Quipus Capital

Brazil monetary and credit cycle review

Interest rates, money supply, credit growth, NPLs, and credit exposures by bank

Sep 27

6

5

Olefins Primer Series 1: Intro

15-page dive into the heart of the Chemicals industry

Sep 13

11

3

August 2025

Four Japanese Chemical Small Caps

Growth, margin, yield and balance sheet in 深值国

Aug 31

11

2

3 Cheap Chinese Chemicals

Potential quality and certain deep value in Chinese specialty chemicals

Aug 17

15

US deficits: much more than manufacturing

Analyzing the exposure of the US to its own trade deficits, going well beyong manufacturing and jobs, into credit, demand and productivity.

Aug 3

13

July 2025

Salmon industry update

Recapping the cycle and developments of the most profitable fish in the sea.

Jul 20

13

2Q25 Portfolio Review

After every quarter, I provide a review of the performance and positions of my two personal accounts (IBKR and Argentina).

Jul 6

4

June 2025

Where do stock returns come from? A napkin framework.

Distilling down a DCF to its simplest components

Jun 29

17

3

Pagseguro and Stone, cheap for a reason?

Economics and prospects of the two large Brazilian POS networks.

Jun 8

11

3

May 2025

The road ahead for the Brazilian economy

A comprehensive analysis of labor, inflation, fiscal and monetary policy.

May 18

15

1

April 2025

1Q25 and April Portfolio Review

After every quarter, I provide a review of the performance and positions of my two personal accounts (IBKR and Argentina).

Apr 27

2

3

Trade and Capital at the Crossroads of War

Global imbalances and the forces that may soon reshape them

Apr 6

15

4