AI's Usefulness, SMCI Puts, New Teslas, And Much More

Here's the transcript from today's Live Q&A Chat:

Q. I love all the recent write-ups! Thank you for those. All the detail is fantastic. My question is if we are adopting a cautious stance and are bracing for a market pullback, how do we manage our high-conviction positions? Sit on them and ride it out or trim with the expectation to buy back at a better level? Assume buying puts is not an option.

A. There's no scientific or "right" answer to this question. In my personal account, I've trimmed a few positions as noted over the last few months and have cash but am planning on mostly sitting tight for now. In the hedge fund, we have quite a few puts and a small number of outright shorts but are also mostly sticking with our remaining 15-16 longs.