There is definitely a ‘profit taking’ feel around things at the moment, as Oil and Crypto both sell off and Gold and the Dollar rally.

As we run into Thanksgiving, traditionally the ‘end of the year’ for a lot of trading funds, many market signals are being distorted; by options trading and gamma squeezes in equities and by forced unwinding of curve trades in the bond markets.

While on the one hand the IPO of Rivian this week should put a final nail in the coffin of Tesla’s cyber truck project, on the other hand Rivian itself looks like it may be too late to the party for Electric pickups now that Ford is producing its own version.

When looking at Thematic funds for long term investing, the key thread that runs through most of them is digitalisation and what some refer to as the fourth industrial revolution and the internet of things.

So Facebook have rebranded as Meta and the buzz is growing about the MetaVerse. Despite all the memes and the criticism of FB/Meta, the key takeway is that this whole Internet 3.0 and the world of Crypto is simply now ‘too big to fail”.