Credit Spreads Are Too Tight
Investment-grade and high-yield spreads are near post-GFC tights. History suggests this level of complacency is rarely rewarded.
Whiteprint
Independent Macro & Equity Research
Rigorous analysis of macroeconomic trends, company valuations, and market structure. No conflicts, no hype -- just research.
Latest Research
View allOil Market Outlook
A structural view on crude oil markets heading into Q2 2026, covering OPEC+ supply dynamics, demand projections, and geopolitical risk premia.
Dollar Strength and EM Implications
The DXY has rallied to 106. We examine the implications for emerging market assets and the feedback loop between dollar strength and global liquidity.
Carry Trade Risks in 2026
An analysis of the yen carry trade unwind and what rising volatility means for levered positioning across global macro.
Nvidia Valuation Model
A deep-dive valuation analysis on Nvidia, examining whether current multiples are justified by the AI infrastructure buildout thesis.
Models Library
View allValuation
DCF Valuation Template
A comprehensive discounted cash flow model with sensitivity analysis, WACC calculation, and terminal value assumptions. Built for public equity analysis.
Excel (.xlsx)Details
Transaction
LBO Model
Leveraged buyout model with debt schedule, returns analysis, and operating assumptions. Suitable for private equity transaction modeling.
Excel (.xlsx)Details
Macro
Macro Indicators Dashboard
A structured dashboard for tracking key macroeconomic indicators including rates, spreads, and real economy data.
PDF (.pdf)Details