Case studies
Black Monday 2025-04-07: a sell sidecar triggered by foreign futures selling
A record of 2025-04-07, when tariff fears sank the KOSPI 5.57% and triggered the first sell sidecar since 2024-08. It lays out a flow picture in which foreign futures selling pulled the trigger while individuals and institutions absorbed the supply.
Macro · 2024.12.09Post-Transition Deferral Was Not a Blanket Return Order: Germany’s Syrian Asylum Decisions
A historical case separating political return demands from the scope of actual administrative decisions.
Industry · 2024.12.03Running on another chip is not the same as lowering total costs
The Trainium2 launch separates custom chips, model-porting software and deployment plans. A more efficient chip alone does not establish falling total investment or the disappearance of GPUs.
Industry · 2024.11.26Does acquiring spectrum settle telecom competition? Satellite-service approval conditions
The SpaceX and T-Mobile approval separates spectrum, partnerships and operating conditions. Examine what remains between competition headlines and changes in customer services or revenue.
Macro · 2024.11The 2024 youth vote shift: Trump's gains were real, but not an overall win
Using CIRCLE and AP VoteCast data, this case reviews 2024 turnout, vote choice, and the gender gap among Americans 18~29, and separates vote shifts from overreadings as policy agreement or realignment.
Industry · 2024.11.01Does locating a data center next to a nuclear plant solve its power problem?
The rejected Susquehanna interconnection amendment separates power contracts, grid approval and cost allocation. Proximity to a generator is not the same as permission to use its output.
Markets · 2024.08After a sell-off, is the rebound about selling pressure or better earnings?
The 2024 yen carry unwind helps separate the causes of a sell-off from the evidence needed to assess a rebound. A recovering price does not necessarily mean a better earnings outlook.
Markets · 2024.03.20BlackRock BUIDL: who did the tokenized fund's revenue go to?
BUIDL, BlackRock's first tokenized fund launched on Ethereum on March 20, 2024 (month 3), pays dollar yields to qualified investors while management, custody, and tokenization fees flow to each service provider. It passed 10 hundred-million dollars in assets under management in March 2025 (month 3), about 1 year after launch, becoming a flagship tokenization adoption case, yet returns are accessible only through fund shares, not held crypto tokens.
Markets · 2023.03.10Interest-Bearing Assets Can Still Lose Value When Sold Urgently: SVB’s Rate and Liquidity Risks
SVB illustrates why promised interest, market prices and the timing of cash needs are different questions.