Not for Everyone. Maybe for You.
Smaller companies. Concentrated positions. Real volatility and real risk of loss. Only if you've set this money aside knowing you might lose it. 1.60% annual fee.
Who This Is For
Most people shouldn't own this. Keep reading if it might fit your situation.
You Understand the Risk
This portfolio can drop 40% or more. That's not a disclaimer. It's what happens with higher-volatility investments. You know that going in.
You Have Money You Can Lose
This isn't your retirement savings. This is money you've set aside knowing it might not work out. You can afford to lose it.
You Like Emerging Themes
Quantum computing, space, nuclear, AI at the edges. Companies that are early, small, and volatile. These are not proven businesses, and most will face setbacks. Early-stage companies often face setbacks or fail entirely.
Not sure if this is the right fit? See how it looks for DIY investors and tech workers.
The Positions
Smaller Companies
Companies in frontier areas: quantum computing, electric aviation, space, drones, nuclear energy. Not household names.
Selective Entry
I enter positions selectively, with a clear reason for each. Each position still carries real risk of loss.
Position Size Limits
Each position is capped at roughly 5% of the portfolio to limit single-stock risk.
Not Diversified
This portfolio is concentrated and thematic. It is not diversified, not hedged, and not safe. Every holding carries real risk of significant loss.
What to Expect
This is not optional reading. Here's what you're actually signing up for.
- Sharp declines: This portfolio can drop 30%, 40%, or more. That is not a hypothetical. It is a realistic outcome.
- Individual company failure: Small companies can fail entirely. A single position going to zero is possible.
- Liquidity risk: Smaller stocks can be harder to sell quickly. Wide bid-ask spreads can amplify losses.
- Thematic concentration: If an entire theme (e.g., quantum, space) falls out of favor, multiple holdings get hit at once.
- Loss of principal: This portfolio is suitable only for investors with high risk tolerance who can absorb large losses. No model portfolio is guaranteed to achieve its objective.
One Fee. No Surprises.
The Speculative Portfolio charges 1.60% per year, billed quarterly based on your account value. That's it.
Advisory fee only. Excludes brokerage costs and taxes. Deducted quarterly.
| Fee Type | Amount |
|---|---|
| Advisory fee | 1.60% / year |
| Trading commissions | $0 |
| Referral fees | $0 |
| Insurance sales | $0 |
| Hidden fees | $0 |
Your money is never in my hands.
Trading authority only. I manage your portfolio. I can't withdraw your funds.
How to Start
Three steps. Here's how it works.
Tell me about your goals
A short questionnaire covers your timeline, how much loss you can handle, and what you're investing for. I'll likely have a few follow-up questions, especially for this portfolio. I need to be sure this fits your situation and ability to absorb losses.
I match you to a portfolio
Based on your answers, I recommend the model portfolio that fits your situation: Income, Growth, or Speculative. I won't recommend this portfolio unless I'm confident it fits your situation and ability to absorb losses.
I manage it from there
Trading, rebalancing, monitoring. I handle the day-to-day. You get updates and can reach out anytime. You don't have to watch the screen.
You can stop anytime. No contracts, no exit fees.
Questions
Things people ask about the Speculative portfolio.
Individual positions can go to zero. The portfolio as a whole can decline sharply. This is real capital at risk, not play money.
Smaller companies, earlier-stage themes, more concentrated. Growth holds established companies with competitive advantages. Speculative holds companies that are small, early, and volatile.
No. This is not a retirement portfolio. This is for capital you have specifically set aside knowing you can afford to lose it.
It varies. I'm not day-trading, but I'm more active here than in the other portfolios. Position entries and exits depend on catalysts and thesis changes.
Still have questions? Send me a message →
About Me
Software engineer turned investment adviser.
Based in Sandy, Utah. I work with clients remotely. No office visits required. My only income is the advisory fee on this page. No commissions, no products. Form ADV 2A (opens in new tab) has the full picture.
Registered Investment Adviser
Verify on IARD (opens in new tab)Read the disclosures: Form ADV 2A (opens in new tab) · ADV 2B (opens in new tab) · Privacy Policy (opens in new tab)
Most advisers won't tell you this portfolio isn't right for everyone. I will. I monitor fewer positions, which means each one gets more attention, but concentrated holdings also magnify mistakes.
Before this, I built the software that traders use to make decisions. Analytical tools, backtesting systems, the kind of work where you learn to think in data and probabilities. That background is especially relevant here, where concentrated positions require closer monitoring. When you email or call, I'm the one who replies.
NarStar registered in Utah in January 2026. I don’t have years of client results to point to yet. What I do have is my registration, my disclosures, and the fact that your money sits at Interactive Brokers (opens in new tab) in your name, not mine. Any remaining conflicts of interest are described in my Form ADV Part 2A (opens in new tab).
Want to talk? Send me a message
Interested in the Speculative Portfolio?
No sales pitch. Just a conversation.
- I reply within 1–2 business days.
- pavel@narstar.capital
- 801-251-6844