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Wasif

30 year investment professional. Fund manager and macro junkie

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Substack
PricingOnly free issuesPublishesWeekly
Issues25Founded2 years agoLast Issue10 days ago
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Latest Issues

Rock and a Hard Place

The Fed started a rate hiking cycle in September against inflation that’s driven mostly by oil and diesel, in an economy whose strongest parts are not as impacted by higher borrowing costs. In our view, that leaves the Fed to choose between...

10 days ago
6

Return to Tangibles – Act I Update

"All we have to decide is what to do with the time that is given us."
– Gandalf, The Fellowship of the Ring, J.R.R. Tolkien

In May 2024 I published our inaugural paper on the Return to Tangibles: our view that the next major secular mark...

22 days ago
30
4

The Diesel Effect

Crude oil, on its own, is useless. You cannot put it in a tractor, a truck, a plane, or a ship. Its value is created at the refinery, where gasoline, jet fuel, and distillates are made. Refineries also make diesel, one of the most important...

2 months ago
4
1

These Aren't the Rate Hikes You're Looking For

“These aren’t the droids you’re looking for.” ~ Obi-Wan Kenobi, Star Wars (1977)

Bottom Line Upfront: The Fed talked like a hawk coming into this meeting and then sat on its hands, holding rates unchanged at 3.50% to 3.75% for a fifth cons...

3 months ago
9

1950s "Run it Hot" CPI risks 1970s Stagflation

While the 4.2% headline inflation number was in line with expectations, this amount of rise is still significant. The increase was concentrated in energy, which climbed 23.5% year-over-year, with gasoline alone added roughly 1.6 percentage...

4 months ago
4

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  • Wasif

    30 year investment professional. Fund manager and macro junkie

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