January 1, 2023

2022 in Review

“History doesn’t crawl; it leaps” – Nassim Taleb RESEARCH   Vanguard economic and market outlook for 2023: Beating back inflation (61 pages) Vanguard with its 2023 outlook covering economic perspectives and global capital markets outlook. Source: Vanguard KKR – Outlook for 2023: […]
December 25, 2022

Santa Claus Favors the UK

“A large proportion of Nomad’s performance in 2007 came from the lessons learnt from mistakes in 2003 and 2004. Think of it as a return on prior year losses.” – Nick Sleep RESEARCH   Counterpoint Global – Capital Allocation: Results, […]
December 18, 2022

Bulls, Burst Bubbles & Bear Markets

“Every economic recovery since World War II has been preceded by a stock market rally. And these rallies often start when conditions are grim.” – Peter Lynch RESEARCH   GaveKal Research – Bulls, Burst Bubbles And Bear Markets ($) (2 pages) Louis-Vincent […]
December 14, 2022

Newsletter Sampler: Doomberg

NEWSLETTER SAMPLER Interested in sampling paid newsletter services? Check out  Name: Doomberg Frequency: 6-8 articles per month Audience: Professional & retail investors Cost: Freemium Author: Doomberg Topics: Energy, finance, and the economy at-large Overview: Doomberg began in May of 2021 to highlight the fundamentals […]
December 11, 2022

Bear Market Bottoms, the Fed & New Recessions

“In the world of business, bad news often surfaces serially: You see a cockroach in your kitchen; as the days go by, you meet his relatives.” – Warren Buffett RESEARCH   3Fourteen Research – The Path to a Pivot (13 pages) 3Fourteen […]
December 7, 2022

Newsletter Sampler: The Daily Dirtnap

NEWSLETTER SAMPLER Interested in sampling paid newsletter services? Check out  Name: The Daily Dirtnap Frequency: Business days Audience: Professional investors & HNW individuals Cost: $795/year (firm-wide site licenses available) Author: Jared Dillian Topics: Market themes and actionable trade ideas Overview: The Daily Dirtnap gives […]
December 4, 2022

Deeeeep value

“Credit is like oxygen. When either is abundant, its presence goes unnoticed. When either is missing, that’s all that is noticed.” – Warren Buffett RESEARCH   AQR – Trend-Following: Why Now? A Macro Perspective (17 pages) AQR shares why both the macroeconomic […]
November 27, 2022

How “transitory” is 8% inflation?

“Finance is often poetically just; it punishes the reckless with special fervor.” – Roger Lowenstein RESEARCH   PIMCO – Risk-Off, Yield-On (6 pages) PIMCO advocates for caution around higher-risk investments given higher interest rates and the challenging macro environment, but notes that […]
November 20, 2022

Stock & Bond Correlation

“The reason that ‘guru’ is such a popular word is because ‘charlatan’ is so hard to spell.” – William Bernstein RESEARCH   McKinsey & Company – The Great Reset: North American asset management in 2022 (27 pages) McKinsey on the North American […]
November 13, 2022

FTX / SBF

“Self-control is a key to investing success, but so is fending off self-delusion.” – Jason Zweig RESEARCH   GMO – Quality Time in Small Cap (6 pages) GMO on the alignment of both the long-term and short-term opportunities in quality-focused small-cap equities. […]
November 6, 2022

More Wealth Destruction?

“We don’t want to give money to people that want our money. We want to give it to people that don’t want it.” – Mark Yusko RESEARCH Bloomberg – Investing Through a Structurally Inflationary Regime (23 pages)   Steve Hou on the […]
October 30, 2022

Living with 100% inflation

“Surviving bear markets requires you to manage both volatility and your emotions.” – Ben Carlson RESEARCH   PGIM – The New Dynamics of Private Markets (52 pages) PGIM on the transformation of private capital, private credit and equity, and portfolio implications.  Some […]
October 27, 2022

Newsletter Sampler: The Transcript

NEWSLETTER SAMPLER Interested in sampling paid newsletter services? Check out      Name: The Transcript Frequency: Weekly Audience: Professional investors & HNW individuals Model: Freemium Author(s): Erick Mokaya & Scott Krisiloff Topics: Curated commentary from earnings calls across all sectors Overview: The Transcript tells the story […]
October 23, 2022

Paul Tudor Jones on ESG

“There’s something that feels right about trying to figure out how everything works and is interrelated, along with identifying new trends and what will happen next in the markets. And yet, in what is perhaps the cruel irony, it is […]
October 16, 2022

Lessons From The UK Pension Crisis

“My peculiarity is that I don’t have a particular style of investing or, more exactly, I try to change my style to fit the conditions.” – Charlie Munger RESEARCH   KKR – The Times They Are A-Changin’ (30 pages) KKR on its […]