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![Cheytax_1 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1886290407501557760.png) Cheytax Management LLC [@Cheytax_1](/creator/twitter/Cheytax_1) on x XXX followers
Created: 2025-07-22 17:00:07 UTC

Had a conversation recently with one of the best Head of Research in Indonesia. Someone sharp, honest, and already fed up. He said to me:

“It’s irrational. The breadth of the index is irrational. Clients keep asking whether this is justified or not… and honestly, I just hate the game. No other words.”

And I get it.

As per today, JCI is up XXX% YTD, while LQ45, which consists of the most fundamentally “sound” companies, down 6.6%.

You’d think that solid balance sheets, top tier governance, and consistent profitability would mean something. But in today’s market? It means nothing. The game has changed, and nobody wants to admit it.


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947703215447011402/c:line.svg)

**Related Topics**
[fed](/topic/fed)
[$6753t](/topic/$6753t)
[indonesia](/topic/indonesia)

[Post Link](https://x.com/Cheytax_1/status/1947703215447011402)