The Macro Dirt Podcast A Bulletproof Metals Fund
11 snips
Nov 20, 2025 
Bob Coleman, founder of Idaho Armored Vaults and Profits Plus Capital Management, dives into the fascinating world of physical metals. He discusses the current silver squeeze and the surprising global silver deficit of 200 million ounces. Coleman highlights the risks of ETFs and shares valuable insights on silver's potential to reach $200. He also explains how his hedge fund operates with a heavy silver allocation and the importance of safe storage methods for metals. Tune in for a wealth of knowledge on precious metals and market dynamics!
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From Dean Witter To A Family Depository
- Bob Coleman built a depository in Nampa, Idaho and runs a full-service vault storing about $1.2 billion in assets.
- He also manages a physical-only precious metals hedge fund and offers global logistics and insured armored transport.
Fund Allocations Driven By Gold–Silver Ratio
- Coleman's fund holds ~74% silver, ~24% gold and a small allocation to platinum, all physical and unlevered.
- He shifted from gold to silver after the gold-silver ratio blew out in 2020 and seeks long-term, cash-paid metal exposure.
Check Custodian Insurance And Conflicts
- Verify how and where your metals are insured and stored before trusting a custodian or ETF.
- Prefer structures that reduce conflicts of interest and provide client oversight of insurance coverage.