原文：

原文：
Thanks! I’ve always shared personal research and core thoughts for free. Not trying to sell anything or tell others what to do.

And above all, just being transparent about my own returns (win or loss)

Maybe this information democratization upsets some business models…

When others try and pitch their $40 TA subscriptions that are always right and predicted the semis crash.

But if they really believed it, they would have made 5000%+ buying puts and wouldn’t need to market a paywall.

Yes, if I’m on 1.4x leverage, and if a portfolio concentrated in memory/photonics underlying crashes -35% on avg… you get a 49% drawdown.

I’m just sharing what happens.

But I expect AI names to recover since I see demand from compute to energy to memory to networking to be structural.

翻译：
谢谢！我一直免费分享个人研究和核心想法，不试图出售任何东西或告诉别人该做什么。

最重要的是，我对自己的收益（赢或输）保持透明。

也许这种信息民主化会扰乱一些商业模式……

当其他人试图推销他们的40美元技术分析订阅时，他们总是正确并预测了半导体崩溃。

但如果他们真的相信这一点，他们本可以通过购买看跌期权赚取5000%以上的利润，不需要营销付费墙。

是的，如果我使用1.4倍杠杆，并且投资组合集中在存储/光子学底层资产，平均下跌35%... 你就会遭受49%的回撤。

我只是在分享发生了什么。

但我预计人工智能相关股票会恢复，因为我看到从计算到能源到存储到网络的需求是结构性的。