Know Your Risk Podcast Investing in Metals
Dec 10, 2025
Delve into the hidden value of metals as Zach highlights the tangible asset benefits of miners versus speculative investments. The discussion critiques the shaky foundations of companies like Boeing and Carvana, urging a focus on solid balance sheets. There's a sharp comparison between US and undervalued international markets, emphasizing the opportunities abroad. Listeners are cautioned about the risks inherent in meme stocks and high-income ETFs, while being encouraged to explore deep-value investments for potential growth.
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Client's Successful Metals Allocation
- A client put $50k into mining stocks 16 months ago and bought deep-value miners under book value.
- Those positions have performed well and validate Zach's metals thesis.
Prefer Real Assets Over Meme Bets
- Buy deep-value miners and metals instead of gambling on meme coins and crypto flops.
- Favor companies with clean balance sheets and assets (land, mineral rights) that trade below book value.
Sideways Winners Can Produce Negative Real Returns
- Holding high-flying, overvalued stocks long-term can produce negative real returns in inflationary periods.
- Zach warns that sideways mega-cap winners can underperform short-term treasuries over multi-year spans.