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Liquidity and the Illusion of Certainty

November 13, 2025 by David Thomas

Every market story eventually returns to the same source: liquidity.

When it expands, confidence follows.

When it contracts, conviction disappears.

But liquidity itself isn’t emotional, we are.

It’s the invisible current that moves capital, sentiment, and policy in quiet cycles.

The trick isn’t to predict the flow, it’s to respect it.

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About David

David Thomas invests in the world's largest tech stocks, and writes a newsletter about the global tech ecosystem, and is host to The Global Tech 15, a portfolio of between 12-15 mega-cap tech equities and private community.

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