TRENDS & TAIL RISKS™

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

Uniquely American Outperformance?

POSTED ON December 24th - POSTED IN Credit

By Lewis Johnson - “The basic need of the creator is independence. The reasoning mind cannot work under any form of compulsion. It cannot be curbed, sacrificed or subordinated to any consideration whatsoever. It[…]

False Narrative: The Myth of All-Powerful Central Banks?

POSTED ON December 17th - POSTED IN Credit

By Lewis Johnson - “Never interrupt your enemy when he is making a mistake.”

Forbidden Fruit

POSTED ON December 10th - POSTED IN Bonds, Credit

By Lewis Johnson - “Adam was but human — this explains it all. He did not want the apple for the apple's sake, he wanted it only because it was forbidden. The mistake was in not forbidding the serpent; then he would[…]

Crude Oil's Black Friday

POSTED ON December 3rd - POSTED IN Prices Allocate Resources

By Lewis Johnson - “The unfortunate features of the oil history of Pennsylvania have been repeated in the later history of almost every other producing region. There has been the same instability in the industry, the[…]

The Value of Patience

By Lewis Johnson - “Genius is eternal patience.”

Lewis Johnson
Chief Investment Officer

Author of Trends & Tail Risks

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