Portfolio Update

YTD: +324%

It’s been an incredible month. Since the last update (only 10 days ago), the portfolio has surged thanks to Alibaba, Baidu, and the broader rebound in China tech.

As of today, the portfolio is +320% YTD and +140% over the past week…

Obviously, returns like this aren’t sustainable over the long term. I don’t expect to keep compounding at this clip. But when you get moments where the market misprices something as badly as it did with Alibaba earlier this year, you take the swing.

This just happened to be one of those times where the thesis lined up and the timing worked.