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Investment Insights
321 Results-
![3rd Quarter 2025 - Photograph 51]()
6 Oct, 20253rd Quarter 2025 - Photograph 51
Errors of the past must be corrected, and progress comes through collaborating with colleagues that have diverse experiences, skills and perspectives. We learn these lessons by looking at the most important photograph in history.
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![Beach Reading]()
26 Sep, 2025Beach Reading
September is the best beach month in Southern California: the water is warm, the days are long, the crowds are gone. I have seven books to recommend, five ...
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![A Dark Stain on American History and the Patriot who Stood in Opposition]()
6 Aug, 2025A Dark Stain on American History and the Patriot who Stood in Opposition
At AWM, we believe leadership takes courage, especially in times of challenge. Jonathan Foster, our President and CEO, reflects on his great-great-grandfather, Senator George Frisbie Hoar, who bravely opposed the Chinese Exclusion Act.
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![Beach Reading]()
18 Jul, 2025Beach Reading
Most of you know that Beach Reading is not a list of "summertime" romances or light novels, but rather my usual mix of fiction and nonfiction books ...
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![2nd Quarter 2025 - Seed Bank]()
7 Jul, 20252nd Quarter 2025 - Seed Bank
Investment principles are rooted in true experiences, but investment success comes from cross-fertilizing those principles with new ideas to adapt to the new environment. We hope you enjoy this quarter's letter.
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![Private Equity - Why Now, Why Still]()
23 Jun, 2025Private Equity - Why Now, Why Still
Despite recent headlines, the rumors of Private Equitys (PE) demise are greatly exaggerated. PE has historically faced similar challenges, adapted, and recovered stronger. We believe that will again be the case.
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![1st Quarter 2025 - Exorbitant Privilege]()
2 Apr, 20251st Quarter 2025 - Exorbitant Privilege
The United States is unilaterally dismantling the global economic structure that it created 80 years ago. We no longer wish to bear the responsibilities of leadership, but we may come to regret losing the privileges that come with it.
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![Fireside Reading]()
18 Feb, 2025Fireside Reading
Three nonfiction and three fiction recommendations for your fireside reading. Enjoy! ...
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![4th Quarter 2024 - The Colbert Show]()
22 Jan, 20254th Quarter 2024 - The Colbert Show
Louis XIV was a financial genius whose policies both enabled the rise of France and contributed to its eventual decline. The lessons of that time are more relevant today as the world turns back to adopting many of those same economic principles.
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14 Jan, 2025"The horror, the horror"
On a beautiful January day that exists only in California, snow-capped mountains to the east, sparkling Pacific Ocean to the west, I saw the flames starting on ...
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![Friendships]()
19 Dec, 2024Friendships
Last month, I returned to college for a ceremony honoring my coach. I have stayed in touch with Coach all these years, it is one of my most treasured ...
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![Year End Newsletter 2024]()
12 Dec, 2024Year End Newsletter 2024
We would like to share some time-sensitive information as well as various planning strategies with you as we wrap up 2024.
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![Fireside Reading]()
9 Dec, 2024Fireside Reading
Seven selections for your winter reading, including my Book of the Year. May you have a warm and enchanting reading season. ...
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![3rd Quarter 2024 - Maginot]()
8 Oct, 20243rd Quarter 2024 - Maginot
"Don't fight the last war" is sound advice to military planners, but also good guidance for investors and policymakers. Maginot examines the consequences of failing to follow this adage by investors, politicians and generals.
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![Beach Reading]()
13 Aug, 2024Beach Reading
Six new books for you, all fiction, all great. I hope you enjoy! ...
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![2nd Quarter 2024 - Verschlimmbesserung]()
8 Jul, 20242nd Quarter 2024 - Verschlimmbesserung
Investors make two big mistakes in assessing the risks of volatility and liquidity in equities. Solving for one problem creates a far bigger one, a notion captured by this mouthful of a German word, Verschlimmbesserung.
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![Beach Reading]()
8 May, 2024Beach Reading
I'm happy to go to the beach year-round, but it's now really becoming beach weather, so I have five new book suggestions for your next trip to the beach.Nonfiction ...
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![1st Quarter 2024 - Luminiferous]()
9 Apr, 20241st Quarter 2024 - Luminiferous
One of America's greatest scientists was responsible for the most famous failed experiment in history. Therein lies lessons for investors today. We hope you enjoy our latest quarterly letter, Luminiferous, by our CIO, Michael Rosen.
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![2023 Sustainability Report]()
5 Apr, 20242023 Sustainability Report
Angeles Investments believes transparency is key to accountability. With this in mind, we are proud to share the 2023 Angeles Sustainability Report. This annual report highlights our sustainability initiatives and progress made during 2023.
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![Transitioning to OCIO: Enhancing a Foundation's Mission Alignment]()
2 Apr, 2024Transitioning to OCIO: Enhancing a Foundation's Mission Alignment
A community foundation embarked on a transformative journey to elevate its investment effectiveness and mission alignment. The following case study highlights a foundation's transition to a fully discretionary, OCIO.
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![Fireside Reading]()
1 Mar, 2024Fireside Reading
Seven new selections for you - 3 fiction, 4 nonfiction - while it's still fireside reading season. Enjoy! Fiction ...
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![4th Quarter 2023 - Storms]()
9 Jan, 20244th Quarter 2023 - Storms
Confronting seemingly intractable problems with determination & innovation are necessary for investment success. Storms tells the story of the extraordinary engineer whose failed projects led to ultimate success in the US' greatest accomplishment.
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![Fireside Reading]()
21 Dec, 2023Fireside Reading
I hope you have a wonderful holiday season, with ample time to enjoy some good books next to a crackling fire. I have an even-dozen to recommend. Best wishes to ...
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![Year End Newsletter 2023]()
6 Dec, 2023Year End Newsletter 2023
We would like to share some time-sensitive information as well as various planning strategies with you as we wrap up 2023.
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