Bitcoin About To Make Record Highs
The price of Bitcoin has rallied to above $900 as it closes in on the record highs it made in 2013. For those who compared Bitcoin to the tulip bubble, this is tough to understand because it should be at zero by now if it was a fad. Fads don’t recover their losses and they…
Look East On The 4th, That’s Where The Real Fireworks Are
As we head into the holiday weekend, why not think about China? Actually, wait. Don’t answer that. It’s the 4th of July. Independence Day. So for US traders, that’s probably one reason not think too hard about China. Let’s try that again: as we head into the holiday weekend, it’s important to remember that as…
A Look At Active Manager Positioning And A Chinese Intervention
On Tuesday, we took a look at what works as a hedge during equity drawdowns. Last week, we took stock (no pun intended) of which companies and sectors were most exposed to Brexit and also to a rising dollar. No sooner had we finished analyzing where to turn in turbulent times than risk went crazy.…
Here’s The Most Important Question For Risk: Whither The Yuan, My Friends?
Sometimes it seems like no one gets it when it comes to the Chinese yuan, which is really too bad because in many ways, what happens to the renminbi determines the direction for risk assets. Last August, the market was abuzz with news that Beijing had decided to let the market play a more active…