Know Your Risk Podcast Adapting to a New Market
Jan 23, 2026
Chase Taylor, an investment professional who provides macro and market insights, joins to unpack recent market shifts. They cover the metals rally and miner conviction. Shorting mechanics and retail risks get a clear breakdown. Discussions include small caps versus international markets, AI’s uneven impact on valuations, geopolitical oil risks, and why investors must adapt strategies to a changing landscape.
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Metals' Decades-Then-Weeks Explosion
- Metals and miners can stay ignored for years then surge violently in weeks, reflecting long-deferred inflationary pressures.
- Zach Abraham connects debt buildup and deficits to rapid metal price catch-up that surprised many investors.
Consider International Over Small Caps
- Favor international and emerging market equities over Russell 2000 exposure for durable value and lower reliance on floating-rate debt.
- Chase Taylor and Zach Abraham advise ETFs for international allocation as a safer, value-rich trade.
Passive Flows Distort Small-Cap Indexes
- IWM's index composition inherits passive-flow distortions that leave low-quality, unprofitable companies overweight.
- Zach Abraham notes many small-cap winners simply graduate to larger indexes, limiting long-term IWM upside.