Market Thinking

making sense of the narrative

On the Twelfth day of Christmas

Leaving the quixotic and authoritarian world of the Hong Kong Zero Covidians ahead of schedule on account of (correctly) anticipating the rational response of most western aircrew to the latest prospect of 21 days in Penny’s bay solitary confinement (see Read more…


Fomo plus Lol = OMG

The second half of the year saw accumulated fragility within markets, as a Fear of Missing Out dragged in more retail investors and day traders, many of whom used Lots of Leverage via short dated options to exploit a Lack Read more…


Build Back META

The Pre-Thanksgiving Profit taking is hitting a lot of digital stocks this week, with some of the themes we follow like Digitalisation and Digital Health in particular getting hard hit, while it is also worth noting that the three Tech Read more…


All your Savings are belong to US

Sometimes it is annoying/alarming to be right. As we noted in Trojan Horses and slippery slopes, the takeover of private sector savings to serve public sector policies is continuing apace. the seemingly unstoppable ESG bandwagon may well represent a Trojan Read more…


New Themes and New Players

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. New players are not only moving into trading Crypto, but also in owning parts of Read more…


Options trading gives options for trading

Short Term Uncertainty 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 Read more…


Do we care about Tesla Vapourware?

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 Read more…


Market Thinker

Think like a Zoomer. Internet 3.0 is going to be just as disruptive as the two versions that came before it. When looking at Thematic funds for long term investing, the key thread that runs through most of  them is Read more…


Welcome to the MetaMask

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 Read more…


A Black Block from Blackrock at THG

In recent months I have found the comments below THG stories in the Times to be quite useful as they have been in dramatic contrast to the recycled PR puff pieces above the line – indeed many of them pointing Read more…