Portfolio Update
The market right now is pure madness.
Meme stocks are back, doubling in a week on nothing. Shitcos are ripping. Every day there’s some new junk company raising debt just to add bitcoin to the balance sheet and the stock takes off because… well, bitcoin only goes up, right?
AI mania isn’t slowing down either. OpenAI is reportedly being valued near $500 billion, and Anthropic’s closing in on $170 billion. They’re not even public yet, but based on those numbers, the market’s already treating them like future members of the trillion-dollar club.
And then there’s Palantir—the poster child of this whole circus. Roughly $4 billion in annualized revenue and somehow valued at $440 billion. This is easily the biggest bubble I’ve ever seen.
And it’s not just Palantir. Across the U.S., valuations are stretched almost everywhere you look, with prices implying nothing short of perfection.
Meanwhile, China is the complete opposite story. Valuations are still dirt cheap, even as fundamentals improve and AI tailwinds become obvious. The gap between U.S. and Chinese equities has rarely been wider and that disconnect is exactly why my portfolio is positioned the way it is.
Before I get into it though, I just want to say thank you! We just recently crossed 1,000 subscribers since launching this Substack in January. The past couple of weeks have brought in a wave of new readers, and I appreciate all the support more than you know.
To say thanks, I’m offering 15% OFF all paid plans for life. You’ll get full access to every deep dive, portfolio update, and piece of research I publish at the best rate I’ll ever offer. This deal is only available for the next 7 days, so if you’ve been thinking about upgrading, now’s the time.