Avsnitt
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Moritz Seibert and Moritz Heiden of Takahe Capital dive deep into the mechanics of high-octane trend-following strategies and unpack why they target 25-30% annualized volatility, bucking the institutional trend of lower volatility to capture massive outlier trades like the recent cocoa and gold runs. They explore the heated debate between dynamic position sizing and classic approaches, revealing why letting winners run is crucial for massive returns. The conversation also touches on the emerging world of perpetual futures on decentralized platforms and why keeping trading models simple often beats complex fundamental analysis.
Follow Moritz Seibert on X: https://x.com/moritzseibert
Follow Moritz Heiden on X: https://x.com/moritzheiden
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Apple Podcast https://bit.ly/4e7QJ1M
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X https://x.com/opmpod
Timestamps:
00:00 Intro
01:14 Do You Need Big Trends
03:21 Smooth vs Choppy Trends
05:00 Oil Curve Positioning
07:43 Model Design Not Discretion
09:24 Why Trend Funds Differ
16:02 Classic Trend Playbooks
19:04 Sizing Beats Entry
25:01 Perpetual Futures Reality
32:41 High Octane Philosophy
35:22 Letting Winners Get Huge
39:04 Why Trends End Late
41:55 Price Only vs Fundamentals
46:28 What’s Trending Now
49:57 Spreads Underperforming
52:37 When Signals Die
57:49 Simple Robust Parameters
01:00:59 Design Without Optimization
01:05:43 Diversification and Investors
01:09:32 Uniqueness and Market Mix
01:14:21 Who Buys High Vol
01:15:54 Conclusion -
In this episode of Monetary Matters, Jack Farley sits down with semiconductor analyst Ben Pouladian of BEP Research to unpack the complex hardware supply chain powering the AI revolution. Pouladian pushes back against the bear argument that the current boom is merely a dot-com bubble repeat, explaining why Nvidia's ability to generate "intelligence" differs vastly from Cisco's networking commodities. He reveals that the true bottleneck in AI deployment is no longer a GPU shortage, but rather a severe lack of energized land and the tradesmen needed to build physical data centers. The conversation also dives into Pouladian's "token dollar" thesis, exploring how the global race for maximum compute-per-watt has become a modern geopolitical space race between the U.S. and China. For investors, Pouladian breaks down his top stock picks, including his unwavering bullishness on Nvidia, Apple's vital role in consumer AI privacy, and Bloom Energy's unique solution to the data center power crunch. Whether you are an institutional investor or just curious about the future of tech, this deep dive offers a clear roadmap for navigating the massive capital expenditures driving the semiconductor super-cycle. Recorded July 8, 2026.
Follow Jack Farley on X https://x.com/JackFarley96
Follow Ben Pouladian on X https://x.com/benitoz
Ben’s Pieces on BEP Research we discussed:
“The Token Dollar”: https://bepresearch.substack.com/p/the-token-dollar
“Bloom Energy Is Actually Getting Deployed”: https://bepresearch.substack.com/p/bloom-energy-is-actually-getting
Most recent piece, which addresses recent short reports on Bloom: https://substack.com/home/post/p-206941568
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Saknas det avsnitt?
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Sean McGould, CEO and CIO of $19 billion hedge fund manager The Lighthouse Group, joins OPM to discuss navigating today's bull market by targeting diverse sources of global alpha. The conversation focuses on Japan as a new source of alpha, spurred by the country's historic corporate governance reforms, the unwinding of cross-shareholdings, and the new NISA guidelines driving unprecedented retail investment. Additionally, McGould breaks down how the AI capital expenditure arms race is shaping global equity issuance and explains why the multi-manager "pod shop" model is the true modern successor to Wall Street's legacy proprietary trading desks.
Follow Max on X: https://x.com/maxwiethe
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Apple Podcast https://bit.ly/4e7QJ1M
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X https://x.com/opmpod
Timestamps:
00:00 Japan Market Shift
01:29 Lighthouse Group
04:53 Why Hedge in Bull Runs?
