Brent Johnson

Brent Johnson

Formal First Name

Brent Johnson is the CEO and Portfolio Manager at Santiago Capital, a wealth management firm focused on creating and implementing customized asset and portfolio allocation strategies. At Santiago Capital, he manages $175 million for high net worth families via separately-managed accounts and private funds. Johnson has over 20 years of experience in the financial markets. He incorporates his expertise in currency markets, precious metals markets, and sovereign bonds markets in designing an overall asset allocation portfolio strategy. He is also known for his "Dollar Milkshake Theory," a financial concept that has garnered attention for its unconventional take on the future of the U.S. dollar in global markets. Previously, he served as a Managing Director at BakerAvenue Asset Management, a multi-billion dollar asset manager and wealth management firm, where he also served as the lead advisor for several of the firm's largest clients.

Professional Experience


  • Johnson works with high net worth clients, crafting and implementing customized tactical asset and portfolio allocation strategies. 

  • His clients include Fortune 500 executives, wealthy families, and technology sector entrepreneurs.

  • As a wealth manager, he has extensive experience in equity block trades, 10b5-1 restricted stock plans, private placements, and venture capital stock distributions. 


  • His Dollar Milkshake Theory predicts a reinforced US dollar drawing in global capital before facing a massive decline, potentially leading to a global economic shift towards stable assets like gold or Bitcoin.

  • This theory, rooted in contrasting central bank policies, stirs considerable debate and suggests a multilayered impact on various assets.

  • The theory pivots on two contrasting central banking strategies: expansive liquidity provision by global central banks and the US Federal Reserve's tighter monetary policies. 

  • His theory suggests the dollar will strengthen as it becomes a global financial sanctuary. This provocative theory has ignited heated debates within economic forums.

  • It stands as a speculative yet critical lens to examine the evolving financial landscape.


  • He had a successful and lengthy career working with private clients at Credit Suisse as its Vice President.

  • Johnson started his financial career as part of the training program at Donaldson, Lufkin & Jenrette in New York prior to moving to San Francisco

  • He performed audits at Philip Morris Management's headquarters as well as subsidiaries in Germany, Hong Kong, and Richmond, Virginia.

  • He was a Managing Director at BakerAvenue, where he served as the lead advisor for several of the firm's largest clients.


  • He regularly gives interviews and speaks at conferences regarding precious metals, currency markets, and macroeconomic trends.

  • His work is often featured throughout the blogosphere, including ZeroHedge.

  • His views have been quoted in numerous print, online, and television outlets.

  • He has appeared as a guest on Real Vision and 2021 Real Vision Festival of Learning.