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Twitter is an awesome reflection tool as it’s a literal archive of your thoughts/sentiment/markets/calls. Picking bottoms is a masochists game, & you have to be prepared to get clobbered, but sometimes it pays off. A # of smaller/niche commodities remind me of U back in 2017

Not sure this is bullish. Look back at history - biggest down AND up days in history come during the worst bear markets.

#Platinum continues to really intrigue me. Fundamental look 👌 and that chart...if you think silver looks explosive, the base on Pt is one for the ages. Don't lose sight of Platinum here.

Actually, not the worst take.

Nuanced topic, and I’m far from knowledgeable on the subject, but if I’m a Longshoreman, I’m looking at this action as a near guarantee that the port industry is going to accelerate efforts to automate me out of a job…

Kiddo must be able to tell dads had a rough morning in the market 😂😂. Daughter walks into my office, out of the blue, and hands me this drawing, along with a hug and a kiss. Heart is full, despite the red on my screen today. #Perspective

This 👇🏻. I’d argue that buying high quality/lowest cost quartile producers during cyclically low commodity prices (when at least half the cost curve is underwater) increases your odds the most. The reverse is also true (ie. buying when the entire cost curve is in the money)

Thanks for having me on guys - a great discussion with lots to noodle on, heading into 2025

100%

What’s interesting to me is investment demand being so de minimus (<20%). Would love to know what % of demand it peaked at in prior cycle tops (2011, 1980 etc). My guess is well north of 50%. Not going to take much re returning investment demand to pop hard

This time is unique though, as it’s the only occasion on the chart where the “cheapness” hasnt come as the result of the denominator getting smaller (ie. a market rout). This time it’s been all about numerator rising (margins increasing). Fascinating to see how this plays out

I personally think platinum is one of the more intriguing commodity setups going right now. Name another commodity that hasn’t had a hint of a bull market for 17 years? Setup looks like silver on steroids. Beautiful risk/reward technical setup too.

On a day like today, I find it fascinating that the minuscule green box in the bottom right corner of the heatmap represents the gold weighting in the S&P500 (NEM). Highly likely that that little box is going to get larger in the coming years, given the current setup #GOLD

Seems like everyone’s on platinum today, given it’s firmly on breakout watch. I continue to think the setup is extremely intriguing. Ideally we get a clean break above $1.2k. Supply side driven bull markets are always the most fun. Should be fun, once it gets going.

I just don’t get why anyone would make any fiat (relatively strong vs others, or otherwise) the core thesis of my vestment portfolio. There aren’t too many other asset classes I can think of where you’re almost guaranteed to lose purchasing power over most time frames.

Bloody fascinating point that's applicable to so many facets of life (and investing)

Always a pleasure, never a chore. Great to catch you again mate.

Good lord, is there a worse airline than United Airlines...?! Unscheduled overnight layover in Houston, and now a major delay on an early morning flight from LAX to San Diego. Like seriously, how do you mess up a 20min flight between LA and SD?!