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:
Location: New York


Latest from TPW Advisory

Thrashing About

Cross asset market action increasingly resembles an animal caught in a trap, thrashing about, trying to free itself. A kinder, gentler version would be akin to the child’s game: pin the tail on the donkey, where each child is blindfolded and given ch...
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Jay Pelosky @ TPW Advisory 24 June 2022

Hall of Mirrors

A Bruce Lee fan, I have used his work before (Be LikeWater). In thinking about today’s Musings, the term “hall of mirrors” came to mind. Investing in today’s markets seems a lot like fighting in a hall of mirrors to me – maybe it’s the down 6 days of...
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 17 June 2022


Sawtooth: shaped like the teeth of a saw; a sawtooth wave ramps upward and then sharply drops. Sawtooth was the word I hit upon when thinking at breakfast about what to write today. Obviously the big focus is the US CPI print which came in slightly a...
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Jay Pelosky @ TPW Advisory 10 June 2022

The News Doesn't Have To Get Better, Just Less Bad

Another short week that feels like an extra long one. What I came up with is encapsulated in today’s title: sometimes the news doesn’t have to get better, just less bad. Back in the 1990s, before Twitter, social media etc. the news came from fewer so...
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Jay Pelosky @ TPW Advisory 3 June 2022

The Time To Market & The Time To Invest

Understanding the difference between the time to market & the time to invest is a key investment lesson; one I thankfully learned early in my career. The empty IPO calendar, a closed HY issuance market, the SPAC implosion & demise of the YOLO and dia...
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Jay Pelosky @ TPW Advisory 27 May 2022

Recession: To Be Or Not To Be

From quoting Emerson in last week’s title to Shakespeare today – down now 7 weeks in a row, blood in the streets, it’s that kind of market. In our topsy turvy world it makes sense that the speed of this redirection should be very fast. From transitor...
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Jay Pelosky @ TPW Advisory 20 May 2022