PATHWAYS

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Trading News

Unique global macro insights how the news of the day translates into price action.

14 April 2022

Yesterday the CPI inflation number came out in the US

12 April 2022

It has been a while, I am working on some

1 April 2022

Today’s letter promises to be as manic as I am,

31 March 2022

A portion of the US 10yr yield curve against the

30 March 2022

I get like this sometimes; I am just so frustrated

22 March 2022

I saw the above chart which validated exactly what I

18 March 2022

The laws of the free market have been sacrificed at

16 March 2022

FRA-OIS is an indicator of interbank funding stress (and money

15 March 2022

On the 10th of March I wrote in passing about

10 March 2022

I have been trading futures a long time so when

8 March 2022

Wheat is up more than 100% since Feb, oil is

1 March 2022

A shout out to my brothers and sisters in Ukraine

21 Feb 2022

I am currently travelling this week for family and business

18 Feb 2022

The Joe Rogan Podcast is a phenomenon that needs to

15 Feb 2022

I am feeling particularly flat today. We have an office

8 Feb 2022

Just a few unstructured thoughts. Macron went to meet Putin

4 Feb 2022

Now that is a picture of a toss. I don’t

3 Feb 2022

Dr Philip Lowe believes in Goldilocks’ fairy tales, and I

2 Feb 2022

When last did you read about an office landlord in

1 Feb 2022

I think the number one story on the geo-political front

28 Jan 2022

After feeling down in the dumps for the last couple

27 Jan 2022

I have this overwhelming desire to say nothing today.

26 Jan 2022

Today is Australia Day or as some call it Invasion

25 Jan 2022

I am back after a couple of days break from

20 Jan 2022

MarketWatch We see continued selling in the broad indices with

19 Jan 2022

MarketWatch Finally they couldn’t ramp it at the close, Nasdaq

18 Jan 2022

MarketWatch I want to draw your attention in the table

14 Jan 2022

Talk about the black sheep in the family, everyone has

13 Jan 2022

How is that for a headline. I am sick of

11 Jan 2022

MarketWatch Here I get to showoff our Price Journey tool,

10 Jan 2022

Preamble I got some useful feedback on the weekend about

7 Jan 2022

Who said new ATH’s (all time highs) were relegated to

6 Jan 2022

Yeah baby there is currently more fireworks in the markets

5 Jan 2022

In 2018 I read this book and was totally captivated

4 Jan 2022

Your captain is back for more adventures. I feel 2022

29 Dec 2021

This is a chart of New South Wales the largest

28 Dec 2021

Jeff Bezos launches a skimpy new venture. The billion dollar

24 Dec 2021

Lets start off today with a record of another kind.

23 Dec 2021

As you can see clearly in the chart above. We

22 Dec 2021

A not so fairytale prince and princess marriage. That is

21 Dec 2021

Yesterday Magellan the once top rated fund manager founded and

20 Dec 2021

We are eagerly awaiting the open of the US futures

17 Dec 2021

It has certainly been the year of the SPAC, but

16 Dec 2021

“It ain’t easy” when it comes to making risk adjusted

15 Dec 2021

Here are 2 very different seasonals. At 3pm NY time

14 Dec 2021

For some strange reason I am ok with this years

13 Dec 2021

Despite accounting for just 2.3% of the overall index, Tesla

9 Dec 2021

I could spend the entire letter on this chart, the

8 Dec 2021

The chances are you missed the 20% drop in the

7 Dec 2021

For the 3rd month this year Australian VC’s raised more

6 Dec 2021

The world is seriously in bad shape when the President

2 Dec 2021

So exciting volatility is back and it is not just

1 Dec 2021

I am spitting mad, in yesterdays letter I mentioned I

30 Nov 2021

This should blow your mind, the last year = more

29 Nov 2021

I just took a look at Oil I am not

26 Nov 2021

As someone born and bread in South Africa any news

25 Nov 2021

As the capital markets are largely the playground of the

24 Nov 2021

I cannot just let Bitcoin City go quite yet. Yesterday

23 Nov 2021

I am afraid I am a little worked up at

19 Nov 2021

Its always a comfort realising that I am not the

18 Nov 2021

Stocks only go up magician Dave Portnoy with DDTGG isn’t

16 Nov 2021

Two staples go their own way. Over the last year

15 Nov 2021

A $27 billion valuation in less than 2 weeks. Sounds

12 Nov 2021

Gold has finally woken up. I guess the highest inflation

11 Nov 2021

The markets are starting to get pretty jumpy this morning.

10 Nov 2021

Let us not shed any tears for Tesla’s 11% drop

9 Nov 2021

Probably my all time favourite valuation measure is the Shiller

5 Nov 2021

I am reading about all the inflation in the system.

4 Nov 2021

It seems like Biden is coming up Trumps. I cannot

3 Nov 2021

Decentralised finance deposits (lending and exchanges) usage has grown 30,000%

2 Nov 2021

Let me tell you a trillion dollar secret. I am

1 Nov 2021

When last did someone bring up the Austrian 100yr Bond?

29 Oct 2021

The Australian Financial Review just released Australia’s 100 richest Millennials

28 Oct 2021

To begin with we are seeing wild speculation at crazy

27 Oct 2021

Ok so look what we have here. Tesla is valued

25 Oct 2021

Let us start by looking at the strength of the

22 Oct 2021

I am sure most of you missed it. While Bitcoin

21 Oct 2021

For those into conspiracy theories you may be excused for

20 Oct 2021

Macro Market Movements The news of the day remains inflation

19 Oct 2021

Macro Market Movements The big move on the Korean KOSPI

Power Laws

Stay with me this is complicated but there is a

Alone but not Alone

I am sitting in my hotel room in isolation; not

Diversity is Essential

Some of you will have heard of one of the

The Illusion of Validity

I came across an incredible piece of research in a

Good Growth and Bad Growth

If you want to lose weight, you can starve which

Web 3.0 more like Web 0.1

This week is not going to make me popular with

John Law the first real Central Banker

I harp on quite a lot about the excess debt

There is No Playbook

A couple of weeks ago I met a friend for

It Will be To the Good

Whenever my gran heard bad news she used to say,

Wherever there is judgement, there is noise

I am reading a fascinating book by Nobel Prize winner

Good and Bad | Profit and Loss

Profit and Loss are two sides of the same trading coin. You cannot make profits without risking losses

A Seeker’s Guide to Future Interest Rates

The Seeker is the Quidditch player whose objective is to

Inflation Challenge No 2

I want to share a basic story why inflation can

Inflation Challenges

The broad US stock indexes made new all time highs

Inflation Inflation Everywhere

In 1963 monetary economist Milton Friedman said, “Inflation is always

Ditto is Open for Business

We want to kick the year off with an update

Sneak Peak of Ditto App

We wanted to post a quick update and share with

The Pathways Story

First some background about me. I grew up in Port

The Ditto Story

The start to the ditto story began many decades ago,

Pathways

A global macro newsletter with unique psychological insights.

Michael has been a professional money manager for more than 20yrs and has incubated more than 100 emerging professional traders.

Michael is a prolific reader and writer and brings a unique perspective to analyzing markets, in a fun provocative manner.

With a Ph.D. in Behavioural Economics, a love for technical analysis, a bent for things quantitative and an affliction for philosophy this will not be like your typical newsletter.

Join Michael on a journey to discovering the pathways to financial freedom.