Core Insights - A significant shift is occurring in the investment landscape, with gold miners outperforming tech stocks like Nvidia, indicating a migration of capital from overvalued financial assets to undervalued commodities [1][4][6] Group 1: Performance Comparison - Gold miners, tracked by the VanEck Gold Miners ETF (GDX), have surged by 93%, while silver miners, tracked by the Global X Silver Miners ETF (SIL), increased by 90% [3] - In contrast, Nvidia's stock, part of the Magnificent Seven, only rose by 14%, highlighting a stark divergence in performance [3] Group 2: Market Dynamics - The current market environment is characterized by sticky inflation, potential Federal Reserve rate cuts favoring hard assets, and geopolitical tensions driving gold prices towards $4,000 per ounce [4] - The market cap of Nvidia, at $4.34 trillion, significantly overshadows the combined market cap of all copper, gold, and silver producers, suggesting a potential for a painful correction in Nvidia's valuation [4] Group 3: Energy and Future Outlook - Nvidia's growth is hindered by an energy infrastructure that is "50 times smaller" than what is required for mega data centers, raising concerns about its sustainability [5] - Uranium and nuclear stocks, currently undervalued, are positioned as potential future leaders in energy supply, contrasting with Nvidia's high market cap [5] Group 4: Investor Sentiment - Despite gold reaching all-time highs, massive ETF outflows indicate that retail investors have not yet fully engaged, suggesting further upside potential for gold [6] - The prevailing sentiment among savvy traders is to pivot from Nvidia hype towards investing in hard assets like gold, as the market signals potential stagflation and debt crises [6]

Just theoretically speaking out loud hereIf job market is bad, worse than they are initially letting onAnd the fear of recession is seriously in playThen wouldn't hard assets that are counter to the dollar increase?Things like crypto + gold?Gold already catching a HUGE bid.But sadly Crypto trading way more in-line with the equities marketWe wanted trad-fi capitalWe didn't want trad-fi pegged prices. ...