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Nov 12, 20213 min read
Last Call For Alcohol
In July 2007, Chuck Price the former CEO of Citi infamously proclaimed, “as long as the music is playing, you’ve got to get up and dance,” h
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Nov 11, 20213 min read
The Shirt-Front on Team Transitory
The disturbing element of October’s inflation print is that two key elements of consumer price index are yet to be fully reflected in the da
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Nov 10, 20213 min read
Deep Discomfort - Taking on Asian High Yield
One of my mentors used to say that the best trades are often when you feel deeply uncomfortable about the position. Asian High Yield falls i
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Nov 9, 20213 min read
The Non-Predictions for 2022
As is customary at this time of year, analysts start to publish their economic and market forecasts for the following period. From a top-dow
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Nov 5, 20213 min read
Terminal Velocity
As widely expected, the Federal Reserve has started to taper its asset purchase program and retain flexibility on the pace of reduction movi
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Nov 2, 20214 min read
No Love for Dove
The November FOMC is shaping up as one of the more eventful meetings of Powell’s tenure at the helm of the Fed. ...
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Oct 10, 20216 min read
The Shortage Economy & Correlated Beliefs
An important element of our process is having a sense of the prevailing bias or consensus beliefs. That is particularly important when it...
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Oct 5, 20216 min read
The Cluster.... of Net Zero
As one astute Italian observer put it “the arithmetic of energy is pretty straightforward. Resources are depleting fast, as the easier...
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Sep 28, 20213 min read
How Deep is your Dove?
As we suspected the Jerome Powell’s Jackson Hole speech was not a watershed event. The Fed Chairman broke little new ground,...
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Sep 20, 20215 min read
China & Systemic Risk
Most crises throughout history have been caused or exacerbated by a build up of excess credit. When the economic history books are...
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Sep 17, 20215 min read
Fighting the Tape(r)
Summary 1: Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua....
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