First, thanks to everyone for the well wishes. I wish everyone the same, especially the bears because they'll need it.
Mostly, bear markets are about not losing money, so my exposure is low. My most important recent investment decision was to get overall defensive once inflation ticked up about a year ago. I expect to redeploy in 2023 into super high-quality companies (e.g., GOOG, which now has activist TCI exerting pressure) and cash rich life science companies. But I'm disciplined on price.
As far as small public companies, I think OTLK will be a big winner in 2 - 4 years, but it needs capital soon, so keep an eye on it but don't buy it until they have sufficient capital.
I tried to invest in crypto but couldn't not develop an investment thesis. I kept concluding that it looked more like a Ponzi than an asset, so dodged that bullet. I am looking at GBTC now since the NAV discount is large, but still not convinced.
I have positions in large companies, like Hess, Valero, Humana, McKesson, UnitedHealth, Taiwan Semi, but some of those are board member relationships and I wouldn't say I have a great edge, so I wouldn't read much into it.
I have some privates - a vaccine, a battery and a SaaS company -- that seem to be doing really well and keep adding capital. Likely Sanofi will buy the vaccine company next year. Also, I have some oil & gas development projects and an interest in an electric power facility, and the winds at our back on those.
I guess is msg will get removed by the admins unless I mention one other name. Have I ever mentioned I have a position in NWBO? Well, I do.
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