One year return: nearly 110%.

But the real lesson is not the return, it is the discipline behind it.

As Munger said, you only need a few good ideas, but you must have the patience and temperament to sit with them.

This portfolio was built around a handful of structural trends: AI infrastructure, selected crypto-related exposure bought when Bitcoin was out of favor, defense, and overlooked small caps.

No magic. No constant trading. Just buying mispriced assets, expecting volatility, and letting time do the work.

A good year is not a reason to become overconfident, it is a reminder to stay humble, keep dry powder, and accumulate more only when price becomes attractive again.