March 2024 Musings – An Age of Debt & Rising Rates

Articles I'm reading Reuters reported about Taiwanese chip manufacturers expanding their operations in Japan, which is illustrative of the China decoupling trend that is taking place. Reuters estimated that at least nine Taiwanese firms have set up shop or expanded operations in Japan over the past two years. These firms include ASICs maker Alchip Technologies, … Continue reading March 2024 Musings – An Age of Debt & Rising Rates →

February 2024 Musings – The Birth of Modern Prosperity

Articles I'm reading Dario Perkins of TS Lombard updated on where we are in the economic and business cycle, along with all the peculiarities of this post-Covid cycle that we're experiencing. In short, we all know it's not a usual business cycle, which suggests that we cannot use traditional models or templates to analyse it. … Continue reading February 2024 Musings – The Birth of Modern Prosperity →

January 2024 Musings – Bull Markets Upon Us

Articles I'm reading Bridgewater published an article "The Big Picture: Back to the Future" where they explore the big secular forces that will dominate the investment landscape for this decade and more. These secular forces include the likes of government spending, geopolitical tensons, Artificial Intelligence (AI) and climate change. There's also a mention of how … Continue reading January 2024 Musings – Bull Markets Upon Us →

Monthly Musings – October 2023

Articles I'm reading AQR Capital Management published a paper "Honey, the Fed Shrunk the Equity Premium" where they explore the implications of higher interest rates on asset markets and how asset allocation may be affected. AQR conducted an empirical study across fixed income, equities and alternative investments and compared those historical patterns to yield-based returns … Continue reading Monthly Musings – October 2023 →

Monthly Musings – August 2023

I've started a monthly series where I share interesting things I've come across (articles, podcasts, reports, recent travels, etc.) with brief summaries for your reading pleasure. I know I missed July's round so I'm putting them in for August's issue: Articles I'm reading Harley Bassman (in case you don't know, he invented the bond market … Continue reading Monthly Musings – August 2023 →

Monthly Musings – June 2023

I've started a monthly series where I share interesting things I've come across (articles, podcasts, reports, recent travels, etc.) with brief summaries for your reading pleasure. Here's June's issue: Articles I'm reading Venture capitalist Marc Andreessen published a relatively long post on Andreessen Horowitz's site titled "Why AI Will Save the World" - arguing that … Continue reading Monthly Musings – June 2023 →

Monthly Musings – May 2023

I'm starting a monthly series where I share interesting things I've come across (articles, podcasts, reports, recent travels, etc.) with brief summaries for your reading pleasure. Articles I'm reading Dan Wang (of Gavekal fame) was interviewed by Noah Smith in this piece and it's a very astute take of today's China. Source: Noahpinion Dan is … Continue reading Monthly Musings – May 2023 →

Bank runs & complex systems – Reflections from Sarawak

"There are decades where nothing happens; and there are weeks where decades happen" Vladimir Lenin I was visiting relatives in Kuching, Sarawak when the multiple news reports of American bank failures hit the screens and home televisions the world over. The speed and ferocity of the downfall of Silicon Valley Bank (SVB) and the subsequent … Continue reading Bank runs & complex systems – Reflections from Sarawak →

Embracing the opportunities of a multipolar world

The Battle of Red Cliffs (赤壁之戰) at the end of the Han Dynasty, ca. AD 208 "The world under heaven, after a long period of division, tends to unite; after a long period of union, tends to divide. This has been so since antiquity" Ancient Chinese proverb The Chinese believe that the above saying accurately … Continue reading Embracing the opportunities of a multipolar world →