Reflections on My Investment Framework Over the Years
Date: 4 Oct 2026
Today, I had a conversation with AI about my investment framework. My record-keeping used to be scattered across different Excel sheets with constantly changing formats that I was too lazy to organize. Today, I dumped all my records from 2023 to 2026 into AI at once.
The Bottom Line First: My portfolio is up 3.76x to date.
In June 2025, my investable asset scale officially crossed the $1M milestone.
AI identified five distinct shifts in my investment style over time and asked me a thought-provoking question:
"Do you believe that a big part of your wealth creation was simply riding a macro tailwind?"
My answer was a clear "Yes." In my view, the vast majority of what I've earned comes from being in the right era. During this same period, my employment income grew 2.5x, while my household expenses surged several-fold as well.
High inflation, high yields. I have to admit that a huge part of my investment returns was simply dumb luck—stepping right into the macro tailwinds of the times. Without the AI revolution, my assets wouldn't have compounded this fast; without access to new channels, I wouldn't have explored alternative assets or asset allocation. Luck played an undeniable role.
When I first started looking into hedge funds last year, I asked AI: "Most of these don't even beat the broad market. Why do wealthy investors still buy them?"
AI replied: "They aren't looking to maximize gains with that capital; they are looking to protect it from shrinking."
That brief exchange opened a whole new perspective for me. It was the first time I realized that choices differ—and should differ—at different stages of wealth.
Despite all the strategy discussions, my core conviction has always been simple and consistent, woven between the lines of my trading logs, becoming clearer over time:
I believe that technological progress is the ultimate driver of productivity.
Not a single company, not a specific theme, but technological progress itself.
If you ask me whether AI will bubble like the Dot-Com era: Yes, it will.
Is there a bubble right now? Yes.
Am I afraid of it popping? Yes.
Will I keep buying? Absolutely.
Bubbles will inflate and burst repeatedly, but technological advancement will not stop.
Yahoo went down, but the Internet didn't.
Apple, originally a PC and MP3 maker, dethroned Nokia, taking mobile phones into a new era.
NVIDIA might become the next Cisco one day, but the progress of AI won't halt.
I don't know who will take the torch if NVIDIA ever falls, but whoever it is, they will take the lead and end up inside the IYW holdings. Instead of worrying about whether IYW will hold up, I’d rather keep an eye on iShares' counterparty risk.
Once the tech thesis is established, the US remains the anchor for at least the next decade, with the USD and US Treasuries serving as the bedrock of the global economy.
My Portfolio Architecture: Core vs. Alpha
1. The Core Portfolio (Strategy & Survival)
The Core reflects my macro worldview, driving long-term strategy and keeping me alive in the market.
Tactical Growth: I use S&P 500 ETFs and IYW to execute my core tech thesis, while leveraging SPMO to capture momentum and factor rotation.
Tactical Exposures:
GRID (Global Clean Energy / Grid Infrastructure): The circulatory system of tech and compute power.
HST (Hang Seng Tech): My China tech exposure.
The Cashflow Engine (Dry Powder / Shock Absorber):
Tech and broad equities suffer deep drawdowns during crises. Correlations break down, bonds drop, and even gold gets liquidated to cover margin calls. A 10% cash balance isn't enough to buy the dip when panic hits. I need an active cash flow allocation so I have continuous dry powder to hunt for opportunities without ever having to panic-sell.
VHYL: Global High Dividend Yield
JEPQ / QQQI: Capping upside to harvest options income
YLD / Dividend ETFs: APAC Banking exposure
Cat Bonds & Treasuries: Low/zero-correlation assets to supply fresh capital when market liquidity freezes.
2. The Alpha Portfolio (Cognition & Asymmetry)
This is where I monetize my market edge through multi-long/short, leverage, and options strategies. It has performed solidly, generating a 3-year CAGR of 38%.
On Risk, Leverage, and Survival
I fear leverage, yet I don't fear leverage.
When discussing investments, the biggest misconception people (including my Relationship Managers) have is that I'm risk-averse. In reality, I only refuse to take risks I don't understand.
As long as I can understand the risk, and as long as I can stay in the game under the worst-case scenario, I am more than willing to embrace high volatility.
My foundational tactical rule is simple: Errors are inevitable; only those who survive long enough win.
Summary Framework
If I had to summarize my investment framework in a few lines, it would be:
Stay aligned with technological progress for the long run, while ensuring you ALWAYS have the capital for the next trade.
Core sets the direction.
Alpha generates excess returns.
Tech is the conviction.
Risk Management is the bottom line.
Strategy relies on cognition.
Execution relies on discipline and continuous reflection.
Whether I can navigate market cycles and generate sustainable returns over time is something I will leave to time to prove.
AI asked me one final, fascinating question: "Why do you trade?"
My answer:
I like money.
I like making money.
And I love navigating the deterministic uncertainty of the market.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
