By Lewis Johnson - CHIEF CONCLUSION The biggest mistake we see investors make in the markets, repeatedly, is to assume that tomorrow will look like today. Our experience investing over nearly twenty years and trading[…]
By Lewis Johnson - CHIEF CONCLUSION In today’s research, we outline our view that diversification should not end with the simple ownership of many holdings within a portfolio. Rather, it should go further still to[…]
By Lewis Johnson - CHIEF CONCLUSION We believe that superior risk management is the key to successful value investing. Why? To us, investing is not about having a crystal ball to see the future, because successful[…]
By Lewis Johnson - CHIEF CONCLUSION The failure of the 2004 Olympic basketball team suggests that victory is not guaranteed by throwing together a random assortment of even the most talented individual superstar[…]
By Lewis Johnson - CHIEF CONCLUSION If capital preservation is your goal, then I believe the single hardest part of portfolio management is thoughtful preparation for the end of the cycle. I know I worry about this a[…]
