HeyJaredLord Fed's Gazette
Market analysis, idea generation and education from a London-based portfolio manager. Subscribe for outlook across asset classes, along with exclusive access to a private Discord where live market insights and trades unfold.
- Indexed issues, last 90 days
- 11
- Latest publication
- Sep 29, 2026
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- Jul 6, 2026
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This Is Where It Gets Uncomfortable (opens the original)
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Good morning,It’s been an eventful couple of weeks. The QQQ 720c deserves a mention, although META, SNPS and DAL have all performed well, as have many other names I hold. I added to the QQQ calls at 4.4, taking total premium spent to 40bps of NAV, and have since sold half at 15. The remaining half last traded at 17.24. In my post on the 14th September, I mentioned buying these calls as NQ approached 29k. And after the Fed hiked, I called it a clearing event and said I expect Mag7 to lead. The vi
The Hike We Need (opens the original)
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Although we had a mini puke at first, we closed the day with NDX flat and SPX down 45 bps. I will put myself out there and say that yesterday’s Fed hike was the clearing event we needed. Read more
The Risk of Things Getting Better (opens the original)
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Last time I wrote I put on some QQQ downside and this week I took off half and subsequently bought some QQQ calls as NQ approached 29k. NQ has managed to hold that 29k area well since May, there have been a few moves below it but each time has been met with a sharp rally back above it. I also covered half of the EUR/JPY short at 179 against the 184.1 entry, which moved so quickly that I had not even finished sizing it. MCD was cut for a small loss in the week. I think Friday made it clear that p
The Next AI Trade Is Getting Cheaper (opens the original)
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Good morning,When I launched Phase 3 in March, I put 20% of my book into software while the market was busy explaining why AI would destroy it. In last week’s update, the basket was up 47%. I added to it last week on the pullback as I still think there is more to come.I could spend today talking about how well that trade has worked, but there isn’t much point. The more interesting development here is that I am now prepared to buy a name in the part of the AI trade that I spent most of the summer
They Shorted the Wrong Side of AI (opens the original)
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Good morning,I have taken a few weeks off from writing. August is up there with Christmas time when it comes to the noise to signal ratio, while there has been plenty of action in names I own - index has pretty much done nothing since the first week of August. That should now change with Jackson Hole having happened, which is my green flag that summer is coming to an end. I have never seen much point in creating a market view just because another post is due on here. I am not here to give people
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