The ACID Capitalist Podcast Copper, Gold and Trading the Fuzzy Cloud
9 snips
Oct 25, 2025 This discussion dives deep into the recent CPI figures and their implications, critiquing shelter data and Fed assumptions. It highlights the importance of intuition over screen-watching in trading, likening market analysis to artistry. Copper’s demand is dissected, contrasting hype around its use in tech with actual needs for data infrastructure. Gold's rising appeal is examined amid capital flight from China, sparking thoughts on its potential to reach high prices. Lastly, geopolitical supply risks surrounding palladium and precious metals as investment options round out the intriguing conversation.
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CPI Numbers Can Mislead Policy
- Hugh Hendry views the CPI print as misleading and smells manipulation in headline decimals.
- He emphasises shelter as the dominant, model-driven component skewing inflation and policy signals.
AI Hallucinations Persist Despite Hype
- Hendry highlights AI's frequent errors and hallucinations despite massive investment.
- He warns that AI still produces convincing but false outputs, affecting decision-making.
Trade Less By Looking Less
- Hugh Hendry recommends stepping back from screens to improve trading judgement.
- He says his best market decisions come when he is 'blind' to real-time noise and listens instead.
