Current Investment Themes

  • Aging Population
  • Asian Contagion
  • Aussie Debt Crisis
  • Broadcast Auction
  • China Currency and Credit Bubble
  • US Consumer Comeback
  • European Disunion
  • Fed Moderation
  • US Fiscal Stimulus
  • Global Fiat Currency Debasement
  • New Oil and Gas Resources
  • Peak Deflation
  • Rise of the Machines
  • Security and Defense
  • Twilight in Utilities

*Current themes as of 1/12/17, subject to change. See our Investor Letters for descriptions of our macro themes and how we express them in the portfolios.