The hottest Markets Substack posts right now

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Manchester United Finances Q1 2023/24

The Swiss Ramble • 373 implied HN points • 22 Jan 24
💰 Finance Sports Business Investments Economics Markets
  1. Manchester United announced financial results for Q1 2023/24, showing a pre-tax loss but increased revenue and profit on player sales.
  2. Revenue streams for Manchester United increased, particularly in match day, broadcasting, and commercial aspects.
  3. United's profit from player sales rose from £17m to £29m, attributed to the departure of certain players.

Asian Financial Crisis Redux

The Dollar Endgame • 199 implied HN points • 21 Feb 24
💰 Finance Markets Economy Policy Banking
  1. The Chinese yuan is weakening, reaching its lowest level against the dollar in a while. China taking measures like reducing the five-year loan prime rate to stimulate credit demand and revive the property market.
  2. Economists were surprised by the significant decrease in the reference rate by China, indicating the most substantial cut since its introduction in 2019. China is facing challenges from a property crisis, falling consumer confidence, and increasing deflationary pressures.
  3. China's central bank has been injecting liquidity into the financial system consistently through measures like reducing the reserve-requirement ratio for lenders and implementing regulations to support the yuan. The recent net injection of 1 billion yuan aims to maintain balanced liquidity post the Lunar New Year holiday.

Banks banks banks (redux)

Yet Another Value Blog • 1022 implied HN points • 23 Oct 23
💰 Finance Banking Investing Economics Markets Earnings
  1. If you're looking at banks below tangible book value, you don't need to worry much about hidden disasters on their balance sheets.
  2. Even though there are concerns like a potential commercial real estate crisis or a recession, banks seem well-prepared and overcapitalized.
  3. Rising interest rates could actually make banks more profitable due to their interest rate sensitivity.

Quadrilemma

Ironsides Macroeconomics 'It's Never Different This Time' • 373 implied HN points • 06 Jan 24
💰 Finance Economics Markets Investments Federal Reserve Policy
  1. The market outlook suggests it's time to increase exposure to cyclical sectors.
  2. Understanding the market implied policy path, earnings expectations, and the Fed's reaction function is crucial for making strategic investment decisions.
  3. A healthy broadening out in the market may require certain economic conditions to be met, like unemployment rates and average hourly earnings.

Markets as Error Correction Processes

Knowledge Problem • 196 implied HN points • 01 Feb 24
💼 Business Economics Markets Institutions Behavioral Economics Entrepreneurship
  1. Markets are error correction processes that help us adapt to changing conditions and create value.
  2. Individual adjustments in response to price signals lead to error correction in markets.
  3. Through adaptation, decentralized coordination, knowledge ecosystems, and error correction, markets enable us to achieve more and flourish compared to other social institutional frameworks.