Bank holiday weekend. Nice weather. Train cancelled. Had to wait for next one. Now standing for 2 hours in the middle of a train carriage to Bournemouth. Why does the UK do engineering works at peak time?

New Substack on when AI agents take over from the humans in the stock market information ecosystem open.substack.com/pub/rupakgho...

There should be a feed for tracking Forbes 30 under 30 grifters…

One good thing about the election being over is not getting letters/ door knocks from politicians. Why not try reaching out in normal times? Tories “are you going to vote for us as Labour are awful” Me “agree but you were awful for 14 years” Tories”that’s the national party not the local party”…

The Interest on student loans in the U.K. is bonkers. Good piece in the Times. why not give our university students interest free loans but for those students that don’t pay back their loans the universities should pay the bad debt. It would mean universities would be careful about over expansion

You would think one of these firms would be called Viking…I assume the NYC hedge fund can claim they own the name?! open.substack.com/pub/rupakgho...

Jain Global’s returns for last year would more than double if they had been managing this money for Millennium without huge infrastructure buildout. At 8% that would still lag the industry but illustrates the cost problems hitting the world of hedge funds. open.substack.com/pub/rupakgho...

Why do people moan about articles in newspapers being behind a paywall? I mean subscribe or don’t or get the free article or get a mate to send it to you. I mean why should it be free…someone has to pay…if not advertisers then the readers of the paper. The newspaper is not paid for by taxpayers.

They have moved on from the Indian options trade! rupakghose.substack.com/p/is-jane-st...

Tom Tugendhat broken record. What about trust in US administration in the Middle East? www.wsj.com/opinion/the-...

Canals, Rembrandt, cakes, bicycles, ladies, football but also traders… open.substack.com/pub/rupakgho...

Blackrock’s $30bn private markets’ acquisition binge looks increasingly questionable. Very high multiples paid that depend on them delivering a boom of private credit ETFs and other synergies. Link to latest Substack piece 👇 open.substack.com/pub/rupakgho...

New Substack piece. The White House is focused on WTI but the whole energy market has been financialized in recent years and many spread trades are blowing up… rupakghose.substack.com/p/barrels-to...

US returning the plane to Qatar

Bill Ackman tweeting for Fed to cut interest rates by 100bps as Pershing Square portfolio sinks, after a multi year bull market when long only managers calling themselves hedge funds got to charge performance fees for tracking the S&P500…

Middle East strategy…

I wonder who increased stamp duty over and over again when in power for a decade…

Is Bloomberg dead or the king? The moat is deepest with HFs, FICC and bank sales and trading Will AI replace Bloomberg screens or Bloomberg users i.e. buy side analyst headcount? Is a bear market Bloomberg’s biggest threat? rupakghose.substack.com/p/bloomberg-...

New Substack piece on hedge fund leverage, liquidity, capital bases and crowded trades as we commemorate the 3 year anniversary of SVB’s implosion. It's been a tough month for hedge funds so far. open.substack.com/pub/rupakgho...

Watching pro and anti Dubai social media influencers crowd out actual news to give their 10 cents inch wide, inch deep takes re-enforcing their existing bias…

Are there just a bunch of Western influencers being paid to walk around Dubai say how amazing it is and post the same corny lines on X? It’s like they are reading the same lines

Reform grass roots activists on the ground in the community…

X is going mental with Trump is making Persia great again. Stupid question but the Iranian leader was 90. He may died of natural causes soon anyway. I get they hit others as well but why is no one in media highlighting the dude was very old and could have died of that soon anyway?

Commodities has been a major area of investment for hedge funds and prop trading firms as has the UAE… open.substack.com/pub/rupakgho...

Trump meeting Altman to replace Anthropic with OpenAI

OpenAI and Anthropic complaining about the Chinese copying the things they copied from humans…

Hasta la vista, baby. Arnie the Terminator is Anthropic. Citrini is John Connor

Congrats Rupak on the launch, and on getting a nod from the @financialtimes.com for your work!

Just launched a premium version of my Substack on hedge funds, trading firms, financial market structure and fintech. Will also be more active on here as I exit “the other place” for good. open.substack.com/pub/rupakgho...

X degens “My meme stock losses are all Citadel Securities fault” Move on now… “My long Bitcoin/short gold losses are all Jane Street’s fault…they are to aggressive and manipulate market”

Enjoyed this thoughtful piece by Rupak on how "entrepreneur blogger" research is disrupting the sell side - a process that kicked off with MiFID II/unbundling and accelerated with the rise of easy online self-publishing

“the “enshittification” of investment analysis”…it’s a vibes world! rupakghose.substack.com/p/is-the-cit...

Jain Global is likely the last pod shop launch. Too expensive without huge scale out of the gate. When GIC leaves, you need to lock down ADIA. open.substack.com/pub/rupakgho...

Wrote in Sunday Tiimes on what the U.K. can learn from Singapore, South Korea and Japan’s stock market boom. East Asian countries have used tax incentives and corporate governance changes to help stimulate their markets. www.thetimes.com/business/com...

Have been mulling this piece for ages as my earlier posts show but you look at Fundsmith buying Wolters Kluwer and Sage, riding Novo Nordisk all the way down (was a top 10 holding at end of Jan) I wonder if these guys really understand moats or "quality". rupakghose.substack.com/p/the-rise-a...

Is that you @katie0martin.ft.com in the House of Lords now?

Why is US right wing re-inventing Bessant’s career like he was a hedge fund legend. His only hedge fund launch was a complete flop and he was Druckenmiller’s sidekick for a few years. Druckenmiller is a legend! Soros. Jim Simons as well.

Is TCI from Mars and Citadel from Venus? Two very different business models, that have little in common. How can both be considered hedge funds? What trading and investing alpha have hedge funds chased in recent years… open.substack.com/pub/rupakgho...

TACO or not feels like Europe’s chance to grow a spine. This sort of stuff would never happen to China. Even a small economy like India does what it wants

Is it just me who preferred Bezos as a nerd. He was an interesting nerd. He is less interesting jock

Is one year of underperforming a blip. Likely. Is three years of underperforming a blip. Perhaps. Is five years of underperforming a blip. No. 🧵

For all the complaining I see about Continental Europe from right wing X influencers in U.K. I thought this chart was interesting illustrating higher real PPP GDP per capita in many Northern European cities than London. Also fascinating how other UK cities lag a lot…

America is rich and the UK is poor… True but this statistic shocked me… The average wealth per American adult is $620k but the median is only $124k! The average wealth per UK adult is $339k and the median is $176k. 🧵

Make London great again this year UK fintechs. www.thetimes.com/business/com...

What investment are they talking about…I thought it was peppercorn on all new developments anyway? And govt changes laws all the time…why should they protect unproductive rent seeking by Cayman Islands based shell companies!