I was intending to wax poetic about how prophetic I was, starting off the session with a +17% winner in DAN, accompanied by run away strength in NBIS and WULF; but much of it dissipated as the day waned and high beta saw sharp reversals in the magnitude of 3% off the highs. Although recalcitrant...Read More

It looked like it was going down and then it went up, ’tis the case in various scenarios these days. We gained another 0.47% today, slightly below the SPY at +0.53% but more than double the QQQ at +0.22%.We did some rebalancing today, buying back ALAB in the $117s on the absurd dip. The stock...Read More

Before I get into what I did today, some data.The NASDAQ is +4% for January, SPY +3.5%, Russell +3.3% and the SMH is +10.4%. Those are returns befitting of a full month, with a week or so to go in January. The SMH did rise +16% in January of 2023, but for the most part...Read More

Lots of moving parts, plenty of early volatility as quant v quant attempted to make sense of the news headlines. Ultimately, markets were bid sharply higher with the SPY up 0.88% for the session. We managed a gain of +130bps, greatly outpacing the SPY due to Space Alien Magician (SAM) positioning. Year to date gains...Read More

Many years ago people were brimming with fear that BIDU would overtake Google and come to dominate search. Since then, shares of China related stocks have been bludgeoned, compressing valuations to a point of curiosity. Clearly, markets are pricing in geopolitical risk, potential and inexplicable war with China and subsequent ban of Chinese securities in...Read More