[{"content":" The information below is for educational and informational purposes only. It does not constitute investment advice within the meaning of the Polish Act on Trading in Financial Instruments.\nIntroduction Since June 2022, I have been running an investment account with full performance transparency. For me, this is an attempt to answer two questions:\nDoes my strategy deliver better results than the market? If not, does it make any sense at all?\nThe premise is simple: I start with NAV = 100 on the day of the first trade (01.06.2022) and refresh the indicator every six months (I didn’t always manage to do that in the beginning).\nPhilosophy \u0026amp; Strategy I am not a trader. I don’t open positions on 15-minute candles and I don’t wake up at night to check the pre-market. My horizon is usually 2–5 years. I do make occasional exceptions and open short-term long/short positions with small leverage (mainly ETFs). I primarily rely on fundamentals and market sentiment.\nDoes the business earn real money? Does it pay dividends or buy back shares? Is the negative sentiment justified? I look for companies that:\nare sold off due to sector-wide panic (e.g. REITs in 2023 when rates were high), have stable cash flow (consumer staples, utilities), are undergoing restructuring that the market is overlooking (e.g. Thyssenkrupp). What is sacred to me:\nDiscipline in entering and exiting positions. Abandoning my thesis when the market says otherwise. Cash / short-term bonds / T-bills are also a position. In 2026 I exited most of the market to allocate capital toward buying a flat. It was more of a necessity than an investment :). The Numbers NAV Table (base = 100) Date NAV Change vs previous period 01.06.2022 100.0 — 01.01.2023 92.1 –7.9% 01.06.2023 - - 01.01.2024 115.1 +25.1% 01.06.2024 - - 01.01.2025 126.1 +9.6% 01.06.2025 - - 01.01.2026 145.0 +15.0% 01.06.2026 153.4 +5.8% NAV values reflect the market valuation of the portfolio at the end of each half-year (I didn’t track it from the very beginning, hence the gaps). Capital gains taxes are not included.\nchart\nKey Metrics (as of 01.06.2026) Metric Value Duration 4 years ROI +53.4% CAGR ~11.4% XIRR ~13.4% Benchmark (S\u0026amp;P 500) ~+38.7% (estimate) Current Allocation Position Share Cash (PLN / EUR / USD) 85% Equities (open positions) 15% Currently I am watching the markets from the sidelines. US interest rates are stabilising and many tech valuations look absurdly overvalued. I am waiting for the moment when fear replaces greed.\nPlans for H2 2026 Finish buying the flat — paperwork, renovation, moving in. Rebuild the portfolio — gradually redeploy excess cash back into the market if opportunities below fair value appear. Sectors on the radar: FMCG (if US consumer sentiment improves), Traditional energy, Defence industry, Tech companies punished by the AI narrative, Chinese market — it looks cheap enough. Education. In May 2026 I passed the stockbroker exam (KNF license no. 3967). Time for further certifications — maybe CFA Level I in 2027? We shall see :) Final Word Investing is a marathon with obstacles. Over three years I have learned one thing: it is better to miss an opportunity than to lose capital. The market will always offer another chance, but running out of money to seize it is final.\nSee you at the next summary in December.\n— Borys\n","permalink":"https://borilab.pl/en/posts/summary/","summary":"\u003cblockquote\u003e\n\u003cp\u003eThe information below is for educational and informational purposes only. It does \u003cstrong\u003enot\u003c/strong\u003e constitute investment advice within the meaning of the Polish Act on Trading in Financial Instruments.\u003c/p\u003e\u003c/blockquote\u003e\n\u003ch2 id=\"introduction\"\u003eIntroduction\u003c/h2\u003e\n\u003cp\u003eSince June 2022, I have been running an investment account with full performance transparency. For me, this is an attempt to answer two questions:\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eDoes my strategy deliver better results than the market?\u003c/strong\u003e\n\u003cstrong\u003eIf not, does it make any sense at all?\u003c/strong\u003e\u003c/p\u003e","title":"Portfolio Summary"},{"content":"Today\u0026rsquo;s Update 37.4. That was the price of General Mills stock when I entered my position. Today, following the release of their Q4 FY2026 results, the market rewarded those who believed – the stock surged nearly 9%.