TRENDS & TAIL RISKS™

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

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[…]

Our Bond Strategy: The Power of Duration

POSTED ON October 8th - POSTED IN Bonds, Credit, Portfolio Construction for a Challenging World, Risk

By Lewis Johnson - “The holy passion of Friendship is of so sweet and steady and loyal and enduring a nature that it will last through a whole lifetime, if not asked to lend money.”

The Dark Side of China?

POSTED ON September 24th - POSTED IN Credit

By Lewis Johnson - “For every action, there is an equal and opposite reaction.”

Credit: Caught Leaning?

POSTED ON August 13th - POSTED IN Credit, Indicators

By Lewis Johnson - They would say, when Whitey Ford made that incredible motion to nip the base runner off first, that the man was caught leaning. The man was leaning one way, and realized what was happening, and[…]

Is Credit Quality Peaking?

POSTED ON August 6th - POSTED IN Credit

By Lewis Johnson - "Formal education will make you a living; self-education will make you a fortune." -Jim Rohn The U.S. stock market just suffered its worst week in more than two years. Is this just short term[…]

Lewis Johnson
Chief Investment Officer

Author of Trends & Tail Risks

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