Special Message to Readers

To Readers,

I’ve been writing The Credit Strategist for more than 20 years.  It started as a monthly report my hedge fund investors and morphed into a newsletter widely read by people on Wall Street and around the world.  The publication helped me communicate with investors and grow my money management business.  But even more importantly, it helped me organize my thoughts about financial markets and learn about many aspects of business and politics.

The Credit Strategist has always provided truly independent commentary and analysis regardless of the consequences.  Sometimes that has upset people. While that is not my intention, I often tell my readers, that my job is to challenge them and if that means I sometimes offend or upset them then that comes with the territory.  As the great poet William Blake wrote, “Opposition is true friendship.  I see my obligation as telling people things that the government, Wall Street and the media don’t want them to hear.  It is even more important today than 20 years ago to fight through the flood of nonsense spewed out by social and mainstream media and try to figure out what is really going on.  That is why platforms like Substack and publications like The Credit Strategist need everybody’s support.

I have been active in the financial markets for more than 35 years.  I bring that experience to this publication.  It takes a great deal of time to produce this content because it requires extensive research before putting pen to paper.  It also requires an extensive background in economics, finance, history, philosophy and other disciplines not normally found in the financial world.  I was fortunate early in my life to study with some of the greatest minds in those fields.  I bring what they taught me to my work.  I consider it a privilege to be able to share what I’ve learned with my readers and am grateful that so many people are interested in what I have to say.

We have no advertisers to cover our costs.  Our only source of revenue is subscribers. I spend no time marketing the newsletter.  I joined Substack in late 2021 because I was very impressed with Substack’s platform as well as its ability to provide a place where independent voices can be heard without interference.

One of the things I pride myself on the most about The Credit Strategist is that it pays for itself.  I have two goals when I write the newsletter:  (1) help people make money and perhaps even more important (2) help people avoid losing money.   The market views expressed in the newsletter are worth far more than the price of a subscription.  Whether warning that a particular stock or bond is overpriced or that an asset class is attractively priced, we try to provide readers with a well-reasoned and well-researched basis for protecting and growing their capital.  If the newsletter doesn’t pay for itself very quickly, readers can always ask for a refund.  Very few ever have.

We are working with Substack to offer discounts for new subscribers.  I hope you will consider joining the many people who have been reading The Credit Strategist for over two decades and given me the opportunity to increase my market knowledge and share it with them.  It would be an honor to have you join our community.

Sincerely,

Michael Lewitt