Korea's AI Infrastructure Play
Samsung and SK Hynix are the picks-and-shovels of the next compute wave.
Jan 2025
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What We’re Watching.
Macro moves, position updates, and published research. The full picture, in one place.
Macro
Regime shifts, central bank moves, global flows
- May 2026
Fed Holds — Inflation Still Above Target
Fifth consecutive hold. Real rates compressing.
- May 2026
China PMI Breaks 52 — Recovery Confirmed
Manufacturing expansion broadens to services.
- Apr 2026
ECB Cuts to 2.25% — Euro Weakens
Dovish pivot as core inflation falls below 2%.
- Apr 2026
Gold Breaks $2,800 — Central Bank Buying
BRICS reserve diversification accelerates.
- Mar 2026
BoJ Raises to 0.75% — Yen Rallies
First hike in 6 months. Carry trade unwind risk.
Micro
Position updates, entries, exits, thesis changes
- May 2026
Opened: Brazil IBOVESPA via EWZ
Regime shift confirmed. Lula reforms priced out.
- May 2026
Added: Energy XLE — Conviction Raised
Supply discipline + demand recovery = structural bull.
- Apr 2026
Closed: KOSPI at +18%
AI infrastructure thesis played out. Taking profit.
- Apr 2026
Trimmed: Lithium LIT — Thesis Under Review
Demand recovery slower than expected. Reducing size.
- Mar 2026
Opened: Chile IGPA via ECH
Copper supercycle + political normalization.
ResearchASIA GOLD ENERGY DEDOLLARIZATION LATAM EUROPE
Published Studies
Central Bank Buying — The Structural Bid
Why gold is no longer just an inflation hedge.
Jan 2023
Nuclear Renaissance: Phase Two
Uranium supply deficit meets net-zero commitments.
Aug 2023
BRICS Reserve Diversification
The slow death of dollar hegemony and what replaces it.
2024
Argentina's Milei Reset
Pricing in regime change, not decay.
Sep 2023
European Defense After Ukraine
NATO spending mandates repriced the entire sector overnight.
Feb 2022