Esteban Ma
💼TradingKey Financial Editor
🏅CFA Level 2 CANDIDATE
📊Stocks | Cryptocurrency | Commodities
Summary
Esteban Ma, CFA Level 2 CANDIDATE, is a financial editor at TradingKey, focusing on covering equities, cryptocurrencies and commodities. With two years of experience in crypto at Gate.io Research and three years in comprehensive finance, he specializes in cryptocurrency and macroeconomic analysis.
Areas of Expertise
Macroeconomic Research: Analysing Federal Reserve policy, inflation trends, and employment growth
Crypto Finance: Analysing blockchain projects
Data Modeling: Proficient in building and analysing statistical models
Market Insights: Keenly capturing market trends, reporting headline news, and conducting in-depth analyses
Experience
TradingKey｜Financial Editor 2023 - Present · Shenzhen Responsible for writing and publishing real-time news and in-depth analysis articles in the fields of macroeconomics, stock markets, cryptocurrencies, and commodities. Gate.io｜Financial Analyst 2021 - 2023 · Shenzhen Focused on analysing blockchain projects and on-chain ecosystems, building models for traditional finance and crypto finance, and interpreting on-chain metrics and market trends.
Total 624 articles
Target Q3 Earnings Preview: Growth Recovery Expectations Remain Low. Is It Time to Buy?
TradingKey - U.S. retail giant Target (TGT) is grappling with shifting consumer habits and trade policy changes as it prepares to release its third-quarter 2025 earnings before the market open on Wednesday, November 19. The company, which primarily sells discretionary items, is striving to return to
Tue, Nov 18
Nvidia Q3 Earnings Preview: Can Blackwell's Ramp-Up Break the Slowdown and Save the U.S. Stocks?
TradingKey - NVIDIA (NVDA) is set to report its Q3 FY2026 earnings after market close on Wednesday, November 19, positioning itself as a key market focus amid a broader U.S. stock market pullback fueled by AI bubble concerns and liquidity pressures. Analysts widely anticipate NVIDIA will deliver its
Tue, Nov 18
Berkshire's Q3 13F Holdings Shine: Is 'Buy Google' Now the Institutional Tech Play?
This article reviews Berkshire Hathaway's $4.3 billion investment in Alphabet, marking its first purchase of Google stock. With Q3 revenues surpassing $100 billion and growing support from institutional investors, we explore whether Google has won the AI race.
Tue, Nov 18
Fed October Minutes Preview: Divided Economic Data Signals New Normal of Divergence
This article analyzes the impending release of the Federal Reserve's October meeting minutes, highlighting divisions on monetary policy, recent rate cuts, and the potential impact on upcoming decisions. With 56% chance of maintaining rates, investor focus remains sharp.
Mon, Nov 17
Bitcoin's 2025 Gains Erased: Who Ended the BTC Bull Market?
TradingKey - After slumping below $93,500, 2025 Bitcoin price gains have been completely wiped out. Investors are puzzled as to why its bull market, underpinned by political tailwinds, institutionalization, and its four-year cycle, abruptly halted.
Mon, Nov 17
Bitcoin Tumbles into Bear Market, Sparking Bargain Hunt Below $100,000
TradingKey - Bitcoin has plunged into a technical bear market, falling over 20% from its October all-time high after struggling at the $100,000 level. This sharp decline was fueled by near-record net outflows from spot Bitcoin ETFs, unnerving crypto investors. However, the fact that external factors
Fri, Nov 14
What's Really Inside the AI Bubble? Decoding the Core Controversies Over Scale, Reliance and Valuation
TradingKey - What exactly are the concerns surrounding an AI bubble? Broadly, the AI bubble thesis centers on several key anxieties:Firstly, whether the massive AI infrastructure build-out is supported by sufficient genuine demand. Secondly, whether the tech giants' increasing reliance on
Fri, Nov 14
US 13F Filings Flood In: 'Smart Money' Shifts Could Deepen Equity Correction
TradingKey - As US tech stocks grapple with AI bubble concerns and faltering performance, quarterly 13F filings from investment institutions are entering a heavy disclosure period. These reports will unveil "smart money" strategies and could influence future market direction. However, given recent
Thu, Nov 13
U.S. Government Shutdown Scare Is Over, But Not the Stock Market's Headwinds
TradingKey - The longest U.S. government shutdown in history has concluded after President Donald Trump signed a temporary spending bill, removing a key macroeconomic hurdle. While the resumption of federal operations clears some obstacles, investors should temper optimism for a sustained bull
Thu, Nov 13
As Rotation from Tech to Value Gains Steam, Is It Time to Buy the Dow Jones by End-2025?
