The Art of Boring™ was created for curious and passionate investors. We share strategies, frameworks, and insights to help readers and listeners make better investment decisions. Our aim? To provide some bottom-up, long-term investing signal to cut through the short-term noise.

  • Public and Private Credit: Where investors should focus

    Private credit assets have surged to $2-3 trillion USD over the past decade, but investors might benefit from shifting some focus back to public credit, which offers attractive returns, transparency, and liquidity. While both credit types share common features, the current strong tilt towards private credit may overlook the strategic advantages of a well-diversified public credit allocation.

    June 20, 2024

  • The Power of Latent Earnings

    Current profit levels for fast-growing companies might not necessarily be representative of their true earnings power or “latent earnings power.” When it comes to large businesses, we believe this concept may be underappreciated because they are generally assumed to be operating closer to a mature, steady state.   

    March 27, 2024

  • A Case for Investing in U.S. Mid Caps

    The U.S. equity market is the largest and deepest in the world. As such, it has been analyzed in many ways to determine the optimal means of gaining exposure.

    February 14, 2024

  • Pricing Strategies: Upside Capture Versus Downside Protection

    A company’s pricing strategy can help reveal insights into how a company's business model works, its sensitivity to elevated inflation, and why certain pricing strategies work better than others in different operating and economic environments. 

    January 18, 2024

  • The Case for Non-Predictive Decision Making

    In our view, market participants systematically underestimate the importance of vulnerabilities while correspondingly overestimating the importance of triggers. Why?

    April 5, 2023

  • Inflation’s One-Two Punch

    It’s inflation’s second punch that can deliver a blow that investors may not be expecting.

    January 4, 2023

  • Beware the linearity bias

    We tend to think of our world in linear terms, where the output of a system is proportional and directly correlated to its inputs.

    November 2, 2022

  • The quality conundrum

    The conundrum for investors these days is the trade-off between the value of quality and price to pay for it. 

    March 29, 2022

  • Navigating the U.S. Mid-Cap Landscape: Resilience Amid Uncertainty | EP160

    In this episode, Portfolio Manager Jeff Mo makes the case for investing in U.S. mid-cap equities, highlighting the country’s strong business environment, large domestic market, and GDP growth. He discusses current market trends, including artificial intelligence, and his team’s risk management evaluation, especially with a pivotal U.S. election looming on the horizon.  

    July 11, 2024

  • Watts Up? The Challenges and Opportunities of Powering AI | EP158

    We explore the growing electricity demands of data centers driven by artificial intelligence (AI) with Chris Silvestre, Analyst on the U.S. Equity Team. He shares insights from a recent research trip to data centers in Northern Virginia, discussing challenges related to land availability, energy generation and transmission, and the substantial power needs for developing large language models.

    June 19, 2024

  • Quarterly Update | Q1 2024 | EP152

    As markets continue on a dynamic trend, fixed income portfolio manager Crista Caughlin discusses the economy and factors that drove markets in the first quarter of 2024. In addition, the reemergence of a more typical correlation pattern between stocks and bonds, getting central banks off the sidelines, and the concern that markets may be being too complacent.

    April 16, 2024

  • Why Position Size Matters in Investing | EP151

    Portfolio Manager Manar Hassan-Agha discusses the importance of position sizing in investing and how factors like behavioural biases, market structures, and optimal betting strategies under the Kelly Criterion can impact returns at varying position weights.

    March 28, 2024

  • Post-Mortem: Learnings from 2023 | EP149

    Host Rob Campbell and 11 colleagues on the research team engage in a comprehensive post-mortem analysis, sharing candid reflections on their decision-making processes over the past year.

    February 29, 2024