X · 2026-09-28
The episode’s five original sources
Japan, global growth, capital flows, AI and stablecoins. A 4:58 Spanish audio edition with original context and primary sources.
Read the context on ADVANS →Join the conversation on X ↗ADVANS / CONVERSATION
Ideas grow
through conversation.
Sharing a perspective is the beginning. Listening to other theses, debating assumptions and returning to the data are also part of the analysis.
IDEAS TO EXAMINE
Analysis comes first.
ADVANS readings on fixed income, artificial intelligence and digital assets. Each thesis retains its sources and review date.
FIXED INCOME / CAPITAL ALLOCATION
Bonds: the opportunity is in maturity, not yield alone.
A higher starting yield improves the entry point. The harder decision is how much rate sensitivity to accept and what job the exposure must perform. Three institutional views reach different conclusions because they address different risks.
BlackRock / PIMCO / J.P. Morgan
Read the full analysis →ARTIFICIAL INTELLIGENCE / REAL ECONOMY
AI: who captures value as investment grows.
Rising AI usage does not guarantee attractive returns for every supplier. The opportunity requires separating installed capacity, effective adoption and profits remaining after the cost of capital.
Wei Li / Blackstone / Eric Sheridan
Read the full analysis →DIGITAL ASSETS / FINANCIAL INFRASTRUCTURE
Digital assets: adoption, liquidity and value capture.
A network can gain users while its token loses value. A business can benefit from stablecoins without issuing a speculative asset. Separating these outcomes provides a stronger evaluation framework than a price forecast.
Coinbase / Fidelity / a16z
Read the full analysis →THREE CONVERSATION TOPICS
01 /
Capital markets
Rates, liquidity, valuations and capital allocation decisions.
02 /
Artificial intelligence
Adoption, business models and evidence of value creation.
03 /
Digital assets
Infrastructure, financial applications, regulation and risks.