PORTFOLIO RESEARCH

Strategy notes

Notes on risk maps, currency exposure, stress transmission, thematic dependencies, and annual portfolio review.

012026-09-14

Capital allocation · Decision records

An allocation memo should preserve disagreement

Recording competing views, evidence limits, and review conditions so a capital decision can be revisited without reconstructing the debate.

022026-07-19

Portfolio review · Annual planning

Connecting changes in holdings, risk budget, capital needs, and themes to annual planning.

032026-07-04

Thematic research · AI infrastructure

A practical map of compute, networking, power, supply chains, financing, and customer adoption.

042026-06-20

Stress testing · Scenarios

Tracing a scenario from external variables through operations, financing, valuation, and the portfolio.

052026-06-01

Currency exposure · Allocation

Separating operating cash flow, financing, valuation translation, and exit currency.

062026-05-16

Risk maps · Portfolio analysis

Moving beyond asset labels to the drivers that can affect several holdings at once.