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Ripple Effect

A Look at Gold’s Bad Rep

Loading ...Addison Wiggin

May 29, 2025 • 1 minute, 18 second read


gold

A Look at Gold’s Bad Rep

While gold keeps trending higher, it’s almost entirely been due to central bank demand.

That should make investors at least pause and consider what these banks know about the economy that they don’t.

Sadly, that’s not the case.

Even with two big years of double-digit performance behind it, the average investor isn’t interested in the metal itself, or in playing catch-up with gold mining stocks:

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It’s doubtful that U.S. investors will sit out the gold trade forever.

And until U.S. investors are over-allocating to gold, both the metal and mining stocks likely have more upside ahead.

~ Addison

URGENT, Read Before Firday’s Opening Bell

President Trump just handed you a GIFT.

But only if you accept it before Monday’s opening bell.

If you do…You could see this as one of the luckiest times of your investment life.

That’s because three forces are coming together to to create one of the biggest stock booms in history.

It could start as soon as Monday at 9:30am.

Click here to see why… and how to take advantage.

P.S. We’ve recently released new research on today’s markets, and how President Trump is following through on a Great Reset of the U.S. economy. This first phase isn’t pretty – we call it the Great Fire – of which gold can play a role for safety. Click here for more details on how it could play out.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)


Hedge Funds Crowd the “Sell America” Trade

February 10, 2026 • Addison Wiggin

Funds net sold U.S. equities for a fourth straight week, at the fastest clip since the opening chapter of the Trump trade war on April 2, 2025.

Despite that positioning, the indexes pushed higher on Monday.

Dip buyers stepped in after last week’s slide and nudged indexes back toward their highs.
Chipmakers gained ground, and a software ETF tacked on close to 7% across two sessions, a quick counterpoint to the sector’s recent purge. Sameer Samana at Wells Fargo Investment Institute described the move as the market’s reflex after steep selloffs—fast hands cover, slower money watches.

Hedge Funds Crowd the “Sell America” Trade
Bitcoin Approaches Its Final Million

February 10, 2026 • Addison Wiggin

Every ten minutes, the bitcoin network completes another block of transaction data. Another bitcoin miner seeks a reward.

The reward is cut in half every four years, thanks to the “halving protocol” which established the coin’s scarcity algorithm. Next month, total bitcoin supply will hit 20 million, leaving just 1 million left to be mined.

Bitcoin Approaches Its Final Million
Broad Market Rally Meet Narrowing Political Window

February 9, 2026 • Addison Wiggin

The Nasdaq logged its fourth straight down week, pulled lower by the “SaaSpocalypse” in software.

Goldman Sachs’ Software Basket fell 16% for the week. Hedge fund exposure to software shrank sharply, according to Prime Book data.

Lou Miller, Goldman’s global head of Equity Custom Baskets, told clients that buyers remained scarce even as the group entered oversold territory.

In the late 1990s, telecom infrastructure outpaced demand, pricing compressed, and equity valuations adjusted long before usage caught up.

Today’s AI buildout carries healthier balance sheets and real utility, yet capital intensity remains high, and patience wears thin when returns depend on perfect adoption curves.

Broad Market Rally Meet Narrowing Political Window
Correlation Breakdown

February 9, 2026 • Addison Wiggin

The week’s trading revealed that a rotation out of high-flying tech into defensive names is well underway. The Dow, which includes broader, non-tech-related stocks, is starting the week above 50,000 for the first time in its history.  

Correlation Breakdown