TRENDS & TAIL RISKS™

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

Successful Failure

POSTED ON June 3rd - POSTED IN Art of Valuation, Replacement Cost

By Lewis Johnson - There are many challenging aspects of investing. Perhaps in no other field does the oppressiveness of the unknown cast such a long shadow as over our efforts to safely shepherd capital through an[…]

Eyes on the Prize

By Lewis Johnson - The story of struggle, of hard work in a time of great adversity which leads through travail to eventual triumph, is an eternal human story. In all cultures and in all languages we can find examples[…]

Contagion?

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[…]

The Art of Contrary Thinking

POSTED ON May 6th - POSTED IN Thinking About the Future

By Lewis Johnson - The business of investing is a strange business. It utilizes all the modern tools that one would expect: computers, spreadsheets, detailed financial modeling, earnings forecasts, research trips and[…]

The Constant of Change

POSTED ON April 29th - POSTED IN Cycles

By Lewis Johnson - History is full of helpful lessons for investors. If only we would heed them! Of course there is so much in the broad sweep of history – upon what should we focus our attention? I have long been an[…]

Lewis Johnson
Chief Investment Officer

Author of Trends & Tail Risks

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