Super brutal month.

Started out okay as gold kept going up, and stocks and bitcoin held kind of steady although losing steam.

The last few days of the month though, huge sell-off, and down quite a bit this month.

I guess I did anticipate it though and let’s reflect more in this post.

Current Portfolio:

HKD/USD cash: 4.45% (3.55%)

USD stocks: 34.5% (29.21%)

JPY stocks: 5.91% (10.25%)

Bitcoin (USD): 14.87% (14.05%)

Gold (USD): 47.88% (45.45%)

YEN cash: 5.27% (5.58%)

YEN shorts: -12.87% (-12.46%)

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Decreased the Japanese equity further, and put that into US equity.

Unfortunately not a great month for US equity … especially tech stocks.

Nevertheless I kept buying my way down, because the AI boom is still in its early stages and these are golden tickets to explosive wealth growth in the coming years.

Gold kept performing well although did also lose steam toward the end during the huge sell-off.

US Equity

Tech stocks pretty much all down, energy stocks also down. Tesla is super beaten up, down 30% for the month after already down like 15% from ATH.

Overall US equity probably down 15-20% for the month.

Good thing gold held up for the most part and the entire portfolio was only down ~8%.

Everything has gotten more reasonably priced now as well and I tried buying the dip as much as possible, although it did get a little exhausting toward the end when the sentiment was so sour. (like thinking, if it might keep going down and I’ll eventually run out of dip buying)

There was quite a huge rebound yesterday though (Friday) and I might believe that it was the bottom for this pullback.

Valuations

• TSLA – $294.4 (402) / FPE 111 (144)
• AAPL – $241.9 (234) / FPE 32.64 (31.68)
• META – $669.4 (685) / FPE 26.2 (28.16)
• GOOGL – $170.52 (202) / FPE 19.33 (23.69)
• NVDA – $125 (119) / FPE 32.5 (29.1)
• TSM – $180.8 (207) / FPE 19.67 (22.67)
• CEG – $250.6 (298) / FPE 27.14 (31.04)
• VST – $133.66 (165) / FPE 21.39 (26.18)

JP Equity

stripped it down to 6% now.

Following the US market closely as expected, also had a sell-off.

Damage wasn’t as bad as the US equity tech stock though so turned out it was good that I held onto some.

Anyway though I will still continue trimming until 0%.

Gold

Another great month for gold, was up 5% at some point but with the whole market sell-off, got back down to 2% for the entire month.

Good thing I am pretty overweight on gold which really help dampen the blow of the equity/bitcoin sell-off.

Started trimming the gold a bit but didn’t trim too much since I had a lot of cash still and was busy rotating the JP stocks.

In any case I need to remember these 2 months in case gold gets to a downturn period … it held up so well during risk-asset turbulence.

Crypto

So turned out I was a bit too optimistic, if I looked at last month’s post.

After weeks of consolidation, turned out it broke to the lower side.

Very sharp drop too from 95k down to 80k in a matter of a few days, even dipped to the 78k range.

Quickly recovered to 85k today though.

I think just like Tesla, it’s retesting the “empty range” after the pop with the trump victory.

So I forsee it should be consolidating within the 75-85k range now probably for a while, and I might keep buying some around the 75k support to keep it up around 15% allocation.

Then wait for the next positive catalyst and will probably retest 100k and ATH of 108k again.

Probably consolidate there again until the next leg up to 120-150k. I still think 120k is feasible for this year. Let’s see how it goes.