\nResults General Mills released its quarterly results today, beating analyst expectations. EPS came in at $0.95, crushing the consensus of $0.82. Revenue reached $4.61 billion, also above forecasts.\nYes, I know the company reported an operating loss. However, this stemmed from one-time, non-cash impairment charges related to goodwill and the planned sale of its Brazilian business. This isn\u0026rsquo;t a red flag – it\u0026rsquo;s portfolio cleanup, the kind of move well-managed companies make to focus on what truly matters.\nThe Market Is Starting to See What I See General Mills shares have been under pressure this year – down 25%. But today, following the results, the market sent a clear message: that was excessive pessimism. The stock surged nearly 9%.\nYes, the guidance for FY2027 is cautious – organic sales in the range of -1.5% to +0.5%, EPS of $3.00–$3.20. But let\u0026rsquo;s not forget – FY2026 delivered improvements in underlying volumes. The fundamentals are healing.\nMy Position I bought at 37.4. Today, I see the market appreciating exactly what I spotted earlier. General Mills is not a dying company – it is a firm undergoing a transformation. 33,000 employees, dozens of iconic brands, $3 billion in projected savings. And a management team that, instead of complaining about the environment, is adjusting its strategy to fit reality.\nI\u0026rsquo;m holding. And I\u0026rsquo;m adding.\nNot every day in the stock market is a bed of roses. But when you see a company you believe in doing exactly what it promised – and the market finally recognizes it – that is the best feeling an investor can have.\nToday is a good day for General Mills. And I believe there are many more such days ahead.\nA Speculation Against Trump I am betting on the midterms and the change that is coming. All the signs in the sky and on the ground indicate that Trump and the Republicans are in serious trouble ahead of the November elections. His approval ratings on the economy have dropped to their lowest levels, and as many as 77% of Americans – including a majority of Republicans – blame his policies for the rising cost of living. Blue-collar white voters, Trump\u0026rsquo;s key demographic, are seriously questioning his economic stewardship for the first time. Political analysts are already writing outright that Trump has \u0026ldquo;written off\u0026rdquo; the midterm elections, because gas and food prices are simply too heavy of a political liability.\nAnd that is precisely the point. A Trump defeat is a light at the end of the tunnel for the American consumer. The war with Iran triggered an energy shock comparable to the 1970s oil crisis, driving up fuel and food prices. The cost of living and food prices are now the number one topic across the entire political spectrum. Voters are tired, frustrated, and want change. And a change in the White House and Congress – which is becoming increasingly real after a Republican defeat – means a change in the economic climate. One that is more favorable to the average American\u0026rsquo;s wallet.\nAnd that, in turn, is fantastic news for General Mills. When inflation starts to cool, when fuel prices drop, and when consumers breathe a sigh of relief – they will reach for the products they know and trust. For Cheerios at breakfast, for Yoplait yogurt, for Blue Buffalo pet food. General Mills has brands that are embedded in the daily lives of Americans. When that daily life ceases to be a financial struggle, these brands will come alive again.\nThat is why I am not selling. Today, we play for the earnings. Tomorrow, we play for the consumer rebound. And General Mills is standing right at the center of that story.\n","permalink":"https://borilab.pl/en/posts/general/","summary":"\u003ch2 id=\"todays-update\"\u003eToday\u0026rsquo;s Update\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003e37.4.\u003c/strong\u003e That was the price of General Mills stock when I entered my position. Today, following the release of their Q4 FY2026 results, the market rewarded those who believed – the stock surged nearly 9%.