Newsletter

US retail sales are weak. Foreigners hold less US debt. A house might not be the investment it once was. India to add a lot of coal power. Asia is big in important metals.

Fed keeps rate unchanged. Invest like the US Congress. India appears pretty expensive. The Canadian real estate bubble. Flying is back.

Bond/Gold ratio signals global financial weakness. Nvidia gains US$1trn+ and overtakes Apple. China dumps US Treasuries for Gold. Buffett likes US Treasuries, though. US$9trn of US gov’t debt maturing soon.

Tough times for small US businesses. Asset managers don’t expect a recession. China drives copper demand. Oil and gas are here to stay. Nvidia dominates the data center compute market.

US gov’t debt service to exceed S&P profits in 2025. Gold hits another ATH. 70%+ investment advisors allocate <1% to gold. Nvidia hits US$2.5trn market cap. Real ESG progress in the US.

China replaces UST with gold. Meme stonks redux. Electricity inflation is the highest in 40 years. US small cap debt coming due. Magical PE vol.

0% return over the next 10 years. Berkshire Hathaway got US$189bn in cash. US is no.1 in oil. Risk of an RMB devaluation is real. Gang crime threatens the Swedish economy.

Only one cut by the Fed in 2024. 60/40 is not as safe as you may think. US accounts for 25% of global GDP. Replace nuclear with coal. The copper opportunity.

Bonds only diversify under low inflation. Japanese earnings almost 2x the US. The MMT inflation train. Central banks load up on gold. AI demands power.

The bond trade hasn’t played out. S&P 500 is down in terms of gold. Manager allocates 70% of its AUM to cash. Bitcoin is 3x-levered NASDAQ. Fast food outpaces inflation.