It was fun to have my friend Lewis Johnson on the podcast. I met Lewis a few years back through my old friend Lowell Kamin in Toronto. Lowell was sending me Lewis’s research and we started to chat. I am fascinated by the changes in the financial advisory industry and Lewis was nice enough to share his firms origin story. Lewis is in Naples, Florida so we eventually got around to some fishing stories and Lewis gave me an open invite. I took him up on the offer last year and we had a great day of fishing.
I think you will enjoy this conversation Lewis and I had recently on the possible cycle changes at hand and the benefits of asset allocation. If you listen closely you will notice that one of us has a slight accent.
For more details on the conversation keep reading…
Guest: Lewis Johnson
Fun Fact: Lewis loves to fish, which is something he can take advantage of as a Florida resident. I’ve had the pleasure of going tarpon fishing with him in the past. He’s great company to keep.
What’s the Panic About:
I had the pleasure of catching up with my good friend Lewis Johnson on this episode of Panic. Lewis has an incredible background, garnering titles like UPenn Wharton MBA grad, money manager, stock picker, researcher and entrepreneur. Lewis’ company, Fundamental Global, is an alternative asset management firm which advises on over $2 billion of assets through its affiliates and deals in research, portfolio diversification and investment advice. If you’re looking for asset management experience and advice – or just someone to go fishing with – he’s your guy. In this episode, Lewis and I had a wide-ranging conversation, discussing managing alternative assets, the value of research and data, his work at Fundamental Global, the markets, the industrialization of China, gold, the Next Big Thing, supply and demand, cycles, crypto, decentralization, SPACs, education, silver lines in COVID-19 and more. It was clearly a smörgåsbord of a discussion. Enjoy!
An important insight Lewis touched on is that cycles are powerful. The ‘Next Big Thing’ could be starting now, in two weeks or even a year. But if there’s one question you should listen to Lewis’ response to, I recommend starting at the 23 minute mark and hearing his answer to “What we don’t know that keeps him up at night.”
“Price is the traffic cop that balances supply and demand.”
“More data does not mean better decisions.”
“Investing can be very humbling and very punishing.”
“If you can communicate a message with humility – what you know and don’t know – people respond.”
Food for Thought:
One thing I admire about Lewis is his intellectual curiosity. He’s got a great monthly publication, Trends and Tail Risks, where he offers in-depth investing insights. If you want to get more into Lewis’ mind after you finish listening to this episode, I recommend taking a look.