Although I don't do strategy allocation, I can clearly feel that the volatility of heavyweight stocks has decreased. Currently, funds are flowing into small-cap stocks and concept stocks. It makes sense.

2026 will be the most critical year for testing AI implementation. $Tesla(TSLA.US) will definitely be the highlight of AI implementation—autonomous driving, robots, and space. Recently, funds have already voted with their feet. As a certain influencer put it, the infrastructure for AI is already in place; it's just a matter of whether there are vehicles running on it.

From my perspective on value allocation, whether it's autonomous driving, robots, or anything else, it's not too late to invest once deployment reaches the level of 1 million units/vehicles. Only when commercial mass production and deployment are achieved will it be the time for a Davis Double.

For example, Meta's glasses and Apple's VR concept are both great—everything is great—but if they don't cross that volume threshold, it's hard to achieve multiple growth.

Also, I chased a bit of the space sector on Friday for fun and made a few points, but I still got off. Waiting for more certainty.