\u003c/p\u003e\n\u003chr\u003e\n\u003ch2 id=\"results\"\u003eResults\u003c/h2\u003e\n\u003cp\u003eGeneral Mills released its quarterly results today, beating analyst expectations. EPS came in at $0.95, crushing the consensus of $0.82. Revenue reached $4.61 billion, also above forecasts.\u003c/p\u003e\n\u003cp\u003eYes, I know the company reported an operating loss. However, this stemmed from one-time, non-cash impairment charges related to goodwill and the planned sale of its Brazilian business. This isn\u0026rsquo;t a red flag – it\u0026rsquo;s portfolio cleanup, the kind of move well-managed companies make to focus on what truly matters.\u003c/p\u003e","title":"General Mills (GIS) – food is quite cheap ?!"},{"content":"Transaction Buy 1: Sep 13, 2023 at ~$59.7 Buy 2: Apr 4, 2024 at ~$56.5 Sell: Apr 20, 2026 at ~$80 Average purchase price: ~$58 ROI (excl. dividends): ~37% over ~2.5 years CAGR: ~13% annually Additionally: monthly dividends Why I Entered In 2023, REITs were under immense pressure. Interest rates in the U.S. were climbing, the market was pricing in a \u0026ldquo;higher for longer\u0026rdquo; scenario, and the entire sector was underweighted and avoided. Agree Realty in particular – despite being a solid, defensive company with long-term leases and high-quality tenants (e.g., Walmart) – got caught up in the broad sell-off.\nThe assumption was simple:\ninterest rates would eventually stabilize or start falling, REITs would recover part of their losses, in the meantime, dividends would reward patience. I scaled in with two tranches. I wanted to average down and increase exposure when sentiment was at its worst.\nWhat Happened In 2024–2025, the market gradually rebuilt confidence in REITs. Interest rates stabilized, and capital began rotating back into defensive sectors. Valuations normalized, ADC\u0026rsquo;s price moved higher, and the monthly dividends regularly fed my account for further purchases.\nThe whole thing took slightly less time than I had assumed (I was aiming for ~3 years, closed after ~2.5 years).\nWhy I Sold Not because the REIT had turned bad. Simply:\nthe valuation had returned to levels I considered fair, the upside after a ~37% gain had become limited, I decided it was better to free up capital and look for the next opportunity. This position was defensive-opportunistic by design: buy the dip → collect dividends → sell on normalization. The scenario played out, case closed.\nWhat Went Great Entry at peak REIT sentiment bottom – rates high, everyone selling. Dividends as a buffer – even when the price stalled, something was flowing in. Two tranches instead of one – the second half at a lower price improved the average. Summary REITs operate on a relatively simple mechanism: they get cheaper when rates rise, and more expensive when rates fall or stabilize. Agree Realty was further strengthened by the quality of its assets and its stable business model. This investment showed that it pays to be patient, collect dividends, and not be afraid to buy more when everyone else is fleeing.\nAll in all – solid, calm, and highly predictable.\n","permalink":"https://borilab.pl/en/posts/reit/","summary":"\u003ch2 id=\"transaction\"\u003eTransaction\u003c/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eBuy 1:\u003c/strong\u003e Sep 13, 2023 at \u003cstrong\u003e~$59.7\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBuy 2:\u003c/strong\u003e Apr 4, 2024 at \u003cstrong\u003e~$56.5\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eSell:\u003c/strong\u003e Apr 20, 2026 at \u003cstrong\u003e~$80\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAverage purchase price:\u003c/strong\u003e \u003cstrong\u003e~$58\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eROI (excl. dividends):\u003c/strong\u003e \u003cstrong\u003e~37%\u003c/strong\u003e over ~2.5 years\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCAGR:\u003c/strong\u003e \u003cstrong\u003e~13%\u003c/strong\u003e annually\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAdditionally:\u003c/strong\u003e monthly dividends\u003c/li\u003e\n\u003c/ul\u003e\n\u003chr\u003e\n\u003ch2 id=\"why-i-entered\"\u003eWhy I Entered\u003c/h2\u003e\n\u003cp\u003eIn 2023, REITs were under immense pressure. Interest rates in the U.S. were climbing, the market was pricing in a \u0026ldquo;higher for longer\u0026rdquo; scenario, and the entire sector was underweighted and avoided. Agree Realty in particular – despite being a solid, defensive company with long-term leases and high-quality tenants (e.g., Walmart) – got caught up in the broad sell-off.