10:43 Equity Issuance Signals
13:33 Capex Versus Meme Raises
16:27 AI Inside Lighthouse
18:20 Specialists vs. Generalists
19:42 AI Fuels Asia Outperformance
21:18 Japan Reforms and Nikkei
24:43 Korea Value Up Program
27:44 Fixing Incentive Imbalances
32:34 Sector Pair Trades Explained
33:56 Factor Neutrality Pitfalls
34:44 AI and Narrative Factors
41:54 Why Liquidity Means Capacity
44:34 Hidden Alpha in Regulation
50:30 Hedging Regulatory Unknowns
53:50 Peak Pod Shop Debate
57:40 Diversification and Market Liquidity -
Learn more about the Fundrise Income Fund here:
https://Fundrise.com/mm
It's no secret that the new Fed chair, Kevin Warsh, prefers the Federal Reserve to have a smaller balance sheet, perhaps a much, much smaller balance sheet. The consequences of this range from the mundane to the profound, but what is without question is that in order to reduce the Fed's balance sheet, there need to be additional tools to reduce reserve demand from the banking system.
Stanford Professor Darrell Duffie returns to Monetary Matters to explain that to safely reduce Fed assets, policymakers must first address the liability side of the ledger by drastically lowering commercial banks' high demand for reserve balances. If the Fed simply sells off assets without adjusting this structural demand, it risks losing control of interest rates and sparking extreme volatility in repo funding markets, similar to the disruptions witnessed in September 2019. To prevent such a liquidity crisis, Duffie outlines four crucial policy tools from his latest research: utilizing temporary open market operations, easing stringent liquidity regulations, implementing software-driven liquidity savings mechanisms, and tiering the interest rates paid on excess reserves. While some of these proposed banking plumbing changes are already successfully utilized by other global central banks, their adoption remains highly debated within the Federal Reserve. Ultimately, integrating these innovative monetary tools could provide the necessary framework for the Fed to achieve a vastly smaller footprint in the financial markets over the coming decade. Recorded June 30, 2026.
Darrell Duffie website: https://www.darrellduffie.com/
Pieces discussed:
“The Payment System Puts a Floor on the Fed’s Balance Sheet,” Spring 2026:
https://www.darrellduffie.com/uploads/1/4/8/0/148007615/duffie_bpea_payments.pdf
“An Efficient Liquidity Savings Mechanism,” June 3, 2026: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6869662&__cf_chl_f_tk=0_Jrq4.M1jw0cY9jkTQugQHw531LRaR5X__LMj_0U.Q-1783272074-1.0.1.1-6nR7OVxYRqdVjoMHJTtUJ6A5vRg.ls3f_TfIWkVJqoo
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Learn more about the Fundrise Income Fund here:
https://Fundrise.com/mm
In this episode of Monetary Matters, host Jack sits down with Josh Pristaw, President of the $73 Billion real estate firm Clarion Partners, to decode the smartest institutional property plays for the new 2026 market cycle. Pristau incisively breaks down why Clarion avoids the massive concentration risks of direct data center development, opting instead to capitalize on the AI and e-commerce boom through their $42 billion industrial and logistics portfolio. He reveals senior housing as the firm's highest conviction asset class, driven by an undeniable demographic tsunami where 10,000 Americans turn 80 daily, demanding a quintupling of current supply pipelines. Listeners will also gain deep insights into the multifamily rental market's recovery, which is currently being fueled by peak household formation demographics and stabilizing lease trade-outs. Conversely, Pristau outlines a starkly bearish case for non-trophy office spaces, citing massive tenant replacement costs and functionally obsolete designs. Whether you are navigating commercial real estate investing, private credit ripples, or core-plus fund strategies, this interview delivers a masterclass on finding high-yield stability in a shifting macroeconomic landscape.
