Is the Nasdaq’s "Fast-Track" a trap for your retirement account?
|
The financial media is in a fever. Nasdaq and FTSE Russell are rewriting their rulebooks to allow "fast-track" entry for three looming giants: SpaceX, OpenAI, and Databricks. The goal is to forced these names into the Nasdaq-100 in as little as 15 days after they list. For the "buy-and-hope" crowd, this looks like the opportunity of a decade. For those of us focused on protecting a SIPP or ISA, it looks like a classic valuation trap. Data reveals a "quality inversion" in these private giants. This is when a company’s fame masks a heavy reliance on burning billions in cash just to stay functional. While the market chases the "trophy" names, I am looking at the S-1 filings—the "truth serum" that reveals a company's real financial health. In my latest post, I explain why the North Tech 15 is staying in its 100% cash position, waiting for the "geopolitical dust" to settle before we even consider these new listings. Button: Read: The IPO Valuation Trap To clear thinking, David Thomas Founder, North Tech Capital |
North Tech Capital
Get weekly tech investing updates straight to your inbox
The traditional fund structure is often too slow, too clunky, and buried under layers of process that do not drive performance. For family offices and sophisticated investors, it has become a "blunt instrument." If you have a high-conviction thesis in mega-cap tech, you cannot afford to wait six months for a fund to launch. You need to move at the speed of the market, not the speed of a committee. This is why Actively Managed Certificates (AMCs) are becoming the standard across the UK and...
On 3rd March, I made the decision to liquidate every single position in the North Tech 15. Since we launched on 24th August, the portfolio has gained 47.62%, compared to 25.52% for the S&P 500. For anyone managing their own SIPP or ISA, those are the kind of gains that demand protection. While many investors were still focused on the AI rally, the escalating conflict involving Iran introduced a level of systemic risk that the market simply hadn't priced in. I didn't sell because I lost faith...
Hi all Most UK investors are currently playing a game that no longer exists. They are told to "diversify," which in 2026 really means buying a basket of everything and hoping the average doesn’t kill you. They are told to trust the indices, even as those indices remain weighted toward legacy companies being eaten alive by the AI revolution. Since launching the North Tech 15 last August, we have seen a 47.62% gain, nearly doubling the S&P 500. This isn't because we are "playing the market",...