Breaking: Michael Burry updated his portfolio for tax-loss harvesting
He:• Swapped Lululemon $Lululemon(LULU.US) for Deckers $Deckers Outdoor(DECK.US)• Sold Fannie Mae $Federal National Mortgage Association(FNMA.US)• Bought Freddie Mac $Freddie Mac(FMCC.US)• Swapped Sprouts Farmers Market $Sprouts Farmers(SFM.US) for 2028 calls• Swapped Zoetis $Zoetis(ZTS.US) stock for 2029 calls• Added MetLife $MetLife(MET.US) 2029 puts• Bought more JD $JD.com(JD.US) 2029 calls• Bought more BYD $BYDFF common stock• Still waiting for lower prices on Alibaba $Alibaba(BABA.US)• Holding Fiserv $Fiserv, Inc.(FISV.US), no changesBurry says the fourth quarter "brings extra pressure on stocks that are down a lot," per his Substack
JD-SW
09618----
Share your thoughts
What's on your mind?
0 / 2,000
- F
$BABA-W(09988.HK)
Is Alibaba Actually Expensive or Is the Market Betting on Growth?🤔
I am a Alibaba shareholder. This is the question i always ask myself.
At first glance Alibaba looks pricier than its peers. Its trailing P/E ratio stands at 24.6. That is about 1.7x Tencent at 14.1x. It is nearly 2x JD.com which ranges from 12.7 to 16.2x.
Furthermore, it is roughly 3x PDD Holdings at 8.1x. On price to book(PB Ratio), Alibaba trades at 1.6 to 1.7x compared to JD at 1.1x.
Alibaba also pays a modest dividend yield of 0.95% while JD offers 3.9%.
So why does Alibaba trade at a premium?
The answer lies in how earnings are being calculated. Trailing earnings have been pulled down by fair value losses on investments and heavy spending on AI infrastructure.
In fact net profit dropped 74.2% in the first quarter of FY2027. This makes the trailing P/E look much higher than it really is.
If you look ahead the market expects earnings to bounce back. The forward P/E falls to around 17.3x once earnings normalised.
Revenue growth is projected to pick up to 14.5 percent year on year. Investors are not paying extra for today’s lower profits.
They are betting that Alibaba’s expansion in AI and cloud will drive strong gains in the future.
Do you believe in Alibaba’s AI turnaround? I am with Alibaba. I believe the strategy and the light to the tunnel is coming ☺️
Trade Showcase: Trade, Show & Earn Rewards! - 新
New stocks and HK stocks are all in the red 😇
- 新
Hong Kong stocks are in a sea of red, dizzying 😵
- H
📢 𝐉𝐔𝐒𝐓 𝐈𝐍: $JD.com(JD.US)
- F
🚀 Redefining Daily Life. Can JD.com Turn Innovation Into Profit?
JD.com has recently been rolling out big new moves. Will they actually pay off financially ?
The company is moving beyond regular e-commerce to change how we shop, eat and run our homes.
Here are three exciting new ideas from JD.com: ➡️ Redefining Modern Living Services
🤖 Smart Cooking & Nutrition - CHEFRESH
AI plans meals based on customer health and tastes. Fresh ingredients get delivered and ready to go. Then smart hardware does the cooking and seasoning automatically and it all happens at customer’s kitchen.
🏠 Immersive Home Shopping — 101HOME Shanghai
A huge 4-floor, 12,000 sqm space with over 1,000 brands and 33 fully furnished show homes. JoyAI tech helps to pick and customise customers orders. Everything gets delivered and installed based on their preferences.
🧹 Reliable Home Cleaning
JD’s own cleaning service within 3 km. Every cleaner passes 100+ skill checks. They use standard cleaning kits. Prices are clear on the app and triple insurance covers you and your home.
JD is now connecting digital smarts with real-world stores and supply chains to lift everyday living. 💡
But the big question remains: Can all these moves translate into real financial results?
For easy reading, please refer to the infographic.
This is for information only. Not financial and investment advice. Please do your own due diligence ☺️.
Source: JDcorporateblog.com
$JD-SW(09618.HK)$JD.com(JD.US)
- FFeatured
🚨 Who Is Next After Haidilao? HK Stocks Trust Tax Watchlist
I guess many investors must have heard about Haidilao’s founder share sale news.
Bloomberg and The Straits Times recently have also covered the news and flagged Xiaomi, Li Ning, Sunac and Guming as names to watch.
I decided to do my own independent research to see who else may be affected.
Here is what I have gathered :
Fact: Based on China’s MOF and STA Announcement No.21. The compliance deadline is 22 October 2026.
Offshore discretionary trusts holding founder equity will face a 20% tax on accumulated dividends, trust contributions from 2023 to 2025 and realised capital gains. Any unpaid taxes after the deadline will incur a 0.05% daily surcharge plus penalties up to five times the owed amount.
