I’ve just updated my Keeping Score page for 2Q and ytd. Note the explosion upward in the IT and Communication Services sectors in Q2.

So far this year, the strategy of avoiding the stocks of companies dependent on the US market, while embracing tech and smaller growth companies in the US has worked shockingly well. I see no reason for change other than price.

I’ve also been thinking that Xi has embraced his inner Deng, just as Trump seems to have seized on his inner Xi–and that it may be time to back “socialism with Chinese characteristics,” assuming it has come back from the dead. This despite my worries about the accuracy of mainland financials and Xi’s (really stupid) destruction of Hong Kong as a source of reliable financial information. In this I’ve been, as they say, “early,” which typically means “wrong, but unwilling to fact facts yet.” Nevertheless, I think something’s there.