My Asymmetric Macro Bet: The next big trade

How capital flows are compressing the cycle for the next big move

Oct 23, 2025

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My Asymmetric Macro Bet: The next big trade

I laid out my macro views for the credit cycle in this video, which is already in the process of coming to fruition. We are seeing flows move in lockstep with the thesis. What I want to cover now are the big asymmetrical bets for the macro regime that I am personally taking as we move into the end of the year.

The Big Trades:

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