Second half of 2026: With assets cut in half, what should investors choose?

Investors are currently suffering psychological strain from year-to-date asset losses. There is a tendency to remember only the peak of one's account and to think assets have been cut in half. To get through this psychological blow, one needs the attitude of regarding the peak as money one never really had. This leads to the advice that one must accept the current decline in asset values in order to hold on in the market.

Institutional investors themselves said they gave back their July and August gains and saw asset values fall, and margin traders are suffering the daily pain of raising funds. One investor lamented that they lost all their July and August profits, explaining that someone must have sold and taken profits, while they held on and suffered large losses.

This lecture is structured in two sessions to deepen understanding of investing. In the first session, Lee Dae-ho, CEO of Westreet, handles basic semiconductor knowledge and industry interpretation to help with fundamental understanding. In the following second session, Lee Seon-yeop, CEO of AFW Partners, covers the macro market and semiconductor outlook, designed so participants can grasp the overall market flow and direction based on the basics learned in the first session.

Engineering graduates or semiconductor majors do not always succeed in investing, and they can instead become stuck in their specialized knowledge and hold a skewed view. Therefore, the perspective of a macro strategy analyst is more effective for investing at this point, and a strategic outlook that surveys the whole market is emphasized over deep knowledge of a specific technology.

Investors who bought stocks at high points such as the 200th or 250th floor are going through daily agony. In particular, investors who used heavy leverage above the 250th floor are already in a situation where they are being forcibly removed (dying) from the market. This shows that excessive leverage is acting as a major risk amid sharp market volatility.

The current real estate market faces a dark situation where hope has vanished. Investors stand at a crossroads with two choices: whether to invest more aggressively somehow, or to seek ways to protect the assets they currently hold as much as possible. The seminar will discuss these two directions in depth.

A new investment strategy that also accounts for holding taxes has become necessary. As holding tax burdens grow under the aggregate taxation policy, simply holding assets is no longer enough, and portfolio rebalancing that considers tax efficiency has become urgent. This means investors must review their asset mix and pursue strategic changes such as selling unnecessary assets.

Selling an asset is a painful process carried out with a heavy heart. Many feel reluctant to part with assets held for over ten years, thinking of them as "like children," but now, due to holding tax burdens and similar pressures, one must clear out assets that are "useless to keep" and make bold, selective choices. Under the pressure of being taxed on the aggregate total regardless of the number of homes, clearing out inefficient assets has become even more important.

Rather than keeping inefficient assets out of concern for others' views or face-saving, it is important to reallocate assets wisely and raise efficiency. This is advice to seek ways to reduce holding tax burdens through clearing out unnecessary assets while still maintaining a satisfying standard of living.

This seminar will provide an opportunity for on-site Q&A to everyone who took part in the pre-seminar survey. Sufficient time is being secured for questions so that attendees can resolve their doubts, and preparations are being made with the greatest care. Various benefits, including meal invitations and advisory rights, will also be offered.