Horizon Kinetics

Horizon Kinetics, founded in 1994 and headed by Murray Stahl, consists of ten investment analysts responsible for seven distinct research services.

From 1978 to 1994, Murray worked as a portfolio manager and analyst at Bankers Trust Company managing approximately $600 million of individual, trust and institutional client assets. As the senior fund manager, he directed the investments of three of the bank's Common Trust Funds: the Special Opportunity, Utility, and Tangible Assets Funds. He served as a member of the Equity Strategy Group as well as the Investment Strategy Group, which established asset allocation guidelines for the Private Bank and was deeply involved in new product development. Mr. Stahl holds a BA in Computer Science and an MA in Asian History from Brooklyn College, City University of New York, and an MBA from Pace University.

Horizon Kinetics' philosophy derives from the belief that a short-term investment approach, widely adopted with the modernization of financial markets, produces sub-optimal returns over the long-term. Horizon believes that investors are better served by extending their investment time horizon and harnessing the power of compounding. The investment strategies are driven by independent, fundamental research and often take contrarian views that seek to take advantage of the short-term focus of the marketplace.  

Cryptocurrency Research

Over the past two years, through the continuous publication of investment research on cryptocurrencies, Murray Stahl has established himself as one of the most credible authorities in this emerging area. Despite the recent mania surrounding Bitcoin, blockchain technologies, and other crypto-related topics, most investors are largely uninformed on the investment merits of this space. This environment has provided an opportunity to counteract the widespread misinformation on this topic, by providing a webpage dedicated to Murray Stahl’s unique perspective.