Insights
Quick reads on markets and policy
Written for practitioners and informed investors—free to read, dated and sourced. You’ll find short market and macro notes that explain moves and policy shifts without the noise; evergreen principles that clarify risk, ranges and behaviour; and concise explainers on the themes we’re asked about most. When doing nothing is the right call, we say so.
Three Stopped Calls Before a US$6bn Technology Purchase
A famous fund spent months preparing for a technology sell-off. Then its manager tried three times to buy back in, stopped himself, and finally made the call.
What a Reversal Must Write Down Before It Trades
When a position returns after being deliberately removed, the record should show what reopened the case, when the first trade appeared, and how the new conclusion became this exposure.
Eleven Months of Risk Reports on One Profitable Client
One prime brokerage left an unusually detailed internal record: limits, stress tests, margin calculations, and the decisions made as a concentrated client’s exposure kept growing.
What a Position Ceiling Rests On, and Who Can Move It
A position boundary matters most after the holding succeeds. The record should preserve the assumptions behind it, later revisions, capacity created, and the consequence of a breach.