This page contains the archives of my free investing newsletter, going back to the inception of the newsletter model portfolio in 2018. It comes out approximately every two months.
2026:
2025:
- December 2025: The So-Called Debasement Trade
- August 2025: Tighter Fiscal, Looser Monetary
- June 2025: 3 Misconceptions About US Debt
- May 2025: A Trade Breakdown
- March 2025: AI’s Impact on the Investing Landscape
- January 2025: Three Things Never to Fade
2024:
- December 2024: The Rise of Digital Assets
- October 2024: Four Macro Catalysts to Watch
- September 2024: Why Nothing Stops This Fiscal Train
- July 2024: Rates Insensitivity in the Downcycle
- May 2024: The Bond Market is the “Dumb Money” Now
- April 2024: Balanced Portfolio Construction
- February 2024: Economic Reacceleration
- January 2024: Fiscal and Monetary Divergence
2023:
- November 2023: The Monetary Gates are Open
- October 2023: Rising Instability
- August 2023: Six AI Themes to Consider
- July 2023: Fiscal Dominance
- April 2023: Navigating the Debt Ceiling Impasse
- March 2023: A Look at Bank Solvency
- February 2023: Fixing Inflation
2022:
- December 2022: The World’s Money Problem
- November 2022: The Long-Term Fiscal Spiral
- October 2022: Energy vs Sovereign Bond Markets
- August 2022: Investment Cycles
- June 2022: Demand Destruction
- May 2022: Inflation or Recession
- March 2022: Global Bifurcation
- January 2022: The Capital Sponge
2021:
- December 2021: The Fifth Age of Oil
- October 2021: A Resurgence in Value
- August 2021: Supply Chain Woes
- July 2021: Record Household Equity Exposure
- May 2021: Fiscal-Driven Inflation
- April 2021: Seeking Equilibrium
- February 2021: The Treasury Yield Stress Point
- January 2021: The Hindsight Depression
2020:
- November 2020: Defining Inflation
- September 2020: The Fiscal Dance
- August 2020: Treasury Market Dissonance
- June 2020: Market Concentration
- May 2020: First Liquidity, Then Solvency
- March 2020: Crashing Down Through Exter’s Pyramid
- February 2020: Record Stock Valuations
- January 2020: Expectations for the Next Decade
2019:
- November 2019: Inflection Point
- October 2019: Keep Your Eye on the Dollar
- September 2019: Recession Obsession
- July 2019: Global Slowdown and Negative Bonds
- June 2019: Storm Clouds on the Horizon
- April 2019: Unprofitable IPOs and High Corporate Debt
- March 2019: Slowing Growth, Macro Update
- January 2019: 4 Charts Every Investor Should Know
2018: