Fully out of Nebius after 200%+ returns.

I am not one to fall in love with my stocks. But this one sale has a particular and pretty salty flavor.

If Google wasn't rewarded for its CapEx and compute returns, I do not see why IREN or Nebius would. When leaders fall, second-handed assets rarely rise.

I hope we get that bounce and I hope you holders will get what you're looking for.

I'll continue to closely follow the company. But for now, my thesis is that the market won't reward tech anymore and that returns lie elsewhere.

I'll be back when that changes. And it will.