Capital Flows and Asset Markets

This is a free preview of a paid episode. To hear more, visit www.russell-clark.comFor the first time in many years, currency is making a big difference to my portfolio. I have always had a heavy currency focus, and even in my current portfolio I have a big currency position - but I have never had any reason to to talk about it - until today.

Ronnie O’Sullivan may or may not be the greatest snooker player of all time - but he is probably the most naturally gifted. Snooker is a very slow game - and achieving a perfect score is vanishingly rare. Ronnie has the distinction of the fastest ever perfect score. If you wanted to carry on the Ronnie analogy, like Ronnie, I burst on to the scene, did great things, then suffered

This is a free preview of a paid episode. To hear more, visit www.russell-clark.comIt has been a tumultuous couple of weeks. I will make some general observations to start, and then some market observations behind the paywall at the end.* American First politics in practice, particular in regards to Ukraine, but with the application of tariffs as well, has probably ended the variou

This is a free preview of a paid episode. To hear more, visit www.russell-clark.com

I did a market update with Maggie Lake yesterday. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.russell-clark.com/subscribe

President Trump has said he wants two things - lower energy prices and lower interest rates. I suspect that he assumed causing the stock market to crash with his “Liberation Day” tariffs would help get both. Together with a surprise increase in OPEC production, he definitely got lower oil prices. WTI is down USD20 a barrel from January highs.With market down nearly 20% from all

Just a quick post. I have been bearish on Treasuries for a while. Why? I see investor mindset has completed changed on fixed income from 10 years ago. Back then, no one thought buying a 30 year Treasury at 4% was a sensible trade, but when yields moved to 1% during Covid, everyone became convinced of their ability to rally when thing are bad. But for me bonds reflect politics - and

This is a free preview of a paid episode. To hear more, visit www.russell-clark.comWondering whether it is time to change strategy might seem like a very odd thing to say. If I had to estimate year to date performance as of close Friday, it would be up as much as MSCI world is down, but with a net pretty close to neutral. Pretty good. So what is the problem?

This is a free preview of a paid episode. To hear more, visit www.russell-clark.comSome surprisingly big moves in the core theme of the portfolio. What do they mean?

We are living in times of profound change. What I am trying to do with Brumby Capital is capture the opportunity of those changes. I have set up a website - www.brumbycapital.com - that includes a beta version of AI Persona for the fund. You can speak to it, and it answers in an Australian accent. Please give it a go and give me feedback on where we can improve it. At some point I