Equity analysts with London hedge fund experience delivering institutional-grade research on mispriced opportunities across global markets. Global equity research. Deep fundamentals, clear investment cases, no BS.
| Platform |  | Pricing | Freemium | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 177 | Founded | 3 years ago | Last Issue | 5 days ago |
| Active | |||||
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tscsw.substack.comLatest Issues
Lehman Yields. No Lehman.
The US government will pay you inflation plus 2.65% for the next 10 years, the most since the 2008 financial crisis. I spent a week looking for this year's crisis. Nothing has died. I checked.
On 16 September the US government’s 10-year in...
Bessent Found a Buyer. Short Stocks, Long Inflation.
Five positions into the November midterms after the September 2026 Fed decision: S&P 500 puts, long 10-year breakevens, gold, the insurer credit pair, nothing new in oil.
It’s past midnight in Singapore and the statement is a few hours awa...
Everything Goes Up Until Stocks Go Down
“My job is to make sure that the market is looking at fundamentals and that the market does not dictate policy.” Scott Bessent, Asheville, 31 August.
“That isn’t a crisis. It is an invoice.” Stan Druckenmiller, the Journal, 24 August.
It’...
Beijing Can’t Price a Barrel
Everyone's waiting for Beijing to switch China's small refineries back on. There's no switch. There's a discount, and this month it turned into a premium.
Last week close to ten Chinese teapot refineries sent traders to APPEC in Singapore...
Copper Miners Don’t Care About Tariffs
Copper tariff stalled, LME curve flat, managed money at 26%. Ivanhoe, Marimaca, Hudbay, four toeholds and the December 2028 trade
On 26 August a paid subscriber asked me how the hell he was supposed to hold a long LME copper view into 2028...
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Authors
The writers behind this newsletter.
Independent research. Commodities, macro, credit, forensic deep dives. First-principles analysis for investors who'd rather be early than comfortable. 2-3x weekly. Read at 400+ firms. [email protected]
Commodity & Emerging Market focused with interest in sector investing strategies. History matters, cycles matter. ✝️ Catholic There’s an ETF for everything
Writing for TSCS
The Merchant's News is a newsletter by Giacomo Prandelli covering oil, gas, LNG, metals, and geopolitics, with practical insights on sectors, trade flows, and commodity-linked stocks.
Research and Writing for TSCS. Interested in commodities and geopolitics
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