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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
An unusually high number of correct entries to last Friday’s chart quiz came from the same broker. Coincidence? Collusion? Plagiarism? We don’t care.
Here are the answers:
That’s the Melrose share price. It’s been going badly of late, seemingly on worries that cash generation will remain anaemic. A reminder that we wrote in June about how previous management might’ve been running Melrose too hot, for short-term reasons.
That’s the S&P 500 3-Month VIX (red) and its most popular equivalent for US Treasuries, the ICE BofA Move index (blue). Rebasing volatility measures is silly, which made this one difficult, but to change the default settings on our proprietary chart-builder tool would’ve meant extra work, so we didn’t.
That’s Microsoft’s capex including cash and leases per quarter. A version of the chart first appeared in this excellent long-read by Madhumita Murgia and Stephen Morris about whether Microsoft CEO Satya Nadella has bet the farm on OpenAI. Reading it reminded us of this unusually good tweet:
So to the wheel of fortune T-shirt:
Congratulations to Emmanuel Wildiers, who confesses that Schroders’ quantitative equity product team shared answers, but because “dividing a T-shirt amongst a team is a bit tricky, we decided to each send in separately.”
Fine. Everything counts as reader engagement, and in August we can’t afford to be fussy. Cheat as much as you like, so long as you click.
Back Friday.