\u003c/p\u003e","title":"Agree Realty (ADC) – A Defensive Position in a High-Interest-Rate Environment"},{"content":"Transaction Summary Buy 1: Jun 10, 2022 at ~$58 Buy 2: Mar 7, 2023 at ~$58 (added) Sell: Oct 25, 2024 at ~$108.5 Average price: ~$58 ROI: ~87% over ~2.5 years CAGR: ~28% annually My Entry Point Micron is a pure play on the memory cycle (DRAM/NAND). In 2022, the sector was in the gutter – falling demand for PCs and smartphones, oversupply, memory prices dropping, sentiment terrible. I knew this wasn\u0026rsquo;t the end of the world, just a phase of the cycle.\nI first entered in June 2022 – a bit early, but that was a conscious decision. The second time was in March 2023, when sentiment was even worse and the price wasn\u0026rsquo;t significantly different from the first entry. This allowed me to average my risk and improve my starting position.\nThe thesis: the memory market is cyclical. Booms and busts repeat like clockwork. At the bottom, everyone\u0026rsquo;s crying; at the top, everyone\u0026rsquo;s in love. I wanted to buy the tears and sell the love.\nHow It Played Out 2023 was boring but calm. The sector was gradually recovering from the bottom. The real wave came in 2024 – the semiconductor market came alive, and AI added fuel, boosting interest in memory and infrastructure. Sentiment shifted from negative to strongly positive.\nThe stock skyrocketed. My assumption about the cycle turning was spot on.\nThe Exit Decision I sold in October 2024 because the valuation was no longer attractive. After an ~80–90% gain, further upside became limited, and the risk of a correction was real. Plus, sentiment was already clearly positive, meaning most of the good news was already priced in.\nThis investment was meant to be purely cyclical – not structural. You buy at the bottom, wait for the rebound, sell on normalization. The scenario was executed – why risk further?\nWhat Went Well Calling the cycle – memory has a fairly predictable dynamic. Two tranches instead of one – it smoothed out my timing risk. Patience – I didn\u0026rsquo;t panic in March 2023 when the price was near the bottom. Playing sentiment – I bought when everyone was trashing the stock. What Could Have Been Better Partial profit-taking instead of a full exit – there\u0026rsquo;s always room to leave a small piece for the unexpected. Larger sizing at the bottom – once I was confident the cycle had turned, I could have been more aggressive. Takeaways Semiconductors, especially memory, are the Wild West. DCA at the bottom works if you\u0026rsquo;re not afraid of short-term pain. The key is not to fall in love with the company – when the cycle ends, you exit, even if it feels like \u0026ldquo;it could go higher.\u0026rdquo;\nBuy the dip, sell the bounce. Simple, but it takes composure to buy when everyone else is running for the exit.\nUpdate – July 2026 I can\u0026rsquo;t believe this unassuming company is now leading the current AI boom (or bubble). I never would have thought it could run this hard. I was satisfied with that return back then, but today the position would be up another ~1500%. Absurd, unimaginable.\nNo point dwelling on it – at the time, I was reducing portfolio risk and decided to cut the position entirely. Revenue growth was disproportionate to the valuation. What\u0026rsquo;s happening now with this stock is beyond my comprehension. I wouldn\u0026rsquo;t trust that forward P/E – the hyperscalers will eventually run out of cash\u0026hellip;\nBelow are two charts: the first shows the sexy range where I was buying. The second shows the full spectrum of today\u0026rsquo;s valuation. Well, we\u0026rsquo;ll see how this all ends – I suspect it won\u0026rsquo;t end well for the unaware shareholders who bought above $500.