Quotes
Lessons & Thoughts
"It's demography that makes History not the opposite. The world's axis has shifted East. The West has 800m people. The East has 4bn. In 30 years, Africa will have 2.5bn people just as Europe will decline from 500m to 450m. Geography is another driver. Countries do not change addresses. Religion is also important. Europe cannot escape its judeo christian roots. Identity politics is making a come back. As if reflex is crispation. Nobody is ready to die for laicity. Nothing replaces the sacred. Europe's problem: regimes stuck by contradictions, where everybody can say no and nobody can say yes. Success in politics is defined by the adequation between who we are and what we say. It 's about incarnating an idea. TV listens with the eyes." Nicolas Sarkozy PointG interview
Tudor
Technicals
"Don't sell before you see the top. Trick recognise if it's a bull flag or a top. Use fundamentals."
"Invest then investigate."
"Look for big themes, 2 year cycles big moves big enough to express views in big positions. Buy the future in 12-18 months"
"I compete against the opportunity set. I.e if the market makes 10% and do less, not doing job well."
"concentration risk but liquidity + look at all asset classes for diversification. However, bet big. Not about batting average but about how much money you make when right".
"soros ready to 2x position size in 3-8th innings because higher probability can be leveraged, whereas Druck is more comfortable to start at 1st inning and grow position to 4-5th innings. Difference between a fundamental analyst who sees things early and a trader who is not afraid to leverage high conviction high probability trades"
"read newspapers, start early"
"when right go for the jugular, then also exploit the next move. Example: sterling bet 2x of funds, then move to buy gilts, then bought equities etc..the same way sterling drop of the exchange rate mechanism was 3 years in the making following the fall of the Berlin wall"
Russell
Macro news
Money
The three horsemen of liquidity and "death nails of the market"= strong USD, high interest rates, high oil prices
GDP
Interesting set up in America ahead of the election
Asset allocation
FX
Trump is ST bullish for the dollar = lower taxes + higher rates = bull dollar. LT, depends on the success of the policy and state of US debt.
Precious metals
Crypto
Fixed income
Equities
Themes, Sectors & Corporate news
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