“If you are relying on passive index investing, you might miss the biggest trends of 2025.”
—Ed D’Agostino
Investing for a New Era
Macro themes are reshaping the future—position yourself for tomorrow’s biggest opportunities.
For years “experts” said to buy the index, sit back, and let the gains roll in…
But today, top analysts at Apollo, JP Morgan, and Goldman Sachs all see dismal returns ahead.
Goldman’s outlook is blunt: “We estimate the S&P 500 will deliver an annualized nominal total return of 3% during the next 10 years and roughly 1% on a real basis.”
If 3% doesn’t cut it for you, you’re not alone…
Index investing is quietly shifting—from wealth builder to wealth inhibitor.
—NosebleedValuations
Record-high prices mean every dollar in the S&P 500 carries more risk than reward.
—Economic Reset
Aging demographics and sluggish growth mean lower returns are the new normal. This isn’t a downturn—it’s a reset.
—Market Concentration
Nearly 40% of the S&P 500 is comprised of a few tech giants, putting the entire index at risk if even one stumbles. Nvidia alone contributed 5% of the index’s returns in 2024.
Last year, out of 2,700 stocks in the U.S. market, 1,000 stocks were down, even in a supposed “bull” market.
The choice is yours—settle for shrinking returns and rising risks, or align with the macro forces shaping tomorrow’s markets?
Welcome to Macro Advantage
Our mission is clear: investing in tomorrow’s opportunities before they are obvious to others by aligning with powerful, multiyear themes driving economic change.
It’s about:
Uncovering the forces that will define tomorrow’s markets;
Identifying companies positioned to thrive;
Building a resilient portfolio ready to weather sticky inflation, economic shifts, geopolitical shocks, and higher interest rates.
In markets where some stocks soar while others stall, Macro Advantage unearths opportunities to keep you on the right side of change.
Here’s what you get:
Themes Shaping Tomorrow
A clear understanding of the powerful themes set to shape tomorrow’s economy. Developments in quantum computing, the re-industrialization of America, automation, and more inform our investment themes. Every issue of Macro Advantage prepares you to invest in the companies leading these changes—often before they’re well known.
Focused, High-Conviction Investments
We identify companies poised to dominate or upend their sectors.
Timely Alerts and a Model Portfolio
A portfolio of well-researched positions, with timely alerts and clear guidance on each move—keeping you aligned with macro trends.
Premier Access to a World-Class Rolodex
Tap into Ed D’Agostino and John Mauldin’s exclusive circle of top geopolitical strategists, portfolio managers, economists, intelligence experts, and prolific thought leaders. These conversations—usually off-limits to the general public—inform our strategies and equip you with insights to navigate a rapidly changing global landscape.
Macro Advantage Community
Connect with a network of macro-focused investors—accessible on any device. Share insights, refine strategies, and grow with macro-minded peers.
Our Results
We’ve leveraged our Electrification & Infrastructure Theme to identify companies with unique potential in AI-driven data centers, quantum technology, and renewable energy.
After recommending a leader in American rare earth materials—key to reducing reliance on foreign supply chains—we saw a 29% gain in just over a month.
Through our American Resiliency Theme, we took profits in an industrial real estate trust well-placed to benefit from reshoring. As demand for logistics and warehousing surged, we saw double-digit returns within four months.
Our Multi-Polar World Theme helps us identify select opportunities outside the US, though we are admittedly US-biased when building our portfolio.
To summarize: our thematic approach to investing informs our worldview, which leads us to stocks that should benefit from a rapidly changing world.
Where Index Strategies Fall Short,
Macro Advantage Goes Further…
Macro-Minded
For those ready to move beyond passive index investing and harness powerful, long-term macro trends.
Commmunity Seekers
Invest alongside a tribe of macro-minded folks who thrive on big, transformative opportunities.
The Mauldin Economics Network
Our views are informed by our prolific network, bringing you investment perspectives you won’t find anywhere else.
Guidance Every Step of the Way
Navigate every shift with support from a dedicated team focused on long-term success, through every market cycle.
Investing With and Without Macro Advantage:
WITHOUT MACRO ADVANTAGE
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Index Investing: With index investing, you buy both the good and bad stocks, and you have outsized exposure to a handful of the most highly (perhaps “over”) valued stocks in the world.
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Lack of Focus: Broad index funds give you diversity, but that can work against you—a portion of your portfolio should have exposure to the investment themes of tomorrow.
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Overwhelmed: Constant market noise makes it easy to second-guess your choices. But with every stock grounded in the biggest macro themes shaping the future, you’ll know how each position is part of a larger, well-reasoned strategy.
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No Edge: Without the benefit of focused themes, you’re left with the noise of financial media and all their incentives to talk about the flavor of the day, which may or may not be in your best interest.
WITH MACRO ADVANTAGE
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Positioned for the Inevitable: Ready to capture the impact of dominant themes shaping tomorrow’s market.
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Ahead of the Curve: Supported by a team and network, keeping you aligned with timely, macro-driven themes that help you understand the “why” behind your portfolio.
