The Type 2 Investor
We publish a monthly newsletter to update our clients on market activity over the preceding month, provide commentary on whatever we find relevant or interesting, and offer our outlook for investments.
November 2024 – We talk about the post-election portfolio. I also recommend Bad Monkey.
October 2024 – We talk about the longshoremen strike and I make my final prediction on the election. I also recommend Hacks.
September 2024 – We talk about the presidential debate, and I say farewell to my student loans. I also recommend Dark Matter.
August 2024 – We talk about the Trump assassination attempt, the yen carry trade, and the death of democracy. I also recommend The Gentleman.
July 2024 – We talk about Biden’s debate performance. I also recommend Wet Hot American Summer.
June 2024 – We talk about Roaring Kitty and Red Lobster. I also recommend Fallout.
May 2024 – We talk about how Taylor Swift took down TicketMaster and 5.1% interest on savings. I also recommend One Day.
April 2024 – We talk about gold bugs, 5.1% interest on savings, and hot inflation. I also recommend Slow Horses.
March 2024 – It’s the 100th Issue and we mostly just talk about taxes. I also recommend Lessons in Chemistry.
February 2024 – We discuss what to do with those series I savings bond that were all the rage in 2022. I also recommend Boy Swallows Universe.
January 2024 – We review investment performance for 2023 and go over some of the predictions I made throughout the year. I also recommend Mr. Selfridge.
December 2023 – We talk about intentionally overfunding 529 plans. I also recommend Only Murders in the Building.
November 2023 – We talk about how Taylor Swift saved 3Q GDP and how a recent court ruling could upend the real estate market. I also recommend Party Down.
October 2023 – We talk about the greatest bond bear market ever. I also recommend Red Rising.
September 2023 – We talk about how consumers have burned through all of their excess saving from the pandemic. I also recommend Unstable.
August 2023 – We talk about Barbie and the the coming onslaught of other brand IP blockbusters, as well as give a quick update on student loans. I also recommend Our Universe.
July 2023 – We talk about whether or not the Fed has finished the job with inflation. I also recommend The Night Agent.
June 2023 – We talk about the commercial real estate crash as well as the debt ceiling deal and student loans. I also recommend Silo.
May 2023 – We talk about the highest ceiling in the world. I also recommend The Big Door Prize.
April 2023 – We talk about the threat of dedollarization. I also recommend 1883.
March 2023 – We talk about all the bank runs going on and Altruist moving custody in-house. I also recommend Severed.
February 2023 – We talk about believing the Fed and SECURE 2.0. I also recommend Willow.
January 2023 – We review investment performance for 2022, go over some of the predictions I made last year and make some new ones for 2023. I also recommend Wednesday.
December 2022 – We talk Taylor Swift and Call of Duty, not to mention that SBF guy. I also recommend New Girl.
November 2022 – We talk more about the Real Estate Market Ice Age. I also recommend The Bear.
October 2022 – We talk about all the many troubles in Europe. I also recommend Welcome to Wrexham
September 2022 – We talk about the unintended consequences of student loan forgiveness. I also recommend Hard Knocks.
August 2022 – We talk about life insurance. I also recommend Trainwreck: Woodstock ’99.
July 2022 – We talk about the real estate market freeze and a move to a new custodian. I also recommend Star Trek: Brave New Worlds.
June 2022 – We talk about Americans buying less crap and high gas prices. I also recommend Shoresy.
May 2022 – We talk about your grandpa’s favorite investment, U.S. savings bonds. I also recommend Our Flag Means Death.
April 2022 – We talk about higher interest rates, yield curve inversion, and the real estate market. I also recommend Peacemaker.
March 2022 – We talk about the Russian invasion of Ukraine. I also recommend Reacher.
February 2022 – We talk about stock and bond markets stumbling out of the gates in 2022, as well as the Spotify ultimatum. I also recommend Starstruck.
January 2022 – We review investment performance for 2021, go over some of the bigger predictions I made last year and make some new ones for 2022. I also recommend Station Eleven.
December 2021 – We talk about the Omicron good news, the Fed, and the tax loopholes that Build Back Better wants to close. I also recommend For All Mankind.
November 2021 – We talk about the Great Resignation and whether it will last. I also recommend Mythic Quest.
October 2021 – We talk about losing the whole “transitory” narrative with inflation. I also recommend The Chair.
September 2021 – We talk about increasing your after-tax wealth through asset location. I also recommend Loki.
