Morning Brief Weekend Review, How to Trade Well in a Box Range? | Park Se-ik Executive Director & Chesley Investment Advisory

Morning Brief Weekend Review, How to Trade Well in a Box Range? | Park Se-ik Executive Director & Chesley Investment Advisory [Morning Brief / 26.08.18.Tue - 26.08.21.Fri]
Watch on YouTube ↗  |  August 22, 2026 at 05:22  |  55:28  |  Chesley Investment Advisory (체슬리투자자문)
Speakers
Park Se-ik — CEO, ex-Chief Strategist
Moon Sang-moo — Managing Director
Oh Gwajang — Section Chief

Summary

The video discusses investment strategies for navigating a box-range market correction, emphasizing the importance of patience, discipline, and focusing on structural growth. The speakers debate the outlook for memory semiconductors, weighing concerns over Nvidia's HBM capacity reduction and Chinese competition against strong fundamentals and shareholder return policies. Additionally, the panel highlights opportunities in Korean equities, defense stocks, and MLCC suppliers benefiting from AI server demand.

  • The Korean market is supported by a reversing won depreciation trend and strong earnings improvement.
  • Bitcoin historically faces significant crashes during midterm election years between August and November.
  • Defense stocks like LIG Nex1 offer structural growth suitable for box-range trading.
  • Nvidia's potential HBM capacity reduction in Rubin Ultra raises concerns for memory semiconductor demand.
  • SK hynix's massive share buyback and cancellation program is expected to significantly boost shareholder value.
  • Samsung Electro-Mechanics is poised for strong growth due to surging MLCC demand and pricing power in AI servers.
  • The current market correction is viewed as a temporary distortion, presenting buying opportunities for disciplined investors.
Ideas
Park Se-ik CEO, ex-Chief Strategist 6:20
Favorable exchange rates and earnings support KOSPI.
The Korean stock market is well-positioned for foreign investment as the won's depreciation trend has reversed and the US will not tolerate further won weakness. Furthermore, Korea boasts the highest earnings improvement rate globally and cheap valuations.
EWY MED
Park Se-ik CEO, ex-Chief Strategist 10:43
Bitcoin historically crashes during midterm election years.
Historically, Bitcoin has suffered massive crashes (30% to 74%) during midterm election years (2014, 2018, 2022) between late August and the election, contradicting the popular belief that election stimulus supports crypto. Investors should avoid it during this period.
BTC HIGH
Park Se-ik CEO, ex-Chief Strategist 17:16
Defense stocks offer structural growth trading opportunities.
Defense stocks like LIG Nex1 are structural growth stocks that are suitable for box-range trading during the current market correction, as their valuations are not overly expensive and they offer solid fundamentals.
079550.KS ITA MED
Moon Sang-moo Managing Director 23:30
Nvidia reducing HBM capacity poses memory risks.
Nvidia's potential reduction of HBM capacity in the upcoming Rubin Ultra architecture is a negative signal for memory semiconductors, suggesting Nvidia might be altering designs to bypass high HBM costs and supply constraints.
HBM MED
Moon Sang-moo Managing Director 23:30
Nvidia reducing HBM capacity poses memory risks.
The idea that Apple will use Chinese memory is unrealistic given China's low self-sufficiency and inability to meet Apple's low price demands. The current memory stock correction is a temporary supply-demand distortion, presenting a buying opportunity around mid-September ahead of October earnings.
SMH MED
Oh Gwajang Section Chief 32:53
Massive buybacks and cancellations boost SK hynix.
SK hynix's aggressive shareholder return policy, involving a massive 40 trillion won share buyback and cancellation program (buying ~640 billion won daily, representing 7% of daily trading volume), demonstrates management's confidence and will significantly boost EPS and shareholder value.
000660.KS HIGH
Oh Gwajang Section Chief 36:58
AI servers drive Samsung Electro-Mechanics' MLCC growth.
Samsung Electro-Mechanics is experiencing full MLCC utilization and rapid price increases, driven by massive MLCC content growth in AI servers (e.g., GB200, Vera). With projected EPS growth of 74%, the stock has significant upside based on a conservative PEG ratio.
009150.KS HIGH
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This Chesley Investment Advisory (체슬리투자자문) video, published August 22, 2026, features Park Se-ik, Moon Sang-moo, Oh Gwajang discussing EWY, BTC, 079550.KS, ITA, HBM, SMH, 000660.KS, 009150.KS. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Se-ik, Moon Sang-moo, Oh Gwajang  · Tickers: EWY, BTC, 079550.KS, ITA, HBM, SMH, 000660.KS, 009150.KS