The newsletter is sent around 4 p.m. (AEST). every day. I try to write five letters a week (Mon-Friday). My focus is on researching signals that have a statistically significant probability of providing superior risk-adjusted returns. I also share my views on the news of the day with some actionable insights.
Disclaimer: This is not financial advice. I have not considered your individual circumstances. I propose actionable insights from a hypothetical general global macro strategists point of view, trying to achieve above-average risk-adjusted returns whilst considering the major macro themes currently in play. I am not licenced to provide individualised financial advice; therefore, any investment decision you make is solely your responsibility.
#237: Gold from Another Angle
A look at gold adjusted by inflation and stocks. I make the case for gold to continue higher that it is not overbought despite the rare 8 weeks in a row that it is up.
#236: Michael Drunken Saylor
We look at how MicroStrategy is spending its $42 billion. We comment on corporate bond yields and low bond volatility.
#235: Rates Down Under
I discuss the RBA rate cut today and show previous rate cut cycles have been for stocks and the currency.
I also review my long Hang Seng (China) and short US trade.
#234: META: More Comprehensive
META is up 20 days in a row, so I take a comprehensive look at how overbought it is and what shorting it from here is likely to achieve.
#233: Just Do It – Mike
I talk about passthrough rates at hedge funds, inflation & gold.
#232: How to Beat the Status Quo
Some thoughts on portfolio construction and 60/40 portfolios and inflation expectations.
#231: Has Gold Gone Too Far?
I look at a few mean reversion strategies to see if now is a good time to lighten up on gold.
#230: All that Glitters is Not Gold
A look at how gold has performed over the last few decades.
#229: How to get Close to your Neighbours
A quite sophisticated look at correlations from a modern Higherachical Clustering Diagram.