TRENDS & TAIL RISKS™

A monthly publication dedicated to the principle that deeper and broader knowledge drives superior investment results

Risk Is Not What They Tell You It Is

POSTED ON August 8th - POSTED IN Bonds, Risk

By Lewis Johnson - CHIEF CONCLUSION Sometimes the strength of the whole can be dependent upon what may seem an unimportant or even paradoxical piece.  Investing can be like that too.  In our opinion, the best[…]

Get Long the Hurricane

By Lewis Johnson - CHIEF CONCLUSION In my opinion, the single toughest challenge in investing is to creatively think about risk management. We seek to balance our goals for long-term growth with the risks we face on[…]

Swing and a Miss

POSTED ON July 11th - POSTED IN Bonds, Gold, Relative Value of Gold (and Credit)

By Lewis Johnson - CHIEF CONCLUSION One of the biggest investment surprises in recent memory has taken place in two important markets over the past year or so: rallies in the price of gold and that of the U.S.[…]

Liquidity Moves Markets

By Lewis Johnson - CHIEF CONCLUSION The Fed is at it again! Not content with its nearly successful attempt six months ago to break the financial world, the Fed is once again fiddling while interest rates burn. Today we[…]

Animal Spirits

POSTED ON June 13th - POSTED IN Portfolio Construction for a Challenging World

By Lewis Johnson - CHIEF CONCLUSION Are tariff announcements breaking the market’s “animal spirits” that are necessary for the health of a historically extended bull market in equities?  We examine some important[…]

Lewis Johnson
Chief Investment Officer

Author of Trends & Tail Risks

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