Blind Squirrel Macro

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Time for a return to the Dark Side?

www.blindsquirrelmacro.com

Time for a return to the Dark Side?

The Blind Squirrel's Monday Morning Notes, June 19th, 2023.

Jun 19, 2023
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Time for a return to the Dark Side?

www.blindsquirrelmacro.com
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Your favorite 🐿️ returns to the Dark Side?

Summary

  • It’s time for a (small) return to the ‘Dark Side’ as large cap tech has moved too far, too fast and downside protection is now available at ‘fire sale’ prices.

  • Also on the ‘Dark Side’, we added a short position in Coinbase. We think that recent regulatory action creates existential issues for the company.

  • Things are really taking off for our grains trades, but we remain cognizant that recent gains could be wiped out at the stroke of a weather forecaster’s pen.

  • Further Acorn updates on the Aussie Dollar, Mercedes (option roll), uranium and Goldman Sachs / private equity.

  • New equity long positions in Japan (yes, late to the party, I know!) and West Africa’s sleeping giant.

Time for a return to the Dark Side?

We had a laugh out loud moment listening to last week’s Market Huddle podcast. So much so that I had to clip it up (links via the image below). Kevin, as a former market maker, has never seen an option that he does not want to sell.

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