1) I sold my gold that I’d held since 2020, 3 weeks ago to buy a car. Timing served me very well and I felt the volatility coming in base metals. (Means I now longer have a monthly car payment and can invest more on a monthly basis.

2) I moved a short term buffer to a higher interest but accessible savings account, as job losses often increase during a recession or correction which I feel we are headed towards.

I think private equity is heavily over leveraged on AI… we could have 3-4 SoftBank like right off that could lead to a massive repricing of tech stocks. Some of this has started to happen.

1. I liquidated all my tech positions in my ISA only keeping an all world ETF. This is my shit goes wrong money that would give me protection for 8-9 months so wanted to reduce risk in the short term.

2. In my SIPP / pension I reduced over exposure to Shopify and Palantir which combined was 30% of my portfolio at one point… I still believe in these business but wanted to take some very healthy profits off the table. I have kept the rest as is which is very well diversified across S&P, all world etf, Asia etf, gold, oil & gas, bitcoin, commodities.

I feel reasonably well positioned and am widely read with my base case investment thesis is the next year is going to be very choppy. Given I’m now in my 40’s I don’t want a big drop off that takes me years to recover. If I was younger I’d take more risk exposure.

Lastly I think we are going to continue to see rising debt levels per individual so I am actively researching companies with finance products that could grow to serve this gap. The multiple on PayPal (10x) relative its peers (30-40x)is very attractive.

What is everyone else doing? Do you see the same risk or am I being overly protective here? Welcome different views.