Blog Posts

Business models can take many different shapes depending on the way the products and services are delivered to the market. Asset-lite and asset-heavy businesses can largely be viewed through a “pipes” (pipelines) vs. “platforms” framework. Recognizing the two and their differences is important as it will ultimately help determine the nature of a stock‘s upside […]

Cryptocurrency is an incredible invention. It’s increasingly become a type of currency and store of value that’s been programmed into a computer and sustained to last. At this time of increased money and debt creation as economies try to relieve their economic problems – a process that will go on for some time – there […]

AQR recently published its report on its expectations for asset class returns over the medium-term – i.e., next 5-10 years. This covers the following asset classes: – US equities – Non-US developed market equities – Emerging market equities – US high-yield credit – US investment-grade (IG) credit – US 10-year Treasuries – Non-US 10-year government […]

GameStop (GME) and AMC Entertainment (AMC) made a notable run, ignited by a social media frenzy that took on a life its own. We discussed more of the backstory in other articles, such as here. There was a pop and that eventually faded. This was inevitable, as these companies – and other widely shorted small caps […]

In short, GameStop (GME) mania began when some smart retail traders started hyping up a stock on social media with some peculiar characteristics: 1. It had a low valuation. Its price reached a low of $2.57 per share. That valued the once-popular video game and consumer electronics retailer at only a couple hundred million dollars. […]

There is a new paradigm in monetary and fiscal policy. This has implications for investing in a zero interest rate environment. For a brief refresher, there are three broad categories of monetary policy (which has been covered in other articles in more depth). i) Adjustment of short-term interest rates. Once you get those to zero […]

Envisioning the next major military war and its impact on financial markets (and, of course, the world) is difficult, as the range of unknowns is so high. But one thing we should acknowledge is that it’s likely to be much more brutal than most would imagine. World War II was much more deadly than World […]

Consumer staples are among the most stable types of stocks that return fairly consistently. The volatility of stocks is one of the main reasons why many traders and investors are hesitant to commit to them. What are consumer staples and what makes them attractive? Certain businesses involve selling products people need to physically live. This […]

The geopolitical war occurring between the US and China is one of the many conflicts occurring between the two countries, including: i) trade and economic ii) capital (currency, debt, capital markets) iii) technology iv) geopolitical v) military As we’ve mentioned in other articles, understanding these various conflicts are important for traders and investors to understand. They involve the two largest […]

The technology war is a particularly serious conflict within the scope of US-China relations. Both countries know that whoever is superior technologically will also be superior in most other ways. Whoever wins the technology war is also very likely to win the economic and military wars as well. For this reason, the technology war is […]