The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Summary: In our latest Macro Dragon Reflections we check back-in on "The Lone Bull" of the China Tech scene, in the name of Weibo which is still +24% YTD vs the likes of Alibaba, Tencent, Baidu, JD.COM that are down anything from -20% to -23% YTD. Weibo earnings will be out pre-market on Weds & we take a MtM on the short-play skew that was initially flagged on the 12 Jul China Tech Divergence piece.
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Start<>End = Gratitude + Integrity + Vision + Tenacity | Process > Outcome | Sizing > Position.
This is The Way
Namaste,
KVP