Having spent two grueling months sharing my thoughts on *RISK* management, and avoiding crowded themes — then watching as some of our Core themes/positions went UP during July’s momentum crash, overall I’m proud of the hard work we’ve done, and what we were able to achieve so far.
MSFT posted its best day in 18 years, and its best week in 27 years. The stock was up 25% in July, a strong portfolio addition.
AMZN posted its best day in 14 years, and its best week in 11 years. The stock was up 14% in July, another solid addition.
A few companies and groups are beginning to LEAD the “race to ROI” — and earnings results are validating their strategy.
The market is sending a loud and clear message: AI winners will be rewarded. As will their investors.
Momentum chasers could suffer BIG losses, triggering more outflows and deleveraging.
Patient investors focused on holding Quality and Low-volatility stocks could shine.
Who will win this year — the Tortoise or the Hare?
The Race is ON.
A LOT of positioning is offsides across many key markets.
History may have quite a few tricks up its sleeve (for those who want to study it).
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