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We analyze the economy and financial markets through the lens of an experienced contrarian value investor. We believe that capital preservation is paramount, and valuation is the best measure of an asset’s long-term expected return.
We use market-based indicators to help us understand where we are in the credit/business cycle and the market’s risk-reward.
We discuss our intermediate and short-term market outlook each month, and we maintain a model portfolio, which is risk-weighted and designed to outperform the 60/40 traditional blend in the current economic environment.
In our view, the best way to grow the economy and improve living standards is through stable money and by encouraging capital investment through lower tax and regulatory burdens.
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