Private Briefing with Chris Mayer
Friday, April 18th, 2025
Laramie, Wyoming
By Dan Denning
Dear Reader,
If politics haven’t taken a pause to collect their thoughts for the Easter weekend, markets have. You can see from the chart above that the Dow Jones Industrials is poised at the so-called ‘death cross’ where the short-term moving average has crossed below the long-term moving average in a bearish technical signal (perhaps a bit on the nose for Good Friday, but it is what it is).
What comes next?
I decided to step back from the price action and news flow to look at the long-term investing picture with my old friend Chris Mayer. Long-time readers will know Chris from his old newsletter Capital and Crisis. Or, you might know him more recently as the founder and fund manager at Woodlock House Family Capital.
Chris partnered up with Bill Bonner to start Woodlock House in 2019. He goes into the thinking behind the fund and some of its best-performing investments, as well as what expects for the rest of the year. I also asked Chris some of the questions you submitted by email.
Enjoy the conversation and have a peaceful and happy Easter.
Dan
P.S. Late in our conversation I tried to recall the name of a Platonic dialogue in which a specific phrase appeared. I got it wrong. It was not the Meno. It was the Apology. Apologies!
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