Private placement “witch,” Li Bei, founder of Banxia Fund, has finally been waiting for the fall in technology semiconductors 🥲🥲

In her circle of friends, she spoke directly and asked whether there are semiconductor “model guys” in China?
Previously, Li Bei—who had recorded the worst annual performance across multiple products—still remains bullish on real estate and bearish on AI.
In a letter to investors, Li Bei said that her four major equity holdings—energy, real estate, consumption, and building materials—collectively dropped, causing the fund’s net value to pull back significantly last week. At the same time, she also reminded investors that the conditions for the AI bubble to burst have already appeared; if they want to use this money to chase AI, “they must be extremely cautious.”