John S. Tobey

During my 30-year career, I managed and consulted to multi-billion dollar funds. Using the “multi-manager” approach, I worked with leading investment managers. I now manage personal accounts and write about my analysis and decisions. ... From my 50-year personal/professional investment experience, I developed the skills I use to find opportunities and avoid risks. Because markets are ever changing, I choose the strategies (safety, income, value and growth) that conditions warrant. ... My one regular activity is to seek developments and trends being ignored or misinterpreted by investors. These are the situations that consistently produce higher return opportunities (or higher risk levels). ... I am a CFA charterholder with an MBA from Stanford Graduate School of Business and a BS in Finance from San Diego State University. I am a former Washington DC CFA board member and currently serve on the AAUW Investment Advisers Committee and the City of Vista Investment Advisory Committee. ... For more, please see my LinkedIn bio at

  • 「不況は目前だ」という予測が誤りである3つの確かな理由

    2019年10月28日、S&P500種株価指数が最高値を更新したのを受け、Yahoo.comはこう報じた。「株価が最高値更新、人々はがっかりしている(people hate it)」。この見出しがすべてを物語っており、投資家の行動がそれを裏づけている。米ゴールドマン・サックスのデービッド・コスティン ...