Friday Thoughts
On the Road / Macro Framework / New PA-GlobalMacro tools
I have put together some thoughts over the past few days on my new inkpad, which I very much like. I used to write a lot of notes, but they were in different books, and I would lose them over time. I love the act of writing, the pencil-to-paper feel, as that is how I learned in my student years. There is a creative process when writing. Typing these words on my computer isn’t the same. There is a neuroconection that manifests deeper thoughts in the manual world.
With the inkpad in hand, I put down thoughts and smaller comments or take out a few sentences of a research report. It’s a process that then manifests into a vision or a trade. It works for me.
As I am packing my bags for a few weeks away (don’t worry, the laptop is coming with me), I just wanted to share my overall macro thinking with my subscribers. This is the driving force behind my investment decisions. There are many moving parts, but I am trying to keep it simple, aside from what political noise is on the daily menu.
I will aim to keep to the usual schedule while away, although I will be operating out of a different time zone. The daily pa-globalmacro publishing service will continue as usual. It’s the place where all my models/dashboards and chart books live. In addition, a daily email is sent to subscribers, notifying them of any significant changes in the 200+ securities tracked.
I have added two new additions to the offering this week, which all existing and future subscribers can now benefit from. A reminder that you can access it on the pa-globalmacro.com site using your email. If you subscribe to this space, you will be granted access to the other site as well. No trials are given.
One new feature is the US sector map, which shows leading/lagging sectors relative to the index. This is updated daily and tracks sector-relative strength over time.
The other one, available from mid-week, is the PA - Global Macro Buy-and-Hold Portfolio summary, which is now updated daily as well. Since 2022, I have been tracking a portfolio and initiating changes at year-end for the next 52 weeks. I often reference the current portfolio, but here you have the full history. For rebalancing once a year, we haven’t done too badly.
Let’s now dive into my macro framework, which covers rates, equities and overall macro drivers. We then check Macro D’s latest thoughts on Macro and his Macro FX book.
Have a wonderful weekend, enjoy.
