I wrapped up a busy couple of days hosting friends, clients and long-time partners in town. Over tea, coffees, meals, and more than a couple of lively market debates, we explored our new strategy products and the evolving trends in global markets. A big part of our discussions focused on how to further strengthen our…

I will be taking a brief break from blogging over the next couple of days as I host some special guests visiting from far and wide. It is always a joy and occasionally a scheduling puzzle to welcome friends and fellow investors from abroad. Many of them I have known for years. Between shared meals,…

There has been some nervous chatter lately. Are foreigners breaking up with US assets? China and Japan have been trimming their Treasury holdings, and some global investors are looking at alternatives to the once-invincible US market. Is this the beginning of a messy financial divorce or just a healthy bit of portfolio rebalancing? Join me…

I just finished reading this report from an experienced voice based in the US and I must say it is an excellent piece of work. Clear, data-driven, and refreshingly candid about both the strengths and limits of trend following. It also does a great job of explaining why their approach is different from the crowd…

One of Warren Buffett’s most enduring principles is to “be fearful when others are greedy and greedy when others are fearful.” This past spring was a textbook case of the latter when markets were in panic mode after President Trump’s tariff-themed “Liberation Day,” and fear was everywhere. Investors were practically reaching for their parachutes. Fast…