BDC ETF 全景：BIZD、PBDC 完整分析與直接持股決策框架
12.86%費用率是視覺陷阱，真實費用只有0.41%。BIZD被動指數、PBDC主動管理、直接持股三條路完整對比，10年CAGR差距3.84%，五步決策框架一次看清楚。
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BDC ETF Landscape: BIZD, PBDC & the Direct Holdings Decision Framework
The 12.86% expense ratio is a regulatory disclosure illusion — the real cost is 0.41%. Complete comparison of BIZD passive, PBDC active, and direct holdings. The 10-year CAGR gap is 3.84% per year. A five-step decision framework to find your path.
本週市場動察：峰會行情高開低走，電力基建連兩週獨領風騷
峰會成果比預期薄，債市對美中高峰會議結果失望。605 支掃描，89 支通過六項嚴格標準。電力基建連兩週主導，PWR 四份清單稱霸，資安 SaaS 回血訊號初現。
Weekly Market Pulse: Summit Rally Fades, Power Infrastructure Leads for Second Straight Week
Summit produced thinner results than markets priced in. Bond market disappointed. 605 scanned, 89 passed six rigorous criteria. Power infrastructure led for a second week; cybersecurity / SaaS rebound emerging as a potential third theme.
ProfitVision LAB 成長股精選週報 — 2026-05-17
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。
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。
AI High-Speed Connectivity Chips: The Four-Way Battle Between MRVL, CRDO, MXL & ALAB
The AI data center buildout is reshaping connectivity chip markets. Marvell dominates optical interconnect, Credo owns active electrical cables, MaxLinear challenges in PAM4 DSP, and Astera Labs holds a PCIe moat. This industry overview maps all four competitive layers.
Astera Labs (ALAB) 深度研究：AI 連接神經系統的壟斷者，還是估值已提前透支？
Astera Labs（ALAB）是 AI 基礎設施連接晶片市場中護城河最清晰的純玩家。PCIe 6.0 Retimer 佔市場逾 50%，76% 毛利率零負債，Q1 2026 年增 93%。Scorpio Scale-up Switch 開啟第二成長曲線，但 20x+ NTM EV/Rev 估值已充分定價。四道濾網評級：放行但等待。