Follow Jack Farley on X https://x.com/JackFarley96
Follow Fundrise on X https://x.com/fundrise?lang=en
Pieces discussed:
“A Golden Opportunity for Senior Housing”: https://www.clarionpartners.com/insights/senior-housing-opportunity
“U.S. Core Real Estate: A New Cycle is Emerging”: https://www.clarionpartners.com/insights/us-core-real-estate-a-new-cycle
“Building into the Future: The Case for U.S. Industrial Development”: https://www.clarionpartners.com/insights/us-industrial-development
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In this episode, veteran investor and macro strategist Erik from the Erik YWR Substack breaks down his bold bull thesis projecting the S&P 500 to hit 10,000 by the end of 2027. Drawing on his past investing experience in Africa, Erik introduces "Project Zimbabwe," explaining why higher inflationary eras trigger an "upward crash" where nominal assets like stocks and real estate surge even when the broader economy feels sluggish. He challenges today’s market bears by comparing the current AI and semiconductor boom to the 1999 dot-com era, arguing that accelerating earnings growth and revolutionary technology could justify significantly higher market multiples. Beyond the tech trade, Erik highlights massive opportunities in European and Japanese banks transitioning back to a "risk-on" posture, alongside financial exchanges like CME and ICE that stand to thrive on rising market speculation. He also candidly addresses his toughest underperforming trades in Hong Kong and Chinese tech, differentiating between mainland China's robust hardware plays and Hong Kong's heavily disrupted e-commerce software sector. Ultimately, Erik warns that the greatest long-term risk for investors isn't a temporary 20% market correction, but the wealth erosion of sitting on the sidelines while the cost of living skyrockets around them. Recorded June 29, 2026.
Follow Erik YWR on X https://x.com/erik_ywr?lang=en
Follow Jack Farley on X https://x.com/jackfarley96
Erik YWR’s Substack https://www.ywr.world/
Pieces Discussed In Interview:
“YWR: S&P $10,000 Update,” June 16, 2026:https://www.ywr.world/p/ywr-s-and-p-10000-update
“YWR: Global Factor Model,” June 27, 2026: https://www.ywr.world/p/ywr-global-factor-model-9b9
“YWR: Friday Money Maker(s),” June 19, 2026 (on ICE CME and Exchanges):
https://www.ywr.world/p/ywr-friday-money-makers
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Leading IPO researcher Jay Ritter, widely known as "Mr. IPO" and the director of the IPO Initiative at the University of Florida's Warrington College of Business breaks down the historic 2026 public market landscape. Ritter analyzes the unprecedented potential for a wave of mega-IPOs from tech giants like SpaceX, OpenAI, and Anthropic. He dives into the realities of staggering price-to-sales ratios, warning that while AI offers immense technological promise, eye-watering trillion-dollar valuations leave very little room for error. Ritter also cuts through the hype surrounding retail access to venture capital and private equity, explaining why extra layers of middlemen, "volatility washing," and an evaporating illiquidity premium mean average investors aren't actually missing out on a free lunch.
Professor Ritter’s IPO Data: https://site.warrington.ufl.edu/ritter/ipo-data/
Follow Max on X: https://x.com/maxwiethe
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Apple Podcast https://bit.ly/4e7QJ1M
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X https://x.com/opmpod
Timestamps:
00:00 Intro
00:58 Meet Mr IPO
01:40 2026 is Unprecedented
02:52 Do IPOs Signal Tops
04:27 How IPO Pricing Works
05:57 SpaceX Valuation Risks
09:26 TAM Hype and Cursor
13:27 2026 Versus Past Waves
16:17 Must Own AI Exposure
19:46 Regulation and Unintended Effects
27:29 Geopolitics and Dual Use
29:10 Will IPO Volume Boom?
32:40 VC/PE = No Free Lunch
35:36 Retail Access Fee Stacking
39:14 Volatility Washing and Perps
49:09 Sentiment and Final Takeaways -
Liaquat Ahamed, legendary financial historian and author, joins Jack to discuss his latest book, "1873: The Rothschilds, the First Great Depression, and the Making of the Modern World.” Ahamed unpacks the 1873 financial crisis, explaining how Germany's abrupt move from silver to gold during a market panic triggered a massive global scramble for precious metals and severe deflation. He details the preceding infrastructure boom driven by the Rothschilds' bond market expansion, which eventually collapsed due to excessive railroad construction and the infamous Credit Mobilier corruption scandal. Transitioning to modern markets, Ahamed compares the 19th-century railway mania to today's trillion-dollar global AI and data center investment boom. He warns that fierce competition in the AI sector could lead to poor returns and a series of mini boom-bust cycles. While expressing concern over modern speculative bubbles in crypto and loose central bank policies, Ahamed remains hopeful that these technological innovations will spark a significant productivity jump. Recorded June 9, 2026.
