Erdy does it again…
Turning to the markets, by now you are well aware of our EM leanings as we have been beating a dead horse for well over 6 months on the theme. One of those EMs has been making some global news lately, so we figured we’d do a quick update. Let’s dig in… You’ve probably seen…
Tina died in 2025…
Speaking of tops, on January 12, we posted an eerie chart of CSCO against the last remaining generals left in the markets using SMH as the proxy (we urge you to re-read here). Let’s revisit: “In summary, we’re bears. Now raging Kodiak Bears… We were just starting out in this business when we realized that…
Colombia and Brazil are perking up…
Last week we left you on the topic of Brazil, so LatAm has been on our mind all week, especially with Trump laying out a heavy dose of FAFO during the week… Lets rehash…This week began with a bang in Latin America as Trump came out swinging on Colombia after they refused to accept a…
Fund Flows Flip
Things may be light over the next couple weeks as we are in South Florida taking meetings during the annual iConnections pilgrimage. In our typical fashion, we don’t pay the 20k entry price to roam the halls, but rather sit with a cold beer at a local bar and laugh as the sleeveless vests descend…
The Year of the Snake…
We are going to keep the commentary light this week as you have plenty of reading to do with the Happy Hour transcripts. However, last week we noted our increasing interest in the China theme when we wrote: “After stopping out on a lot of our China exposure in Q4, we’re back at it. We…
Let’s chat Turkey…
Regular KEDM readers have likely picked up on our growing bullishness for some specific EMs. We all know the chart by now but the US is stretched as NVDA and MSTR prop up the whole market. And as DMs become EMs, emerging markets should see a flip in fund flows with EMs finally “emerging.” Since…
LatAm will roar…
Trump won!! Naturally, we wonder if we’re positioned right for what comes next. What does Round 2 look like?? Is it like Round 1 where he spends most of the day golfing, and occasionally tweeting about how great the market is?? (Remember those 150bps rippers every afternoon??) Or does he actually try and Make America…
September 22, 2024, Vol. 194
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China Is Looking Up…
This quarter’s 13Fs was non-eventful. As we’ve noted ad-nauseum, we went “full harvest” in recent months and cleaved off the chaff. Things get wacky at the tops and unless its related to gold, new CUSIPs just aren’t interesting. The only small nugget that caught our eye was the ongoing bull campaign by Tepper (Appaloosa) and…