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Rupak Ghose

@ghose.bsky.social
785 followers 406 following 501 posts

Substack author and freelance contributor

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Rupak Ghose @ghose.bsky.social · 22/08/2026
Don’t do it Mike. Build for the AI world without quarterly earnings hassle. And keep hiring my journalist friends! rupakghose.substack.com/p/stay-priva...
rupakghose.substack.com
Stay Private Mike Bloomberg
Private ownership is a competitive advantage as terminal king faces disruption
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Reposted by Rupak Ghose
Chris Whittall @chriswhittall.bsky.social · 17/08/2026
. @ghose.bsky.social on Jane Street's $15bn July loss Jane Street is a hedge fund, stop calling it a market maker rupakghose.substack.com/p/jane-stree...
rupakghose.substack.com
Jane Street is a hedge fund, stop calling it a market maker
$15bn trading losses in July but up $40bn this year
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Rupak Ghose @ghose.bsky.social · 31/07/2026
Citrini “.I think it’s probable the LPs will BTFD. Situational Awareness is going to get the money they’re asking for…. I don’t think @leopoldasch is in trouble so much as he’s likely to raise the capital he’s asking for…” rupakghose.substack.com/p/citadel-po...
rupakghose.substack.com
Citadel pounces
Citadel buys most of the Situational Awareness public stock portfolio
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Rupak Ghose @ghose.bsky.social · 12/07/2026
£3bn of fees to underperform the index for 12 years. Lucky Terry Smith! open.substack.com/pub/rupakgho...
open.substack.com
Fundsmith: The “Do nothing” mantra that made billions in fees
Is it better to be a Fundsmith shareholder than a fund investor?
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Rupak Ghose @ghose.bsky.social · 06/07/2026
Thanks 🙏🏼
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Rupak Ghose @ghose.bsky.social · 06/07/2026
@resi-analyst.bsky.social central London looks pretty similar to this China chart everyone loving and even worse for intl investors with FX impact?
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Rupak Ghose @ghose.bsky.social · 26/06/2026
Can Ackman tweet his way to outperforming the index… open.substack.com/pub/rupakgho...
open.substack.com
Ackman’s money machine
Pershing Square returns collapse and NAV discount increases
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Rupak Ghose @ghose.bsky.social · 18/06/2026
Dude who sponsored Bayeux Tapestry coming to British Museum doing pretty well in his day job! open.substack.com/pub/rupakgho...
open.substack.com
WorldQuant - The world’s local quant hedge fund
More nationalities than the World Cup
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Rupak Ghose @ghose.bsky.social · 06/06/2026
open.substack.com/pub/rupakgho...
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Rupak Ghose @ghose.bsky.social · 04/06/2026
How to get lead left on the IPO book! What a joke…where is Spitzer @dsquareddigest.bsky.social
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Rupak Ghose @ghose.bsky.social · 01/06/2026
Fascinating growth of quant funds in Paris leveraging the ecosystem around the French engineering schools open.substack.com/pub/rupakgho...
open.substack.com
Who Let the Professors Out? Inside CFM
The $27bn quant on Paris’ Left Bank
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Rupak Ghose @ghose.bsky.social · 30/05/2026
Great to speak to the NYT.. “Howard was a hustler, an opportunist and someone who was willing to push the boundaries,” said Mr. Ghose, who now writes and advises on financial technology. “He’s an entrepreneur who will find a way to make some money somewhere, right?” www.nytimes.com/2026/05/28/n...
nytimes.com
Bare-Knuckle Tactics and Brash Promises: How Howard Lutnick Operates
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Rupak Ghose @ghose.bsky.social · 29/05/2026
how many former Olympiads enter finance and which hedge funds and trading firms do they join? I dig into it this week… rupakghose.substack.com/p/the-quant-...
rupakghose.substack.com
The Quant Kids of Trading
Maths Olympiads hit quant finance
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Rupak Ghose @ghose.bsky.social · 24/05/2026
Bank holiday weekend. Nice weather. Train cancelled. Had to wait for next one. Now standing for 2 hours in the middle of a train carriage to Bournemouth. Why does the UK do engineering works at peak time?
