Reality Check, page-21

Cap, I have written previously about how deep, and insightful I find their monthly reports. They seem to consider and factor in events and situations that I as a personal investor would never have considered. Their employment of a Medical Doctor with Chinese language skills would have been a stroke of genius when it came to obtaining information about COVID and understanding the ramifications of the effect on the fund. I agree with your assessment that the fund tends to “whipsaw” and have sharp moves up and down. I dont know if their philosophy is “all or nothing” but it would certainly aid their cause if they could capture the majority of the upside and limit their downside. Maybe they already do ? Perhaps its the old adage of risk versus reward and they consider themselves eminently qualified to take the big risks to get the big rewards. Certainly an exciting ride for us all, and it will be those with the tolerance for risk and the financial ability to hang on in the longer term that will hopefully profit, although I appreciate that each and every investor has other needs and strategies for their hard earned.