Patrick Boyle On Finance

Two chip stocks recently drove seventeen percent of the entire global stock market's return in a single month — which tells you just how concentrated the AI trade has become, and how exposed the average investor now is without realising it. In this video we look at how much wealth an AI crash could actually destroy, with estimates from Dean Baker, former IMF chief economist G...

In July 2026, the US Treasury did something it hadn't done since 1998: it intervened in the currency markets to prop up the Japanese yen — and Treasury Secretary Scott Bessent, a former Soros hedge fund manager, ran the trade in the strangest way possible, selling euros instead of dollars without telling the ECB. But this was never really about Japan. It was about protecting ...

Last week, 24-year-old Leopold Aschenbrenner — former FTX staffer, ex-OpenAI researcher, and author of the viral 165-page essay "Situational Awareness" — managed to lose roughly two-thirds of his $45 billion hedge fund in a matter of weeks. The margin calls arrived during his wedding weekend.In this video I break down how a trader with no professional experience raised billio...

Nikkei Asia recently reported that the five biggest US tech companies are carrying an estimated $1.65 trillion in "hidden," off-balance-sheet debt — and a lot of commentators have reached for the word "Enron" to describe the issue. In this video I look at whether that comparison holds up. It doesn't: unlike Enron, this debt isn't concealed through fraud — it's disclosed in th...

When the United States took control of Venezuela's oil exports in early 2026, it collected an estimated $13 billion in crude sales — but the official ledger in Caracas records almost none of it, and six months on there is still no public accounting of where the money went. In this video we look at what happened to Venezuela's sovereign wealth: the missing oil revenues now sit...