About Stray Narratives
About the Author
I am a former family office CIO with three decades of experience across European private banking, sifting through the noise for the macro signals that have strayed from the consensus.
Having managed cross-asset mandates through multiple cycles, the perspective offered here is built on a dual foundation of fundamental macro strategy and technical market structure. The approach is rooted in accounting identities, monetary mechanics, and a deep suspicion of any narrative that has become too comfortable with itself.
The Mission
In an era of information overload, the most valuable signals are often the ones that have strayed from the pack. Stray Narratives is an exercise in intellectual non-conformity — reframing the ideas, structural shifts, and market narratives that the mainstream consensus often misinterprets or overlooks.
The goal is not to be contrarian for its own sake. The consensus gets the direction right more often than not. But it almost always gets the magnitude, the timing, or the mechanism wrong. It is in those gaps — between what the market believes and what the underlying structure actually suggests — that the interesting opportunities tend to live.
The Process
The insights shared here are the result of a rigorous weekly process — distilling 20 to 30 hours of institutional research, central bank publications, and global data into clear, out-of-the-box theses. The goal is to do the heavy lifting of reading the room so the subscriber can focus on the implications rather than the inputs.
What You Will Find
Most weeks, Stray Narratives is about something I find genuinely interesting and suspect you will too: an idea, a piece of history, a way of looking at the world I can’t quite put down. Every so often I come across an investment idea too good not to write about, and that week you get the idea instead.
Let me be honest about the rhythm. I write most weeks, and I know myself well enough to know that nobody finds fifty-two good investment ideas a year. The people who publish one every week aren’t more brilliant than the rest of us; they’ve just lowered the bar for what counts as an idea. I’d rather give you the essays in between and save the trades for when I actually believe in one.
The essays aren’t the warm-up act. They’re how I think, and thinking carefully about the world is where the few good ideas come from in the first place. But I also take seriously that a subscription should earn its keep — so when an idea is good enough to back, you’ll get it, and my aim is that a handful each year prove worth a good deal more than the price of the subscription. Also, I would rather say nothing than fill your inbox with noise for the sake of consistency.
What You Will Not Find
Predictions dressed up as certainties. I always start with the assumption that I know close to nothing — which is invariably true — and work from there.
This letter aspires to offer a calm, reasoned second opinion for the serious investor. Nothing more, and hopefully nothing less.
Welcome to Stray Narratives.
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Note: To maintain the candor and objectivity required for this research, I write under the Stray Narratives banner, allowing the data and the theses to speak for themselves.
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Last updated: February 2026
