YWR: Who am I Industry?

Erik said it was OK if I introduced myself.

I’m a bit shy though.

Embarrassed I should say.

I’m the worst performing sector of the last 10 years.

My total return is -65%.

While Semicondutors are +655%

And when you speak to fund managers nobody wants to own me.

They are at a multi-year record underweight.

Private Equity funds don’t care about me either.

I get it.

You might say I’m an insanity trade.

There is no logical reason to own me.

If you tell other fund managers you are bullish on me they will strap you to a stretcher and wheel you away to the insane asylum.

As you scream.

But there positives about out me investors are overlooking.

The consensus is checked out. The bear case is stale.

I’m on the verge of a multi-year bull market.

The are signs emerging.

And nobody is paying attention.

Who am I?