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
MMT stands for 'Modern Monetary Theory', and it may be the next must-know term to know and understand before it becomes mainstream. OK, but what exactly is Modern Monetary Theory? The Roosevelt Institute published an article about it eight years ago, and it simply describes a school of thought in macro-economic thinking that revolves around … Continue reading If there’s one thing to know soon, it’s MMT
The Ancient Silk Road was known to be the stuff of legends, inspiring many of our ancestors back in those days enthralled by adventure and mystery. The famous Venetian merchant Marco Polo recorded his journey across Asia through this ancient travel and trade route, which for centuries, have allowed merchants, traders, travellers, missionaries and diplomats … Continue reading Playing China’s ‘One Belt, One Road’!
The first half of 2017 is over, and my book remained almost unchanged from the end of 1Q 2017 to the end of June. I maintain my defensive stance, risking one-third of my usual sizing for any new positions and also gunning for lowly-correlated positions in terms of price structure as well as fundamental logic. … Continue reading 2nd Quarter 2017 Review & Strategy for 2H 2017
The Brits are officially leaving the European Union (EU), following the invoking of Article 50 and British envoy Tim Barrow handling a letter to the EU Council on the 29th of March 2017. An informative book on the subject is explored by Roger Bootle of Capital Economics, and I've found it to be highly instrumental … Continue reading Playing Brexit: Long Euro & short Sterling
En Garde! French citizens are once again heading to the polls in what is arguably 2017's most widely and closely-watched high key political event: the French Presidential and Parliamentary Elections! At stake? Possibly the future of the European Union (EU). That's because one of the potential candidates for the Presidency, Madame Marine Le Pen, is calling … Continue reading En Garde! Playing the French Elections & a Frexit?
Anthony Bolton is one of Britain's most well-known investors. He has managed money professionally for close to 3 decades at asset management firm Fidelity Investments. And during those many years at the helm of the Fidelity Special Situations Fund, he has achieved an average annualised return of 20%! Bolton shared his wealth of experience in … Continue reading Anthony Bolton’s Insights On Investing
In the Mediterranean in May 1954, warships of the Royal Navy gave a 21-gun salute to Britain's new monarch, Queen Elizabeth II, who was on-board the private vessel, the Royal Yacht Britannia, returning from a global tour of Britain's realm. The ceremony was glorious, and was a demonstration of naval power reminiscent of the origins … Continue reading The End of Pax Americana?
2016's been accepted as a watershed year: a year where we saw a rise in populism in the West. There's been countless articles and commentaries written on this rather (un)eventful year, so I shall not add to the existing pile. As global macro investors, we are well aware that developments in the political realm can lead to changes … Continue reading Investing in an age of populism…
2016's a year that has been dominated by concerns over banks, and in particular, European banks. Financial markets were spooked in January after banks like Deutsche Bank missed 4Q 2015's earnings targets by a wide margin, and solvency problems also rose as investors became concerned that banks and lenders around the world would be affected … Continue reading Europe’s banks turning the corner?