Stay Up to Date with the financial Markets.
2 Gray Beards empowers you with reliable and insightful financial information, ensuring that you engage confidently and decisively with your financial advisors. Our comprehensive resources and expert analysis make it easy for you to understand your finances, all of this in just 20 minutes or less.
Choose Your
Membership
- Weekly video — macro background & reasoning
- Long only, equities 20–80% allocation range
- No leverage
- Minimal use of options strategies
- Market timing
- Email updates
- Curated research from top investment houses
- Weekly broker statement & Excel — % allocations & performance
- Weekly video — macro background & reasoning
- Long only, no min/max allocation constraints
- Up to 2.5× leverage on total portfolio when appropriate
- Advanced options strategies
- Market timing
- Bulletin board — orders, commentary & email updates
- Curated research from top investment houses
- Your questions answered directly
- Weekly broker statement & Excel — % allocations & performance
- Everything in Original
- Everything in Squared
- Complete access to both active portfolios
THE PRINCIPALS
Who Are The Two Gray Beards?
Together, 2 Gray Beards bring over 75 years of market experience — investing and trading through every regime the market has manufactured. They have gray beards to show for it. If you manage an equity and bond portfolio, they will show you how they think about markets, and exactly why and when they act.
Co-Host & Founder of Damped Spring Advisors
Andy Constan
Andy graduated with a degree in Bioengineering from the University of Pennsylvania in 1986. He spent 35 years investing and trading global equities — 17 of them at Salomon Brothers. In 2010 he moved to Bridgewater Associates and then Brevan Howard to sharpen his macro thinking. He founded Damped Spring Advisors to bring that framework directly to serious investors.
Co-Host & Founder of Charity Hedge Fund
Nick Givanovic
Nick graduated with a degree in Economics from Cambridge in 1983. He traded bonds at J.P. Morgan and Salomon Brothers before founding his own hedge fund in 1993. He retired from managing institutional money in 2000. Since then he has been investing, trading, and protecting his own capital — from the Bahamas.
Who This Is For
You Have a Broker. You Have Questions. We Help You Ask the Right Ones.
Your account sits in the high six to low seven figures. By almost any measure, that means you're too small to get your broker's real attention — but too large to ignore the cost of mediocre advice.
You're paying for a service, but you're not seeing the results. Your portfolio underperforms in good markets and doesn't protect you in bad ones. Your broker calls when they have something to sell, not when you need to hear something you don't want to. That's not a second opinion — that's a sales relationship.
You don't want to trade every day. You don't need to be in every move. But you do want to understand what's happening in markets, why your money is positioned the way it is, and whether your advisor's decisions make sense given the current environment. You want to be taken seriously. You deserve to be.
What We Do Each Week
Twenty Minutes. No Filler. Specific Enough to Act On.
Every week Andy and Nick cover five questions — the same five, every time, because these are the ones that actually matter. All of it ends with specific portfolio levels published to IBRK, so you can track real performance in real time.
What happened in markets last week, and did anything change how we think about asset allocation?
Are we making any changes to the portfolio — and if so, exactly why?
What are the key risks and opportunities we're watching in the week ahead?
Do we see any directional alpha opportunities worth sizing into right now?
Should we be using options to generate return or reduce volatility — and if so, how?
We are not your financial advisor. Our goal is to make you a better client of the one you have — so that you can ask harder questions, understand the answers, and stop leaving money on the table.
