🎙️ NEW PODCAST WITH CHRIS AND BRAD
Chris and our head trader, Brad McFadden, joined Danny on the CapitalCosm show to discuss some of the most pressing macro events right now as well as the opportunities they’re most excited about.
Here’s just a few of the topics the gents discussed:
- The one — and, dare we say, only — edge that everyday investors have over large hedge funds and big capital allocators.
- Another round of Trump tariffs? Escalating conflict in the Middle East (and the potential for global energy market disruptions)? Why we don’t let headline-grabbing geopolitical events dictate our investment decisions (as Chris put it: these types of events are inevitable, but they’re not required for our theses to play out).
- The asymmetry in gold: despite gold prices flirting with all-time highs, there’s still a way to capitalize on the bull market.
- Why bond yields are on the rise — not just in the US, but around the world.
- Chris’ relationship counseling corner: the danger of treating your portfolio like a marriage (they’re not your wife or husband — they’re just equities).
- Three fundamental reasons we remain bullish on platinum — even after its price has surged more than 50% this year.
Plus, a whole bunch more. Click here to listen to the entire conversation on Youtube.
₿ WHAT’S UP WITH BITCOIN?
With Bitcoin now breaking out to new highs, we’ve been getting more comments and questions from Insider members about our take on the grand poobah of crypto.
Since we’re not currently holding Bitcoin in the Insider portfolio, one might reasonably conclude that we don’t like it. But as long-time readers (and members) will probably know — we’re not anti-crypto by any means.
At a very minimum, it would be intellectually lazy not to at least be curious about one of the best performing assets in history — as Chris pointed out the other day.
We actually recommended Bitcoin in Insider way back in 2016, when it was “just” $645 and then got out of the trade in April 2021 at $54,000 and a change (for a 83x gain).
Do we have any regrets about not getting back in, and missing out on another run? Not really. And here’s why…
In Insider, our focus is exclusively on publicly-traded equities.
But with all the monetary and fiscal insanity we’ve witnessed over the past couple of years, it’s become obvious that Bitcoin is a unique hedge — along the lines of physical gold.
As such, it’s a smart idea to hold some of one’s assets in Bitcoin (or gold for that matter). Plus, another important point…
With the Blackrock, Fidelity, and other pointy shoes getting involved with crypto lately, it’s never been more critical to own Bitcoin directly (if you’re a recent member interested to learn more, we published an entire series of crypto guides and video tutorials over the years that cover that topic).
The way we see it, Bitcoin’s value lies not in its market price, but in its decentralization and the ability to self-custody the asset.
🇬🇷 ΕΛΛΗΝΙΚΕΣ ΜΕΤΟΧΕΣ
While on the topic of chart-busting assets…
Can you guess the best performing stock market so far in 2025? And no, it’s not the US, despite the recent rally and Nvidia being the first company ever to hit a $4 trillion market cap.
Instead, it’s Greece — up 57% so far this year (h/t @MikeZaccardi for this table).
Good luck hearing anything about Greek stocks in the popular press — even after this recent run. It’s certainly not a topic that will impress anyone at a cocktail party (in fact, try bringing them up and then watch people around you swiftly retreat to the bar for a refill).
And to be fair, for a long time, Greek stocks were a tragedy in a true sense of the word. After crashing spectacularly during the GFC and the Eurozone crises, Greek stocks were effectively left for dead by investors.
But one truism that served us well over the years in the markets is that things merely have to go from bad to less bad to make money. And as we pointed out back in October last year, in a note just like this one…
Something rather bullish seems to be developing in the Greek stock market. In fact, it reminds us a lot of the Argentinian stock market a couple of years ago.
And at Insider, we added Greek stocks to our portfolio a few months prior for two reasons:
- They were cheap as chips at the time — one of the least expensive equity markets on the planet; and
- Our logic was also that because 99.9% of investors wanted nothing to do with Greek stocks, they probably also had little correlation with what happens in the S&P 500.
One might argue both things still hold true today.
🧘♂️ THE ART OF DOING NOTHING
We came across this book quote (h/t @QuintenFrancois)…
It reminds us of something the late Charlie Munger once said:
You don’t make money when you buy and you don’t make money when you sell. You make money when you wait.
In today’s world dominated by algorithms and 24/7 trading, patience (or “sit-on-your-ass” investing, as Munger called it) truly is a lost art.
With the kind of investing we do here at Capitalist Exploits, one “just” has to have the balls to buy at the point of maximum pessimism and then have the patience (aka the ability to put your head in the sand for years on end) to let Mr. Market realise the true value.
Granted, this is not always easy, and it can take much longer than one would expect.
But as the saying goes, good things take time! Who would’ve thought that investing and cheese making have so much in common?
👕 OUR SWEATSHIRT FOR THE BITCOIN LOVERS
You can check out all our merch here.
Have a great weekend!
