Charlie Ormond explains how the physical economy took the reins after the “Great Financialisation” period ended during the GFC.
The World on Acid
A Hormuz shutdown may not just shock energy markets. It could quietly choke the global supply of sulphuric acid, and with it, copper, uranium and cobalt production.
The Thief Came Through the (Chat) Window
AI is creating millions of new targets and millions of new attackers. The sector cleaning it all up is currently on sale.
Hormuz Shock
Drone strikes and naval escalation threaten the world’s most important energy corridor. The second order effects could be a headache for our hopes of rate cuts in the near term.
Is Private Credit the Next Subprime?
Blue Owl Capital just shut the door on its investors. And if you’re not paying attention, you should be.
Tariff Déjà vu
Trade chaos is ensuing in the wake of the Supreme Court’s ruling on Trump’s tariffs. When uncertainty spikes, there’s a clear place to be.
The Productivity Paradox is Back
Is AI productivity already here or do we have to wait years before we see it? I take a look at the latest data.
Geopolitics Back in Focus
While the US and Iran face off in the Persian Gulf, and the broader Western alliance navigates the fractures opened by Trump’s second term, Australia sits in a rare sweet spot.
Tech Stocks: Oversold or Obsolete?
The market has thrown out anything remotely connected to traditional software-as-a-service (SaaS) businesses. But high-quality software names with multi-year contracts, regulatory moats, and deep customer integrations have been caught in the crossfire. For patient investors, that’s an opportunity.
Bitcoin’s Identity Crisis
The new Fed nominee has called Bitcoin a ‘sustainable store of value,’ and the ‘new gold’ for anyone under 40. So why isn’t Bitcoin surging? The answer reveals something important about what Bitcoin is in this moment, and whether it belongs in your portfolio.
