Investment Musings
The audio edition of Investment Musings, by Nuno Amado Mendes, CFA. Cross-asset macro and markets in a plain, FT-neutral voice with a deliberately adversarial edge – every thesis carries the level at which it would be wrong. Less news, more thinking.
Investment Musings
Below Cost
•
Nuno Mendes, CFA
•
Season 1
•
Episode 2
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
Kevin Warsh, the new Fed chair, wants to kill inflation – and the convenient version of that story is that AI will do it for him. This week's leaked OpenAI accounts show who is actually paying: the disinflation everyone is celebrating is being sold below cost, funded by losses. And the largest loss-maker of the cycle has just chosen this moment to go public. Supply, not sentiment, tells you where you stand. Retail investors are buying calm. Someone is selling it.
A personal editorial view, read aloud – not investment advice.