Articles
This section brings together our long-form views: market narrative, cycle analysis, sentiments shifts, and the broader forces that shape risk. Each article is written to clarify how we see the landscape- not to predict, and not as a recommendation to buy or sell any security.
This Looks Like the Last Chapter of the Cycle
The mood is buoyant, the math is unforgiving, and late-cycle markets can climb until they can’t.
Mood and Market
The market does not just discount cash flows; it reflects mood. You can see it right now in earnings calls that lean into ‘AI tailwinds’, in strategy decks that assume capacity will find demand, and in feeds that treat every pullback as a buying opportunity. The data over the last six months has not been uniformly strong, yet price keeps hovering near highs. That is what social mood usually looks like late in a cycle: it downplays negative surprises and highlights whatever fits the bullish story.