Sunday 1/16/2022 PM Service
Some broad normalisation trends were big winners for our Global Macro fund in the past. That includes long rates in a number of EM where we found excess premium or the short in the US Dollar at the time of the twin deficits, mainly versus Asia. We were also pretty successful in some idiosyncratic, opportunistic trades, often shifting from long to short and vice versa, or from one asset to another, in the specific country.
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Kind of like hanging garlic on the door to keep out vampires. It nearly worked, but then, miracle of miracles a picture appeared right behind the cash register. Troy Tate, local artist and man about town, painted it. Ha, no. Each loader is loading at least 1,000 packages a day in a four hour shift. Four hours in a dark semi trailer that’s either too hot or too cold.