| Dear Reader, I’d planned to wait a while before making our first big push for this year’s Strategic Investment Conference (SIC). However, given the cracks we’ve been seeing in the system in recent weeks, it seems an early opening makes good sense. As I write this, three major banks have now collapsed after a run on deposits—Silvergate Bank, Silicon Valley Bank, and Signature Bank. I’m not predicting we’ll see another version of the 2008 crash, but I can tell you these won’t be the last of the proverbial dominoes to fall. This raises a host of new questions to ponder. What will be the next domino? What industries will be most affected? How will these ripple effects impact us in our everyday lives and in our portfolios? Even more importantly, what can we do to prepare for the risks today and position ourselves for opportunity? Given the uncertainty, I’ve never been more eager to consult the SIC faculty for their timely insights and expert guidance than I am this year. We’ve already booked over 30 top-line speakers and several other discussions with more experts in the works. Among those, we’re excited to announce that Howard Marks, legendary investor and co-chairman of Oaktree Capital Management, will be joining us again this year at SIC 2023. After four decades at the highest levels of investment management, Howard spoke to the importance of thinking the unthinkable (which he labels “second-level thinking”) in his book, The Most Important Thing: Uncommon Sense for the Thoughtful Investor. In his words [emphasis mine]: “Remember, your goal in investing isn’t to earn average returns; you want to do better than average. Thus your thinking has to be better than that of others — both more powerful and at a higher level. Since others may be smart, well-informed and highly computerized, you must find an edge they don’t have. You must think of something they haven’t thought of, see things they miss, or bring insight they don’t possess. You have to react differently and behave differently. In short, being right may be a necessary condition for investment success, but it won’t be sufficient. You must be more right than others… which by definition means your thinking has to be different.” All the solo presentations, panel discussions, and fireside chats this year will work toward this goal—helping you be “more right than others” by thinking differently. To that end, we’re also excited to welcome back Danielle DiMartino Booth, founder and CEO of Quill Intelligence. After serving a decade as a former Fed insider, Danielle has keen insights into the inner workings of the Federal Reserve that most aren’t privy to. When she speaks on the Fed’s thinking, savvy investors should pay attention. When you preorder your SIC virtual pass today, you’ll save 44% off the retail price. Click here to reserve your virtual pass now. Again, we’ll be holding the conference on alternating days between Monday, May 1 and Wednesday, May 10, this year. So be sure to mark your calendars for May 1, 3, 5, 8, and 10. If you’re not able to join us live or you have prior commitments, I’d still encourage you to participate. We’ll have recordings and transcripts for you to review at your convenience after the conference. Regardless, you won’t want to miss the timely advice we’ll be hearing from our esteemed speakers. The stakes are higher than ever this year. Let’s position ourselves for safety and opportunity together. Click here to preorder your SIC 2023 virtual pass now. Your preparing for challenges and positioning for opportunities analyst, 
John Mauldin
Co-Founder, Mauldin Economics | 