Hard to escape tech

June 2026

It is hard to escape all the talk about technology in the stock market at present – particularly striking for us are the SpaceX IPO, priced at a jaw-dropping 100 times sales, and the arms race raging between the AI hyperscalers. If you haven’t had enough already, we would suggest a look at Kuppy’s recent missive in “Kuppy’s Korner” here commenting on how those that were once vaunted for being asset light are rather rapidly becoming asset heavy. He writes once or twice a month, and is always in equal parts interesting and entertaining.

We continue to find excellent opportunities at the absolute opposite end of the market from the US and technology frenzy. See what we’ve been up to in the Kennox Fund in our latest quarterly here, or our usual monthly factsheet here.