Ferg's Finds

This is a short weekly email that covers a few things I’ve found interesting during the week.

Article(s)

I really enjoyed this interview, which touched on a few points I’ve been pondering: "The gold bull market has only just entered the second half." - Ronald-Peter Stöferle

The above also leads nicely into this piece: When will platinum regain its rightful place as the most valuable precious metal?

Platinum looks to me to be in the process of closing that gap.

Podcast/Video(s)

This is a classic that I try to rewatch regularly: Modern-Day Asset Management Business w/ Anthony Deden

Quote(s)

“In a democracy, we have always had to worry about the ignorance of the uneducated. Today we have to worry about the ignorance of people with college degrees.”

– Thomas Sowell

Tweet/notes

I’m lucky to call Asymmetry a friend and have enjoyed his Tweets, particularly this one, as I think a lot about how to educate Hugo in a way that sets him up for success.

Charts

There were some great charts in this piece: Myth-Busting: Equities Are an Inflation Hedge.

Something I'm Pondering

I’m pondering how IEA always misses developing market growth in energy demand aka “missing barrels,” and how, with the current setup of a weak USD, cheap energy and China and Europe stimulating, they are likely to get run over in a big way over the next 1-2 years.

Here is a reminder from Goehring & Rozencwajg on the IEA’s track record on oil demand.

The IEA’s coal demand forecasts share similar accuracy to oil.

I hope you’ve all been having a great week.

Cheers,

Ferg

P.S. I’m grateful for Ben at Kontrarian Korner having me on his show recently; definitely check out his Substack, as he’s been knocking out some great interviews and work on Sable Offshore.