.
After a lot of reflection, we decided to act.
In total, we initiated two new positions and made several trims, with the rationale behind each move explained below.
If you want access to all our buy and sell transactions, our real-time portfolio (+33.7% CAGR 4Y), in-depth research on high-quality companies, stock ideas, and much more, upgrade your subscription to Jimmy’s Journal Pro and get full access immediately.
Click the link below and join hundreds of long-term investors already part of our community for just $1.10/day - or $397/year.
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