Posts by Leonardo Drago

A ‘must read’ email hit my inbox, as it does every year. It contained the views of a fund manager who achieved notoriety for his correct call on the 2008 financial crisis

At a charity dinner last month the investor seated next to me proceeded to give a long…

I have a collection of letters sent by fund managers to their investors when closing their fund

I’ve been reflecting on almost thirty years of managing other people’s money, as well as my own, and came to two important lessons I’ve learned about our relationship with money

I vividly remember my professor describing a simple formula for how much money I’d need to retire: just multiply your annual expenses by 25

Markets are governed by cycles. In financial media, almost all the attention is given to shorter term cycles

The ascent to new peaks in stock markets ignites a potent mix of excitement and caution among investors

What risk-free, inflation-protected, after-tax return would you be willing to accept on the totality of your wealth for the rest of your life in order to completely and forever forgo any other investment opportunity?

One of the most valuable pieces of trading advice I ever received was during the early days of my finance career in Hong Kong…

Exactly a year ago I wrote about how indicators were lining up for a positive equity market performance this year, contrary to the pervasive bearishness that economists and investors were forecasting