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The AI Came Later
Five weeks ago my job changed. The brief was to lead an AI transformation across a listed property group with five business units. Here is the honest report from month one: there was very little AI in it.
· 3 min read
Property Strategist & Market Observer
Notes on Hong Kong property, and the cycle underneath.
A short read every Wednesday on rates, capital flows and the Hong Kong market. What I notice from working in it.
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Two Hands on the Yield Curve
Last week the US Treasury started buying its own long bonds to push long yields down.
· 3 min read
The Week They Bought Their Own Bonds
Three dates tell the story of this summer. In late July, Japan stepped in to buy yen, and for the first time in fifteen…
· 3 min read
The 10:30 Train to Kinosaki
The last firework over Toyooka went off around ten at night. Thirty minutes later, on the station platform, I saw the…
· 3 min read
The Number That Traps the Fed
Last Friday, the US economy reported something it was not supposed to do this year. It lost jobs.
· 3 min read
Nobody Films the Building
Hong Kong property advertising in the early 2000s was gilded. Chandeliers, gold leaf, imperial columns, a vocabulary of…
· 3 min read
Digital Gold Failed Its Exam
2026 handed the digital gold thesis exactly the conditions it had been asking for.
· 3 min read