Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Asian Hedge Fund manager based in HK/SG with over 20 years of experience managing Asian Long/Short Equity funds. Macroeconomic top-down analysis generates thematic investments that are further researched from the bottom-up. Research is supplemented with advanced technical analysis. 
Previous experience includes M&A with Morgan Stanley and CPA with Deloitte in NYC. Wharton MBA.

JAPAN:  No Lifeguard on Duty, Swim at Your Own Risk

Making Bank - Sector Outperforming Despite the BoJ's “dovishness”

Overview #12 - Not Another Trump Trade!Time to Fade?

Trump Trades and the JAPAN Market Are Like Oil and Vinegar

Are We There Yet? What Next for Japanese Assets?

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Macroeconomics

<ul>
<li>The crowded JPY carry trade will not unwind quickly although future unwind episodes may not be as dramatic.</li>
<li>The size of the carry trade is unknown, however its correlation to various asset classes is predictable.</li>
<li>The largest question for global markets is whether the unwind of the JPY carry trade is a harbinger of tighter monetary conditions globally as markets decline and leverage tightens.</li>
</ul>


The crowded JPY carry trade will not unwind quickly although future unwind episodes may not be as dramatic.
The size of the carry trade is unknown, however its correlation to various asset classes is predictable.
The largest question for global markets is whether the unwind of the JPY carry trade is a harbinger of tighter monetary conditions globally as markets decline and leverage tightens.


BOJ and Carry Trade: THE BUTTERFLY FLAPPED ITS WINGS