Exposure inventory
Organise the existing portfolio by region, currency, sector, and major risk factor.
01 / PORTFOLIO NOTES
Singapore · Portfolio strategy
Place each investment back in the portfolio
I’m Jason Zhao. My work covers global technology and financial-services portfolio analysis, thematic research, annual planning, and stress testing.
Portfolio view
What changes when one asset enters the portfolio
I look beyond the standalone case to regional, currency, and factor exposures. The missed risk is often not a number in a column. It is the possibility that two assets weaken under the same pressure for different-looking reasons.
Four working records before an allocation discussion
Theme dependency map
Record supply-chain, financing, and policy dependencies behind each theme.
Stress test
Carry scenario variables through assets and the portfolio, including second-order effects that resist simple measurement.
Allocation record
State which exposures change when capital is added, reduced, or left in place.
Strategy notes
Recent writing
The notes use public methods and clearly labelled hypothetical portfolios. They do not represent my employer or any actual asset, trade, or return.
Portfolio review · Annual planning
What an annual portfolio review should update
Read ↗Thematic research · AI infrastructure
Mapping dependencies in an AI infrastructure theme
Read ↗Stress testing · Scenarios
A stress test needs a transmission path
Read ↗Employment and education
Current roleAssociate Director, Portfolio Strategy
Temasek · Full-time · Singapore
EducationTsinghua University
Finance · Master of Management · 2015–2018
Contact