In the world of mega-cap tech investing, the “wrapper” is as important as the strategy. This post explores how off-balance sheet AMCs and orphan SPV structures protect against counterparty risk, ring-fenced from issuer insolvency.
Finding the Right AMC: A Strategic Framework for Mega-Cap Tech Investing
Move beyond rigid fund structures. Discover how Actively Managed Certificates (AMCs) provide family offices with the agility and disciplined allocation required for high-conviction tech investing.
Spoiler alert: Just because a stock is 49% cheaper doesn’t mean it’s a bargain
A 49.18% loss is a brutal way to learn about “moat evaporation.” We break down why we walked away from Adobe and why “averaging down” is often just throwing good money after a bad story.
The IPO Trap: Why We’re Ignoring OpenAI and SpaceX to Own the “Plumbing” Instead
Nasdaq is fast-tracking the IPOs of OpenAI and SpaceX. We explain why these “trophy” listings might be valuation traps for long-term investors and why we prefer owning the “Sovereign Foundation” instead.
How to lock in a 123% gain in 18 months
Following a 47% gain, we explain why we moved the North Tech 15 to 100% cash on 3rd March. Learn why the conflict in Iran changed the risk profile for tech and why protecting capital is our #1 priority.