TRENDS & TAIL RISKS™

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

Equity Market Volatility (Finally) Catches up to Credit Market Volatility

POSTED ON September 9th - POSTED IN Credit

By Lewis Johnson - The last few weeks have been very eventful in the markets. Many are asking what this newfound volatility means. In the following paragraphs we outline the thoughts of one insightful observer, Ray[…]

Whether to Invest with the Weather

POSTED ON August 5th - POSTED IN Art of Valuation, Replacement Cost, Bottom Up Analysis

By Lewis Johnson - As an investor the most important decision I make every day is what to ignore. After all, it’s a big wide world with literally tens of thousands of financial securities in it: stocks, bonds and other[…]

Contagion: Fog of War?

POSTED ON July 8th - POSTED IN Risk, Contagion

By Lewis Johnson - Writing these weekly research pieces is often a revealing journey for me. I start by surveying the world for the most noteworthy events about which I am concerned. As I winnow and sift my thinking, I[…]

Contagion Revisited

POSTED ON July 1st - POSTED IN Risk

By Lewis Johnson - Big changes are afoot in the markets. It’s time to pay attention! While Greece is very much all over the headlines these days – current events impact far more than Greece. We care about Greece[…]

Demystifying the Business Cycle

POSTED ON June 17th - POSTED IN Prices Allocate Resources, Cycles, Indicators

By Lewis Johnson - The rainy season is well underway here in sunny South Florida. Each day I can confidently predict that the weather will be hot and humid with a good chance of afternoon showers. I can even track by[…]

Lewis Johnson
Chief Investment Officer

Author of Trends & Tail Risks

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