Jan van Eck

speaker

382 appearances 1 recordings 1 series first heard May 2026 last heard 27 May

Jan van Eck’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in May 2026 with 1.

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The Master Investor Podcast with Wilfred Frost · Memory Is A Bubble, But Nvidia Protected – Jan Van Eck On Semis Surge · 27 May 2026 podcast

I think the reason that our way of looking at the markets with this 10-year view

can works is because humans have this bias towards looking backwards and and when big trends happen whether it's the rise of a country or the rise of a major technology we just can't look backwards the last prior quarters of company earnings or a prior use of technology to really understand the scale of the of the build out now that's not always true there are a lot of fake

fads and technologies that don't play out, but this is one that clearly is grabbing all global markets by the throat and shaking them up.

Well, what I would say within the AI ecosystem, Wilfred, there are bubbles, to use a word, that probably don't like that much, right?

So going back to the end of last year, the question was, what was the financial sustainability of the open AI ecosystem, right?

Open AI, as Chad, it's one of the leading model companies, was clawed, going to leapfrog it.

And so the companies in the open AI ecosystem, I call it, I mean, that's obviously only a very loose description, Oracle that had leveraged into building compute for them, and CoreWeave were both down 50%.

So even within this sort of broader trend, you will find pockets, or that was a company-specific pocket,

To your question, I do think that the memory-specific pocket is a moment in time.

You know, one hates to call a top when something is like this.

But I personally am wary about the memory stocks because in the medium or long term, they don't have quite the competitive moat.

I believe that NVIDIA does.

And so I think entrants will come into that memory.

There's no doubt there's a shortage right now.

And that's giving them pricing power.

Most of the reason that their profits are exploding is not because they're selling a lot more.

They have limitations.

It's because they have increased their prices.

And that means that other companies that use that memory are going to be looking to economize on the use of it.

So I'm with you.

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