Don’t Look Up !
It’s Friday…are you ready for an epic adventure ? If you can peel your eyes away from the closing candle formation on the yield of the US Treasury as it battles an obvious key level, I got a new podcast just out with co-conspirator, Chris Sweeney.
Find out why I was channelling The Beatles back in 2005. Paul was sorrowful as the band’s commercial infighting saw them disintegrate just as the French were demanding that their wartime allies send them gold and not all this funny dollar money…gratitude ?
I explain my fear of financial meteors and recount a tale that sees men in kilts wading through pools of reindeer blood. These are the memoirs of a macro trader – full disclosure, good and bad…never forget that ALL WORK IS AN ACT OF PHILOSOPHY. I explain in toe curling detail, the first time I took a really good hosing; warning, it’s shocking. More big currency gyrations. I attempt to fit together the jigsaw pieces of 5 year lows in the Japanese yen, the sell-off in US Treasuries and
the absurd and persistent cheapness of volatility in the Japanese industrial sector. You pay $3k to insure a $1m of junk operational and leveraged blah blah. Blame Netflix, but I’m fearing a meteor strike on planet “markets” and I’m dusting down some really old convex trades. If Chinese property is 4x GDP and falls 40% that would be the equivalent of vaporising one third of global GDP. BOOM ! BABY. Maybe Hollywood is right ? Don’t Look Up !!
Links to following chapters can be found in the video’s description.
00:01:45 Hugh gets a good hosing…
00:07:30 Making a Raucous amount of Money
00:15:25 Convexity Death Star – Japanese CDS
00:21:00 The Legitimacy of Shorting
00:26:40 Is Apple cheap ??
00:30:50 Money Heist set in the wrong Century
00:36:50 Cultural R.E.M – Are you Tuned In ?
00:55:00 Yen and China – Macro Conjecture
01:02:35 Reindeer Blood
01:05:00 The Curious Case of US Treasuries
01:11:50 Men in Kilts
The irony being that I just lost a subscriber as I wrote this 😂🤣🤣 the impertinent malice of mediocrity boastfully holding up its own emptiness as an abyss to be filled by the bodies of its betters – God! Atlas Shrugged is everywhere #Free Novak