“1873”: on Publish Penguin Random House: https://www.penguinrandomhouse.com/books/306461/1873-by-liaquat-ahamed/
“1873”: on Amazon: https://www.amazon.com/1873-Rothschilds-Depression-Making-Modern/dp/1594204179
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In this episode of Other People's Money, host Max Wiethe sits down with Shashank Chiranewala, founder of the new investment platform Plutus, to explore the future of independent research and portfolio management. Shashank explains why his platform is fundamentally different from the copy trading trend, emphasizing the importance of aligning model portfolios with an investor's unique risk-reward needs rather than blindly following a single strategy. They dive into the technical nightmares of executing global, active strategies on your own—like navigating foreign market rules and tracking errors—and how Plutus provides an automated, seamless execution solution for both individual and professional investors. Finally, they discuss why top independent researchers from Substack and FinTwit are choosing to list their portfolios on Plutus rather than launching traditional fund vehicles.
Check out Plutus: https://www.runplutus.com/
Follow Plutus on X: https://x.com/RunPlutus
Follow Shashank on X: https://x.com/sonny_seattle
Follow Max on X: https://x.com/maxwiethe
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Apple Podcast https://bit.ly/4e7QJ1M
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X https://x.com/opmpod
Timestamps:
00:00 Intro
01:37 The Broken Options
03:54 From Research to Investing
04:28 Why Not Copy Trading
07:56 SPY and Portfolio Fit
12:25 Building Multi Portfolio Strategies
14:58 Menu vs Tools Debate
20:34 Execution Is the Moat
25:17 Meet the Research Partners
28:18 Who Uses Plutus?
32:04 Creators and Regulation
36:26 Big Vision and Tokenization
38:42 Taxes and Compliance
44:43 How the Platform Works
46:32 Conclusion -
Ed Zitron is one of the most prolific skeptic of the AI Boom. Having just reported OpenAI’s 2025 financial loss, he joins Jack to argue that the sheer size of the losses by the large language model (LLM) companies are unsustainable and the operational costs of training and running LLMs far exceeds the revenue customers are willing to pay. Ed also discusses Meta’s confusing AI strategy, the risk (and fall?) of the tokenmaxxing era, and Anthropic’s suspension of Fable 5. Recorded June 19, 2026.
Pieces discussed in the interview:
“Exclusive: OpenAI Losses Increased Nearly 8X in 2025, With Spending Hitting $34 Billion”:
https://www.wheresyoured.at/exclusive-openai-financials/
“AI Is Slowing Down”: https://www.wheresyoured.at/ai-is-slowing-down/
“AI's Brokenomics”: https://www.wheresyoured.at/brokenomics/
“OpenAI spending hit $34bn last year ahead of planned IPO”: https://www.ft.com/content/e15b0d7e-ff6b-4f16-ba7a-4068feddb828?syn-25a6b1a6=1
Follow Ed Zitron on X https://x.com/edzitron
Follow Jack Farley on X https://x.com/jackfarley96Ed’s newsletter: https://www.wheresyoured.at/
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Apple Podcasts https://rb.gy/s5qfyh
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YouTube https://rb.gy/dpwxez -
In this panel at MacroMinds Symposium, Jack Farley sits down with legendary short seller Jim Chanos and Val Zlatev, Portfolio Manager and Partner at Analog Century Management, to analyze the long and short opportunities of the AI and semiconductor boom. Chanos highlights a significant timing disconnect wherein chip suppliers recognize revenues immediately while hyperscalers capitalize their massive infrastructure costs—a trend mirroring the late-1990s CapEx boom before tech earnings collapsed by 40%. Chanos expresses deep skepticism toward "neo-cloud" data center developers like CoreWeave, modeling a very generous ten-year GPU lifespan (depreciation schedule) to forecast low pre-tax returns on invested capital. From a micro perspective, Val Zlatev outlines the structural upside for high-demand memory stocks, noting they trade at cheap forward multiples because physical supply chain constraints hard-cap semiconductor equipment manufacturing growth at 30% annually. The discussion also scrutinizes Elon Musk’s projection for one terawatt of compute capacity, breaking down the immense real-world barriers facing space data centers, including launch costs, space radiation, and maintenance logistics. They also dissect the SpaceX S1 filing, revealing that the primary rocket launch division continues to lose money despite the profitability of Starlink. Recorded on June 4th at MacroMinds Symposium.
About MacroMinds:
At MacroMinds, our vision is to unite the investment community in support of organizations that are making a meaningful difference in the lives of students and their families.
