In market terminology a ‘Whale’ is a big fish that dominates markets for a while. Initially nobody knows who they are or exactly what they are doing, but instead observes the unusual behaviour of certain markets.

Global Equity Markets continued to squeeze higher in August, particularly in Tech space as momentum and quality strategies continued to run heavily while Value continued to take a hit – albeit bouncing towards the end of the month.

Last week we discussed how the Biden/ Harris ticket is actually the establishment proposition, a kind of ‘Blue Pill’ offered to the American people so that they can pretend that the world that Donald Trump has revealed doesn’t really exist.

One of the big problems in this information age is the use of heuristics, or short cuts (a point made very eloquently by Daniel Kahneman in Thinking Fast and Slow) which can lead us to make decisions on what is very often low information data dressed up as the opposite.

The US Election is now a little over 2 months away and as traders and investors slowly return home from their holidays (or with undue haste if they are trying to get back to the UK) it will increasingly be the main focus of discussion.