“Oil Looks Even More Attractive Than Gold Right Now” says Portfolio Manager Tavi Costa

“Oil looks even more attractive than gold right now” says portfolio manager Tavi Costa of Crescat Capital. Tavi Costa shares that even though he expects gold over $2900/oz and silver touching over $40/oz before year-end 2024, he is even more bullish oil and possibly other non-precious metals. A year from now, Tavi sees inflation running significantly higher while the Federal Reserve refuses to rate interest rates. When this happens, metals and commodity prices will run higher, he anticipates. Tavi also reveals Crescat’s approach to portfolio allocation in the mining sector.

Tavi is a Member and Portfolio Manager at Crescat Capital and has been with the firm since 2013. He is responsible for developing Crescat’s macro models as part of our thematic investment process. His research has been featured in financial publications such as Bloomberg, The Wall Street Journal, Reuters, Yahoo Finance, Real Vision, and others. Tavi is a native of São Paulo, Brazil and is fluent in Portuguese, Spanish, and English. Before joining Crescat, he worked with the underwriting of financial products and in international business at Braservice, a large logistics company in Brazil. Tavi graduated cum laude from Lindenwood University in St. Louis with a B.A. degree in Business Administration with an emphasis in Finance and a minor in Spanish. Tavi played NCAA Division 1 tennis for Liberty University.

0:00 Introduction

1:01 US Interest Payments

4:18 Foreign ownership of US Debt

9:59 CBDCs role in the future

17:45 Mieli Effect?

24:46 Is Brazil the next economy to truly emerge?

27:15 Tensions in the Middle East

28:44 Silver

29:54 Oil is more attractive than gold now

31:15 AI potentially fixes USA debt problem

34:46 Inflation vs Metal Prices

41:13 Crescat Portfolio Allocation

48:44 Gold Price above US$2900/oz?

49:09 Silver Price above US$40/oz?

50:38 Crescat’s Live Market Call