🌙 Year End Note — 31 Dec 2025 Remember March & April 2025 This year taught something important. In March and April, many of us saw how fast money can disappear. Years of saving can vanish in just 20 market days. And then, the market came back in one single day. But if we were not holding our positions on that day, our gains did not come back. The lesson is simple: • Do not panic • Do not sell out of fear • Crashes are normal • If you can, add more when prices fall • If you cannot add, it is okay to wait and do nothing And one rule to remember: Never hold positions with 1.5× leverage. It can break everything you built. ⸻ Going into 2026 Carry these thoughts: • Keep some cash always • Stay patient • Small smart steps → big results later

I could see multiple places with phrases like Bubble  But I don't completely buy into bubble  Like back in 2000 we don't even got a computer or internet everything was a story over our head  But today each one of us uses 3 devices on average everyday  I personally believe ChatGPT help to orchestrate information very well this is on the positive side On the negative side Like Michael burry mentions - money goes in loop between Nvidia oracle and other no real revenue s And his concerns over depreciation  Howard marks recent letter spark to concern  ********* But at the end of the day it is something beyond our control  We can't fit market int valuation multiple beyond a point  We are at the mercy of capitalism  One thing we have to accept if big i