By partnering with high-impact nonprofits that serve socio-economically disadvantaged communities and schools, MacroMinds is committed to helping close the educational gap and expand opportunity across the New York area.
MacroMinds website:
https://macrominds.org/
https://macrominds.org/donate/
Charities supported by 2026 Symposium:
NYC First: https://macrominds.org/nyc-first/
Opportunity Music Project: https://macrominds.org/opportunity-music-project/
100 Women in Finance: https://macrominds.org/100-women-in-finance/
Follow Jim Chanos on X https://x.com/RealJimChanos?lang=en
Follow Jack Farley on X https://x.com/jackfarley96
Follow Monitoring The Situation (MTS) on X https://x.com/MTSlive
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In this episode of Other People’s Money, host Max Wiethe sits down with Chris Semenuk, an investment partner at Tema ETFs, to discuss the massive secular tailwinds driving the US manufacturing and electrification renaissance. Semenuk argues that after a three-year recession and decades of underinvestment, US industrial capacity and manufacturing are finally entering a powerful recovery cycle. Moving beyond the hype of AI and hyperscalers, they explore how "boring" short-cycle industrial companies like those producing essential components like ball bearings, pneumatics, and filters are primed for extraordinary earnings growth. They also discuss how America’s electrification mega trend goes beyond the AI data center buildout.
Follow Chris on X: https://x.com/ChrisSemenuk
Follow Max on X: https://x.com/maxwiethe
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Apple Podcast https://bit.ly/4e7QJ1M
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X https://x.com/opmpod
Timestamps:
00:00 Manufacturing Recession Ends
00:46 Meet the Industrial Bull
02:00 Proof Reindustrialization Is Real
05:28 What Reindustrialization Really Means
07:49 Why Companies Build Here
12:45 Advanced Goods Not Old Jobs
15:52 AI Hype Versus Reality
17:27 Picking the Equipment Winners
21:46 Inside Factory Wall Plays
23:26 Short Cycle Sequencing
27:53 Destocking Rates Tariffs Fog
32:28 Why Stocks Held Up
37:03 Valuing Cyclical Industrials
45:05 Tariffs Drive Onshoring
50:31 Humanoids And Automation
54:31 Grid Demand Inflection
57:05 Behind the Meter Reality
01:01:10 Rural Utilities Winners
01:08:22 High Voltage Bottleneck
01:14:40 Service Backlogs and Duration
01:18:28 Secular Tailwinds Wrap Up -
Sponsor: Teucrium Corn Fund (NYSE Arca: CORN):
https://teucrium.com/corn
In this episode of Monetary Matters, host Jack Farley sits down with independent economist and strategist David Woo to break down the hidden realities behind global tech markets and macroeconomics. Woo reveals how component inflation and artificial "token maxing" have created an optical illusion of accelerating corporate earnings, obscuring a real-term slowdown in tech hyperscaler CapEx. Rather than arguing that artificial intelligence lacks power, Woo presents a stark AI bear case rooted in imminent global regulatory crackdowns as advanced frontier models like Claude Mythos introduce severe cybersecurity and national security risks. He predicts that the broader AI industry is rapidly heading toward intense competition and commoditization, which will ultimately turn current hardware shortages into a massive compute glut. Turning to geopolitics, Woo details why he remains heavily bullish on oil as active military conflicts between Iran and Israel continue to jeopardize the blockaded Strait of Hormuz. Applying game theory to President Trump's ongoing ceasefire negotiations, he asserts that Iran is exploiting Washington's public push for a deal to extract tougher terms that will inevitably drive energy prices even higher. Recorded June 10, 2026.
____
Jack Farley on X https://x.com/JackFarley96
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__
This episode is sponsored by the Teucrium Corn Fund (CORN). Download our free eBook, "Why Investors Are Increasingly Turning to Commodity ETFs," to explore the macro forces shaping commodity markets today.
Download the eBook: insights.teucrium.com/why-investors-turning-to-commodity-etfs
CORN Fund Page & Prospectus: www.teucrium.com/corn
This material must be preceded or accompanied by a prospectus. The prospectus is available at https://teucrium.com/corn.
Investing involves risk, including the possible loss of principal. Commodities and futures generally are volatile, and instruments whose underlying investments include commodities and futures are not suitable for all investors. Past performance does not guarantee future results.
