TṢMC wasn't just the most consequential company in the portfolio. It was the most consequential company on Earth from a geopolitical standpoint, and a 3% stake in it carried implications that made every other position in the Bellemere portfolio look straightforward.
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TṢMC. Hsinchu, Taiwan.
The call that woke the chairman came from the company's Washington liaison at 12:40 AM Taiwan time, which was 11:40 AM in Washington, which meant the US government had spent the first hour after the Bloomberg article dropped before deciding TṢMC needed to know immediately.
That gap — one hour — told him everything about how seriously Washington was taking it.
He read the article in full before speaking.
"How many calls have come in," he said.