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Clarity and Confidence: Detailed alerts with simple explanations provide you with a roadmap to help you thrive in a volatile world.
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Strategic Edge: We deliver investment ideas along with a framework that makes each theme real, explaining why it matters, how it’s evolving, where it’s leading, and how to invest—giving you a perspective that grounds your decisions and keeps you ahead in a fast-changing world.
Who’s a Good Fit for Macro Advantage?
Macro Advantage is FOR you if:
You’re an independent investor ready to profit from the macro forces shaping markets.
You want a resilient portfolio designed to withstand economic shocks, geopolitical risks, and inflation.
You value timely, actionable insights and analysis to inform your investment decisions.
You see the value in investing around transformative themes.
Macro Advantage is NOT for you if:
You prefer a passive, low-return “set it and forget it”
You’re content with the projected 3% annual returns from index investing.
You’re okay missing out on the macro trends driving future markets.
You’re focused on quick gains instead of a long-term strategy.
What to Expect
Up to 15
Positions in the
Macro Advantage Portfolio
When fully invested, we’ll have up to 15 positions tied to our themes. We are opportunistic and take profits when we feel a position has reached its potential. We are not afraid to go to cash when we feel the risk outweighs the reward.
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Macro Themes
Powerful, multiyear themes drive lasting growth, capturing major shifts across industries. Rare opportunities to align your portfolio with the forces shaping tomorrow’s economy— before they reach the mainstream.
What’s Our Edge?
Our strength lies in the power of collaboration.
Our team brings unique expertise to the table:
Ed D’Agostino, an original member and principal of Mauldin Economics, co-host of our annual Strategic Investment Conference, host of the Global Macro Update podcast, and our COO, directs our macro research and develops our themes.
David Lutomski, a CFA, drives our equity research.
Kevin Brekke, Mauldin Economics’ long-time managing editor and global investor, serves as our resident contrarian.
And Ann Pringle, a former attorney and current wordsmith, streamlines our communications.
Praise for Macro Advantage
This is a really exciting culmination of what I’ve been wanting for a very long time. Great job, Ed.” —John Mauldin, Founder, Mauldin Economics
Excellent… You have done a real service here.” —Chris
Ed, from my perspective, you guys are doing it right. Not chasing the latest fads but being thematic and looking at risk as well as reward long term. I’m glad to have you and the Mauldin team as a part of my investment universe. Outstanding portfolio.” —Harold
Ed, since I have moved my core investments following your advice and Yield Shark’s, my portfolio has been more steady, with an upward bias. I am also more calm.” —Edward
I thought the reports were just right. Looking forward to more. Also, the stock write-ups are clear.” —David
Keep it up! Making the right moves at the right time is critical.” —Russell
What a pleasure to invest with Mauldin / D'Agostino. I've been reading Mauldin's work, and learning from him, for a very long time. I learned the very hard way how to filter the many advisors crowding my in box. Over those decades I've made many mistakes. And from those mistakes I learned who to trust. I finally have real peace of mind. Thank you Mauldin / D'Agostino team.” —Joseph
The Macro Advantage Guarantee
We want you to feel fully confident about joining us.
If you subscribe to the annual membership, you’re covered by our 90–day money-back guarantee. If, for any reason, you’re not completely satisfied within the first 90 days, simply contact our customer service team, and we’ll promptly refund your payment—no questions asked.
Please note, the 90-day money-back guarantee does not apply to the quarterly subscription. However, if after the first quarter you’re dissatisfied, you may reach out to our customer service team and let them know you would not like to renew your quarterly subscription.
Here’s everything you get:
Monthly Issues of Macro Advantage
Regular, mid-month Updates
Special Alerts on Key Market Moves
Theme-Specific Research Reports
Membership to our online discussion platform and mobile app
FAQ
Click on the questions below to expand and read the answers.
Yes. Our goal is to get you quickly up to speed on the fundamentals of macro investing. From there, we’ll walk you through our investing framework and give you the tools to make better sense of the world and the massive trends shaping the markets. It’s important to remember this is not a “get rich quick”-style service. It is a 6- to 18-month horizon approach to investing with an eye towards long-term wealth creation.
100%. It’s all there waiting for you. Every theme report we’ve published. Every company write-up. Every update, strategy, and macro insight. We’re not holding anything back. That way, you can go through all the resources at your own pace and keep moving forward in your investing journey.
Yes. You can buy all of our recommendations in any major brokerage account.
We want you to be 100% happy and confident about your decision. If you purchase an annual subscription to Macro Advantage, your membership comes with a 90-Day, 100% Satisfaction Guarantee.
Read the reports. Vet our research and conclusions. Examine our analysis and recommendations. Then, if for any reason you’re not completely satisfied with your membership, just contact our friendly customer service team within the first 90 days. They’ll give you a prompt and courteous refund on your annual subscription.
Please note, the 90-day money-back guarantee does not apply to the quarterly subscription. However, if after the first quarter you’re dissatisfied, you may reach out to our customer service team and let them know you would not like to renew your quarterly subscription.
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