Singaporeans are personally all-in on AI, enterprises are still climbing the adoption curve, the government is pouring money into infrastructure, and compute demand is exploding.
Lower oil → less inflation pressure → lower rate anxiety → breathing room for growth stocks. But this is still a fragile relief trade. Shipping activity through the Strait of Hormuz remains subdued, and attacks linked to Yemen’s Houthis continue to threaten Saudi oil infrastructure and traffic through the Bab el-Mandeb strait. The pause in fighting has created room for diplomacy, but it has not yet removed the risk of another oil spike.
May and June, hands down. Sentiment across the market was running really hot, and I had some standout days — over 10% in a single day at one point. That stretch is a big part of why my return is where it is now, just a few months in.
KOSPI valuations, Korea's macro fundamentals, and how open-source AI models are reshaping memory demand — the flow was layered and packed with substance. Ross doesn't dodge the sharp question of "is the AI thesis broken"; instead he unpacks it piece by piece with data, fund flows and industry cycles.
From the recent pullback in Korean and US memory stocks, to the core question of "is this a top, or just halftime in a longer bull market," all the way to the HBM supply gap, KOSPI valuations, Korea's macro fundamentals, and how open-source AI models are reshaping memory demand — the flow was layered and packed with substance
Ross is known for spotting secular growth trends early; today he manages over $30M in AUM and leads a community of 15,000+ members. What makes his perspective unique: he blends top-down macro logic with bottom-up stock selection, thinking about both industrial/technological cycles and monetary/financial cycles.
The impact of open-source models may be the most underrated variable in memory demand. 🤖 Ross uses the just-released Kimi K3 as an example — billed as the world's largest open-source model, 2.8 trillion parameters, a 1-million-token context window, and always-on reasoning.
The long-term opportunity remains large, but the market is becoming less patient with businesses that require heavy investment before generating measurable revenue. $Alphabet(GOOGL)$ fell 7.13% despite strong headline results. Google Cloud revenue grew 82%, but Alphabet also increased its annual capex outlook to as much as $205 billion and reported negative quarterly free cash flow of $5.9 billion.