August 2021 – We talk about record-low CFA pass rates and the scheduled expiration fo a bunch of COVID-related government relief. I also recommend Manhunt: Deadly Games.
July 2021 – We talk about people the states people are fleeing and the ones they are flocking to. I also recommend Workin’ Moms.
June 2021 – We talk about people staying on their couches and more about “transitory” inflation. I also recommend Mighty Ducks: Game Changers.
May 2021 – We talk about dog money and “transitory” inflation. I also recommend The Goldbergs.
April 2021 – We try to wrap our head around NFTs. I also recommend Carnival Row.
March 2021 – We talk about the SPACulative frenzy, “stimmy” checks, and some small changes in portfolio positioning. I also recommend Wayne.
February 2021 – We obviously have to talk about GameStop. I also recommend Harry Potter.
January 2021 – We put a fantastic year in the rearview mirror, review predictions from 2020, and foolishly make a new one about Tesla. I also recommend Cuckoo.
December 2020 – The hot Christmas gift for 2020 and the dark winter ahead. I also recommend No Man’s Land.
November 2020 – A vaccine for COVID and wagering on the election. I also recommend The Queen’s Gambit.
October 2020 – We begrudgingly talk about the upcoming election in a manner that is devoid of humor. I also recommend Upload.
September 2020 – We talk about tech stock splits and fantasy football, as well as the rush to refinance. I also recommend High Score
August 2020 – We go over Trump’s executive orders, revisit Thucydides’s Trap, and talk gold and silver. I also recommend The Outer Limits.
July 2020 – We pay our respects to Chuck-E-Cheese and I recommend Letterkenny.
June 2020 – Why are Robinhood users day-trading bankrupt Hertz? We also add silver to portfolios and I recommend Locke & Key.
May 2020 – We speculate on what life will be like in the year 1 AV (Anno Virum), make a quick round-trip of our last tactical move, and I recommend Bojack Horseman.
April 2020 – Weeks where decades happen and an update on portfolio positioning. Plus I finally get to nerd out on Star Trek: Picard.
March 2020 – The Fed tries to stop the coronavirus with interest rate cuts, more adventures in amateur epidemiology, and oil crashes. Plus I recommend The Last Ship.
February 2020 – Adventures in amateur epidemiology, Brexit finally sort of happens, and I recommend watching The Mandalorian on the new Disney+.
January 2020 – We start the year off in the traditional way, with a review of the 2019 predictions I got right, the ones I got wrong, and then foolishly make some more for 2020. I also recommend watching The Witcher.
December 2019 – A bunch of Reddit users exploit Robinhood’s so-called “infinite leverage cheat code,” and we make a shift in our Tactical Asset Allocation. I also recommend Daybreak for some reason.
November 2019 – The Fed makes its 3rd cut of the year, but indicates it’s done for a while, drawing ire from you-know-who. I also like that Adam Ruins Everything.
October 2019 – Does WeWork’s failed IPO mark the top of the unicorn bubble? What are repo markets? And what about these attacks on Saudi oil? We also review The Boys.
September 2019 – The fabled 2- and 10-year inverts for the first time in 12 years, so should you refinance your mortgage? We also review Mindhunter.
August 2019 – The first rate cut in 11 years, plus we just saw the first crack in the leveraged loan market. We also review the Spanish-language La Casa de Papel.
July 2019 – The Fed turns dovish and gold is golden once more. We also go on a little trip to Schitt’s Creek.
June 2019 – Are the US and China falling into Thucydides’s trap? Also not so rare-earths, tactical nuclear tariffs, forthcoming rate hikes, and a review of HBO’s Barry.
May 2019 – Theresa May sees her shadow and I buy a new bicycle. Plus I review the dark comedy After Life.
April 2019 – Brexit through the gift shop, the yield curve inversion expands in March, and the Fed shifts gears. Plus I nerd out on Battlestar Galactica.
March 2019 – Is millennial a four-letter word? I touch upon some of the investing habits of this generation, which was the topic of my recent speech at the Trust Advisors Forum. I also recommend watching Friends, because I didn’t have time to watch anything else.
February 2019 – We talk about strategic asset allocation, the Fed, trade wars, the government shutdown, and ask just who is the president of Venezuela? I also recommend watching The Detour, because we all need a little laughter right now.
January 2019 – We start the year off in the traditional way, with a review of the 2018 predictions I got right, the few I got wrong, and with undue confidence make some more for 2019. I also recommend watching Imposters.
December 2018 – Year-end tax planning, the yield curve goes inverted, Brexit, and the trade war. Plus a Bodyguard without Kevin Costner.
