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Lower Rates Lead to Real Estate

Lower Rates Lead to Real Estate

Trade in Soda; I recently added the long bond to the Soda Portfolio as evidence that inflation was calming enough to stabilise the bond market. Inflation may have been cooling for two years, but the bond market was still in the turbulence of the hikes of 2022. It seems 5%

Trump In, Gensler Out: Altcoins Up

Trump In, Gensler Out: Altcoins Up

ByteFolio Issue 136; 💡This issue covers Fantom (FTM), Ripple (XRP), Stellar (XLM), Hedera Hashgraph (HBAR), Render Network (RNDR) and Cardano (ADA). After reaching a high of nearly $100K on 22 November, Bitcoin experienced a sharp but brief sell-off, retreating to the $90K level by 26 November, as anticipated. Similarly, BTC&

Value Investing – The Pepsi Challenge

Value Investing – The Pepsi Challenge

My Journey in Finance; The price-to-sales ratio (PSR) for Coca-Cola (KO) demonstrates how a stable company with similar products over the years saw the valuation range between 0.7x sales (cheap) in 1980 and 11x sales (rich) in 1998 (note the intra-year 11x peak is not shown on the annual

Venture: European Software

Venture: European Software

Issue 52; The 2020/21 bull market in technology was followed by a spectacular bust the following year. Many stocks were propelled to unsustainable levels and have come back down to earth. The good ones have started to recover, such as Zoom (ZM), while the unlucky ones will fall by

Samson and Delilah

Samson and Delilah

Trump’s victory has fuelled a market rally, with US small-caps, banks, and crypto leading the surge, even as concerns over tariffs, deficits, and inflation persist. Global Fund Managers have significantly increased US equity exposure, though the heavy reliance on the top 10 S&P 500 stocks evokes memories

The Geddes Axe

The Geddes Axe

Trades in Whisky and Soda; The US has a $36 trillion debt and an outsized annual budget deficit, which appears to be structural. I say that because a surplus hasn’t been registered since the stockmarket boom of 2000 when capital gains tax revenues surged. Twenty-five years later, the stockmarket

Venture: Space Technology

Venture: Space Technology

The Final Frontier Just a few years ago, I was asked to review a space fund, and I wrote it off as ridiculous. Virgin Galactic (SPCE) was 10% of the portfolio, valued in the billions, with no sales. The shares dropped 99% but I believe Branson sold at a good