unrealized gain

It is distinct from a realized gain, which is locked in by selling. Because the entry is erased when prices retreat, a large paper gain does not by itself mean more spendable money. For an investor as large as a pension fund, turning a paper gain into cash means putting size into the market, and that act itself pushes prices down.

Predictions & track record (4)

• Awaiting grading Why did the pension fund that always bought Korea's trading halts sell into five of them this year?Score at the next KOSPI circuit breaker: net buying above 1 trillion won means the constraint genuinely loosened, while a figure back in the low hundreds of billions means the purchases were mechanical.
• Awaiting grading Google Posted a Record Quarterly Profit, and Its First Negative Cash Flow in 21 YearsCheck whether Alphabet's free cash flow turns positive again in Q3, and whether SpaceX holds its current share price (around $110s).
• Awaiting grading SK Hynix's Q2 Profit Could Hit ₩100 Trillion, but Analysts Say Much of It Isn't From ChipsCheck SK Hynix's Q2 earnings release for whether operating profit lands around ₩60tn as estimated, and whether the dividend is actually raised by a wide margin.
• Awaiting grading The S&P 500's Record 15.7% Margin Drops to 14.4% Without AlphabetCheck after Microsoft, Meta, Amazon and Apple report Q2 results whether their margins improved similarly, that determines whether 15.7% reflects a broad AI boom or an Alphabet-sized illusion.

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• Watch SK Hynix's Q2 Profit Could Hit ₩100 Trillion, but Analysts Say Much of It Isn't From Chips Jukan (@jukan05) · 2026-07-27
• Watch The S&P 500's Record 15.7% Margin Drops to 14.4% Without Alphabet The Kobeissi Letter (@KobeissiLetter) · 2026-07-26
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