Bizarro World Podcast,
with Nick and Gerardo
Dec. 15, 2025
Editor’s Note: Tonight (December 15th) at 8pm ET we’ll be holding an event about private placement opportunities. We have just 100 spots left at Private Placement Intel, and expect to fill them in short order. We’ll be offering the chance to participate in a private uranium deal alongside us. Click here to register before it’s too late.
The free version of the 345th episode of Investing in Bizarro World is now published.
Here’s what was covered:
Macro Musings - Silver stole the show again — ripping to $64 and putting a $70+ handle firmly on the table, especially with volatility collapsing. Copper remained a co-star, holding ~$5.48/lb and ~$11,500–$11,600/ton, with banks now openly talking about $12,000+/ton in 2026 to incentivize new supply. Gold remained strong in the background, framed as part of a broader “assets are headed higher” setup driven by the same forces we’ve been talking about all year. On the macro side, we hit the key “algorithm vs. real life” distinction again: the Fed cut 25 bps, inflation is “cooling” in the sense that the rate of change is coming down (rent measures softening; gasoline/diesel trending down), and that’s enough cover for more cuts next year — especially with Powell out in May and the expectation of a more compliant chair. We also flagged renewed balance-sheet expansion via T-bill buying/QE, alongside a softening dollar (DXY ~98) — all of which is fuel for precious metals and the junior end of the market.
Market Takes - We’re now in the “next phase” of the bull market: silver outperforming gold, juniors starting to outperform producers, and “other metals joining the party.” The punchline: a lot of demand growth (AI/data centers and the grid buildout) still isn’t fully captured in models — which is why “$7–$9 copper” doesn’t sound crazy in a world where people also couldn’t see $64 silver coming. There is still value in uranium and lithium (less loved versus precious metals right now), plus underfollowed explorers and “known-ounce” stories with the right team finally in place. A standout point was JPMorgan’s positioning shift — from being a major silver short to being meaningfully long — as part of what’s helped accelerate silver’s move.
Bizarro Banter - We hit hard on institutional rot this week: Epstein/Larry Summers, the credibility gap around promised disclosures, and the broader theme that “law and order” messaging is selectively applied while powerful institutions and individuals skate. We also hit the Catholic Church settlements/abuse scandal angle (NYC numbers being floated as a mediation starting point; other big settlements cited), and tied it back to the ongoing nature of these issues — not “something in the past.”
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0:00 Introduction
1:05 Macro Musings: Uranium Placement. Silver Breakout. Fed Cuts. CPI vs Reality.
16:41 Market Takes: Copper Supply Crunch. Silver to $70? VIX Collapse. Uranium & Lithium Value.
27:27 Bizarro Banter: Epstein Files. Larry Summers. Institutional Rot. Church Abuse Scandals.
45:16 Premium Portfolio Picks: (You need to subscribe to Bizarro World Live to get this section)
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