For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
CORN, CANE, SOYB, and WEAT are commodity pools regulated by the Commodity Futures Trading Commission (CFTC). The Funds do not track the spot price of corn, sugar, soybeans or wheat. These Funds, which are ETPs, are not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Teucrium Trading, LLC is the Sponsor for CORN, CANE, SOYB, and WEAT.
PINE Distributors LLC is the Marketing Agent for CORN, CANE, SOYB, and WEAT and is not affiliated with Teucrium Investment Advisors, LLC and Teucrium Trading, LLC. -
Sponsor: Teucrium Corn Fund (NYSE Arca: CORN):
https://teucrium.com/corn
Conor Coleman, Head of Investments and Chief of Staff at the Development Finance Corporation (DFC), joins Monetary Matters to explain the DFC’s capacity as the international investment arm of the United States Government and its central role in economic statecraft. He and Jack discuss the Ukraine Mineral Deal, Strait of Hormuz Reinsurance Program, as well as several other deals and programs around the world that the DFC is involved in. Recorded June 8, 2026.
Development Finance Corporation (DFC) website: https://www.dfc.gov/
DFC Project Data: https://www.dfc.gov/what-we-do/active-projects
U.S.-Ukraine Reconstruction Investment Fund: https://www.dfc.gov/investment-story/investing-ukraines-reconstruction-and-americas-security
“US Agency to Own 20% of Graphite Miner Syrah in Critical Minerals Push”: https://www.bloomberg.com/news/articles/2026-03-26/us-agency-to-own-20-of-graphite-miner-syrah-in-critical-minerals-push
____
Jack Farley on X https://x.com/JackFarley96
Follow Monetary Matters on:
Apple Podcasts https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
This episode is sponsored by the Teucrium Corn Fund (CORN). Download our free eBook, "Why Investors Are Increasingly Turning to Commodity ETFs," to explore the macro forces shaping commodity markets today.
Download the eBook: insights.teucrium.com/why-investors-turning-to-commodity-etfs
CORN Fund Page & Prospectus: www.teucrium.com/corn
This material must be preceded or accompanied by a prospectus. The prospectus is available at https://teucrium.com/corn.
Investing involves risk, including the possible loss of principal. Commodities and futures generally are volatile, and instruments whose underlying investments include commodities and futures are not suitable for all investors. Past performance does not guarantee future results.
For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
CORN, CANE, SOYB, and WEAT are commodity pools regulated by the Commodity Futures Trading Commission (CFTC). The Funds do not track the spot price of corn, sugar, soybeans or wheat. These Funds, which are ETPs, are not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Teucrium Trading, LLC is the Sponsor for CORN, CANE, SOYB, and WEAT.
PINE Distributors LLC is the Marketing Agent for CORN, CANE, SOYB, and WEAT and is not affiliated with Teucrium Investment Advisors, LLC and Teucrium Trading, LLC. -
Sponsor: Teucrium Corn Fund (NYSE Arca: CORN):
https://teucrium.com/corn
In this episode of Monetary Matters, host Jack sits down with Matt Smith, the Director of Research at Kepler, to analyze how the global oil market is sleepwalking into a major supply crisis four months into the Iran war conflict. With the Strait of Hormuz closed for over three months, approximately 11 million barrels per day of crude supply have been removed from the market, forcing a global reduction of 9 million barrels per day in refinery runs. Smith explains that China's sudden decision to halt buying and scale back its own refinery operations temporarily freed up 4.5 million barrels per day for the global market, masking the true severity of the physical shortage. Meanwhile, the United States has acted as a primary buffer by heavily exporting refined products overseas, which has caused domestic inventories—particularly at the Cushing pricing hub—to deplete rapidly toward critical operational bottoms. Despite these deep structural deficits, headline benchmarks remain under $100 due to seasonal demand lulls and political interventions, leaving the trading market in a temporary state of complacency. Ultimately, Smith warns that a major market breakdown could occur as early as July when these dwindling stockpiles finally run dry and force a dramatic price response.
This episode is sponsored by the Teucrium Corn Fund (CORN). Download our free eBook, "Why Investors Are Increasingly Turning to Commodity ETFs," to explore the macro forces shaping commodity markets today.
