Jordi Visser

It will take a long time for this to normalize.

And I think we're still in the very early innings, but we're through the part where from this point, it's probably going to be more challenging if you've got trades on.

But I would still be long Chevron over over Salesforce dot com as a thematic trade that will last the entire year.

Yeah, so I'm doing that now.

I am reducing because, I mean, Micron, from the first time that I talked about it, it's up seven times.

So I got in some on liberation.

That's good.

But here's the thing.

Do I think it can go up seven times from here?

No.

Do I think there will be supply coming online in the next three years?

Yeah.

still cheap i still think it's going higher but do i think it peaks around i don't know 700 800 a thousand yeah well that means by definition let's assume it goes to a thousand you got in at 60. well that means right now we've done a lot of the trade it doesn't mean we're done but in percentage terms we've done a significant part of it

So I've kind of looked at as I want to be reducing there and I want to be moving some stuff into things that I will still think will still benefit that will go up more.

If you ask me over the course of the next year from here, I think Corning will outperform Micron.

I still think Corning is at a very early stage, even though it's had a big run, because I think optical fibers, Meta just said to a signal there.

we don't have enough and they're going to benefit from the glass build out for the phones and the computers and the autos.

So I look to look for other themes that maybe haven't run as much in terms of like silver.

The silver miners to me are a great place to be in because they've traded at a discount relative to the metal.

And the reason is because these are cyclical businesses where you think eventually silver will reach a level and it'll collapse.