Thank you for the new (and existing) follows 🫡 Sharing a bit about me. Background - No formal background in finance. Worked in tech startups (2015-2021). Quit during the 2021 crypto bull market to focus more on private investing. - Was in crypto 2019-2025. Did OK and learnt a lot on how finance works in the DeFi world. nitter.net/MacroJason/status/2019… - Early 30s. Lived across 3 parts of the world. A multilingual and multi citizenship 'globalist' who ironically distrusts globalism and buys into a good amount of associated conspiracies. What I invest in now: I'm a top down macro investor. I identify themes and countries I believe in, then select the most assymetrical investment instrument to express that view. 1. Romanian and Polish real estate: my primary position. 20%> AAR since 2018. nitter.net/MacroJason/status/1887… 2. High yield fixed income: began investing after the Ukraine war started in 2022 and yields spiked especially in Eastern Europe. From Hungarian, Romanian and Kazakh sovereign debt to Uzbekistan corp bonds at 29% YTM flagventures.com/blog/xycf30… 3. Global equities: concentrated portfolio on energy, shipping and Kazakhstan banking. I attribute a good amount of my high returns to date to beginners luck. Will be happy if my returns averages out at ~20% AAR overtime. nitter.net/MacroJason/status/2039… 📩 I have a private newsletter which you can subscribe to for free. I do the opposite of spamming. I'm lazy with newsletters and sent out around 4 last year. flagventures.com/

0.28 million according to Red Cross

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Real estate prices went up 3x in many CEE capital cities in the last 10 years. But some investors did not do as well, as they bought flats with bad layouts. E.g. 10 years ago, 1 bedroom flats would be 50-60 SQM in Warsaw. But nowadays, they start from 30 SQM. So if you have a 60 SQM 1 bedroom, you are left in a tricky position. Not many buyers are looking to pay for 60 SQM for only 1 bedroom. Lesson: when you buy a flat that you only plan to sell in 5-10 years time, you can outperform by front running future trends. Many of your competitors are over focused on the current.

Fine, I’ll buy

Subscribers of my YouTube channel not only learn about optimal frontier markets but also optimal pants bagginess and length. You don’t want to go full Gen Z but you don’t want elderly millennial slim fit either.

'Long live the friendship between the peoples of China and Yugoslavia'

I have only just learnt that Kobe Bryant (which I thought was 'Bryan') died. That's how successfully unplugged from pop culture I am.

RT @MacroJason: @yngmisu If you don’t speak Romanian, Uzbek or Chinese - you’re NGMI in the 2030s

Sending some soft core Polish propaganda off to Uzbekistan (though obviously with the great German company that is DHL) 'Unyielding Warsaw: 1945 ruins vs today'

Background: Romanian guy from the UK remigrated back home and bought an Anglo +1 with him. Noticing this micro trend both in Romania and Poland. Local guys with a foreign girl from other Euro countries. Bullish growth of blue eyed population in RO and hopefully bullish real estate demand too.

The German tailoring industry never recovered post WW2. In the interwar period, Berlin tailors rivalled London, Paris and Milan.

War time Kyiv is higher trust and more first world than Buenos Aires. This daylight robbery happened in one of the nicest parts of BA too (Palermo Hollywood). You can have excellent climate, natural resources, geopolitics safety and even a Jewish president - but nothing can fix low median IQ.

Forward looking Anglo zoomers are learning the language of the future

A lot of you are underestimating the number of EE girls earning a few thousand $ / month doing cosy remote jobs (e.g. SMM & PM). This trend accelerated massively: 1) post 2020 with remote hiring, 2) post 2022 in the case of Ukrainians being able to access the EU job market. MENA guys are upset as many of these EE girls now earn more than them - which is perfectly fair as their median IQ is at least 1 SD higher.

I am ashamed to admit I have only just learnt that Mises and Robert Nozick are Jewish. Milton Friedman and Murray Rothbard I quasi knew about. 3 years at a supposed elite British university and I really learnt nothing. Worse still, I worshipped false idols (shilled for many of them in my LSE essays to the annoyance of Professors and as a result barely edging 2:1).

If you’re looking to drop a few thousand € on a trench coat - buy from Japanese boutique Cohérence and not Loro Piana

Bonds crashing, but not everywhere Yes yes - different timeframe, base effect and UZ 10 yr might be hypothetical rather than tradable. Still - KZ & UZ deserve some credit for being amongst the few countries doing relatively well. $UZNF $HSBK $KSPI

In a certain Central Asian country, I switched from a half ethnic Russian contractor to a full ethnic Russian contractor. The quality and speed of work increased by at least 33% (though the previous person was great too). This hack works well in LatAm and UAE too btw (countries with increasing young & educated RU pop post 2022) with even more pronounced results.

Secondary market quote I got from my Uzbek broker today. Issue date was Oct 29 2025 at 28% YTM. The few fixed income folks following me will appreciate how insane this yield compression is. Meanwhile some USD local bond issues are at 11.5%. At these yield differentials, USD makes more sense. Still expecting some new UZS issues in coming months at ~20% YTM and there are still some UZS bonds on secondary market at ~20%. Currently there are not enough UZS bonds on the market relative to increasing investor demand - hence some are trading at a premium on illiquid secondary market.

I wanted to invest in the country with 5% GDP growth and healthy deflation. But I got the flags mixed up and invested in the wrong country. Now stuck as a bag holder. @NicusorDanRO - Mr President, can I have a refund?