The Shape of the Next Capital Cycle
When the cost of money changes, the map of opportunity changes with it. A framework for thinking through the next phase of capital allocation.
Read essayIndependent thinking for long-term investing.
Research notes on markets, cycles, technology and the forces reshaping capital allocation.
01 / About
A patient approach to understanding change.
I study the interaction between financial markets, economic cycles and technological progress. The goal is simple: identify durable forces before they become consensus.
This website is a home for my research notes, visual observations and long-form essays. It is written for readers who value clarity over noise and curiosity over certainty.
Start a conversation02 / Insights
Featured research
Essays and notes on the ideas shaping capital markets.
03 / Themes
Research themes
Four lenses for making sense of a complex world.
- 01
Capital Cycles
Where investment flows, and what happens next.
- 02
Technology
The long arcs hidden inside short-term excitement.
- 03
Market Structure
Liquidity, positioning and the stories investors tell.
- 04
Resilience
How to think clearly when uncertainty rises.
04 / Contact
Let’s exchange ideas.
For research discussions, collaboration, or a thoughtful hello.
hello@hupengresearch.com