TPW Advisory
TPW Advisory

TPW Advisory

TPW Advisory is an independent investment advisory boutique offering forward looking, actionable & thematic investment advice to institutions and individuals alike, founded by Jay Pelosky. Learn more: www.pelosky.com.
Location: New York

Analysts

Latest from TPW Advisory

Tug of War

One side has the Fed, its army of speakers & bearish investors; the other has falling US inflation & EU energy prices. The winner will determine the direction of risk assets in 2023; we expect stability ahead &see the USD as the main loser. BofA FMS....
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 18 November 2022

When The Levee Breaks

As Led Zeppelin sang back in the day: "when the levee breaks, mama, you got to move". The inflation levee has broken and investors need to move as macro volatility falls, the USD rolls over and 2023 beckons. A more stable 2023 approaches with potenti...
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 11 November 2022

The Battle Lines Are Drawn

Every parent should wish for Chair Powell's ability to have their kids "listen to my words" like markets do to Powell. Our focus on was on the Fed's description of the asymmetric risk it faces by letting inflation go vs crushing the Econ. The battle....
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 4 November 2022

Stability Ahead?

2022 was a year of cascading crises leading to one of the worst years for Invst returns - today's Q is what about 2023? We think 2023 can be a year of relative normality & stability as crises recede, allowing investors to add to risk assets. The USD....
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 28 October 2022

Things I Don't Understand

Many things puzzle me - key among them - EU nat gas prices & risk asset response; US airline earnings & JETS down 50%. Some things I do understand like 2 sided markets as BTE earnings driven by hi nominal growth support stocks as FI rages. With a 5%...
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 21 October 2022

On To Earnings

While inflation is all the rage its time to turn to earnings; we expect decent earnings growth across the US, EU & Asia. As for inflation this Pantheon quote sums it: evidence of falling inflation is everywhere except in the inflation data. Positive....
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 14 October 2022
On To Earnings
On To Earnings