The Competent Investor

David Hunter, Chief Macro Strategist with Contrarian Macro Advisors, maintains his highly bullish short-term outlook for equities, believing the stock market is in the final stages of a 44-year secular bull market that began in 1982. He anticipates a "melt-up" that could drive the S&P 500 to 10,000 and the NASDAQ to 36,000, representing a 30-35% gain compressed into just a few months. He...

Your host Tom Bodrovics, welcomes investor Eric Yeung, and Gold Fix partner Vince Lanci to discuss recent structural changes in China’s gold market, arguing that reports of China ending retail gold trading are inaccurate. Yeung clarifies that as of July 24, Chinese commercial banks are halting leveraged and forward gold contracts for retail customers on the Shanghai Gold Exchange (SGE). This move...

Luke Gromen, president of Forest For The Trees, discussed the challenging fiscal and monetary landscape facing the US once again with your host Tom Bodrovics. With national debt at $39.5 trillion and rising rates, Federal Reserve Chair Worsh confronts a constrained choice: allow treasury market dysfunction or weaken the dollar to manage mounting debt. Gromen argued that shifting issuance to the...

Rick Rule shared his observations from his recent Rule Symposium investment conference, noting a stark contrast in sentiment between different types of precious metals investors. Seasoned, wealthy participants who save in gold welcomed the 30% price decline as a buying opportunity, while newer adherents were unnerved. Among the high-quality exhibitors, there was uniform optimism, with the best...

Tom Bodrovics welcomes back commodity market specialist Rory Johnston for his analysis of the volatile state of the global oil market, focusing on the Strait of Hormuz, Chinese demand, and refining capacity disruptions. Johnston explains that following a recent memorandum of understanding, there was a temporary surge in oil transits through Hormuz as stranded tankers were released, creating a...

Tom welcomes Melody Wright, a housing analyst and strategist to the show. Melody describes the U.S. housing market as entering its fourth year of a "frozen" state, with combined annual sales volumes comparable to 2008 levels despite a 20% population increase. National statistics mask significant regional disparities: home prices are declining in the South and West, while the Northeast and Midwest...

In this interview, your host Tom Bodrovics and senior portfolio manager Jaime Carrasco analyze the recent volatility in precious metals, framing it as a typical and expected part of a secular bull market driven by a fundamental global monetary shift. Carrasco argues that gold is money and everything else is credit, with the current fiat currency system in terminal decline. He points to rising...

Veteran commodities trader John Johnston, also known as JJ, provides a detailed rebuttal to the prevailing narratives of oil market scarcity, arguing that the recent price volatility was a paper-driven phenomenon disconnected from physical realities. He explains that the price spike to $120 in March was fueled by the purchase of 750 million barrels worth of futures contracts in a short period, a...

Recorded on: June 29, 2026Jesse Felder highlights a striking divergence in oil markets: physical inventories, including the Strategic Petroleum Reserve, have plunged to multi-decade lows while demand hits records, yet institutional investors hold the most bearish positioning ever. This contrarian setup is amplified by the AI frenzy, which has drained interest from energy—despite the sector’s...

Tom welcomes investor Robert Sinn to the show. Robert attributes the recent sharp sell-off in the gold and mining sector primarily to a strengthening US dollar and rising interest rates, describing the current environment as a "perfect negative storm" for junior miners. He notes that sentiment has reached extreme negative levels, comparable to the March 2020 and October 2022 lows, with technical...