Homework #2

[21/05/26]

Anyone with a free 15 minutes during the coming Spring Bank Holiday/Memorial Day might be interested to read the latest research paper published by Graham Capital. It’s titled Imbalances, Consolidation, and Choke Points and was published yesterday and shared on their public portal. It’s one of the best 50,000 feet macro summaries of the last 50 years that I have read - written in an almost logarithmic way, with plenty of focus on the Iran/Hormuz situation from March until today, including tables explaining quick linkages between event>market reaction>cross-asset positioning. A text-heavy and interest-rates centric piece, but one that leaves you feeling like you’re peeking behind the curtain as the show plays in real-time. Plenty of gems regarding portfolio construction, risk monitoring and trading strategy, that are relevant for any investor; any market. I truly loved it - just finished!

Needless to say - I have no affiliation with Graham Capital Management, but I always have this Insights tab on their website saved in my Favourites and follow the CIO Jens Foehrenbach on LinkedIn so that any publications are pushed.

Enjoy!

Research papers - Graham Capital Management
Graham_Imbalances-Consolidation-and-Choke-Points_May-26.pdf