Well it’s been almost 6 years since my last update, which is quite mind boggling to consider but no reason to put off any further. For the past 6 years the fund has entered passive mode making long term investments within our core thesis around microchips. Given our early entry and repeated long call purchasing around NVDA and other chip makers, as you can imagine the strategy has gone...
Market Outlook 2/28/2018
Market outlook As of today, Feb 28th, we are sitting on 95% cash. After an absolutely stellar run in the first month of 2018, we took our gains right before the correction that saw stocks pullback 10% or more. The timing was perfect, but we’re not convinced the correction is over. After enjoying a bull run that matches the rush of 1999 and 2007 thanks to an all time high in liquidity alongside an...
An update on the Microchip Thesis
[DATED MARCH 2017 via Jarvus Friends and Family Fund prior to Third Wave Capital inception] One year ago in March 2016 I wrote to friends and colleagues that there was a severe undervaluation of microchip stocks across the board. It seemed at the time that the slow down in PC sales growth caused over selling in microchip sectors considered to be completely reliant on PC sales. However, what was...