TRENDS & TAIL RISKS™

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

Icarus Falls: The Gold/Silver Ratio Breaks Down

POSTED ON July 14th - POSTED IN Gold, Thinking About the Future

By Lewis Johnson - Chief Conclusion Expect the ongoing bear market in confidence in central bankers and their minions to power a long and enduring bull market in gold.  They are, in fact, one and the same thing.  A[…]

The End of the Blanche DuBois Market?

POSTED ON May 18th - POSTED IN Gold, Relative Value of Gold (and Credit)

By Lewis Johnson - Chief conclusion We believe that gold is entering a new bull market.  If so, the opportunities for outperformance could be the greatest we have encountered in perhaps fifteen years.

The Message of Gold

POSTED ON March 23rd - POSTED IN Credit, Gold, Relative Value of Gold (and Credit)

By Lewis Johnson - Simplicity should be a constant goal in investing.  Note the key word: goal.  Sadly it’s a daunting effort to reach a simple understanding of our increasingly complex financial world.  Often it takes[…]

Franco Nevada: The Art of Stock Selection in the Gold Sector

POSTED ON March 9th - POSTED IN Gold, Price of Gold, Relative Value of Gold (and Credit)

By Lewis Johnson - Gold is up 19% year to date against the backdrop of a volatile stock market.  In fact, gold just clocked its strongest February since 1975.  Is this the move we have been waiting for in gold?  We[…]

Investing Safely in an Unsafe World

POSTED ON December 30th - POSTED IN Bonds, Credit, Gold, Relative Value of Gold (and Credit)

By Lewis Johnson - Wealth cannot grow unless it is invested and therefore placed at risk.  Done properly, over time, investing in the right risks can be amazingly rewarding.  Choosing the right risks means avoiding the[…]

Lewis Johnson
Co-Chief Investment Officer

Author of Trends & Tail Risks

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