\n","permalink":"https://borilab.pl/en/posts/micron/","summary":"\u003ch2 id=\"transaction-summary\"\u003eTransaction Summary\u003c/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eBuy 1:\u003c/strong\u003e Jun 10, 2022 at ~$58\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBuy 2:\u003c/strong\u003e Mar 7, 2023 at ~$58 (added)\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eSell:\u003c/strong\u003e Oct 25, 2024 at ~$108.5\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAverage price:\u003c/strong\u003e ~$58\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eROI:\u003c/strong\u003e ~87% over ~2.5 years\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCAGR:\u003c/strong\u003e ~28% annually\u003c/li\u003e\n\u003c/ul\u003e\n\u003chr\u003e\n\u003ch2 id=\"my-entry-point\"\u003eMy Entry Point\u003c/h2\u003e\n\u003cp\u003eMicron is a pure play on the memory cycle (DRAM/NAND). In 2022, the sector was in the gutter – falling demand for PCs and smartphones, oversupply, memory prices dropping, sentiment terrible. I knew this wasn\u0026rsquo;t the end of the world, just a phase of the cycle.\u003c/p\u003e","title":"Micron Technology (MU) – semiconductor mania"},{"content":"Transaction Buy 1: May 31, 2022 at ~$14.5 Buy 2: Jul 20, 2022 at ~$10 Sell: Dec 12, 2025 at ~$7.5 Average purchase price: ~$13 ROI: –40% over ~3.5 years Why I Entered In 2022, Snap looked like a typical growth story: rising user numbers, digital advertising riding a wave, a young target demographic. I believed that monetization would eventually kick in and profitability would improve.\nIn hindsight, this was a classic \u0026ldquo;buy the story\u0026rdquo; trade – the narrative was compelling, but the fundamentals were a disaster.\nWhat Went Wrong First: macro. 2022 was the year of rate hikes and capital flight from tech. Growth stock valuations were getting crushed. My timing was terrible – I was buying into a downtrend, not a bottom.\nSecond: competition. Meta and TikTok were eating Snap\u0026rsquo;s lunch on every front – users, ad budgets, attention. Snap didn\u0026rsquo;t have a strong enough moat to defend itself.\nThird: the business itself turned out to be fragile. Financial results were unstable, dependent on the advertising cycle, with no sustainable margins. For years, there was no clear breakthrough.\nWhy I Only Sold Now Mostly due to stubbornness and the belief that \u0026ldquo;it will rebound eventually.\u0026rdquo; I held on too long, hoping for a miracle. Instead of cutting my loss after the first year, I waited for the stock to return to the $10–12 range. It never did.\nI made the decision when I realized that:\nthe investment thesis had failed, the capital was locked up to no avail, better opportunities existed elsewhere, the company could trade at this valuation for years to come. What I Learned Macro matters – ignoring interest rates and the broader climate is a fundamental mistake. Narrative without results isn\u0026rsquo;t enough – popularity doesn\u0026rsquo;t equal a sustainable competitive advantage. Cutting losses isn\u0026rsquo;t a failure – it\u0026rsquo;s capital management. I should have done it much sooner. Opportunity cost is real – that money could have been working elsewhere for 3.5 years. Summary I bought the story, I sold the reality. The SNAP investment was a tough lesson that even a cheap company with potential can be a trap if it lacks a competitive moat and a supportive macro environment.\nThat said, the company will remain on my watchlist in the coming years. The amount of data they gather on users is insane. It may turn out that for someone, that data will be worth more than the company\u0026rsquo;s mediocre market cap\u0026hellip;\n","permalink":"https://borilab.pl/en/posts/snap/","summary":"\u003ch2 id=\"transaction\"\u003eTransaction\u003c/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eBuy 1:\u003c/strong\u003e May 31, 2022 at \u003cstrong\u003e~$14.5\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eBuy 2:\u003c/strong\u003e Jul 20, 2022 at \u003cstrong\u003e~$10\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eSell:\u003c/strong\u003e Dec 12, 2025 at \u003cstrong\u003e~$7.5\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAverage purchase price:\u003c/strong\u003e \u003cstrong\u003e~$13\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eROI:\u003c/strong\u003e \u003cstrong\u003e–40%\u003c/strong\u003e over ~3.5 years\u003c/li\u003e\n\u003c/ul\u003e\n\u003chr\u003e\n\u003ch2 id=\"why-i-entered\"\u003eWhy I Entered\u003c/h2\u003e\n\u003cp\u003eIn 2022, Snap looked like a typical growth story: rising user numbers, digital advertising riding a wave, a young target demographic. I believed that monetization would eventually kick in and profitability would improve.