Serious investment thinking that doesn’t take itself too seriously.
In case you missed it, Trump put the screws to China, while giving the rest of the world another 90 days to negotiate. Negotiate what? Unclear, but Random Walk thinks it’s some combination of buying more stuff from the US (or investing in the US); buying less stuff from China; and/or lending...
“Phil, I’m a melting ice cube.” I was having lunch with a friend who holds a senior position at a large, dull asset manager. “Nothing works anymore. Nothing. Not on the portfolio...
When I started in real estate more than 25 years ago, nobody was really interested in listed property. At that time, I was a real estate equity analyst at ABN AMRO (later with JP...
How much of the yellow metal does the US actually have? Two rumours have been swirling around the gold markets for many years. Some have called them conspiracy theories. Others...
As we stop having kids, do we still need real estate developers? Regular Thesis Driven readers know that I’m as pro-housing as they come. Home prices and rents in the places with...
There's no need to be beastly to the hun if the hun are being beastly to themselves. Who needs fake news when the real news is scarcely believable? The Daily Telegraph, Britain’s...
Underestimate a man like this at your peril. I’m writing a longer post, but it’s taking two days, so in the meantime, here is one of the more absurd statements I’ve seen...
Tariffs appear to be the opening salvo of a wider plan to shake up global trade, but is this all a sign of American weakness not strength? The press usually treats a strong gold...
I almost never watch Prime Minister’s Questions, but led there by another topic, I found myself hearing the Prime Minister (8th January 2025) confirm the repurchase of some...
For advocates of free trade and globalisation, tariffs are always bad. Reality is, as ever, more nuanced. With President Trump ensconced in the White House once again and busy...