Trading Post July 23, 2026 - 3 Stock Buys & the BIS Weighs in on AI's Rampant Circular Financing
원문 보기 (영문) →한국어 번역이 곧 추가됩니다. 그 동안 아래 영문 원문 또는 출처 사이트를 참고해주세요.
Globally, there is a very popular trade, the Momentum Pair Trade, where one arm is going long the cohort of most positive momentum stocks while also mercilessly shorting stocks with the most negative momentum. This has been a winning trade across the most popular type of hedge fund, the “multi-strategy” aka pod shop model, which has been vacuuming up assets marked for alternative baskets.
Below is the chart I used in the July 8th Trading Post to demonstrate the extremes attained of late in this crowded trade. Still true and valid.
For my part, I am vacuuming up cheap good businesses that are getting the short end of that stick. In a sense, I am shorting the pod shops by going long deep value.
As such, I have mentioned and still do think it is a good time to buy in Hong Kong.
My post Hong Kong Stocks: Structure and Strategy introduces Tencent, an all-time great compounder and a stock position to which I added today.
Today I added to my Tencent (0700 HK) long at HK$448.60 per share.
I hid discussion of the second stock and others like it in the May 25, 2026 Short Thoughts post. This post is also where I discuss my use of volume indicators, as in the above Tencent chart.