HeyJaredThe ACID Capitalist
Former global macro hedge fund manager distilling market insights via his alter-ego, the acid capitalist Media https://linktr.ee/acidcapitalist
- Indexed issues, last 90 days
- 13
- Latest publication
- Sep 25, 2026
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- Aug 13, 2026
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the gun that fires backwards. (opens the original)
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preface.the ten and thirty-year treasuries are selling off as i publish this. the niederhoffer rule is flashing red, the latest purchasing managers’ index appears to have given the essay the finger, and x has already pronounced the verdict. the tlt bedwetters are in the ascendancy. perhaps they’re right. i called the bond market in 2008 when almost everyone staring at the same numbers was certain i was wrong, but an old victory doesn’t make the present argument true. this essay is a live demonst
there will be fucking blood. (opens the original)
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a note before you begin: i think this is the best paper i’ve ever written.oil at $100 has built its most convincing technical base in a generation. i’m old enough to remember the last one. in 2007–08, oil broke a thirty-year price ceiling.i’m going to explain why i won’t touch the commodity itself today. but there’s more than one way to skin this cat. and there may be a trade here. a fucking great trade.buy the oil majors.let me explain.hugh. <a href="https://hughhendry.substack.com/p/there-will
the fiscal war. (opens the original)
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the american fiscal position, the monstrous structural deficit, doesn't get resolved. it gets rerouted.the fiscal warwashington has enacted or advanced three pieces of legislation that nobody read and everybody will spend the rest of their career pretending they understood. the GENIUS act. the CLARITY act. names assembled by someone in communications who understood that a bureaucrat who names a law CLARITY has already won the argument, because the alternative is admitting you spent fourteen mont
the nausea. (opens the original)
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preface: most of you are going to read what follows and feel something close to dread. a chart that falls 50 percent looks like a mistake, and your nervous system has been trained since childhood to treat a falling price as information about your own judgment. i want to be honest with you: i feel it too. every time. but i’ve also noticed something, and it’s the reason i wrote this. inside a genuine super-trend, the drawdown isn’t the problem. it’s the mechanism. it’s the thing that creates the e
𝚝𝚑𝚎 𝚐𝚘𝚕𝚍 𝚜𝚝𝚊𝚗𝚍𝚊𝚛𝚍 𝚒𝚜 𝚍𝚎𝚊𝚍. (opens the original)
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<img alt="" class="sizing-normal" height="1448" src="https://substackcdn.com/image/fetch/$s_!G2E3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8bb55c09-f103-4651-b2b2-4aba5bad0deb_1086x1448.p
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