FOCUS MONEY: "Margin Calls, Mega-Crash, AI Pivot: Bit Capital expert reveals where he's buying now"
Semiconductors halved, margin calls in Korea, hyperscalers under pressure – and yet, Bit Capital expert Marcel Oldenkott sees genuine opportunities right now.
What a first half of the year: The SOX index climbs over 100 percent, passive capital flows drive even small chip stocks to P/E ratios beyond 200 – and then comes the brutal sell-off. In South Korea, 3.4 percent of the adult population receives a margin call. 1.2 percent are completely liquidated. The Nasdaq falls twelve percent from its high. At the same time, Alphabet delivers 82 percent cloud growth and nearly a billion Gemini users – and is still punished with a seven percent drop.
Microsoft pulls an accounting trick with the depreciation period of its data centers and is rewarded with an eight percent gain. The market is no longer pricing for the long term, but is chasing narratives instead. Marcel Oldenkott, portfolio manager at Bit Capital, makes sense of the chaos and explains where his team is now selectively buying in – and where they are deliberately keeping their hands off.
