This week Chris and I kick back.
Inspired by Jeff Bezos, and his recent jaunt to St Barts, I reveal my 20 hour fast and avocado regime. To me, longevity and contrarian investing are bedfellows. Chris shakes his head in disbelief. But discipline, do you have the discipline ?
Chris has his runner’s legs on and wants to know more about what’s knocking the capital markets this week. Bonds, not James ! The ongoing disturbance in the US Treasury market is discussed. Better to construct an inventory of ideas than trade against the trend. Check your premises!
This week we take on The Raiders of the Lost Ark, via Cathy Wood’s flailing tech fund, and ask why markets generate mysticism to create retail super-star managers and why their unwieldy funds so often hit the skids.
Shorting is this week’s focus. Why do it? The epic squeeze of Volkswagen in the midst of the chaos of October 2008; remember when it was largest company in the world? Utter Chaos. Yes, it really happened and it makes the punk reddit kids seem like angels.
I lavishly praise John Armitage, a legendary British hedge fund manager who stopped shorting entirely. The cautionary tale of AW Jones, the manager who first brought Long / Short Strategies to the public’s attention, is examined. You will not believe the paradox of what befell him in 1969.
No one is spared. I loved Ken Fisher’s book Superstocks. I’m less of a fan of the man himself. The gloves come off and at the end I even confess that I’m seeing a re-awakening in the gold sector. Really? Is that possible? Just don’t tell anyone I said so…
Tune-in or be square…