View· 2026
Why crypto: inefficiency not yet arbitraged away
Fragmented markets, 24/7 trading, a complete derivatives stack — crypto preserves alpha that traditional markets arbitraged away long ago.
Insights
Insights
Manzi Capital's views on cycles, technology and value investing.
Method· 2026
Judgement and execution: handing human experience to AI
AI now reliably beats most human managers at quant execution; the prior generation's judgement deserves a new way to run continuously.
Cycles· 2026
Three cycles in thirty years: the unchanged entry rule
Internet, mobile, crypto — the technology changes; entering before structural inefficiency is priced in does not.
More views to come.