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The "Ubislop" Trap: Why Ubisoft is Dying from a Thousand Cuts
From Creative Titan to Content Factory: An Post-Mortem on the Failure of the "Assembly Line" Model and the Brutal Path Back to Scarcity
Apr 27
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The Fed Succession Fight Is Not Just About Rates — It’s About Power, Policy, and Markets
Kevin Warsh’s confirmation hearing exposed a deeper battle over who controls monetary policy, how the Fed communicates, and what investors should expect…
Apr 25
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AT Investment Research
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The Profitability Paradox: Can Circle Scale Beyond the Fed?
Revenue is soaring, but margins are tightening. Explore how a $67B BlackRock-backed reserve is pivoting Circle from a crypto startup into a systemically…
Apr 11
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Quarterly Letter From Alpha Talon Investment Research Limited.
For our Substack Audiences
Apr 1
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AT Investment Research
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February and March Recap: Positioning Through Volatility, Allocating Into Asymmetry
Navigating Geopolitical Risk, Embracing Dispersion, and Building Conviction Through Volatility
Mar 28
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AT Investment Research
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Power, Policy & Markets: An Introduction
A research newsletter on how geopolitical power, economic policy, and strategic competition reshape supply chains, capital flows, inflation dynamics…
Mar 7
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AT Investment Research
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The Strait and the Strike: A Game-Theory Map of the Middle East Escalation
A scenario-based probabilistic framework for U.S.-Israel-Iran decisions, Gulf incentives, and global macro risk premia and choke points.
Mar 3
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AT Investment Research
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"THE 2028 GLOBAL INTELLIGENCE CRISIS" Useful Stress Test, Weak Base Case
The Consequences of “Abundant” Intelligence: Risk, Timing, and the Future of Human Agency
Feb 25
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January Recap: Setting Up for a Strong FY2026
Opportunity, Restraint, and a Few Hard Reflections
Jan 29
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AT Investment Research
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Alpha Talon Investment Research Limited — A Short Year-End Annual Letter
From Zhang, Founder & Chairman, and the Alpha Talon Investment Research Team To our Limited Partners, General Partners, and Board Members
Dec 31, 2025
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AT Investment Research
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Two Markets, One Narrative, and a Structural Mismatch
Why Mainland A-Shares, Hong Kong, and “Greater China” Behave Like Separate Asset Classes, and Where Alpha Actually Exists
Dec 24, 2025
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AT Investment Research
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Private Credit: Fact vs. Fiction
Why the “next financial crisis” narrative misunderstands where the real risks actually sit
Dec 20, 2025
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