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The AI capex trade now runs through copper and Caterpillar — Horizon Investments CIO
6 insights: the flywheel he says pulls builders, utilities and water into the AI trade, the copper price he reads as a proxy for it, and why he is not…
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Aurelion co-founder: gold gets to $5K an ounce, and oil does not go above $120
9 calls: why he sold his miners in January and is buying them back, the two ways he owns uranium, and the photonics supplier that told him copper is a…
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Joe Overdevest: 85% of Canadian goods still enter the US tariff-free
10 insights: Why Canada is beating the S&P 500, the capital its banks have just been allowed to release, and the state whose pause on data centers he…
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Kathleen Quirk: Freeport can raise US copper output 60% and it still isn't enough
5 calls: the brownfield expansions that take 3-4 years instead of 17, why she says substitution does not work, and the ten new mines a year the market…
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Jean-François Tardif: gold beats copper, and he's short banks, chips and the S&P 500
11 takeaways: Why he thinks AI spending peaks near $1.7T, the sub-$300M gold stock he bought on other analysts' homework, and the three cheap growers he…
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Mike McGlone: gold has become a stock puppet, and he would sell into it
9 takeaways: why he calls Trump's $5,000 midterm pledge a sign of desperation, the 2008 playbook he expects oil to repeat, and the "accident waiting to…
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Facts vs Feelings: markets now price Fed hike odds over a cut
9 takeaways: why the jobless rate's record streak is real, what's quietly skewing wage growth, and how markets are now pricing Fed hike odds over a cut
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Brett Heath: central banks now hold more gold than Treasuries, for the first time ever
11 takeaways: Why hedge funds now set the price of US debt, his $4,000 floor for gold, and why he says copper — not chips — is AI's real bottleneck
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Bob Elliott: the Fed is all hat and no cattle, so the market penalizes it in longer-dated yields | Bloomberg Surveillance
Why he watches gold rather than the 30-year for Fed credibility, what 25% priced earnings growth does to the case for stocks, and the consumer softness…
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Tom Nelson: a good diversifier should occasionally disappoint clients, and boring works | The Disciplined Investor
Franklin Templeton's head of asset allocation on why owning a lot of things is not diversification, plus Andrew Horowitz on Operation Twisted, the gold…
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Nvidia beats and the shares move 7%: Merryn Somerset Webb and John Stepek on where their AI skepticism sits, the commodity rotation, and…
Recorded at Adam Smith's last home 250 years after The Wealth of Nations: Nvidia's price rises feeding inflation, the debt under the hyperscalers…
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Matthew Hill: Zambia's 10-year yields fell over 100 basis points on Hichilema's 61% win, the kwacha has slid five days running, and a…
The debt restructuring and copper investment behind his record, a Wits researcher on the gap between the presidential and parliamentary tallies, and an…
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