Thursday, April 27, 2017

Sample Reports


MAI View

Alpha from Volatility - February 6, 2017

Global economic fragility has rarely been higher and market volatility has rarely been lower. It is a state of affairs that should not be expected to last. Wealth and alpha will be derived by positioning for change . . .

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MAI View

Contrarianism in 2017 - January 26, 2017

“Did you ever get the feeling that the world was a tuxedo and you were a pair of brown shoes?” (George Gobel) Why it is prudent to allocate a portion of capital to take advantage of a deleveraging global economy . . .

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MAI View

Invest for Real Returns - March 28, 2016

Common sense and a bit of moralizing are necessary to construct a prudent investment portfolio for today’s unparalleled economic and market conditions. Invest for positive real returns . . .

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MAI Idea

Final: Credit Spread Widening - October 5, 2015

The position has generated a 54% ROI (162% annualized), based on our average cost.

MAI View

Around the World - August 5, 2015

A summary macro tour through some of the world’s largest economies in the first half of 2015. Conclusions: the commercial economy is rolling over worldwide and analysis of discrete economies reveals a consistent pattern: overcapacity among over-levered manufacturing and service sectors is being met by contracting global demand from over-levered consumers.

MAI View

The Man in the Moon - May 7, 2015

The Man in the Moon studies the pathology of Earth’s global economy and markets from a distance where there’s no gravitational pull towards empiricism or consensus. His findings: 1) the global economy is over-leveraged, fragile, stagnating, and increasingly centrally managed; 2) capital markets and asset performance have been captured by the perception of the ongoing value of money, and so; 3) unconventional investment analysis is prudent.