The creator suggests that Taiwan might be an example of "hot money" behavior in the current market environment.
Source Post
Market Regimes, Value Investing, and Macro Misconceptions in EM | Juan Torres
Sep 21, 2026
The creator discusses the current perception of value investing as a "radioactive" asset class, contrasting it with its historical emphasis on safety and margin of safety. They highlight the recent struggles of software companies, which were previously considered "hold forever" businesses, and the dramatic price chart declines from 2021 peaks. A key thesis is presented about the outperformance of market capitalization-weighted indices (like SPY) over equal-weight indices, and how a reversal in this trend could benefit other asset classes like value, cyclicals, small caps, and emerging markets. The discussion also touches on the difficulty of allocating to non-US assets for US capital allocators over the past 15 years.
Linked Mentions
Tickers discussed in this post
The creator argues against selecting countries like Korea based on top-down macro predictions, favoring a bottom-up approach focused on price.
Linked Signals
Tracked calls opened from this post
No linked signals were opened directly from this post.