Here is what we told Hedge Funds this week – and how we’re trading it!
Happy Friday!
Every week, we dive deep into macro trends, analyze asset movements, and uncover the best value plays in the world of macro. These insights are shared with hedge funds and institutional clients, and each Friday, we bring them directly to you.
While the macro landscape can be complex, we believe it doesn’t have to be intimidating. In this recurring series, we break down the key takeaways from the week, explain what we’ve told hedge funds, and outline how we’re trading these ideas — all in a straightforward and actionable way.
As always, let’s have a look at the current portfolio setup before we jump into the macro stories
Our Asian and European equity bets are doing exceptionally well as the rally in Europe continues while there is renewed interest in Asian equities given the China tech frenzy. The outperformance of rest of world vs. U.S. equities is a completely new landscape in the post-pandemic era, leaving a lot of opportunities to play the diverging macro pictures (more on that in the case of the week).
Our gains on MindMedicine have been erased over the past week after there have been a couple of critics out after the RFK project, but we are still somewhat confident in the position, and we are only slightly down over the past week.
Chart 1: Slightly Lower Over the Past Week
Each week, we summarize the key insights we’ve shared with hedge funds, highlight what to watch for, and explain how we’re navigating the macro landscape – all in a simple, concise format. If you want to thrive in markets, this is a must-read!
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