I reviewed 19 major HK-listed tech leaders. 11 founders hold controlling stakes through offshore discretionary trusts. These companies are now under close watch before the deadline.
1️⃣ NetEase (9999.HK)
Largest exposure in this group. Estimated tax bill of US$600–700 million from historical trust dividends.
2️⃣ Pop Mart (9992.HK)
Structurally very similar to Haidilao. Uses the same trustee firm UBS Trustees B.V.I. Estimated bill of US$60–90 million.
3️⃣ Horizon Robotics & XtalPi
Both settled their trusts within the retroactive period without dividend cash. They may need to sell shares to fund the tax payment.
📊 Please refer to the full infographic for more details.
Do you think the above companies like to follow Haidilao🙄?
Disclaimer: For information and educational purposes ONLY. Based on public available information and I may be wrong. Hence this is definitely not financial or tax advice. Do your own due diligence☺️.
$HAIDILAO(06862.HK)$NTES(09999.HK)$POP MART(09992.HK)
- FFeatured
$JD.com(JD.US)$JD-SW(09618.HK)
🚀 JD.com Unleashes “Physical AI” - The 5-Year Plan That Will Change Everything!
JD.com shares closed at HK$105.500 with a slight dip recently. But look past that short-term move and you will see a massive five-year vision taking shape.
JD is moving beyond software and right into the real world with an ambitious Physical AI acceleration plan.
🤖 Massive Automation
JD Logistics plans to deploy 3 million robots plus 1 million unmanned vehicles and 100,000 drones.
🏢 New Infrastructure
The company will build 80 RoboBase industrial bases across the country.
📱 AI-Powered Shopping
The new App Version 16.0 introduces Dongdong. This AI assistant helps with everything from product selection to arranging housekeeping services.
🩺 Smart Healthcare
JD Health has unveiled a fully intelligent medical AI agent that connects users with consultations and home testing services.
From warehouse floors to your smartphone, JD.com is going all in on a hardware-heavy AI future.
Check out the latest infographic for the full picture of this strategic shift!
Not financial advice. Do your own DD☺️.
- F
$JD.com(JD.US)$JD-SW(09618.HK)
Accumulating JD.com on Weakness 💪
I have been steadily adding JD.com while the share price is soft. I see real deep value and great opportunities here plus a solid dividend yield.
I tried to queue my buy order today on the HK market at HK$104.6… but didn’t get filled! 🫣
Missed the entry but manage to buy some yesterday and today at US pre-market.
I don’t mind it drop more. I am still happy to keep accumulating at lower levels.
JD’s long-term Physical AI vision is exactly the kind of big-picture story I want to hold.
Will keep patiently adding on dips! 🚀
Trade Showcase: Trade, Show & Earn Rewards! - M
Breaking: Michael Burry has disclosed his updated positions
He:• Sold entirely his December 2026 $NVIDIA(NVDA.US) puts• Sold entirely his December 2026 $Palantir Tech(PLTR.US) puts• Trimmed Lululemon $Lululemon(LULU.US)• Trimmed Molina Healthcare $Molina Healthcare(MOH.US)• Trimmed MercadoLibre $Mercadolibre(MELI.US)• Trimmed Temple & Webster $TPLWF• Trimmed Zoetis $Zoetis(ZTS.US)• Trimmed Sprouts Farmers Market $Sprouts Farmers(SFM.US)• Trimmed JD $JD.com(JD.US)• Trimmed Birkenstock $Birkenstock(BIRK.US)• Trimmed Adobe $Adobe(ADBE.US)• Trimmed HCA Healthcare $HCA Healthcare(HCA.US)• Trimmed Fiserv $Fiserv, Inc.(FISV.US)• Trimmed Flutter Entertainment $Flutter ENT(FLUT.US)• Trimmed Build-A-Bear $Build A Bear(BBW.US)• Trimmed Veeva Systems $Veeva Systems -CL(VEEV.US)• Trimmed Fannie Mae $Federal National Mortgage Association(FNMA.US)• Trimmed Freddie Mac $Freddie Mac(FMCC.US)• Trimmed PayPal $Paypal(PYPL.US)• Trimmed Oracle $Oracle(ORCL.US) short• Trimmed Palantir $Palantir Tech(PLTR.US) short• Trimmed Nebius $Nebius(NBIS.US) short• Trimmed Nvidia $NVIDIA(NVDA.US) short• Trimmed iShares Semiconductor ETF $SOXX short• Trimmed Micron $Micron Tech(MU.US) short• Trimmed Caterpillar $Caterpillar(CAT.US) short• Trimmed CoreWeave $Coreweave(CRWV.US) short• Kept his 2027 $Palantir Tech(PLTR.US) puts unchanged• Kept his 2027 $QQQ puts unchangedMichael Burry trimmed every single other position in his portfolio without changing the order of position sizing
