Welcome to Santiago Capital's Substack

A Brand New Service from Santiago Capital

Dear Readers,

Welcome to Santiago Capital Research.

This is the home for Brent Johnson’s macro research, where we cover the dynamic interplay between global capital markets, geopolitics, and the madness of crowds, all analyzed through the lens of the Dollar Milkshake Theory. The work focuses on timely, actionable insights on market events, a Realpolitik view of international relations, and a clear understanding of how the monetary system is designed and how it actually functions.

You can expect 3 to 4 in-depth articles per month, the Sunday Macro Pilgrim’s Ledger weekly diagnostic, and Pro-tier deep-dive research for serious macro investors.

The motivation for this publication is threefold:

Responding to demand. Over the years, Brent has received countless requests to create a written resource that distills the insights he has shared through interviews, podcasts, and conferences. Santiago Capital Research is the answer to those requests.

Reaching more investors. Many readers have sought guidance but do not meet the accredited-investor criteria required for Santiago Capital’s wealth management services. This publication provides valuable insights to a broader audience.

Simplifying the complex. Financial research is too often unnecessarily dense and inaccessible, turning away those who might otherwise be captivated by the subject. Santiago Capital Research changes that by making the world of global macro approachable and engaging.

Thank you for being here. Questions, feedback, or anything else, reach out at contact@ghl.santiagocapital.com.

Best regards,
Brent Johnson