\u003c/p\u003e\n\u003cp\u003eIn hindsight, this was a classic \u0026ldquo;buy the story\u0026rdquo; trade – the narrative was compelling, but the fundamentals were a disaster.\u003c/p\u003e","title":"Snapchat (SNAP) – A Lesson from an Investment Failure"},{"content":"Buy: Jul 25, 2024 at ~€3.71\nSell: Mar 3, 2025 at ~€8.80\nHorizon: I assumed up to 2 years, exited after 7 months.\nROI: +137%.\nWhy I Bought? Thyssenkrupp was cheap, oversold, and hated in July 2024. The industrial sector was in the dumps, sentiment toward European cyclicals was terrible, and the company was surrounded by nothing but negative headlines – layoffs, strikes. I figured the bad news was already priced in, and the cycle had to turn eventually. The downside risk was limited, while the rebound potential was significant. Fundamentally, the company looked decent enough, and I knew the big players would start buying. The valuation was below its multi-year average.\nWhy I Sold? The market shifted its sentiment quickly – sooner than I had expected. The stock rallied several dozen percent in just a few months. The entire move I was banking on (the change in perception) had already played out. After a ~100% gain, the further upside became less compelling, and the risk of a correction grew. I closed the entire position. I pocketed the dividend and sold. I felt that everything interesting had already happened with this German \u0026ldquo;corpse.\u0026rdquo;\nSummary: Enter in fear, exit on the rebound. It worked better than expected. I was aiming for 50%, maybe 70%. The timing this time was impeccable. The risk-to-reward ratio was insane. Hopefully, many more trades like this one.\n","permalink":"https://borilab.pl/en/posts/thyssenkrupp/","summary":"\u003cp\u003e\u003cstrong\u003eBuy:\u003c/strong\u003e Jul 25, 2024 at \u003cstrong\u003e~€3.71\u003c/strong\u003e\u003cbr\u003e\n\u003cstrong\u003eSell:\u003c/strong\u003e Mar 3, 2025 at \u003cstrong\u003e~€8.80\u003c/strong\u003e\u003cbr\u003e\n\u003cstrong\u003eHorizon:\u003c/strong\u003e I assumed up to 2 years, exited after 7 months.\u003cbr\u003e\n\u003cstrong\u003eROI: +137%.\u003c/strong\u003e\u003c/p\u003e\n\u003ch2 id=\"why-i-bought\"\u003eWhy I Bought?\u003c/h2\u003e\n\u003cp\u003eThyssenkrupp was cheap, oversold, and hated in July 2024. The industrial sector was in the dumps, sentiment toward European cyclicals was terrible, and the company was surrounded by nothing but negative headlines – layoffs, strikes. I figured the bad news was already priced in, and the cycle had to turn eventually. The downside risk was limited, while the rebound potential was significant. Fundamentally, the company looked decent enough, and I knew the big players would start buying. The valuation was below its multi-year average.\u003c/p\u003e","title":"Thyssenkrupp (TKA) – An Industrial cycle in EU"},{"content":"Welcome to my \u0026ldquo;laboratory.\u0026rdquo; By day, I work as a mechanical engineer, but after hours, I dive deep into the financial world. My posts are mostly about my market struggles, though sometimes you\u0026rsquo;ll find something completely out-of-the-box. In 2026, I temporarily stepped away from the markets to allocate capital toward housing. As a beneficiary of the post-COVID bull run, I decided to put some of those gains toward my financial education. In May 2026, I achieved my first milestone on this financial journey and became a licensed Securities Broker (KNF license no. 3967). I don\u0026rsquo;t disclose what\u0026rsquo;s currently in my portfolio or in what quantities. Most posts focus on fast market moves and things that are already history.