Sleep Well Investments

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SWI Manual 🌘
How our investment framework will help you 'sleep well'. Every step explained and linked to deeper thoughts.
 • Trung Nguyen @SWI
✅ Buying AI Beneficiaries and Selling One AI-disrupted Business
Staying the course during market uncertainties. Indiscriminate SaaS sell-off provide opportunities to reallocate capital.
 • Trung Nguyen @SWI
Sea Limited (SE) Q4'25 - Shopee in Focus, 11 Reasons To Keep Investing
Market competitiveness unchanged, investment priorities / return?
 • Trung Nguyen @SWI
Sleep Well Portfolio (Feb 2026) - Software AI risk Assessed
Five losers out of 13 holdings; AI risk assessed, planned to cut the most disrupted. SWI: 17% vs S&P500: 58% since inception. 5 months of…
 • Trung Nguyen @SWI
Sleep Well Portfolio - AI Risk Assessment
Can AI create and then run a replica of our 12 businesses? Which one is most at risk or most insulated? Result: I am trimming one and adding to two.
 • Trung Nguyen @SWI

Thesis Tracker

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Sea Limited (SE) Q4'25 - Shopee in Focus, 11 Reasons To Keep Investing
Market competitiveness unchanged, investment priorities / return?
 • Trung Nguyen @SWI
Sleep Well Portfolio - AI Risk Assessment
Can AI create and then run a replica of our 12 businesses? Which one is most at risk or most insulated? Result: I am trimming one and adding to two.
 • Trung Nguyen @SWI
Wisetech's Unforced Errors, What Now?
One of the kind SaaS down 40% YTD. >1% attrition despite decade of price increases, but founder-exec chair's personal troubles pushes stock to oversold…
 • Trung Nguyen @SWI
Sea Limited (SE) - Sum-of-parts Valuation, Simple to Complex.
Garena against gaming publishers and developers, Shopee vs 3P and 1P ecom, Monee vs old and new digital banks' loan portfolio and delinquency. Dis: 55…
 • Trung Nguyen @SWI
Sea Limited Q3'25: Accelerated Profitable Growth, More Investments in Key Moats.
Excellent business to add over time. Garena's bookings up 51%, Shopee's GMV up 28%, Monee's Loans up 70%. Group Adj.EBITDA up 68% to ~$900M, nearly $4B…
 • Trung Nguyen @SWI
Intellego Q3'25 - Huge Improvement in Reporting, Except One!
EKN is critical to Intellego, future guidance is a 10x in sales and profit! But the treatment of Moveomed's 22M euro deal is odd.
 • Trung Nguyen @SWI
SWI #18 - (Q3'25), Royalty Business Growing 29%YoY, 2 full year revenue visibility
9M'25 results were great, valuation rose to 23x EV/FCF, is now more expensive than when I first bought. But I regret not adding earlier. A candidate to…
 • Trung Nguyen @SWI
Sleep Well Investments
Sleep Well Investments
Sleep Well Portfolio of anti-fragile and time-tested businesses
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