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

The Real March Madness

By Lewis Johnson - CHIEF CONCLUSION The Fed can’t print a vaccine for coronavirus COVID-19, but it can attempt to ease market distress by reversing the spike in real interest rates that took place when the Fed allowed[…]

Risk Management in an Uncertain World: Asset Allocation 1 - Timing Fairy 0

By Lewis Johnson - CHIEF CONCLUSION Last week the equity market suffered the fastest drop ever from an all-time high.  We believe that the violence of this collapse makes a strong case for professional risk management[…]

Tech Valuations Party Like It's 1999

POSTED ON February 20th - POSTED IN Thinking About the Future, technology

By Lewis Johnson - CHIEF CONCLUSION It should come as no surprise to our long-term readers that, when equity valuations become extended in our view, our research team grows more cautious.  Our team finds itself at such[…]

3 Keys to Sell Discipline

POSTED ON February 6th - POSTED IN masters of investing

By Lewis Johnson - CHIEF CONCLUSION Buying an investment may be only half the battle.  What about when to sell?  We think the ability to sell well is one of the rarest and most valuable skills in investing.  Our[…]

4 Investment Lessons from Losing a Hundred Pounds

POSTED ON January 23rd - POSTED IN

By Lewis Johnson - CHIEF CONCLUSION The other day I passed a big milestone, I lost a hundred pounds from my peak weight.  I thought I would take a minute and write about it, because like so many other things in life, I[…]

Lewis Johnson
Chief Investment Officer

Author of Trends & Tail Risks

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