2025 started with a furry of news and activities that may have further implacations on companies in the portfolio. The 2 key events I kept my eyes on was the following.
LA Wildfire Crisis: A Government Failure
The LA wildfire crisis exposed major government inefficiencies. Regulatory price fixing forced insurance providers to exit the market, leaving homeowners with fewer options and rising costs. Additionally, slow emergency response, bureaucratic red tape, and poor coordination worsened the crisis, prioritizing politics over real solutions.
Both Berkshire and Markel are in the reinsurance space. Their exposure to the LA wildfire could have a temporary impact on their earnings if insurance products were mispriced. This crisis should give further insights to their underwriting discipline.
Deepseek and the AI Paradigm Shift
Deepseek challenges the idea that AI must rely on the most advanced GPUs, signaling a shift in Big Tech’s capital expenditure strategy. This could disrupt Nvidia’s dominance and reduce energy demands for large-scale AI deployments. If widely adopted, this approach may reshape the AI and semiconductor industries.
MyNest US Fund Portfolio Compositions
The Fund portfolio composistion were little changed as we enter into the earnings season. The US stock market was generally positive and investors were buzzing with optimism that the new president would enact business friendly economic policies.
MyNest US Fund Performance
MyNest US Fund moved slightly ahead of the S&P 500 due to the index concentration of AI related companies. This had allow our US Fund to ahead by 2% grabbing the lead early in the year. The performance however will ultimately be determined how well the Fund’s portfolio of companies do during this earnings season.
Segment Analysis
Segments were little changed as the slight uptrend movement of the market lifted most segments.
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The SRS Fund Dec 2025
If someone had told me at the start of the year that the Singapore stock market would deliver returns in excess of 20%, I would have shrugged it off as wishful thinking.
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MyNest US Fund Dec 25
MyNest US Fund rounded the first year of inception with a slight outperformance to our benchmark the S&P 500. The first year of operation tested to resolve in knowing what we own as we navigated volatility which started on Trump’s Liberation Day.
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The SRS Fund Nov 2025
If you’ve been watching the Singapore market this past month, the narrative has been impossible to ignore: it is a tale of three banks, and unfortunately for UOB, it has found itself lagging its peers.
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MyNest US Fund Nov 25
November tested the patience of the broader market, defined by a distinct shift in sentiment regarding Artificial Intelligence. The narrative of an “AI Bubble” finally took hold,
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The SRS Fund Oct 2025
Many of us in Singapore watch in dismay as interest rates from T-bills, fixed deposits and high-yield bank accounts plummet to new lows in recent months. Three months Sora now stands at 1.29%.
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MyNest US Fund Oct 25
October is usually the worst month of the year for stocks but somehow this year the stock market failed to provide any opportunities for us to deploy meaningful cash to work.
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