Added to FuboTV

Finished the year by adding to my holding in FuboTV – which has seen volatile price movements of late. I have read that there is a huge short position by hedge funds, yet a number of analysts who cover the tech sector are positive about longer term prospects. My sources on OTT have been very reliable in the past – also wonder if big shorts (or longs) in relation to shares available to trade prior to quarter days are being used to manipulate hedge fund valuations – they will know who is leaving and who is joining usually a month or more in advance.

Sold Alibaba

When Alibaba reached its high of 319 or so for 2020 I thought this investment was there for the longer term. However the CCP threw a spanner in the works over the public offer of Ant (which was cancelled). There must be party members and relatives holding the stock from the HongKong listing – maybe they needed to be punished by the Central Committee too. After reflection I decided to sell at 260 – a good profit on book cost, but not as good as it might have been.

My Chinese exposure is now limited to Kingsoft Cloud, which is a smaller cloud play in China. This company seems to have the right backing, which is important in China, where party officials can influence commercial decisions.

Sold Glaxo – bought FuboTV (FUBO)and Luminar (LAZR)

The rationale for buying Glaxo was that they and Sanofi were major vaccine companies. There was news that their COVID vaccine collaboration would not produce a viable product anytime soon (2022?) so sold this holding.

Bought small holdings in FuboTV (adding to entertainment sector) and Luminar Tech (driverless vehicle technology).

Learned that Magnite (now a larger holding due to price appreciation) should benefit substantially from its partnership with Disney (whose subscriber base is now huge).

Completed switch from Inphi to Marvell

About a month has passed since I sold half of Inphi after buying Marvell. Yesterday I sold the remaining Inphi and added the approximate proceeds to Marvell.

There is no point in retaining Inphi, as the takeover proposal is part cash. I hold cash as a portfolio investment in any case, so I can buy without selling investments to cover. There is no real logic in being fully invested , unless you just hold T-Bills or government securities with less than a year to maturity.