Manifesto

Most retail investors ignore macro. Three reasons keep coming up: it feels out of reach, useless in the short run, or too political. And yet — three times out of four, what actually changes the value of their savings (regulated accounts, life insurance, real estate, stocks, crypto) is macro. ...

Most retail investors invest on instinct. They buy on impulse, sell out of fear, don’t remember why they hold a given line, and have no written exit criteria. Long term, what costs them isn’t the strategy — it’s the absence of one. ...