Investment Advisory in the new Space and AI age

What if the sky is not the limit. Space rockets can fail dramatically from time to time.

(True Partner Capital, June 2026, Hong Kong)

In a televised speech in the late 1990s, then Federal Reserve Chairman Alan Greenspan coined the phrase "irrational exuberance", and the difficulty he described, knowing when asset values have escalated unduly, has only grown harder to answer. When prices climb an ever steeper trajectory, an investor faces an uncomfortable choice: reduce exposure and risk missing the continuation, or stay fully invested and bear the brunt of any correction. With the recent SpaceX IPO in view, the analogy with space rockets is hard to resist. The ascent can be spectacular, but failures, when they come, tend to be dramatic and costly. Fortunately, portfolio construction is not a binary choice, and a craftily constructed portfolio can take the sharp edges off. This is where True Partner Investment Advisory can help.

In our latest article we examine three developments we believe are underappreciated in today's portfolio construction. The dominance of US equities, the deteriorating risk-reward and diversification offered by government bonds and the various difficulties surrounding private markets.

The common thread is that several of the tools investors lean on for safety are quietly changing character, even as today's artificial intelligence and semiconductor boom has driven much of the market vertical. At True Partner Capital we have long believed in volatility itself as a powerful and liquid diversifier, one suited to precisely the moments when traditional cushions fail.

Our Investment Advisory team has traded through the dot-com bust, the Great Financial Crisis, the European debt crisis and the era of negative rates, across the US, Europe and Asia. We are happy to provide a confidential, independent third-party opinion on current portfolio construction and asset allocation, with concrete suggestions for improvement or even their implementation.

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