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

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[…]

On Your Team

By Lewis Johnson - CHIEF CONCLUSION When it comes to investing, it’s easy to get lost in the details of analysis and strategy while forgetting the noble purpose to which all its efforts are truly dedicated: helping[…]

The Gold Analyst, Loneliest Guy in Town

POSTED ON January 10th - POSTED IN Gold, Relative Value of Gold (and Credit)

By Lewis Johnson - CHIEF CONCLUSION What we believe to be the biggest change in decades is underway in monetary policy, which is creating new winners and losers in the markets. Central banks are selling hundreds of[…]

Not Even Wrong

POSTED ON December 27th - POSTED IN Cycles, Indicators

By Lewis Johnson - CHIEF CONCLUSION The Fed is overtightening. It is advancing interest rates at a faster pace than that currently priced into the market. The stock market’s recent plunge, the worst December[…]

Lewis Johnson
Co-Chief Investment Officer

Author of Trends & Tail Risks

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