Wealth of Optimism

Wealth of Optimism

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May 2025

Why 'Smooth' Returns Should Raise Red Flags
The Trouble with Low Volatility and High Returns in Private Markets
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Jonathan Swanburg
1
Exciting Opportunities for Bad Returns
Last week, I sent out a video and some slides focused on the idea that there are no free lunches in the investment world. Strategies that promise to…
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Jonathan Swanburg
1
Volatility & Opportunity: Managing Risk in a Shifting Economy
This week, we hosted a seminar in our office titled Volatility & Opportunity: Managing Risk in a Shifting Economy.
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Jonathan Swanburg
3
7:58
Perception, Fear, and the Art of Not Panicking
Human perception is a funny thing.
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Jonathan Swanburg
1
Bonds Alone Aren't Enough
When the headlines get scary and the stock market gets volatile, I’ll hear investors say things like, “If I can get 4 or 5% from bonds, why should I own…
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Jonathan Swanburg
1

April 2025

The Bond Market Is Not Collapsing
I’ve started to get calls and emails from clients worried about the bond market.
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Jonathan Swanburg
1
The Time to Invest Is When Things Feel the Worst
“She is so good at predicting what will happen in books, so bad at predicting what will happen in life.
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Jonathan Swanburg
1
Taking the Good with the Bad
A lot has happened since last Friday’s note. First, the stock market had its largest two-day decline in 75 years, which caused many investors to sell…
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Jonathan Swanburg
2
The Obvious Outcome of Tariffs
In November 2023, I wrote a note titled “The Obvious Outcomes” explaining why things always seem predictable in hindsight.
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Jonathan Swanburg
1
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