Posts by Leonardo Drago

We are at the first anniversary of my attempt to fit an annual missive into the shoes of Byron Wein’s’10 Surprises’ investor letters.

When I wrote last month about the BRICS conference held in Kazan, I was not expecting to touch on this topic again for another six to twelve months…

“We note the emergence of new centers of power, policy decision making and economic growth which can pave the way for more equitable, just, democratic and balanced multipolar world order.”

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