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Donald Luskin
Chief Investment Officer

Don's 30-year career as an entrepreneur, executive, investment manager and commentator has been built around his passion for the application of technology and innovation to the challenge of investing.

Prior to founding Trend Macrolytics, Don was vice chairman and co-chief investment officer of Barclays Global Investors. After a decade building Wells Fargo Investment Advisors into the world's largest and most innovative investment manager -- where indexing, tactical asset allocation and quant-active investing were invented and popularized -- Don was a member of the three-man management team that sold the firm to Barclays Bank PLC in 1995. The firm was acquired by Blackrock in 2009.

At Barclays, Don invented and patented target-date mutual funds, which have since become a standard for retirement investment. After Barclays, Don was CEO and co-founder of, and manager of the pathbreaking OpenFund -- the world's first "interactive mutual fund," that showed all its holdings and trading activity in real-time on the Internet.

Don was the inventor of the POSIT ECN, and founder of Investment Technology Group at Jefferies & Company. He has been a hedge fund manager and an options market maker on the Chicago Board Options Exchange, the Pacific Stock Exchange, and the New York Stock Exchange.

Don appears regularly on CNBC. He contributes frequently to the op-ed page of Wall Street Journal.

He is the author of I am John Galt and  Index Options and Futures: The Complete Guide, and editor of Portfolio Insurance: The Guide to Dynamic Hedging, all published by Wiley.

His articles and commentaries have been published in Reason, the Harvard Business Review, National Review, Pensions & Investments, Townhall, the American Spectator, the San Jose Mercury News and the Detroit News. He was formerly a columnist for and Business 2.0 (now Fast Company), and



Thomas Demas
Managing Director

As client service and marketing point of contact, Tom brings to bear a keen understanding of market-based, supply-side economics and the connection between politics and markets -- as well as a flair for client communications.

Tom was institutional sales manager at Polyconomics, the economics research firm headed by Jude Wanniski. His institutional experience ranges from representing macroeconomics research firms such as H.C. Wainwright Economics, and 13D Research to securities analysts such as GARP Research, Calvert Crary and Farmhouse Equity Research.

As an institutional salesman for both Rochdale Securities and Capital Institutional Services, Tom was involved exclusively in independent research, bringing together the best and brightest on Wall Street with their counterparts in the firms he has represented. Communicating with top decision-makers, Tom has served as the information distribution nexus for timely and need-to-know analysis.

Tom is a graduate of St. Lawrence University with a BA in economics.

Dr. Michael Warren
Energy Strategist

Based in Houston, Mike brings unique and deeply sourced insights into the business, technology and politics of the global energy markets.

Mike was formerly Senior Vice President at Hart Energy, running the upstream research group. He led development of Hart's North American Shale Quarterly, the Workbench, and the Oil & Gas Service Platform,  all field-level tactical intelligence tools that help professionals in the oil patch make critical decisions.

Previously he was National Manager in charge of Latin American research at Toyota, representing the global automaker at the National Petroleum Council in Washington, DC. He was Latin American strategist at Polyconomics, the economics research firm headed by Jude Wanniski.

He earned his Ph.D. in Latin American political economy at Tulane.

He served in the US Army in military intelligence, called to active duty during the Bosnia conflict and post-9/11.

Copyright 2001 through 2015 Trend Macrolytics, LLC. All rights reserved. For information purposes only, offered as a periodical of general circulation; not to be deemed to be recommendations for buying or selling specific securities or to constitute personalized investment advice. Derived from sources deemed to be reliable, but no warranty is made as to accuracy. Trend Macrolytics, TrendMacro and the stylized triangle symbol are trademarks of Trend Macrolytics, LLC.
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