Thoughtful Money with Adam Taggart

In this engaging conversation, Tavi Costa, a macro and commodities expert at Crescat Capital, warns about the impending decline of the US dollar and its far-reaching effects on global markets. He discusses how a weakening dollar could negatively impact US stocks while presenting unique investment opportunities in undervalued assets, particularly in commodities and emerging markets. Tavi also emphasizes the strategic positioning of gold and silver mining against a backdrop of high stock valuations and market volatility, urging investors to navigate these changes with caution.

Chance Finucane, Chief Investment Officer at Oxbow Advisors, discusses alarming stock market valuations that suggest prices won't meet profit growth expectations. He explores the need for cautious investment strategies, emphasizing the shift toward safer asset classes. The conversation also covers the implications of a weakening dollar on commodities like gold and energy, while advocating for a more diversified portfolio beyond the traditional 60-40 model. Finucane offers practical tips for navigating financial volatility and maximizing long-term investment resilience.

Michael Every, a Global Strategist at Rabobank, discusses how rising nationalism and protectionism are reshaping the global economy. He explores the disconnect between traditional market metrics and the new geopolitical landscape, emphasizing investment opportunities amidst uncertainty. Every examines the shift from globalization, the implications of the Russia-Ukraine conflict, and the role of sovereign wealth in national security. He also highlights the necessity for strategic partnerships and the impact of mercantilist thinking on future investment strategies.

Lance Roberts, a seasoned portfolio manager known for his sharp market insights, dives into the unrealistic earnings expectations for 2025. He warns of a likely market correction due to these inflated forecasts. The discussion touches on Walmart's recent disappointments and the shrinking consumer confidence. Roberts analyzes the complex links between tariffs, profits, and inflation, and how they're affecting corporate health. He also shares strategies for navigating current market volatility and highlights the significance of gold and bond market trends.

John Lodra and Mike Preston, lead partners at New Harbor Financial, delve into the bullish outlook for stock prices and explore investment strategies amid market volatility. They discuss the promising potential of gold and mining stocks, emphasizing gold as a hedge against inflation and economic uncertainty. The duo also addresses concerns about job security, offering advice on emergency planning. Their analysis on treasury bills highlights dynamic risk-return strategies, providing crucial insights for savvy investors.

Cameron Dawson, Chief Investment Officer at NewEdge Wealth, returns to share her sharp insights on market dynamics. She discusses the potential impacts of a declining stock market on U.S. consumer spending and the intricate relationship between inflation and GDP growth. Dawson delves into the risks associated with high yields and the significance of leveraging ratios in corporate profits. With a focus on asset allocation strategies and the role of alternative assets, she emphasizes turning market volatility into opportunity while navigating economic uncertainties.

Jim Grant, founder of Grant's Interest Rate Observer and a leading authority on interest rates, joins Mike Preston and John Lodera from New Harbor Financial. They discuss the end of a four-decade bond bull market amid persistent inflation and disruptive U.S. policies. Grant emphasizes that higher interest rates are likely here to stay, while exploring the risks tied to U.S. public finances and auction failures. The trio also examines the appeal of gold versus bonds and how to navigate the evolving investment landscape during uncertain economic times.

Lance Roberts, a portfolio manager renowned for his market insights, joins to discuss the current bullish sentiment among investors. He warns of potential volatility this year, drawing parallels to the 2021 market correction. The conversation unpacks the risks of excessive leverage and the need for prudent risk management strategies. They also delve into recent inflation data and the impact of economic policies on market expectations, urging listeners to adopt a cautious and proactive approach to their investment portfolios.

Nouriel Roubini, a prominent economist known for predicting the 2008 financial crisis, joins the discussion with insights on potential 8% interest rates by 2030 and alarming predictions of 80% unemployment by 2045. He explores the implications of geopolitical tensions on U.S. economic stability, the contrasting K-shaped recovery, and the impact of automation on job markets. Roubini also dives into investment strategies amidst rising inflation, cautioning against the volatility of cryptocurrencies while advocating for safer asset classes.

Michael Kantrowitz, Chief Investment Strategist at Piper Sandler, discusses his innovative HOPE framework, assessing economic health amid challenges like housing unaffordability and trade wars. He highlights complexities in the global economy and the impact of Federal Reserve policies on market volatility. Kantrowitz examines trends in housing, emphasizing regional disparities and the rising use of home equity loans. The conversation also navigates the relationship between macroeconomic indicators and stock performance, advocating for cautious investment strategies as 2025 approaches.