Alina Khay
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The Trapped Central Bank: Why Debt Service Anchors Hard Assets
The rates market is pricing a fantasy.
6 hrs ago
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Alina Khay
21
6
Is Euphoria Over? Reading the Mid-July Regime Shift
And the Late Cycle Capital Rotation
Jul 17
•
Alina Khay
53
12
Why Does Alpha Disappear Exactly When Opportunities Appear to Be Increasing?
And how Poker can explain this paradox
Jul 12
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Alina Khay
48
9
What Really Drives Gold Now
It isn't real yields
Jul 8
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Alina Khay
46
11
How I Forecast a Market This Crowded: Odds, Precedents and Exits
A record equity overweight, a bond hedge that stopped working, and the Exit Census that counts what is left
Jul 5
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Alina Khay
46
9
America Turns 250. Here's What the Stock Market Is Really Telling Investors About Q3
Markets don't break because they're concentrated. They break when concentration meets a macro shock.
Jul 1
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Alina Khay
63
12
June 2026
The Only Thing Not on Sale Is Leverage
Gold, silver, bitcoin and oil are being liquidated in unison. The dollar and US equities are adored. Sitting under both: a record pile of borrowed money…
Jun 25
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Alina Khay
43
8
Warsh Didn't End the Debasement Trade
The new Fed chair broke the monetary engine of the gold trade. The structural one — deficits, central-bank buying, a less legible dollar — were always…
Jun 20
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Alina Khay
51
6
Where the Momentum Factor Still Works
What three decades of volatility data reveal about momentum’s true constraint
Jun 18
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Alina Khay
50
7
$3.6 Trillion Is Coming to Market: SpaceX, Passive Flows and What Comes After
Three times oversubscribed, priced by decree, and bought by funds that have no choice. The most interesting thing about Friday's listing is the part…
Jun 11
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Alina Khay
48
4
May 2026
The AI Bubble Everyone Keeps Warning You About Doesn’t Look Like What You Think
And The real winners in the AI buildout
May 28
•
Alina Khay
60
6
Forget the AI Bubble Debate. The 2026 Bull Case Is $8 Trillion Boring.
A 9.1% drawdown healed in eleven days. The same shock in 2000 took eleven hundred. Why the floor under them keeps climbing — and what that tells you…
May 24
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Alina Khay
46
1
4
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