Gold, TIPS, and Linkers
Since 2022, the price of gold has soared, and thankfully, we have held it. Prior to that, gold had sat comfortably in a regime whereby the price mirrored real interest rates.
TMAI
A diversified portfolio service that blends traditional bonds and equities with alternative assets such as gold, commodities, and digital assets
Latest
Flash Note
Risk Reduction
Friday’s Shakeup and Taking Profits
A lot has happened this week with President Trump threatening to hike tariffs on China. It has led me to reduce risks in the portfolio, to take the edge off, and lock in some profits.
The Real Willy Wonka
After a period of rapidly rising costs, the situation appears to have stabilised, and the chocolate industry is adapting to a new normal. I sense an opportunity.
ByteTree Quarterly Investor Letter - Q3 2025
In this Q3 2025 update, I shall review the model portfolios, named Whisky and Soda, which I have been managing since February 2016. I shall also touch on our other services.
What’s Gold Really Telling Us?
One of the mysteries of this equity bull market is its drivers. The consumer is weak, wages are softening, house prices have peaked, industrial demand remains slack, and global logistics have slowed.