![[Section Divider Image]](https://substackcdn.com/image/fetch/$s_!Nasm!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Face3557e-2256-479f-ab23-46fa0be52fec_1320x50.webp "[Section Divider Image]")
Greetings, friends!
Your fellow Insider member Jon took this shot on a long equator crossing in the Indian Ocean between remote Maldivian atolls. Nothing but water for 3,000 km straight west to Sumatra.
Brad’s farm in Victoria, Australia. Yes, it is Autumn...a beautiful time of year. Flies, snakes, heat, bushfires, and dust are largely gone and the colours are out.
There were virtually no trees here ten years ago. What a bit of imagination and time can achieve! I romance with the idea of what this frame will look like in five years from now.
And lastly, subscriber Gordon and Deborah’s sunset over the Gariep Dam in Eastern Cape, South Africa.
Lots going on in the world right now. We recorded a short video covering the big stuff in this issue. Watch it above.
In This Week’s Issue
The Commodity Supercycle
Brazil: Case Study
Asset Light to Asset Heavy: The New Face of Tech
Government Bonds
Energy Stocks Defying Logic
Surprise, Surprise: An Oil Exploration Boom
The Bullish Case for Energy
A Lesson in Markets
Ticks
South Korean Stocks Now Available on IBKR
Benjamin Graham Would Roll Over in His Grave