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Rupak Ghose @ghose.bsky.social · 15/05/2026
New Substack on when AI agents take over from the humans in the stock market information ecosystem open.substack.com/pub/rupakgho...
open.substack.com
2031: Analyst vs AI Agents
How AI will transform Sell-side research, Buy-side research and Investor Relations
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Rupak Ghose @ghose.bsky.social · 12/05/2026
There should be a feed for tracking Forbes 30 under 30 grifters…
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Rupak Ghose @ghose.bsky.social · 12/05/2026
Where’s the Bunga Bunga parties?!
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Rupak Ghose @ghose.bsky.social · 09/05/2026
Yeah think there is a balance and many humanities skills are more employable than STEM in post Ai world. What the US does really well is rather than a wealth tax the super rich give billions to universities- tax breaks help for sure and it’s mostly Ivy league but look at Jim S and Stony Brook
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Rupak Ghose @ghose.bsky.social · 09/05/2026
I guess but hard to justify to those who don’t go to university. I got a free university education so pot calling kettle black by me probably
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Rupak Ghose @ghose.bsky.social · 09/05/2026
On grammar, private school fees relative to middle class income has gone crazy compared to 40 years ago partly owing to foreign money flooding the sector. I would be happy with mansion taxes going back into the local schools…as London will pay that and has fewer grammars than Home Counties
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Rupak Ghose @ghose.bsky.social · 09/05/2026
So you pay back your loan then, if it doesn’t lead to a career that requires and is willing to pay for it then why can’t you read about it in a book? Don’t think you can genuinely measure the positive externalities to society IMHO
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Rupak Ghose @ghose.bsky.social · 09/05/2026
Yeah so many of those courses were not leading to the right jobs anyway I would bring back grammar school growth
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Rupak Ghose @ghose.bsky.social · 09/05/2026
Tories “But welfare and immigration scams” Me “Didn’t that problem start with you guys?”
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Rupak Ghose @ghose.bsky.social · 09/05/2026
Me “the local area is a mess” Tories “that’s the London Mayor not us” Me”what do you do then? Tories “we take your bins twice a week, Labour don’t take bins ever” Me “‘The porter in our building takes my bins every 6 hours”
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Rupak Ghose @ghose.bsky.social · 09/05/2026
One good thing about the election being over is not getting letters/ door knocks from politicians. Why not try reaching out in normal times? Tories “are you going to vote for us as Labour are awful” Me “agree but you were awful for 14 years” Tories”that’s the national party not the local party”…
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Rupak Ghose @ghose.bsky.social · 09/05/2026
The Interest on student loans in the U.K. is bonkers. Good piece in the Times. why not give our university students interest free loans but for those students that don’t pay back their loans the universities should pay the bad debt. It would mean universities would be careful about over expansion
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Rupak Ghose @ghose.bsky.social · 06/05/2026
You would think one of these firms would be called Viking…I assume the NYC hedge fund can claim they own the name?! open.substack.com/pub/rupakgho...
open.substack.com
The Traders of Aarhus
Danske Commodities, Danske Cubs and hedge funds come to town
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Rupak Ghose @ghose.bsky.social · 01/05/2026
Jain Global’s returns for last year would more than double if they had been managing this money for Millennium without huge infrastructure buildout. At 8% that would still lag the industry but illustrates the cost problems hitting the world of hedge funds. open.substack.com/pub/rupakgho...
open.substack.com
Jain and the House of Millennium
Tie-up may be a win-win, but Millennium isn’t eating the hedge fund industry
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Rupak Ghose @ghose.bsky.social · 28/04/2026
Right to manage where leaseholders control the budget and minimise ability of freeholders to charge “consulting fees” and other costs
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Rupak Ghose @ghose.bsky.social · 28/04/2026
Over last 5-7 years so not just in one year. But 5 floors and above, portered building and private freeholder without RTM is most exposed
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Rupak Ghose @ghose.bsky.social · 28/04/2026
I am a private landlord and service charges have gone up 50-100% in London blocks with security, high rise and insurance. Zero regulation of cowboy and illegal activity by agents and freeholders!
