TRENDS & TAIL RISKS™

A bi-weekly publication dedicated to the principle that deeper and broader knowledge drives superior investment results

Lewis Johnson

Lewis Johnson
Co-Chief Investment Officer at Capital Wealth Advisors and author of Trends & Tail Risks.
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Recent Posts

March Madness

POSTED ON April 4th - POSTED IN Portfolio Construction for a Challenging World

By Lewis Johnson - CHIEF CONCLUSION The failure of the 2004 Olympic basketball team suggests that victory is not guaranteed by throwing together a random assortment of even the most talented individual superstar[…]

Getting Paid to Wait: Mortgage REITs

POSTED ON March 21st - POSTED IN Portfolio Construction for a Challenging World

By Lewis Johnson - CHIEF CONCLUSION If capital preservation is your goal, then I believe the single hardest part of portfolio management is thoughtful preparation for the end of the cycle. I know I worry about this a[…]

Slow and Steady Wins the Race

POSTED ON March 7th - POSTED IN Portfolio Construction for a Challenging World

By Lewis Johnson - CHIEF CONCLUSION Long-time readers of our research will understand that our constant messages are the importance of risk management and avoiding losses. While this seems like common sense, our[…]

Dipping a Toe into the Emerging Market Waters

POSTED ON February 21st - POSTED IN Art of Valuation, emerging markets

By Lewis Johnson - CHIEF CONCLUSION Since 2012, investors owning the S&P 500 have seen their money grow eight times faster than the return of the MSCI Emerging Market Index.  Investors unfortunate enough to lug around[…]

Wealth Re-Distribution

By Lewis Johnson - CHIEF CONCLUSION We agree with Jude Wanniski that the single biggest determinant of our collective economy’s success in the future may come down to how the electorate decides to treat wealth and[…]

Lewis Johnson
Co-Chief Investment Officer

Author of Trends & Tail Risks

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