Download the eBook: insights.teucrium.com/why-investors-turning-to-commodity-etfs
CORN Fund Page & Prospectus: www.teucrium.com/corn
This material must be preceded or accompanied by a prospectus. The prospectus is available at https://teucrium.com/corn.
Investing involves risk, including the possible loss of principal. Commodities and futures generally are volatile, and instruments whose underlying investments include commodities and futures are not suitable for all investors. Past performance does not guarantee future results.
For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
CORN, CANE, SOYB, and WEAT are commodity pools regulated by the Commodity Futures Trading Commission (CFTC). The Funds do not track the spot price of corn, sugar, soybeans or wheat. These Funds, which are ETPs, are not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Teucrium Trading, LLC is the Sponsor for CORN, CANE, SOYB, and WEAT.
PINE Distributors LLC is the Marketing Agent for CORN, CANE, SOYB, and WEAT and is not affiliated with Teucrium Investment Advisors, LLC and Teucrium Trading, LLC. -
In this episode of Other People’s Money, host Max Wiethe sits down with Michael Fritzell, author of Asian Century Stocks, to break down the massive valuation divergence playing out across Asian equity markets. Michael explains why he believes the skyrocketing AI and memory chip sectors in South Korea and Taiwan have entered dangerous bubble territory, fueled by unsustainable profit estimates that ignore looming Chinese supply. Instead of chasing the tech hype, he highlights the massive upside hidden in overlooked South Korean small caps and Japanese growth stocks that are trading at single-digit multiples despite solid fundamentals. Tune in to discover how corporate governance reforms, insider buying trends, and a forming "New Cold War" are creating the ultimate stock-picker's market.
Read Asian Century Stocks: https://www.asiancenturystocks.com/
Follow Michael on X: https://x.com/MikeFritzell
Follow Max on X: https://x.com/maxwiethe
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Timestamps:
00:00 Korea Chip Bubble Warning
00:42 Why Asia Diverges Now
02:26 AI Mania Hits Korea
04:37 Bubble Case for Memory
06:40 China Supply Response
09:18 Memory Versus Logic Chips
11:33 Speculation on the Ground
13:41 Western Investors Pile In
15:44 Japan Reforms and Yen Boom
18:26 Korea Governance Fixes
24:20 Korea Small Cap Hunting
25:45 K Beauty and Cultural Exports
30:52 Finding Ideas Before The US
31:57 Nintendo Versus Memory Costs
33:19 Nintendo Release Drought
35:36 Switch 2 Execution Questions
37:39 Family Console vs Roblox
38:25 Iran War Energy Shock
41:50 India & China Underperformance
45:17 China Crackdowns Risk
50:42 The China Gray Zone Trade
54:25 New Cold War Lines
56:54 Hunting Value Across Asia
01:02:19 Reforms and Value Programs
01:04:06 How Much to Allocate to Asia
01:07:41 Where to Follow Michael -
Learn More About Unlimited HFGM Global Macro ETF $HFGM: https://unlimitedetfs.com/hfgm
In this episode of Monetary Matters, host Jack Farley sits down with Jim Masturzo, Chief Investment Officer at Research Affiliates, to discuss the changing macroeconomic landscape and the underlying flaws of the traditional 60/40 portfolio. Masturzo explains that the recent positive correlation between stocks and bonds requires investors to find true diversifiers, though he still sees tactical opportunities in trading range-bound bond yields. The conversation explores the AI-driven market narrative, with Masturzo highlighting that the U.S. market is significantly overvalued at a CAPE ratio of 40 and examining the resulting ripple effects on software stock valuations. Finally, he details his bullish conviction trade on commodities amidst severe geopolitical supply chain risks and introduces his firm's new fundamentally weighted RAFI Growth Index.
