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

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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...
TPW Advisory Jay
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

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...
TPW Advisory Jay
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...
TPW Advisory Jay
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...
TPW Advisory Jay
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...
TPW Advisory Jay
Jay Pelosky @ TPW Advisory 20 May 2022