🚨NEW EPISODE🚨 with @LukeGromen - founder of Forest For The Trees: - equities "extremely complacent" to sovereign debt risks - US, UK, Fr, Ger, Jap - "all going to break" - be un-levered, own gold, & be ready to buy the dip because... - Warsh WILL bend knee to Treasury mkt

🚨NEW EPISODE🚨with JIM MELLON - US mkt at a tipping point - "Just wait it out - there'll be opportunity to buy much cheaper" - SpaceX biggest short of all time - Fading energy longs, but bullish UK North Sea @ithacaenergy - Bullish UK small cap; Yen; gold miners (not metal) CAUTION: “If you think that you can lay down your portfolio for the next 20 years and you'll be fine, then I think you're making a big mistake because the rapid change in technology, the rapid change in almost everything in society means that you've got to be well-read and got to have good sources of advice. And if you feel hesitant about the markets, just don't go into them. Don't feel that you have to be involved at all times. Just wait it out. There'll be an opportunity to buy much cheaper.” TIPPING POINT: “I think it's a sort of a general tipping point in markets. You have seen that the US market has not done well this year actually compared to other markets around the world. Although the US market has done well over the last five years, it's been highly concentrated in what it's done. Now it's really looking pretty bad. And I think the main signal for that was the SpaceX IPO, which was the biggest short of all time.” YEN: “I've got that timing completely wrong… but I have my cash reserves, a lot of them, in Japanese Yen. I would say that we could see 110 to 120 on the Japanese Yen against the US dollar” MINERS: “I'm not in gold and silver at the moment, except for the miners” UK SMALL CAP: “I would say UK smaller companies are extremely attractive. You can see UK companies being picked off one by one, three or four a week, which is tragic, but hopefully there'll be other companies that come along and replace them, which is why I'm quite bullish on the UK. But we're talking there about PE ratios between 10 and 11, free cash flow yields of about 9%, dividend yields of four to 5%. It's extraordinarily attractive.” Timestamps: 0:00 Intro 2:25 US tech at tipping point 7:10 Strait of Hormuz less important than feared 9:27 Long UK North Sea plays 11:38 Fading most oil & gas longs 12:39 Debt LT problem not ST 15:28 US not the only risky bond mkt 17:41 Bullish on Yen still 23:22 Gold miners over gold/silver metal 26:07 Bullish UK small caps 29:46 The case for psychedelics 32:23 Novel proteins 39:12 Broad mkts trading heavy 41:49 Cheaper entry point ahead