certainly, Europe appears to be quite comfortable receding into irrelevance as they pound on righteously about whatever social virtues are apropos of the day
Convertible bonds issued to buy Bitcoins; risk parity strategy now bundled into ETFs; CLOs now advertised (per RBA, an historically prudent assets manager) as a cheap and liquid (!?!) alternative to traditional bonds. If you do stupid things, there will be retribution, i.e. mean reversion.
The "real world" and the "digital world" are no longer separate markets; their integration is creating new winners and losers. Positioning in the companies driving this transformation could lead to outsized rewards, but geopolitical tensions and regulatory risks cannot be ignored. The world is not just digitizing—it’s being redefined! Great video, thank you!
I can't reconcile your last posts with your long book portfolio: I can't believe that 2 oil explorers, 2 japanese banks and gold are the winners in a (supposed) digital world.
Software eating the world is indeed what I am alluding to - but in this case, I am talking about how software is changing the "real world" . I always thought Marc was talking about how many things software can do that we used to use hardware for (alarm clocks, digital phones). I am talking more about how the relationships between humans are changing
certainly, Europe appears to be quite comfortable receding into irrelevance as they pound on righteously about whatever social virtues are apropos of the day
Convertible bonds issued to buy Bitcoins; risk parity strategy now bundled into ETFs; CLOs now advertised (per RBA, an historically prudent assets manager) as a cheap and liquid (!?!) alternative to traditional bonds. If you do stupid things, there will be retribution, i.e. mean reversion.
The "real world" and the "digital world" are no longer separate markets; their integration is creating new winners and losers. Positioning in the companies driving this transformation could lead to outsized rewards, but geopolitical tensions and regulatory risks cannot be ignored. The world is not just digitizing—it’s being redefined! Great video, thank you!
https://www.macrovoices.com/guest-content/list-guest-publications/5633-stonex-shadow-work-shadow-lending-and-shadow-savings/file
Great post.
According to Vincent Deluard at StoneX, the self-employment/gig economy of the US is conservatively around $5 trillion and growing 10% /year.
Crazy stat, in 2023 only fans paid its creators more money than the entire outlay to NBA players.
But what will happen to the creators when the new DOGE department will force government employees to actually go back to work?
I can't reconcile your last posts with your long book portfolio: I can't believe that 2 oil explorers, 2 japanese banks and gold are the winners in a (supposed) digital world.
Agreed... contemplating what changes to make
Any longer term structural investment ideas/names you are looking at on the back of this theme Russell?
Ugh... I wish I realised 10 years ago. I did buy a small amount of bitcoin after the election.
This has been Marc Andreessen's argument since 2011: https://a16z.com/why-software-is-eating-the-world/
Software eating the world is indeed what I am alluding to - but in this case, I am talking about how software is changing the "real world" . I always thought Marc was talking about how many things software can do that we used to use hardware for (alarm clocks, digital phones). I am talking more about how the relationships between humans are changing