Make money doing the work you believe in

Hard assets thesis fine. Sizing is the problem. Silver, gold, copper all behave like macro betas, not insurance. Allocate inside a regime model, not on conviction alone.

China silver imports surged again.

None of us own enough hard assets.

H/t @zerohedge

tavicosta.substack.com/…

May 15
at
3:21 PM
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