November 2018 – We talk mid-term election results, the increase in retirement account maximums, and the market correction. Also, I talk about Jonah Hill’s weirdly enjoyable Maniac on Netflix.
October 2018 – Adjusting your charitable giving strategy under the new tax code. Also, I review Atypical on Netflix.
September 2018 – I finally get to go to summer camp. Also, Jim from The Office plays finance nerd/hero in Jack Ryan.
August 2018 – The best retirement account may not actually be a retirement account. Also, watch Explained. You might just learn something.
July 2018 – How much should you have in your emergency savings account? Also, should you watch Jericho or just go outside and play?
June 2018 – We outline recent changes to our asset allocation strategy, and recommend watching Crazy Ex-Girlfriend.
May 2018 – Why you shouldn’t invest in your employer’s stock, and why you should watch Cobra Kai.
April 2018 – My $550 trip to Nepal and the joys of geographic arbitrage. I also recommend watching another Dan Harmon show.
March 2018 – Can money buy happiness and, if so, how much do I need? I also recommend watching yet another sci-fi series.
February 2018 – We take a look at January’s phenomenal returns… aaaaaaand, it’s gone! OK, let’s try to dissect the market action this week, as well as discuss recent changes to portfolios that better positioned us for it. Oh, and I recommend watching a series of sci-fi anthologies.
January 2018 – I start the year with a review of the 2017 predictions I got wrong, those I got right, and foolishly make some more for 2018. I also recommend watching The Good Place.
December 2017 – I try to dissect the proposed tax overhaul, express my concerns that MoviePass might fail, and recommend feeling better about yourself by watching Shameless. Oh yeah, and bitcoin. Because bitcoin!
November 2017 – I place my bets on where Amazon’s HQ2 will be located, talk about the nominee to chair the Fed, and recommend getting hooked on Rick and Morty.
October 2017 – I talk about two new ways to invest — ICOs and equity crowdfunding — and recommend watching a 4-hour dick joke.
September 2017 – I hand the newsletter over to my intern, Jason, and recommend watching Last Man Standing.
August 2017 – I explore one of my favorite summer pastimes (checking in on Chicago’s pensions) and recommend watching Ozark.
July 2017 – I try to explain Bitcoin and recommend watching Patriot.
June 2017 – Ghost malls, an update to our investment strategy, and The Last Kingdom.
May 2017 – The only credit card you need, teacher’s pet wins French election, and Catastrophe.
April 2017 – Peak auto and Lemony Snicket.
March 2017 – Things Snapchat is worth more than and the Ides sheep.
February 2017 – I talk about Carl’s Jr. and the Fiduciary Rule. I also recommend The OA.
January 2017 – I review the 2016 predictions I got wrong, those I got right, and foolishly make some more for 2017. I also recommend something to watch on HBO.
December 2016 – I write a poem about the election, herald the return of diversification, talk about what’s cooking in Italy, and recommend something to watch on Netflix.
November 2016 – Buckle up, buckaroos! We look at who the market thinks will win the presidency, how the Brexit vote may be a harbinger for Trump, and what will happen if he actually wins this thing.
October 2016 – The Bank of Japan is buying everything, Deutsche Bank is beginning to look a lot like Lehman Brothers, and we cut equities for a third time this year.
September 2016 – We fantasize about football and turn it into yet another analogy for investing.
August 2016 – I draw parallels between my condo buying experience and the stock market.
July 2016 – We talk a lot about Brexit and not much else.
June 2016 – We take a look at the dismal jobs report, explain why we see predict inflation will heat up, and make a Banarama reference.
May 2016 – We finally give a name to the newsletter, discuss how share buybacks are propping up the stock market in the face of weak earnings, and fill you in on a tactical shift in our asset allocation strategy.
Newsletter 1Q16 – We recap a not-so-boring quarter, look into what the Saudis are up to, and explain what negative interest rates are.
Newsletter 4Q15 – The year in review; Fed finally raises rates; what’s going on with oil; and the nature of junk bonds.
Newsletter 3Q15 – Market correction finally happens; why it’s China’s fault; oil prices find a bottom; and the Fed stands pat.
Newsletter 2Q15 – Greece crisis comes to a head; Venezuela’s currency collapses; Puerto Rico in trouble; China’s imploding stock market; and the strength of the US economy.
Newsletter 1Q15 – A brief look at topics including Greece, the imminent rise in interest rates, the strength of the US Dollar, and the potential for a crisis in the emerging market world.