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Insights from our CIO
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![Michael Rosen]()
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CIO Insights are written by Angeles' CIO Michael Rosen
Michael has more than 35 years experience as an institutional portfolio manager, investment strategist, trader and academic.
RSS: CIO Blog | All Media
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![1st Quarter 2019 - In the Dust]()
16 Apr, 20191st Quarter 2019 - In the Dust
One of the most popular writers of the 20th century was born, and died, in Manhattan. Kansas, and New York, that is, respectively. Damon Runyon was born to a family of newspapermen.
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![Inversion]()
12 Apr, 2019Inversion
Say "inversion" to a Californian, and the most likely word association is layer. Its our topography that causes this phenomenon, accounting for the haze, smog and June Gloom we experience. Its not a ...
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![Truth and Consequences]()
3 Mar, 2019Truth and Consequences
Archaeological evidence suggests that, for thousands of years, the people who inhabited the Great Plains of North America, stretching from present-day Canada to Mexico, from the Rockies to the ...
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![Only the Lonely]()
4 Feb, 2019Only the Lonely
My first impression when flying into Mexico City a few weeks ago was its vastness. From the air, the city seems to stretch forever. The Valley of Mexico has been inhabited for over 12,000 years, and ...
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![4th Quarter 2018 - Stumble]()
10 Jan, 20194th Quarter 2018 - Stumble
Finland is a small country of around 5.5 million people, about the population of the state of Minnesota. The country has produced one notable musician, Jean Sibelius, and one global company in Nokia.
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![Book Wrap]()
31 Dec, 2018Book Wrap
Time for my semi-annual book perspective. I read a lot of books, but truthfully, most of them I move through pretty quickly. In the non-fiction world, I find many to be one-dimensional, perhaps an ...
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![Breathe]()
20 Dec, 2018Breathe
Twenty-five hundred years, Siddhartha Gautama practiced a form of meditation that involved controlled breathing. Much later, about 700 years ago, this practice, called pranayama, was codified in the ...
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![Angeles CIO Michael Rosen Interviewed by Bloomberg]()
18 Nov, 2018Angeles CIO Michael Rosen Interviewed by Bloomberg
Bloomberg Finance, John Tucker and Katia Porzecanski discuss the October equity selloff with Michael Rosen, Chief Investment Officer of Angeles Investment Advisors.
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![The Intersection of Politics and Investing - Highlights (2:54)]()
16 Oct, 2018The Intersection of Politics and Investing - Highlights (2:54)
The symposium began with a review by Angeles Chief Investment Officer Michael Rosen conducting a "tour" of past midterm election results.
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![The Intersection of Politics & Investing - Full (1:26:03)]()
16 Oct, 2018The Intersection of Politics & Investing - Full (1:26:03)
The symposium began with a review by Angelesà Chief Investment Officer Michael Rosen conducting a "tour" of past midterm election results.
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![3rd Quarter 2018 - De Schuilplaats]()
15 Oct, 20183rd Quarter 2018 - De Schuilplaats
Willem ten Boom, after years of apprenticeship as a watchmaker, opened his own store in Haarlem in 1837. His son, Casper, also became a watchmaker, and the trade was passed down to Casper's children.
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![Talkin' Turkey]()
14 Aug, 2018Talkin' Turkey
The expression comes from Colonial America, but its exact origins are unclear, and its meaning seems to have changed over the years. Originally it was a phrase that denoted pleasant, or even silly, ...
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![Not Beach Reading]()
6 Jul, 2018Not Beach Reading
I love the beach. And I read a lot. I like reading on the beach, but I am not a fan of beach reading. Beach reading is generally defined as light, pleasurable, contemporary fiction, often with some ...
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![Everybody Out'ta the Pool]()
15 May, 2018Everybody Out'ta the Pool
Markets work through the forces of demand and supply. This axiom applies to all markets, from housing to marriage (as Gary Becker famously noted), and anywhere there is an exchange of goods or ...
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![Bear Markets, Bull Markets, and (mis)Timing - Highlights (2:17)]()
18 Apr, 2018Bear Markets, Bull Markets, and (mis)Timing - Highlights (2:17)
The symposium begins with Angeles' Chief Investment Officer, Michael Rosen, reviewing the history of bull and bear markets in the US, noting important distinctions among bear markets, and identifying three categories with...
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![Bear Markets, Bull Markets, and (mis)Timing - Full (1:21:37)]()
18 Apr, 2018Bear Markets, Bull Markets, and (mis)Timing - Full (1:21:37)
The symposium begins with Angeles' Chief Investment Officer, Michael Rosen, reviewing the history of bull and bear markets in the US, noting important distinctions among bear markets, and identifying three categories with...
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![1st Quarter 2018 - Happiness]()
6 Apr, 20181st Quarter 2018 - Happiness
Herodotus tells of the travels of Solon, the great Athenian lawgiver and jurist, who set out to travel the known world. Solon comes to Lydia and is brought to its king, Croesus, said to be the wealthiest man in the world.
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![4TH QUARTER 2017 - BEASTS]()
30 Jan, 20184TH QUARTER 2017 - BEASTS
Paris, at the turn of the 20th century, was the center of the world: the City of Lights embraced innovative entrepreneurs and artists alike.
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![Updating the Triangle]()
3 Jan, 2018Updating the Triangle
Last year, I introduced my big picture framework of assessing the relative attractiveness of markets Inside the Triangle through the lenses of valuation, momentum and sentiment. To recap, the ideal ...
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![(Not) Recommended Reading]()
20 Dec, 2017(Not) Recommended Reading
I dont like recommended lists. They turn experiences into a contest (and the winner is), and one reviewers preferences may have little to do with mine.That said, since my writing covers a very wide ...
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![Hot As Hell]()
16 Nov, 2017Hot As Hell
Hell is hot, as everyone knows. Everyone knows this, but there really is no conclusive evidence: no eyewitness reports, no scientific instruments to measure the temperature in Hell. So, how do we know ...
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![3RD QUARTER 2017 - GHOST MOVES]()
31 Oct, 20173RD QUARTER 2017 - GHOST MOVES
Wei Qi translates as "surrounding game". It is the oldest board game in continuous play in its original form, some 3,000-4,000 years old. Confucius wrote of the many benefits in developing the mind and spirit for those who study the game..
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![It's About Time]()
22 Sep, 2017It's About Time
Lost Time is never found again, advised Benjamin Franklin in Poor Richards Almanack. And Dante Alighieri observed, The wisest are the most annoyed at the loss of time.I have been thinking about ...
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![For What It's Worth]()
21 Aug, 2017For What It's Worth
In the summer of 1966, throngs of young people crowded the Sunset Strip in Los Angeles to hear their favorite bands. Over at the Sunset Tower, Jim Morrison and the Doors were the house band, finishing ...
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