Xavier MacDuff
@xvrmdf.bsky.social
Pouring one out tonight for Nick Train and Terry Smith, who rode consumer staples all the way down, before rotating into data services stocks, which are now getting smashed on the assumed threat from AI.
February 3, 2026 at 6:02 PM
Pouring one out tonight for Nick Train and Terry Smith, who rode consumer staples all the way down, before rotating into data services stocks, which are now getting smashed on the assumed threat from AI.
Latest reading: "The Land Trap" by @birdyword.bsky.social, which looks at how land functions in the economy, and covers a series of major bubbles and how government policies have shaped them. A very readable mix of economic theory and history.
February 2, 2026 at 10:20 PM
Latest reading: "The Land Trap" by @birdyword.bsky.social, which looks at how land functions in the economy, and covers a series of major bubbles and how government policies have shaped them. A very readable mix of economic theory and history.
Another compounder bro favourite "never sell" stock getting absolutely crushed.
January 29, 2026 at 1:56 PM
Another compounder bro favourite "never sell" stock getting absolutely crushed.
Ingredients aren't for the faint-hearted!
January 25, 2026 at 6:03 PM
Ingredients aren't for the faint-hearted!
Octopus & sea bream ceviche, followed by rib of pork with shitake and oyster mushrooms.
January 13, 2026 at 7:41 PM
Octopus & sea bream ceviche, followed by rib of pork with shitake and oyster mushrooms.
Lots of attention this week on the soggy performance of Nick Train and Terry Smith, but let's not ignore Baillie Gifford's Scottish Mortgage, which seems to have largely missed-out on the AI boom of the last few years.
January 11, 2026 at 1:37 PM
Lots of attention this week on the soggy performance of Nick Train and Terry Smith, but let's not ignore Baillie Gifford's Scottish Mortgage, which seems to have largely missed-out on the AI boom of the last few years.
And he's still sticking with the same names. I actually own a couple of these and have two more on my watch list, but really, that position-sizing. 😬
January 7, 2026 at 8:13 PM
And he's still sticking with the same names. I actually own a couple of these and have two more on my watch list, but really, that position-sizing. 😬
Man, he really did nail the zeitgeist for the best part of two decades, and then...
January 7, 2026 at 8:10 PM
Man, he really did nail the zeitgeist for the best part of two decades, and then...
Well, 2026 has started with a big "Buy AI supply chain" vs "sell enterprise software" trade!
January 2, 2026 at 9:07 PM
Well, 2026 has started with a big "Buy AI supply chain" vs "sell enterprise software" trade!
Great view of the game at Murrayfield today!
December 27, 2025 at 5:52 PM
Great view of the game at Murrayfield today!
Bone-in shin of beef.
Because it's Christmas.
Because it's Christmas.
December 21, 2025 at 8:24 PM
Bone-in shin of beef.
Because it's Christmas.
Because it's Christmas.
BlueSky definitely has a lot of users who are trying very hard to pretend that the purple line isn't where this chart shows it is.
December 18, 2025 at 7:43 PM
BlueSky definitely has a lot of users who are trying very hard to pretend that the purple line isn't where this chart shows it is.
I think this is one of the most important factors in the UK economy at the moment.
December 1, 2025 at 10:06 AM
I think this is one of the most important factors in the UK economy at the moment.
More on that, with thanks to the FT.
November 28, 2025 at 10:14 PM
More on that, with thanks to the FT.
This is what I see on bbg.
November 28, 2025 at 2:17 PM
This is what I see on bbg.
OMG it's even worse. She's a DEI Strategist!
November 27, 2025 at 6:33 PM
OMG it's even worse. She's a DEI Strategist!
From the Mirror today on the lifting of the 2-child benefit cap. This woman gets her net income topped-up to £6,412/month. In Scotland, you need to earn ~£130,000 per year to have this net monthly income.
November 27, 2025 at 3:03 PM
From the Mirror today on the lifting of the 2-child benefit cap. This woman gets her net income topped-up to £6,412/month. In Scotland, you need to earn ~£130,000 per year to have this net monthly income.
I can highly recommend the winter light show at Edinburgh Zoo!
November 23, 2025 at 10:02 AM
I can highly recommend the winter light show at Edinburgh Zoo!
So many US equity market darlings have been absolutely crushed this year.
November 20, 2025 at 2:41 PM
So many US equity market darlings have been absolutely crushed this year.
I think we can now safely say that this credit cycle peaked about 1 year ago.
Single B spreads failed to even re-test the lows this summer, and have since been leaking wider.
Single B spreads failed to even re-test the lows this summer, and have since been leaking wider.
November 18, 2025 at 7:04 PM
I think we can now safely say that this credit cycle peaked about 1 year ago.
Single B spreads failed to even re-test the lows this summer, and have since been leaking wider.
Single B spreads failed to even re-test the lows this summer, and have since been leaking wider.
Scandinavian countries rank high on GDP per capita, on the Human Development Index, and low on inequality. They're exactly the countries we should be trying to emulate for a better and more successful society.
November 18, 2025 at 8:28 AM
Scandinavian countries rank high on GDP per capita, on the Human Development Index, and low on inequality. They're exactly the countries we should be trying to emulate for a better and more successful society.
It's really hard for politicians not to make such changes when an issue polls like this.
Zak Polanski on Newsnight last night was trying to argue that immigration isn't a problem. I don't think that position washes with the public.
Zak Polanski on Newsnight last night was trying to argue that immigration isn't a problem. I don't think that position washes with the public.
November 18, 2025 at 8:11 AM
It's really hard for politicians not to make such changes when an issue polls like this.
Zak Polanski on Newsnight last night was trying to argue that immigration isn't a problem. I don't think that position washes with the public.
Zak Polanski on Newsnight last night was trying to argue that immigration isn't a problem. I don't think that position washes with the public.
Really good list of investing maxims from Angus Tulloch, who retired in 2017 with an excellent long-term track record of managing the Stewart Investors Asia Pacific Fund.
November 12, 2025 at 9:02 PM
Really good list of investing maxims from Angus Tulloch, who retired in 2017 with an excellent long-term track record of managing the Stewart Investors Asia Pacific Fund.
Latest reading: "1929" by Andrew Ross Sorkin.
With access to many new sources, this is an excellent updated history even for those who have read "The Great Crash" by JK Galbraith. A real page-turner.
Many parallels to today too!
With access to many new sources, this is an excellent updated history even for those who have read "The Great Crash" by JK Galbraith. A real page-turner.
Many parallels to today too!
November 10, 2025 at 10:39 PM
Latest reading: "1929" by Andrew Ross Sorkin.
With access to many new sources, this is an excellent updated history even for those who have read "The Great Crash" by JK Galbraith. A real page-turner.
Many parallels to today too!
With access to many new sources, this is an excellent updated history even for those who have read "The Great Crash" by JK Galbraith. A real page-turner.
Many parallels to today too!