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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 2022 - Shattering]()
11 Apr, 20221st Quarter 2022 - Shattering
So much of our world seems to be shattering around us. This letter, Shattering, looks at another period where old orders were collapsing through the life of an extraordinary woman who shattered stereotypes.
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![Fireside Reading]()
8 Feb, 2022Fireside Reading
It's beach weather in LA this week, but in deference to the rest of the country, we'll stay with Fireside Reading. Three amazing novels and one fast-paced nonfiction romp through the world of ...
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![4th Quarter 2021 - Optics]()
12 Jan, 20224th Quarter 2021 - Optics
Euclid wrote Elements 2,300 years ago. It consists of thirteen volumes of mathematical proofs, essentially inventing the field of geometry. It is the foremost work of deductive reasoning, the use of logic to establish hypotheses or proofs.
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![Rick]()
16 Dec, 2021Rick
To fail or to suffice? It doesnt quite have the cadence of Shakespeare, admittedly. It is not the existential question that grips (and eventually destroys) Hamlet. But it is a fundamental question ...
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![Beach Reading]()
12 Nov, 2021Beach Reading
I was expecting this to be a Fireside Reading post, but we are having a heat wave in Southern California that is sending me to the beach. So here are a few suggestions for your literary consideration, ...
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![Basketball is Life]()
28 Oct, 2021Basketball is Life
The last commencement address I gave was in 1978. No one remembers what I said. I know this for three reasons:1. I dont remember what I said2. No one remembers what any commencement speaker says3. I ...
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![3rd Quarter 2021 - Eternity in an Hour]()
5 Oct, 20213rd Quarter 2021 - Eternity in an Hour
One day, after school, Pablo strolled along La Rambla, the wide, tree-lined pedestrian street that runs from the harbor to the Placa de Catalunya, Barcelona's central plaza. He wandered into a used bookstore, and in the back of the store, buried...
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![Beach Reading]()
29 Jul, 2021Beach Reading
A few more outstanding books for your summer readingBlack Buck, Mateo AskaripourThis is an exceptional debut novel about a brilliant (Bronx Science valedictorian) Black man working at a Starbucks for ...
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![Stocks, Bonds & Other Assets: Angeles CIO Michael Rosen Interviewed by Bloomberg]()
8 Jul, 2021Stocks, Bonds & Other Assets: Angeles CIO Michael Rosen Interviewed by Bloomberg
What lies ahead for stocks, bonds, and other asset classes? Our Chief Investment Officer, Michael Rosen, joins Bloomberg Radio to share his outlook on the market, the economy, and other issues impacting investors during the second half of the year.
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![2nd Quarter 2021 - All in the Stars]()
7 Jul, 20212nd Quarter 2021 - All in the Stars
Concrete has been used as a building material since the Roman Empire 2,000 years ago. It has high compressive strength (it doesn't crack under heavy loads) but low tensile strength (it breaks easily when pulled), and its use waned in the...
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![Beach Reading]()
29 Apr, 2021Beach Reading
Beach weather is upon us in Southern California, so here are some book suggestions from my last few months of reading.Love, by Roddy DoyleTwo old friends, Joe and Davy, reunite after many years apart. ...
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![1st Quarter 2021 - Cognitive Dissonance]()
5 Apr, 20211st Quarter 2021 - Cognitive Dissonance
Surgery is painful, which is why humans have experimented with various forms of anesthesia for millennia. Herbal remedies and alcohol were probably used pre-history, opium was cultivated by the Sumerians 4500 years ago, and Peruvians were chewing...
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![Michael Rosen Nasdaq #TradeTalks When Do You Take Profits]()
18 Feb, 2021Michael Rosen Nasdaq #TradeTalks When Do You Take Profits
When Do You Take Profits? Our Chief Investment Officer, Michael Rosen, joins Global Markets Reporter, Jill Malandrino, on Nasdaq #TradeTalks to discuss.
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![Stop the Game!]()
31 Jan, 2021Stop the Game!
Jesse Livermore was a legendary stock trader of the early 20th century. Mere rumors of his involvement in a stock could send its share price soaring.Back then, Livermore organized stock pools, in ...
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![4th Quarter 2020 - Na Triobloidi]()
11 Jan, 20214th Quarter 2020 - Na Triobloidi
Betty Smyth was born in Belfast in the midst of World War Two, to a Protestant father, a butcher, and a Catholic mother, a part-time waitress. She left school at 5 and married Ralph Williams at the age of 18. August 10, 1976 was a hot summer day...
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![Fireside Reading]()
15 Dec, 2020Fireside Reading
Since my last update a few months ago (https://www.angelesinvestments.com/institutional-insights/still-beach-reading), I've moved from the beach to the fireplace, and am happy to share my reading ...
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![Not Just A Game]()
10 Dec, 2020Not Just A Game
There are twenty amino acids in the human body. Amino acids are the chemical links that make up proteins. Proteins perform all sorts of essential tasks. Hemoglobin, for example, is the protein ...
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![3rd Quarter 2020 - Stand Up]()
5 Oct, 20203rd Quarter 2020 - Stand Up
August Landmesser was born into a poor family in a rural village outside of Hamburg in 1910. He came of age in a Germany convulsed with economic strife and political turmoil. He had little education and no particular skills, and no world view...
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![Two (Percent) is a Sad Number]()
21 Sep, 2020Two (Percent) is a Sad Number
Last month, the Federal Reserve unveiled its new monetary framework, following an intensive 18-month review. The principal change was to abandon a target inflation rate (2%) in favor of an average ...
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![Still Beach Reading]()
10 Sep, 2020Still Beach Reading
It's still beach weather here in Southern California, so I have a few more suggestions for beach reading.Begin Again by Eddie S. Glaude, Jr.When I was in school, James Baldwin was unapproachable: his ...
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![Disconnect: How Can Markets Be At All-Time Highs When the World Around Us Is Collapsing?]()
18 Aug, 2020Disconnect: How Can Markets Be At All-Time Highs When the World Around Us Is Collapsing?
Answer: Markets reflect the dynamism and adaptability of private companies, not geopolitical events or socioeconomic upheaval.Many find this conclusion surprising, non-intuitive, but on our recent ...
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![Beach Reading]()
11 Aug, 2020Beach Reading
One of the upsides to confinement over the past few months is that Ive been able to raise my reading capacity. Here are my exceptional encounters. This is mostly serious beach reading, if youll excuse ...
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![2020 Webinar - How Can Markets be at All-Time Highs When the World is Collapsing]()
3 Aug, 20202020 Webinar - How Can Markets be at All-Time Highs When the World is Collapsing
How do investors navigate stock market highs amid historic U.S. unemployment, a global pandemic, civil unrest, and an upcoming U.S. presidential election?
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![2nd Quarter 2020 - Dreams Deferred]()
7 Jul, 20202nd Quarter 2020 - Dreams Deferred
Eunice Wayman was born in Tyron, a small town of around 1600 people in western North Carolina, in 1933, the sixth of eight children of a handyman father and a house cleaner / sometime-Methodist minister mother. This small town was certainly...
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