Investment Record | January 2026

Entering January, my overall macro and liquidity environment outlook remains unchanged. During this period of still high uncertainty, I continue to reduce risk assets and further strengthen the defensive structure.

This month, all U.S. stock positions have been cleared, and the related funds have been fully transferred into precious metals. The core consideration remains systemic risk and monetary credit, rather than short-term price movements.

Current Portfolio Structure
Physical Precious Metals (53%)
Gold 43%
Platinum 10%
Gold continues to serve as a core defensive asset, with platinum maintained at a small diversified allocation.

Bitcoin (12%)
Maintaining a medium to long-term position, reserving the option to benefit from future liquidity improvements.

Fiat Currencies (35%)
USD / TWD / JPY / EUR
Primarily used to maintain liquidity and flexibility, preparing for potential re-pricing phases.

Current Outlook
Until the liquidity direction becomes clearer, controlling risk exposure remains a priority over participating in volatility.

The current portfolio leans more towards defense and waiting. Whether to reallocate more into risk assets will depend on whether subsequent environments show clearer changes.