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Rupak Ghose @ghose.bsky.social · 27/04/2026
Why do people moan about articles in newspapers being behind a paywall? I mean subscribe or don’t or get the free article or get a mate to send it to you. I mean why should it be free…someone has to pay…if not advertisers then the readers of the paper. The newspaper is not paid for by taxpayers.
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Rupak Ghose @ghose.bsky.social · 25/04/2026
They have moved on from the Indian options trade! rupakghose.substack.com/p/is-jane-st...
rupakghose.substack.com
Is Jane Street the best hedge fund in the world?
Market making, arbitrage, VC bets and directional punting
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Rupak Ghose @ghose.bsky.social · 23/04/2026
Tom Tugendhat broken record. What about trust in US administration in the Middle East? www.wsj.com/opinion/the-...
wsj.com
Opinion | The Price Beijing Pays for Backing Tehran
While Iran supplies 11% of China’s oil. Saudi Arabia, Iraq, Oman and the U.A.E. account for 37%.
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Rupak Ghose @ghose.bsky.social · 21/04/2026
open.substack.com/pub/rupakgho...
open.substack.com
Druckenmiller
Lessons from the macro king
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Rupak Ghose @ghose.bsky.social · 18/04/2026
Canals, Rembrandt, cakes, bicycles, ladies, football but also traders… open.substack.com/pub/rupakgho...
open.substack.com
The Traders of Amsterdam
Optiver, IMC Trading and Flow Traders
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Rupak Ghose @ghose.bsky.social · 03/04/2026
Blackrock’s $30bn private markets’ acquisition binge looks increasingly questionable. Very high multiples paid that depend on them delivering a boom of private credit ETFs and other synergies. Link to latest Substack piece 👇 open.substack.com/pub/rupakgho...
open.substack.com
Is Blackrock’s success now dependent on alpha generation and not asset gathering?
The private markets spending binge on GIP, Preqin and HPS
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Rupak Ghose @ghose.bsky.social · 22/03/2026
New Substack piece. The White House is focused on WTI but the whole energy market has been financialized in recent years and many spread trades are blowing up… rupakghose.substack.com/p/barrels-to...
rupakghose.substack.com
Barrels to Basis: The Financialization of Energy
Energy exchanges, margin calls and hedge funds
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Rupak Ghose @ghose.bsky.social · 19/03/2026
US returning the plane to Qatar
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Rupak Ghose @ghose.bsky.social · 19/03/2026
🙏🏼
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Rupak Ghose @ghose.bsky.social · 19/03/2026
lol
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Rupak Ghose @ghose.bsky.social · 19/03/2026
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Rupak Ghose @ghose.bsky.social · 19/03/2026
Bill Ackman tweeting for Fed to cut interest rates by 100bps as Pershing Square portfolio sinks, after a multi year bull market when long only managers calling themselves hedge funds got to charge performance fees for tracking the S&P500…
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Rupak Ghose @ghose.bsky.social · 18/03/2026
Middle East strategy…
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Rupak Ghose @ghose.bsky.social · 18/03/2026
I wonder who increased stamp duty over and over again when in power for a decade…
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Rupak Ghose @ghose.bsky.social · 17/03/2026
He needs to do an FT lunch with the main man!
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Rupak Ghose @ghose.bsky.social · 17/03/2026
FTAlphaberg!
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Rupak Ghose @ghose.bsky.social · 17/03/2026
Details! Simpler times…
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Rupak Ghose @ghose.bsky.social · 17/03/2026
Is Bloomberg dead or the king? The moat is deepest with HFs, FICC and bank sales and trading Will AI replace Bloomberg screens or Bloomberg users i.e. buy side analyst headcount? Is a bear market Bloomberg’s biggest threat? rupakghose.substack.com/p/bloomberg-...
rupakghose.substack.com
Bloomberg is dead, long live Bloomberg!
FICCtastic moats, Mr. Market, AI, regulation, Bloomberg News, and Bloomberg is from Mars and LLMs are from Venus
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Rupak Ghose @ghose.bsky.social · 13/03/2026
Lol
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