\nHow did I end up in finance? Honestly, I just didn\u0026rsquo;t know what to do with my excess cash. I didn\u0026rsquo;t want my savings to sit idle in a checking account or a low-yield deposit. Around 2020, I stumbled upon (thanks to a recommendation, I think) my first finance podcasts, YouTube videos, and books. I started buying stocks seriously in 2022, feeling it was a good time for the next 3-5 years. By 2024, I had practically zero cash and 100% of my capital in financial assets. That was also when I started opening financial reports, reading, analyzing, and making more informed investment decisions. In 2025, I read more and more, dove deep into reports, and also became fascinated by the mechanics of order execution and the liquidity of financial assets. I\u0026rsquo;ve always been interested in business structures, taxation, and entrepreneurship. When I came across the body of knowledge required for the broker exam, I immediately knew it was tailored for me at that moment. Studying was pure joy, and at the first opportunity, I passed the exam.\nWhat\u0026rsquo;s next? 2026 is a year of milestones — my first apartment, the broker exam. Right now, I\u0026rsquo;m out of the market, watching and waiting for opportunities because they\u0026rsquo;re always there — we just don\u0026rsquo;t always see them. I\u0026rsquo;m documenting my observations here. If space and capital allow for further growth in the future, maybe an international exam like the CFA or CIIA.\nLife beyond finance A mechanical engineer from birth. My alma mater is the beloved Poznań University of Technology. Over 10 years of solid experience in industry. Working in this field is a pleasure, though I\u0026rsquo;m far from being a workaholic. Over the years, I\u0026rsquo;ve worked on various projects — the one I\u0026rsquo;m most proud of is the TAWA electric scooter, built in my garage from Polish steel and Chinese electronics. A bit of a geek — I sometimes code, mostly with the help of AI. I love open-source solutions and have been using Ubuntu on my laptop for 15 years. I help my wife grow her ceramic business. I enjoy growing vegetables at our ROD garden and hiking in the mountains. As for sports, currently just the gym — used to play tennis.\nLinks \u0026amp; highlights Printable HTML CV CV Mechanical portfolio — password-protected, available upon request portfolio The story of the TAWA electric scooter TAWA The best ceramics in the world — my wife\u0026rsquo;s website Domekceramik Legal disclaimer The author holds an investment advisory license. However, all content published on this site is for general informational and educational purposes only. Published materials do not constitute personalized investment advice or recommendations under applicable law, as they do not take into account any individual\u0026rsquo;s financial situation, investment objectives, or risk profile. All investment decisions are made at the reader\u0026rsquo;s own risk. The author makes every effort to ensure the accuracy of the materials but accepts no liability for decisions made based on them.\n","permalink":"https://borilab.pl/en/about/","summary":"\u003cp\u003eWelcome to my \u0026ldquo;laboratory.\u0026rdquo; By day, I work as a mechanical engineer, but after hours, I dive deep into the financial world. My posts are mostly about my market struggles, though sometimes you\u0026rsquo;ll find something completely out-of-the-box. In 2026, I temporarily stepped away from the markets to allocate capital toward housing. As a beneficiary of the post-COVID bull run, I decided to put some of those gains toward my financial education. In May 2026, I achieved my first milestone on this financial journey and became a licensed Securities Broker (KNF license no. 3967). I don\u0026rsquo;t disclose what\u0026rsquo;s currently in my portfolio or in what quantities. Most posts focus on fast market moves and things that are already history.\u003c/p\u003e","title":"A few words about me"},{"content":" This is the story of how a few raw steel tubes, some bicycle parts, and a bit of stubbornness turned into this scooter. No internet blueprints, no ready-made kits — just an idea in my head and hours of work in the workshop. Phase 1: The Idea and the Sketch It all started with a simple question: \u0026ldquo;What if I built a scooter made mostly of bicycle parts, with an electric motor, that could handle rough terrain?