Nick Denton's Big Bet Against the United States

Bullish:

• $CHINATECH - Nick has shifted his portfolio heavily towards Chinese and Southeast Asian stocks, indicating a strong bullish stance on the Chinese tech sector.

  • “I was a % in US assets pretty much in January, both in terms of stocks, real estate, and everything. And now it's pretty much the stocks are a % China and Southeast Asia.”

    Nick·9:43
• $XIAOMI - Nick is highly impressed with Xiaomi's entry into the EV market, praising their design and manufacturing capabilities.

  • “Zami's very first car out the gate is really quite exceptional with a very nice design, totally automated or as as automated manufacturing processes you're likely to get.”

    Nick·21:06
• $BYD - Nick mentions BYD positively in the context of successful trades and views on Chinese EV makers.

  • “I guess BYD in Xiaomi. Mhmm.”

    Nick·20:00

Bearish:

• $TSLA - Nick highlights Tesla's vulnerability due to its heavy reliance on its Shanghai factory, suggesting potential geopolitical risks.

  • “Tesla's biggest factory is in Shanghai. Tesla could be, you know, it could be kinda crippled with a signature on a piece of paper.”

    Nick·33:27
• $AAPL - Nick cites concerns about Apple's supply chain vulnerability in China, referencing Palmer Luckey's interview about potential risks to Apple's manufacturing.

  • “Palmer Luckey's recent interview, but he has a long five minute spiel all about Apple and how easy it would be for for the Chinese government just to know, basically seize the factories and become the dominant supplier of smartphones to the world.”

    Nick·34:16
• $USTECH - Nick expresses concern about the vulnerability of US tech platforms to geopolitical risks.

  • “I think the tech platforms are extraordinarily vulnerable.”

    Nick·33:27
• $EQUITIES - Nick suggests that US equities have been in a long-term bubble, implying potential for a downturn.

  • “We basically got twenty five years of bubble.”

    Nick·37:02