Month

Hope all goes well… Dusted off an old anecdote about trading, risk taking, seeing the future unfold in the past (see below). I give myself a break from writing each August to get some altitude, find a little space. See you again in September with full weekend notes.  Week-in-Review (expressed in YoY terms): Mon: China’s PBOC makes the Loan Prime Rate (LPR) the new benchmark for lending (results in lower borrowin

Hope all goes well… Dusted off an old anecdote about China’s use of the power of fiat money and how it fits into their broader approach to policy (see below). It’s something worth considering as the west shifts away from central bank independence. I give myself a break from writing each August to get a little altitude, find a little space. See you in September with full weekend notes.  Week-in-Review (expressed

Hope all goes well… Dusted off an old climbing anecdote from my days in the mountains (see below). I give myself a break from writing each August and try to get a little altitude with the family. Wishing the same for you and your crew. Week-in-Review (expressed in YoY terms): Mon: China let’s RMB fall through 7.00 and announces halt to US agricultural purchases in response to US trade pressure, China Caixin services

“Guess what happened today Dad?” yelled Charlie (10), biking in slow circles, waiting for me, some new story to tell. I’d just pulled into our driveway, another day of grinding it out in markets. “I got a leech on my ball sack!” he screamed, laughing, for all the neighborhood to hear. You see, Mara and I didn’t have four kids to turn around and pay others to work around the house. They do everything. Which means our

Hope all goes well… “All consequences are at your own risk,” warned the People’s Liberation Army in their viral video, delivered in Hong Kong’s local dialect, as troops and tanks conducted anti-riot drills. Courageous protesters carried on, tear gas tumbling. 1,000 Russian pro-democracy protesters were arrested last weekend. Moscow riot police beat the crowd. 600 hundred more were arrested yesterday as spontaneous pr