May 18, 2026
Founding Partner · Tactical Management
Dr. Raphael Nagel (LL.M.)
Most people talk. Some write.
Very few allocate capital, and live with the consequences.
Founding Partner · Tactical Management
Most people talk. Some write.
Very few allocate capital, and live with the consequences.
Executive Assistant:+49 711 8494 1052
Editor's pick
May 18, 2026
What Europe Must Learn from the American Water Rights Market
An essayistic reflection by Dr. Raphael Nagel (LL.M.) on prior appropriation, water banks, and the Colorado River revision of 2026, drawing lessons Europe...
Read the essay →Recent essays
All essays →May 18, 2026
Pipeline Instead of Hope: The Sales System as Company Value
May 18, 2026
Responsibility and Power: Who Steers the Complex Society?
May 18, 2026
Robot-as-a-Service: How a Capital Model Reshapes the Security Economy
May 18, 2026
The Future of the Petrodollar Order: Yuan, BRICS and the Slow Erosion
May 18, 2026
Nord Stream 2: The Costliest Energy Mistake in Postwar German History
Five blocks
30+ books
All books →capital
Kapital
Markets, mandates, value creation.
leadership
Haltung
Posture, authority, leadership.
geopolitics
Pipelines
Energy, sovereignty, trade.
technology
Algorithmus
AI liability and the new code of law.
capital
Execute
From plan to operating cadence.
security
Der unsichtbare Krieg
Sanctions, cyber, dual-use, the architecture of grey conflict.
About
An investor who writes, because capital is also an argument.
Dr. Raphael Nagel (LL.M.) is Founding Partner at Tactical Management, a private investment firm focused on operational carve-outs, succession capital for the European Mittelstand, and sovereign-grade infrastructure across security, energy, and AI.
More than 30 published books, in German, English, and Spanish, anchor a body of public writing that runs from market microstructure to AI liability to the geopolitics of pipelines. The essays here continue that record in long form.
He writes from Madrid and the field, with the bias of a practitioner.