Whisker Twitch Time Again
The 🐿️'s 'Start the Week' note! A quick check in on macro risks. Plus our regular review of the BUSHY™ Multi Asset ETF Portfolio and live Acorn trade ideas. 2026, Week 6.
In case you missed it, in the weekend note which hit inboxes on Sunday morning, the 🐿️ assuaged a nagging concern that the portfolio’s African exposure was simply gold mining beta in disguise:
A decent week for the 🐿️’s BUSHY™ beta portfolio. The fact that the hedge book is now creating a small drag on returns gives me some comfort that those positions may help in the event that the market moves against the portfolio’s core biases.
Plenty in the BUSHY™ and Acorn reviews this week - more additions to the hedge book; replacing uranium; reaction to the VAL/RIG offshore merger; what to do about Tencent; and managing the Korea ‘parabola risk’.
First, I wanted to do a quick review of headline macro risks. Those rodent whiskers are twitching again…
