當市場風險胃納反轉：我為什麼永久排除 ARK 類敘事型資產
有些投資虧損不只是賠錢，而是慢性侵蝕整套決策架構。2020 到 2022 年的 ARK 之旅讓帳戶淨值嚴重受損，卻也成為轉型為賣方哲學的直接起點。本文定義「精神耗損型資產」三條件，以及為什麼永久排除估值不透明、缺乏現金流、依賴未來敘事的資產，是保護決策系統的必要選擇。
柴柴行者
When Risk Appetite Reverses: Why I Permanently Excluded ARK-Type Narrative Assets
Some losses erode more than capital — they erode judgment and discipline. My 2020–22 ARK losses became the catalyst for a probability-based options-seller system. The Narrative Asset Filter permanently excludes assets that are valuation-opaque, cash-flow-free, and narrative-dependent.
【ONDS財報快閃】Q1 2026：10倍年增長、3.9億全年引導，這份成績單說明了什麼？
ONDS Q1 2026：營收 5,012 萬美元（年增 1,065%），毛利率 49%，積壓訂單 4.57 億，全年指引 3.9 億。單季完成 5 大收購（Mistral、World View、Rotron、4M+INDO Earth、Bird），Palantir SkyWeaver 合作確立，投資論點全面兌現。
Ondas Holdings (ONDS) Q1 2026 Earnings: +1,065% Revenue, Entering Hypergrowth Orbit
ONDS Q1 2026: Revenue $50.1M (+1,065% YoY), gross margin 49%, backlog $457M, FY guidance $390M. Mistral IDIQ ($982M), World View, Rotron, 4M Defense, Bird Aerosystems — five acquisitions in one quarter. Palantir SkyWeaver announced. All four thesis pillars confirmed.
BDC Covered Call 現金流機器｜ARCC × HTGC 完整策略整理
配息＋賣 Call 雙引擎、融資零成本回本試算、Portfolio Interest Exemption 退稅機制。ARCC × HTGC 系統化現金流策略，年化報酬 20–74%，1年7個月回本。
BDC Covered Call Cash Flow Machine | ARCC × HTGC Complete Strategy Guide
Dividend + options premium dual engines, margin cost-to-zero countdown, Portfolio Interest Exemption tax mechanics. Systematic cash flow strategy on ARCC × HTGC: 20–74% annualized return, full capital recovery in ~18 months.
AI 高速連接晶片產業總論：MRVL、CRDO、MXL、ALAB 的四極博弈
AI 資料中心的建設浪潮正重塑連接晶片市場版圖。Marvell 是光互連帝王，Credo 是主動電纜霸主，MaxLinear 挑戰 PAM4 DSP 寶座，Astera Labs 則在 PCIe 維度建立護城河。柴柴行者解析四極博弈的競爭格局、護城河強度與估值矩陣。