Quick Passages

Here is some more context. The US had 82% cumulative broad money supply growth over the past decade. Egypt had 638% broad money supply growth during that same time period. And the Egyptian pound underperformed the dollar by approximately that ratio; a decade ago a US dollar was worth a bit under 8 Egyptian pounds, and today it’s worth a bit over 50

Anatoly of Chinese surplus

ChatGPT’s output is the average of the internet. It has seen the best and worst of human work, from angsty teenage fan fiction to the collected works of Ernest Hemingway, and everything in between. But because it is the average, the default response you get is often undifferentiated and bland. ChatGPT is capable of doing almost anything—you just ne

Myself and many others would argue that a major currency devaluation is a type of default. In that sense, the US government defaulted on bondholders in the 1930s by devaluating the dollar vs gold, and then again in the 1970s by decoupling the dollar from gold entirely. The 2020-2021 period was also a type of default, in the sense that the broad mon

Inflation Gold Energy EM Government Bonds

Change in Global Policy

The sources of alpha can be segmented into four key areas:

Information: The advantage of possessing data that others do not.

Processing: The capacity to interpret and analyze data more effectively than others.

Modeling: The ability to design superior mathematical models that reflect market patterns and behaviors.

Speed: The advantage of acting quicker