The Biggest Problems We Face Today

Published on October 12, 2026

I started this letter in August of 2000 as a way to organize my own thoughts and communicate with clients. I stuck it on the Internet for free as an afterthought. It took off far beyond anything I could’ve imagined. I was lucky in that most investment and economic newsletters of that era focused on one topic, and over time there’s only so much you can say about one topic.

Continue reading on website
Other news

Agency MBS Offer a Compelling Current Opportunity for Reserve Managers

October 11, 2026
Western Asset’s Ion Dan explains why he thinks the fundamental case for agency mortgage-backed securities has strengthened.

Why Invest in Defense? The Case for Targeted Exposure

October 12, 2026
Broadly speaking, when advisors and investors consider adding focused industry exposure to a portfolio, there needs to be a strong justification for doing so. Take the AI industry, for example, where sustained buildout has driven many to target key tech players for exposure.