Quarterly Letter, EIP
Quarterly Letter from Co-Chair, EIP, Q2 2024
Dear Sponsors, Board of Advisors, Members and Readers,
I'm Gaius, one of the co-chairs for EIP. I'm excited to share about the exciting and eventful quarter we've had.
New Members
We welcomed a new batch of members to the club this quarter. At present, the EIP members have finished their investment bootcamp and have moved on to the ESG bootcamp. They've also participated in their first monthly meetings where they had the opportunity to ask questions about the club and discuss equity ideas with seniors.
There was also a BBQ party kindly hosted by Tiffany to welcome the new members. We're very excited to have them here with us and look forward to their contributions to the club.
Restructuring
Next, I would like to share that the club has undergone restructuring. Under the new structure, investment and operations of the club have been separated (and so my duties have been effectively halved). We believe this new restructuring will enable the club to more clearly segregate duties such that each member has more accountability over their work within the club.
Nelson and Xinfei will be our new co-PMs while myself and Khadijah will only be focusing on operating activities moving forward. The current team structure will also be changed to a sector-focused approach which we believe will help us improve our position sizing.
Portfolio Updates
Lastly, here are the key portfolio highlights from this quarter:
Intuitive Surgical and Alphabet have hit their respective target prices and the club will likely exit these positions soon, allowing us to cash in some healthy profits
Daqo's share price has fallen drastically and the club intends to divest soon as we don't see the company's share price improving anytime soon
Rumours of Nintendo releasing their Switch 2 have resurfaced along with alleged leaked renders of the new device. If the rumours prove true, it is a potential catalyst for share price activity for Nintendo. We'll continue monitoring the company's activities
Closing Remarks
Overall, it has been a wonderful quarter. We've continued to have Meet-The-Investor sessions that I'm sure many of our members have enjoyed. Articles about those sessions can also be found on our Substack. We believe that the next quarter under the new structure with our new members will be an exciting one!
Best regards,
Gaius
Co-Chair EIP