$Adobe(ADBE)$  Adobe shares trading at $304 at time of writing is one of the biggest cases of market mispricing I've seen. Adobe's revenue has continued to grow double digits consistently and predictably, monthly active users have increased 25% in 2025, with 75% of individual Creative Cloud converters new users and not just upgrading from existing software. Adobe Express has 8000 new business customers, a 6x increase from 2024. The creative suite and ecosystem is a wide moat, and subscription revenue is sticky and predictable. And yet the stock is crashing, priced like a dying company. Look at the whopping 47 new features announced in Adobe MAX. So many of these new features leverage Al to improve workflows and save

$TRACKER FUND(02800)$  

$Palantir Technologies Inc.(PLTR)$  BUBBLE!

$Palantir Technologies Inc.(PLTR)$  

$NASDAQ(.IXIC)$ StillBearishBearishStillBearish  Valuation multiples still too rich.

$NASDAQ(.IXIC)$ Bearish Crazy how most are bullish. Yall gon get burnt.

$Dell Technologies Inc.(DELL)$  Gwarny.

$Dell Technologies Inc.(DELL)$  Goodly.

$Nike(NKE)$  Hmm.

I believe there is still some way to go before the market bottoms out, and tech will be hit hard. It's probably wise to hedge with some Puts with the VIX being relatively low right now. What I'm doing is buying some Puts and then adding to my long positions once the market drops another 10%.

I believe it is possible and probable that the HSI goes lower. However, I believe that even at current prices, the HSI and most Hong Kong stocks are trading at fair value. My strategy for investing into the Hong Kong market is simple - start dollar cost averaging into the index at current levels. No point waiting. You will most likely come out tops in the long run (5-10 years).