\u0026rdquo;\nI didn\u0026rsquo;t have a ready-made plan. I started with sketches on paper — wheelbase, battery placement, head tube angle. I knew I wanted:\nLarge wheels — better stability than standard scooters Front suspension fork — comfort on uneven ground Central battery placement — low center of gravity Rear wheel drive — classic construction Phase 2: Materials and Parts Before I started cutting metal, I had to gather everything I needed:\nComponent Source Notes Steel frame Tube bent to order Main frame Suspension fork Old dirt bike Large, 150mm travel 26\u0026quot; and 24\u0026quot; wheels Mountain bikes Front and rear Hub motor (250-500W) AliExpress MXUS Drive Li-ion battery AliExpress Mounted on frame, 48V Controller and throttle Included with motor Electronics Standing platform Laser-cut and welded Custom design Phase 3: The Frame — The Key to the Scooter This was the most difficult stage. The frame had to be stiff yet light. I made it from S355 steel tube welded with TIG.\nStep by step: Measurement and cutting — precise tube bending according to a 3D model at a specialized company Edge grinding — preparation for welding Welding in a jig — ensuring symmetry and correct angles Finishing work — grinding and cleaning the welds 💡 Tip: Thin steel is demanding to weld. Clean edges and the right parameters are the key to a durable weld.\nPhase 4: Suspension and Wheel Assembly Once the frame was ready, it was time for the remaining details. A test assembly with the wheels before further stages. A quick check to see if I was on the right track.\nWheelbase and geometry were critical. Too steep a head angle = twitchy handling. Too slack = sluggish turns. After minor corrections, I hit the sweet spot.\nPhase 5: Electrics — The Soul of the Project Without the electrics, it\u0026rsquo;s just an ordinary scooter. I installed:\nRear hub motor — maintenance-free, quiet 48V / 10Ah battery — mounted centrally on the frame Controller — hidden under the platform Throttle grip — on the handlebar LCD display — speed and charge level Test ride!\nThen came the time for smaller and larger details, like the battery mount.\nPhase 6: Finishing and Details Raw steel looks cool, but it rusts quickly, so painting was essential: Eventually I plan to powder-coat the frame, but for this first prototype I sprayed it in the backyard :)\nThe scooter after assembly with the controller visible.\nPhase 7: The First Ride The moment of truth. Tension, turning the key, a gentle twist of the throttle\u0026hellip; and we\u0026rsquo;re off!\nThe scooter after the first 1,000 km. The weirdest vehicle in the rack! Time for the nameplate! TAWA was 3D-printed and fitted to the curve of the frame. The nameplate on the side of the frame fits the yellow beast perfectly! First riding impressions? Surprisingly stable. The large wheels do the job, and the central battery keeps the center of gravity in a good spot. Acceleration is smooth, and the range is enough for daily commutes — about 50 km.\nTechnical Specifications Parameter Value Frame S355 steel, TIG welded Wheels 26 and 24 inches (MTB) Suspension Front fork Motor Hub motor 250-500W MXUS Battery 48V / 10Ah (360Wh) Range ~50 km (depending on mode) Max speed 40-45 km/h Weight ~22 kg Brakes Disc (rear only for now) What Would I Change? Every project teaches you something new. If I were to build it again:\nLighter battery — I\u0026rsquo;d consider lighter, higher-quality cells Disc brakes — I\u0026rsquo;d add a front brake; rear only is not enough LED lighting — factory-integrated with the battery Summary This was a months-long adventure full of challenges, mistakes, and small victories. The result? A scooter that no one else has. You can\u0026rsquo;t buy it in a store. There\u0026rsquo;s no other like it.\n\u0026ldquo;Hand-built things have a soul. I left mine in every welded joint.\u0026rdquo;\nHave questions about the build? I\u0026rsquo;d be happy to share details if you reach out 👇 info@borilab.pl\n","permalink":"https://borilab.pl/en/tawa/","summary":"\u003cspan style=\"color: #e74c3c;\"\u003e\nThis is the story of how a few raw steel tubes, some bicycle parts, and a bit of stubbornness turned into this scooter. No internet blueprints, no ready-made kits — just an idea in my head and hours of work in the workshop.\n\u003c/span\u003e\n\u003chr\u003e\n\u003ch2 id=\"phase-1-the-idea-and-the-sketch\"\u003ePhase 1: The Idea and the Sketch\u003c/h2\u003e\n\u003cp\u003eIt all started with a simple question: \u003cem\u003e\u0026ldquo;What if I built a scooter made mostly of bicycle parts, with an electric motor, that could handle rough terrain?\u0026rdquo;\u003c/em\u003e\u003c/p\u003e","title":"Scooter TAWA - building a all terrain e-scooter"}]