Attack the Week (ATW)
Of Monkeys & Resilience / Macro FX Trades / Weekly Calendar / Allocation Model Update
Sunday Thoughts
As usual, when travelling, I find myself scrolling through social media more than I normally would, partly out of boredom as I can’t wait to arrive at my destination. This time, my feed was flooded with stories about Punch, the little macaque monkey who was abandoned by his mother in a zoo in Japan and has been struggling to make friends. I was unexpectedly captivated by his heartwarming videos. I first thought it was all AI, but apparently, for once, it is real.
He is too small to understand what happened and too young to process the loss. The zookeepers gave him a soft orangutan toy for comfort — something to hold onto when there was nothing else to cling to.
And the world melted, just as I did.
Unbeknownst to him, Punch has become a sensation. Millions of people are now rooting for him. Strangers are emotionally invested in his recovery. People he will never meet hope that he grows stronger and finds his place. Slowly, it seems, he is beginning to find his footing.
Punch does not know that he is supported.
He simply holds on.
And there is something profoundly familiar in that.
No one becomes who they are in a vacuum.
It is easy to romanticise self-belief and imagine the lone hero who “made it” through sheer force of will. But that is rarely the truth. Before most people believe in themselves, someone else believes in them first.
For me, it was my mother, my best friend and then my wonderful wife.
Nobody builds alone.
At some point in life, we are all Punch — holding onto something small and steady while others quietly root for us.
The Quiet Architecture of Resilience
Mental resilience isn’t just about toughness. It’s about connection.
It’s asking for help when your pride tells you not to.
It’s leaning on mentors before you feel “ready.”
It’s allowing others to see your uncertainty.
It’s accepting belief from others before you’ve manufactured your own.
In investing — as in life — this matters.
No great investor learned in isolation.
No trader mastered risk without mentors, scars, and community.
No resilient person avoided loss — they simply didn’t face it alone.
Resilience is not the absence of weakness.
It is the presence of support.
A Thought Ahead
I want to dedicate more posts to these important aspects. Because in a world that feels increasingly multiplayer and volatile, strength will not come from bravado. It will come from networks. From mentors. From humility and hopefully from places like the one I am creating here.
What’s inside this week’s note
Behind the paywall: Macro D discusses the important aspect of last week and what changes he is considering for his Macro FX book, which once again had a great week. Remember to check out his latest Macro FX trade corner publication for more details.
After that, we do what we always do:
The weekly calendar (where the market might be vulnerable vs. where it might be numb).
As for the charts, please refer to last week’s Friday Chart Book.
We close with the output of the weekly asset allocation model, which last week increased its bond allocation for the first time in a while. Will it keep its allocation to Treasuries this week as well?
Enjoy!
