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"According to a recent BofA survey, 73% of respondents believe that the theme of 'U.S. exceptionalism' has peaked, impacting markets, and 49% now view 'long gold' as the most crowded trade, overtaking bets on U.S. tech giants for the first time in 24 months" Long gold the most

Despite the sharp 2-day bear market rally (heavy short covering), there's still a long way for this deflating Super Bubble to fall. Too many eager dip buyers - just as there were during the 2000-2002 tech stock collapse. I don't know how far this rally can go - but I do know it's

Agnico Eagle just released another in the long line of terrific quarterly reports. Record quarterly adjusted net income, EPS more than doubled, big "beat" to analyst estimates, All-in sustaining costs (AISC) of $1,183 per ounce (down year-year), net debt lowered to virtually

A welcome dose of reality on the bubble-driven AI fantasy world from WSJ's tech expert (and futurist), Christopher Mims: "All of this work suggests that under the hood, today’s AIs are overly complicated, patched-together Rube Goldberg machines full of ad-hoc solutions for

Thanks for the insight. Most of Mag 7 have already started layoffs in order to partially offset the rising depreciation expenses that will just keep on growing for years ahead due to their extended useful life assumptions for tech equipment

DigiTimes headline this morning: "iPhone 17 stocking begins: 10% YoY shipment decline estimated" Not exactly the forward-looking news one can use to rationalize market leader Apple's lofty 33.4 P/E ratio. Long way to go in this bear market.

With China on an extended Labor Day holiday break (May 1 - 5), leading to a massive (and likely temporary) unwind of Chinese gold futures speculators' positions (gold down sharply overnight), it was not a good time for Alamos to stumble with its Q1 earnings report (EPS miss).

Apple and Amazon both selling off in after-hours trading. Mag 7 rally exhaustion (maybe) or warts in the reports? In Apple's case, with a stock trading at a nosebleed 34 P/E supported by sub-5% net income growth, there better not be warts. But there were. Apple Services growth

Excellent article with FTSE Russell analysts arguing, "in a world marked by rising uncertainty and higher inflation," "investors should consider transforming their traditional 60/40 portfolio to incorporate a 20% gold allocation." "Gold has once again reestablished itself as an

"Serious and irreparable harm" resulting from the loss of Apple's 27% App Store software developer fees (mostly pure profit to Apple) doesn't seem to be reflected in Apple's $3T market cap and historically high 31 P/E ratio. And don't forget the possible loss of $20B in annual

"Purchases made on the US App Store helped Apple earn over $10 billion in commissions last year, TechCrunch reports, citing an analysis by Appfigures." $10.1B plus $20B in Google payments annually = $30B. Those are nearly pure profit streams for Apple. In the two court cases

Another one of my miner positions to be taken over. Pan American Silver acquiring MAG. As subscribers know, I'm not a big fan of Pan American. finance.yahoo.com/news/pan-ameri…

These hyperscalers (virtually all of them) continue to lay off employees. Microsoft's latest cut announcement (second round this year) will reduce headcount by around 7,000 "across all levels, teams and geographies." Official explanation: “We continue to implement

"The Vision Pro launched in February 2024 with great promise. It was Apple’s first major product release in years! It’s the first device you look through and not at! Typing can be done in the air! But buyers who wore them in the wild say they got nothing but dirty looks and sore

Sen. Ron Johnson speaks the truth about the “One Big Beautiful Bill” working its way through Congress in today's WSJ. "Pathetically, Congress is having a hard time agreeing on a reduction of even $1.5 trillion from that 10-year amount. That’s a 1.68% cut—a little more than a

Friday afternoon (post close) bombshell. This will make next week interesting. One would expect this to be bullish for gold, bearish for the $ & bonds and likely not helpful to the wildlings who have recently piled into the most overpriced (and crappiest) stocks (again).

China sold $19B in US Treasuries and you can add another $11B of selling from Hong Kong. But don't worry - Cayman Islands picked up the slack in March. Those are hedge funds and they're involved in highly levered "basis" carry trades which are inherently volatile. The US

JAPAN WON’T RUSH U.S. TRADE DEAL, ISHIBA SAYS Japan’s 🇯🇵 PM Shigeru Ishiba says Tokyo won’t compromise national interests just to meet time limits in trade talks with the U.S., stressing Japan won’t accept a deal that skips the 25% car tariff. “We will not follow other countries

WSJ: "That (Trump's new demands that the company make iPhones in the U.S., threatening 25% tariffs if the company doesn’t comply) is just one of the threats Cook has confronted in what has appeared to be a no good, very bad year for Apple. Aside from Trump, Cook is facing off

Year to date, the S&P 500 index has lost 1.3%, the Dow Jones Industrial Average has fallen 2.2%, the Nasdaq Composite index is off 3%, the Russell 2000 (small cap index) is down 8.5% and the Roundhill Magnificent Seven ETF has fallen 6% (led by Apple's 22% plunge). Gold has