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.
-
The SRS Fund Sep 2026
Sep brought a modest recovery in the SRS Fund, but it also left me thinking more carefully about how much of Singapore’s current economic and market strength is connected to the AI investment cycle.
-
MyNest US Fund Sep 26
The month of Sep brought together two developments that matter to our portfolio: Further progress in the field of AI and a sharp increase in long-term interest rates.
-
The SRS Fund Aug 2026
Aug’s economic update provided another reminder of how closely Singapore has become connected to the global investment in AI and semiconductors.
-
MyNest US Fund Aug 26
The idea behind the “SaaSpocalypse” was simple: if artificial intelligence could write software, generate content and complete business tasks, what would happen to the software companies charging customers to do those things?
-
The SRS Fund Jul 2026
For much of 2026, the market’s attention has been firmly fixed on AI, semiconductors and anything connected to the massive build-out in computing infrastructure.
-
MyNest US Fund Jul 26
After spending a long period watching the artificial intelligence infrastructure build-out from the sidelines, we finally decided to join the party—albeit cautiously.
