The Macro Dirt Podcast The Year-End Macro Dirt - A LOOK AHEAD
Dec 24, 2025
Tony Greer and Jared Dillian explore the dynamic landscape of macro markets, diving into the recent surge in platinum and precious metals. They analyze the impact of rising rates and discuss how the dollar's movements could influence capital flows. The duo debates AI's cultural relevance and potential market shifts driven by major tech players. They also assess recession risks against a backdrop of strong GDP, while sharing favorite sectors for 2026 and their positioning strategies amidst evolving economic conditions.
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Metals Rally Signals A Regime Shift
- Platinum and precious metals have surged sharply, with platinum doubling in three months and catching traders by surprise.
- Tony Greer and Jared Dillian view metals' moves as a major regime signal rather than a short-lived fad.
AI Trade Is Hard To Fade
- AI and big tech momentum (NVIDIA, Google, Microsoft) remain dominant and hard to short despite periodic pullbacks.
- Both hosts acknowledge one more potential run higher before any meaningful correction occurs.
Prepare For A Healthy Pullback
- Expect a healthy S&P pullback if mega-cap AI stocks drop; position sizing matters when markets correct.
- Treat a 15–20% S&P pullback as painful but non-catastrophic and manageable for traders.