It has come to my attention that research produced for this blog and for other media might be used for meretricious purposes. Any determination that a portion of my work and investment methodology has found its way into bait and switch promotions, to raise capital for high risk third party products, would be unconscionable. The purpose of my research is to demonstrate that high quality global portfolios can produce risk adjusted returns in excess of speculative portfolios; it is not designed to be employed FOR the promotion of speculative portfolios. Such uses fall far beyond my moral center. While I hope that these fears are unfounded, it is far better to be safe than sorry.

Accordingly and for the forseeable future, I have made the decision to discontinue the issuance of reports, updates and articles on securities that I hold personally, within the blog model portfolio and for various and sundry investment firms throughout the world.   What I do have are a very particular set of skills; skills I have acquired over a very long career.  My selection criteria, allocation system and investment modelling strategy is very specifically designed to serve the ultra high net worth investor.  An outlet is required that will utilize my work as intended. 

Finally, to better protect the integrity of my brand, I am discontinuing external investment research support for any and all third party accounts using my name.  In an investment world rife with envy and riddled with mediocrity, I can no longer determine any productive purpose, nor can I find any benefit, for further publishing of certain notable insights that, almost invariably, are either taken out of context, misattributed, misused, misinterpreted or plagiarized.    

Short of turning my work into the world's most exclusive "pay for subscription site", which I find equally distasteful, the only responsible solution that remains is to stop producing reports, both public and private, for a time. 

At some point, perhaps I will return to the mutual fund and private money management industry in a formal capacity. One of the options under consideration may include the outright purchase of an existing mutual fund management company. Should a suitable vehicle be found, my efforts to illuminate high net worth investors in regards to selected global success stories will recommence. 

Alternatively, I may elect to keep my research reports, and profits earned therein, restricted to immediate family. Despite possessing some vague notions of grandeur, I've rather recently come to the conclusion that there aren't many important goals left to achieve in the investment markets.  To quote Winston Groom: "there's only so much fortune a man needs, the rest is just for showing off."   The business model recently adopted by Soros and Icahn, of managing only personal savings, is perhaps the correct approach.  

To conclude, for the time being, I choose to withdraw from the public investment world.  Those who know me personally are, as before, most welcome to stay in touch.  I thank readers for their attention to my global work and wish them the very best in their future investment, professional and personal endeavors.