TRENDS & TAIL RISKS™

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

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[…]

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[…]

Homer's Iliad

By Lewis Johnson - Chief Conclusion I drew two conclusions from my re-reading of Homer’s classic “Iliad” during my family’s annual vacation to the mountains.  First, the importance of spending our time, our most[…]

Lewis Johnson
Co-Chief Investment Officer

Author of Trends & Tail Risks

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