Newsletter

Gold reserves on the rise. Miners see wide margins. Silver jumps to a new ATH. The average investor underperforms bonds. Get 5% yield in Japan.

AI spending is low. The world is going off the US$. Retail drives US stock trading. China sees a decline in investments. Japan is stuck between a rock and a hard place.

Commodities appear cheap again. Japan’s gov’t bond yield shoots up. Investors don’t sit on much dry powder. EVs are just 4% of cars on the road. AI now creates more content than humans.

China is more indebted than the US. The US middle class is shrinking. US housing is becoming increasingly unaffordable. The most hated rally ever?. Gold has rebounded.

60% of stock markets have reached ATH. High market concentration has been bad. Emerging markets benefit from a weak US$. Oracle’s default risk surges. High-investment companies underperform.

Time is money. Just 3% of stocks generate wealth. 8% of S&P 500 accounts for 47% of the market cap. Shorter lifespans for S&P 500 companies. Most investors still shun gold.

The Internet broke. Gold sees record price fall. Institutional gold demand to remain strong. Fundamentally driven return of Mag 7. Tough times for active managers.

Recession risk remains low. Gold sets new ATH. The gold trade is getting crowded (or is it?). Debt service surpasses US defense. No rare-earths = no defense.

AI drives US GDP. Fund managers say the US is overvalued. The AI bubble explained. Gold surpasses US$4,000/oz t. Remember, gold stores value.

Global debt hits a new ATH. Gold hits new ATH. Silver nearing ATH. NVIDIA market cap surpasses US$4.5trn. There are more PE funds than Micky Ds.