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

Have We Seen the Peak?

POSTED ON October 21st - POSTED IN Gold, Cycles, Thinking About the Future

By Lewis Johnson - Many of us grew up enjoying the cartoon Peanuts and its Charlie Brown Specials on TV.  Charlie was the brainchild of Charles Schulz, who is now widely considered to be one of the most influential[…]


POSTED ON May 13th - POSTED IN Gold, Risk, Relative Value of Gold (and Credit)

By Lewis Johnson - Greece and its crumbling finances have been in the press constantly of late.  The day of decision for Greece appears to be approaching quickly with the latest news that the country is raiding its IMF[…]

Unexpected Change

By Lewis Johnson - The game of poker shares many similarities with investing.  They are both odds driven endeavors where it pays to be logical.  The margin of victory is often slim!  If you play the game of poker long[…]

Gold: Lessons from the Depression

POSTED ON August 20th - POSTED IN Gold, Indicators, Relative Value of Gold (and Credit)

By Lewis Johnson -  Last week’s Trends and Tail Risks noted that there is more money to be made being long the solution than there is in shorting the problem. We are convinced that over indebtedness is the world’s[…]

Gold: Price vs. Relative Value

By Lewis Johnson - After a long hiatus, gold’s quiet outperformance (up 9.6% YTD) is slowly working its way back into the financial pages. However, gold took its time getting back there. After all, the price of gold[…]

Lewis Johnson
Co-Chief Investment Officer

Author of Trends & Tail Risks

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