TradingKey - The Dow Jones Industrial Average has reached successive record highs, and its outperformance against the Nasdaq over the past two days reached the highest level in nine months, signaling an early market style shift from tech to blue-chip or value stocks amid persistent concerns about
Thu, Nov 13
Tech Giants' AI CapEx on Corporate Debt: A Riskier Race?
TradingKey - The narrative surrounding the AI bubble is growing more complex as tech giants like Meta and Google aggressively tap corporate bond markets to finance surging capital expenditures and AI infrastructure. Investors are increasingly concerned that massive corporate debt and novel
Thu, Nov 13
Eli Lilly vs. Novo Nordisk: Why Lilly Is Better Positioned Under Trump's Drug Pricing Pressure
TradingKey - Eli Lilly and Novo Nordisk, the two dominant players in the US weight-loss drug market, are experiencing vastly different investor sentiment despite facing unprecedented GLP-1 drug price cuts under the Trump administration's price cut initiative.
Wed, Nov 12
The Jobs Puzzle During the Shutdown: From Weak ADP to a Rebounding September NFP and an October Surprise Dip
TradingKey - The longest US government shutdown on record is nearing its end, potentially providing the data-deprived Federal Reserve with the September nonfarm payrolls report as early as this week once federal operations resume. However, the October nonfarm data may be permanently lost. During the
Wed, Nov 12
Buffett Pens Last Letter: What Value Does Berkshire Hathaway Hold Without Him?
TradingKey - Berkshire Hathaway is nearing the end of its 'Buffett Era' as Warren Buffett, the 'Oracle of Omaha,' previews his departure as CEO by the end of 2025 and recently released his 'final letter to shareholders.' After leading Berkshire, home to the world's most expensive stock, for 60 years
Wed, Nov 12
SoftBank Ditches Nvidia for OpenAI. Is Leveraging a 'SoftBank Discount' to Back OpenAI's Future a Smart Play?
TradingKey - SoftBank Group's net profit more than doubled in the third quarter of 2025, driven by substantial gains from its investment in OpenAI. This surge follows the conglomerate's decision to liquidate its Nvidia stake and increase its bet on OpenAI, a strategic pivot that now tightly links
Tue, Nov 11
The "Tariff Refund Trade" Tested: Could Trump's Defeat Spark U.S. Stocks Rally, Despite Analyst Unease?
TradingKey - The U.S. Supreme Court heard arguments on November 5 regarding the legality of President Donald Trump’s tariffs, with a majority of justices questioning the president's taxing authority, leading traders to price in less than a 30% chance of a Trump administration victory. Should Trump's
Tue, Nov 11
'The MSTR Model Is Dead': Relief Rally in Crypto-treasury Stocks as U.S. Shutdown Ends
TradingKey - Crypto treasury companies, many of which emulate the "MicroStrategy model," are facing significant challenges. However, with the end of the US government shutdown now in sight, crypto investors are shifting their focus to improved liquidity as a potential catalyst for a reversal of
Mon, Nov 10
U.S. Government Shutdown Nears an End: What's Next for Markets?
TradingKey - The U.S. Senate passed a temporary funding bill, setting the stage for the end of a record 40-day government shutdown as early as this week. The impending resolution is expected to ease liquidity pressures, providing a boost to U.S. equities and Bitcoin, even as safe-haven assets like
Mon, Nov 10
“Trump’s Pharmacy” Cutting Weight-Loss Drug Prices — What This Means for Novo and Lilly
TradingKey - Following agreements with Pfizer and AstraZeneca, the so-called “twin giants” of weight-loss drugs — Novo Nordisk and Eli Lilly — have now also reached pricing deals with the Trump administration. This marks the latest move in Trump’s broader push to cut U.S. drug prices by up to 90%
Fri, Nov 7
US Stock November Prediction: Investors Weigh Seasonal Rally Against Concerns Over AI Valuations
TradingKey - After the S&P 500 Index posted its longest monthly winning streak since August 2021 with six consecutive gains, a hawkish Federal Reserve and concerns over artificial intelligence (AI) valuations have clouded the start of November for U.S. equities. Amidst a broad tech sector pullback
Fri, Nov 7
