Why subscribe?
Brent Johnson is the independent voice behind Santiago Capital, a registered investment advisor dedicated to helping investors navigate the complexities of global finance by offering customized solutions to each client. With 25 years of experience in the financial markets, Brent’s work blends deep expertise with a passion for uncovering macroeconomic trends and practical strategies.
After a long career with prominent firms like Credit Suisse and BakerAvenue, Brent founded Santiago Capital to operate on his own terms, free from corporate mandates, and rooted in his principles of integrity, independent thinking, and hard work.
Known as the originator of the “Dollar Milkshake Theory,” Brent provides thought-provoking insights on currencies, precious metals, and macroeconomics. His ideas have been featured in leading financial outlets, and he frequently speaks at conferences and media events.
Based in San Juan, Puerto Rico, Brent continues to serve a global readership of investors who value his unique perspective on today’s economic challenges. For more information, visit Santiago Capital or engage directly with Brent through his public interviews and speaking engagements.
FAQ
What’s the Price of Santiago Capital Research and What Do I Get for It?
Santiago Capital has a free tier and two paid membership tiers. A Premium tier ($399/yr) and a Pro tier geared towards investors and industry professionals ($2,399/yr).
Want some of that excitement in your inbox? Here are the options:
Santiago Capital Free ($0). Access to article previews, the full podcast video archive, and one free article per week starting now. The entry point to Brent’s macro thesis viewed through the Dollar Milkshake Theory framework.
Santiago Capital Premium ($399/year). Full access to every published research article and podcast episode, plus the complete archive going back to launch. 3-4 articles per month covering the intersection of capital markets, geopolitics, and the madness of crowds, viewed through the framework of the Dollar Milkshake Theory. You’ll also get the Sunday Macro Pilgrim’s Ledger… Brent’s weekly market-state diagnostic that gives you everything you need to get your head in the game for the week ahead. For the best reading and listening experience, download the Substack app… every post is available with audio playback built in.
Santiago Capital Pro ($2,399/year). For investors and industry professionals who want the full body of Santiago Capital’s research plus direct access to Brent.
Pro adds:
Two Pro-tier deep-dive reports per month. Institutional-grade research on the structural shifts driving global markets, including quarterly named launches like Empire By Code (October 2025).
Two monthly live Q&A sessions, hosted on YouTube and embedded in Pro-only Substack posts. Submit questions in the post comments. Replays persist on the same page, so live attendance is optional.
Think, Laugh, Cry. Biweekly market commentary in Brent’s signature voice.
How do I upgrade from Free to Paid or a Pro account?
Whether you are a free reader wishing to get paid access, or a Premium subscriber looking to join the Pro Tier, sign in to your account on Substack and follow the instructions found here.
How do I change the email address associated with my account?
Keeping your email address up-to-date is easy, but unfortunately, we cannot change it for you directly. To change your account, follow the instructions found here.
Can I buy a subscription for someone else?
What a generous and wise friend you are! Yes, you absolutely can send a gift subscription using the sign-up page found here. (You can send a gift to anyone with an email address—local politicians and misguided college students included.)
How do I cancel my subscription?
To cancel a subscription (or turn-off auto-renew), you can do so in Settings by following the instructions found here.
Our company/team/family would like to subscribe to Santiago Capital Research as a group. Do you offer a group rate?
Indeed, we do! Each subscription is intended for one individual, so if you have a flock of interested readers, a group program is right up your alley. The group rate is 25% off list price for a minimum of 4+ seats. Please note, that this is for our Premium annual offering only. Group access for our Premium subscription level can be found here.
Disclaimer: Nothing produced under the Santiago Capital brand should be construed as investment advice. Do your own research.
