{
  "disclaimer": "Goldirham Insight: educational research, not financial advice. Scores are editorial opinions, not forecasts. Simulated prices are illustrations, not market data.",
  "rows": [
    {
      "symbol": "SMH",
      "name": "VanEck Semiconductor ETF",
      "theme": "Concentrated exposure to the AI chip supply chain",
      "upside": 7.5,
      "safety": 6.5,
      "ai_exposure": 9.5,
      "review_status": "unreviewed",
      "reviewed_by": null,
      "reviewed_at": null,
      "review_sources": null,
      "thesis": "NVIDIA, TSMC, Broadcom, AMD and the rest of the silicon stack in one fund.",
      "why_it_could_work": "Owns the entire AI compute supply chain at once | Top holdings are the indispensable chip leaders | Captures the theme without single-stock timing | Liquid and widely held",
      "key_risks": "Highly cyclical and volatile | Concentrated in a few top holdings | Geopolitical (Taiwan) exposure via TSMC",
      "cycle_stage": "Thematic satellite — concentrated bet on AI silicon."
    }
  ]
}