Investing

This section documents my U.S. equity research, actual positions, and trade reviews.

After several years of doing this, I have come to believe one thing: stock selection determines how much you can make; position sizing determines whether you survive. The writing here therefore has two halves—what to own and how to trade it.

1. Investment Research

My main areas of interest are:

• Semiconductors — memory, logic, and equipment
• AI infrastructure — data centers, compute, and storage
• High-growth technology companies — changes in business models and valuation frameworks

Research posts focus on company fundamentals, industry cycles, and valuation logic. I care less about a single price target than about which framework the market is using to value a company, and when that framework may change.

2. Trading System

Most losses do not come from getting the direction wrong. They come from position sizing, execution, or emotional control. This section records the method, not merely the ticker:

• Position sizing — separating core and event-driven positions and setting single-name limits
• Execution — scaling in, scaling out, and why trying to sell the exact top is a mistake
• Trend assessment — distinguishing a real breakdown from market noise
• Trading discipline — writing rules and preventing exceptions in the heat of the moment

I try to explain where every rule came from—the specific trade or mistake that produced it. Trading slogans detached from context are not very useful.

I am especially willing to review trades where the thesis was right but the execution was wrong. Prices expire; the reasons behind a decision do not.

All Investing Posts

• Micron FY2026 Q3 Earnings: This Is More Than Another Memory Pricing Cycle
  Behind $41.5 Billion in Revenue and an 84.6% GAAP Gross Margin, Long-Term Agreements Are Rewriting the Cycle
  2026-09-03
• I Picked the Right Stocks—So Why Couldn’t I Hold On to the Profits?
  After Reviewing 19 Exits in MRVL, SPCX, BMNR, and SNDK, I Rewrote My Position-Sizing Rules
  2026-08-24
• SNDK Investor Day 2026 Review: Valuation Re-Rating and Scaling Out
  Do Not Try to Sell at the Exact Top—A Complete Review of One SNDK Trade
  2026-08-14

The investing posts document my own research, judgment, and real trades. They are not investment advice. See About Me.