The 4th Pillar: November 2022

The 4th Pillar

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Big changes are taking place in the global economy and financial markets…

The world is shifting from an era of peace, cooperation, open trade, and energy abundance… to an era of geopolitical conflict, economic antagonism, and energy scarcity.

But we’re not pessimists. Far from it.

In fact, we believe that investment opportunities will abound in this new environment. And, as our valued subscriber, it would be a disservice to you if we didn’t shift our investing strategy to capture these opportunities.

As part of this renovation, we’re announcing our own big change: We’re switching out editors.

Without further ado, we’re pleased to introduce Karl Bagga as your new 4th Pillar editor.

Some of you will know Karl from his work on Private Investor (formerly known as Sovereign Man: Private Investor).

For those who are unfamiliar with Karl, he’s worked at investment banks UBS and JP Morgan. As Simon notes: “Karl Bagga is the person I trust to invest my own money.” We’ll share more of his stellar background in this month’s issue.

Also, given this editorial change, we thought it was appropriate to reevaluate the entire legacy 4th Pillar portfolio. So, in this month’s issue, you’ll find our comprehensive analysis of all 22 positions.

As always, the final investment decision lies with you, and if applicable, your financial/investment advisor. But please note that for all positions marked as SELL, we won’t provide further financial or other pertinent updates moving forward.

In closing, we hope that you’re as excited about the future of The 4th Pillar as we are.

We thank Tim for his 11+ years with the publication and look forward to the opportunities that Karl will uncover.

You can read the important messages from Simon, Tim, and Karl – in that order – in this month’s issue.

A global economy that’s dangerously sailing between Scylla and Charybdis Some time between the 12th and 13th centuries BC, more than 3,000 years ago, the legendary Greek king of Ithaca, Odysseus, set off from the ancient city of Troy in modern day Turkey to begin the long journey back home. According to the mythology passed…

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