The AI trade did not die — the invoice arrived. Why hyperscalers sold off, why memory names went vertical, why I bought Microsoft into the wreckage, and why the consumer may matter more than the AI debate in H2.
Breakout trading pays the bills, but a long-term sleeve of quality compounders bought at fair prices smooths the equity curve. Here's the framework.
Fifteen years in, the single biggest driver of the track record isn't stock picking — it's position sizing that makes any single trade irrelevant.