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Timestamps:
00:00 Market Overvaluation Setup
00:53 Meet Jim Masturzo
01:23 60 40 Under Pressure
02:50 Finding True Diversifiers
06:24 Why Yields Stay Bounded
11:29 Government Backstops And YCC
14:09 Fed Balance Sheet Fears
17:28 Sponsor Break HFGM
19:44 Range Intact Tactical View
25:26 Private Credit Shift Risks
28:36 Stocks Rally And AI Narrative
33:31 CAPE Valuations Explained
36:19 Earnings Growth Skepticism
39:00 AI Adoption Reality Check
45:53 AI Investing Limits
49:26 Why Earnings Forecasts Fail
54:18 SaaSpocalypse and Risk Framework
01:02:37 Valuation Multiples and GAAP Focus
01:06:44 Conviction Trades Commodities and Bonds
01:14:38 Research Affiliates and RAFI Indices
01:16:21 Fundamental Growth Index Explained -
Learn more about the Fundrise Income Fund here: https://fundrise.com/mm
In this episode of Other People's Money, GTIS Partners founder and CIO Tom Shapiro breaks down how massive macroeconomic shifts, including AI and inflation, are reshaping the global real estate landscape. He explains why his firm is heavily betting on a San Francisco recovery driven by the booming AI sector, and how they are scooping up properties at steep discounts to replacement costs. Shapiro also details the severe oversupply challenges currently stalling popular Sun Belt cities, alongside the firm's strategic push into industrial logistics to capitalize on domestic reshoring trends. Finally, he shares decades of expertise on navigating the complex Brazilian real estate market, offering a masterclass on global investment strategies in a high-interest-rate environment.
Learn more about GTIS Partners: https://www.gtispartners.com/
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Timestamps:
00:00 Intro
01:30 Macro Shocks and Inflation
02:30 AI Disruption Risks
04:27 Tracking Jobs and Households
06:09 Immigration and Rate Politics
08:03 Build to Rent Bill Fallout
11:57 Affordability and Mortgage Rates
14:41 Fundrise Income Fund
16:36 Regional Winners and Losers
17:12 Sun Belt Oversupply Pain
19:57 San Francisco Comeback Thesis
24:35 AI Occupancy and Investment Plays
28:28 Picking Buildings Block by Block
30:02 Picking the Right Building
30:21 Safety and City Recovery
33:39 AI Jobs and Office Demand
35:17 Froth and Real Revenues
37:39 Data Centers NIMBY Debate
39:54 Reshoring and Warehouse Boom
44:09 Real Estate Capital Markets
49:07 Why Brazil Worked
52:46 Brazil Rates and Currency
55:15 Politics and China Pull
58:44 US Outlook and Wrap Up -
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Andreas Steno Larsen, macro researcher from Real Vision, joins Max Wiethe on Other People’s Money to discuss the shifting macro regime where inflation has returned and is pushing US Treasury yields over 5%. They discuss the market’s expectation for interest rate hikes and how the new Fed chair Kevin Warsh will react to this environment. They also discuss the other dominant force in markets right now, the AI buildout. Steno Larsen argues that things are going to get crazier before the cycle turns later this year, but in the meantime the shortages in the AI supply chain are creating unappreciated winners in the technology sector.
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Timestamps:
00:00 Intro
00:50 Inflation and the Big Macro Shift
01:43 Transitory Inflation Debate
04:19 Bond Trade Timing
06:13 Steep Curve Playbook
09:41 Why Steepening Helps
12:24 Strong Dollar EM Risk
14:35 HFGM Unlimited Funds
16:51 India Data Versus Rupee
18:24 Energy Supply Countdown
21:23 LatAm Underperformance
23:27 AI Inflation Link
26:52 Korea Semis Surge
28:26 Momentum with Earnings
30:39 Quantum Hype Warning
32:24 Semis Cycle Peak Question
34:47 Late Cycle Winners Flip
39:01 IPO Supply and Rotation
43:35 Valuation Metrics Reframed
46:11 Hidden Scarcity Trade
49:21 Goods Inflation Returns
51:15 AI Jobs and Robotics
54:07 White Collar Disruption Map
59:53 LLMs and Bad Facts
01:04:47 Momentum vs. Value Edge
01:06:15 Rapid Fire Outlook and Wrap -
John Cocke, Deputy Chief Investment Officer at Corbin Capital, joins Jack to discuss the world of private credit. With so much discussion over the asset class, John provides some much-needed context. While there are some areas of concern, John rejects the doomer narratives commonly seen on social media and sees opportunity on the horizon. Jack and John also discuss data center financing and the important, yet often missed, details of the private credit space. Recorded on May 15th, 2026.
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Follow John Cocke on LinkedIn https://www.linkedin.com/in/john-cocke-8319295/
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Check Out Jack & Max on the MTS Livestream: https://x.com/MTSlive - Visa fler
