Ozan Tarman on What's Driving The Nonstop Rise in Gold and Tech
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What is the main topic discussed in this episode?
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Hello and welcome to another episode of the Oddlots Podcast. I'm Jill Weisenthal.
And I'm Tracy Alloway.
Tracy, every day. Feels like stocks and gold go up. Every day, stocks and gold and stocks and gold and it's just it's relentless.
I'll tell you what, it's good for anyone invested in an index fund and a bunch of gold coins that their dad gave them.
Yeah, good for you.
Yeah, thank you.
The Tracy Alloway portfolio doing very well. Yeah.
Yes. No, you're absolutely right. And the big thing about this is it's not really supposed to happen, right? Like you're not supposed to see stocks shoot up because of optimism about the future while gold simultaneously goes up because gold traditionally is this sort of dour yellow rock as you like to describe it, which usually signals something bad is about to happen.
I'm gonna relent. I'm gonna relent out of something. Are you
a gold bug now?
No. Well, I'm gonna relent on something.
Okay. Here we go.
I admit that gold is a medal. This is my big cave. I always no longer a rock. Yeah. This is my big cave. I used to say, Oh those yellow rocks. You know what? I'll acknowledge it's a metal.
If it's a metal now, will you admit that it has industrial application? I mean,
yeah, but they're very minor. And this is also I will not acknowledge that there is a I it is mainly a store of value or perceived to be. And when people are fearful, when people are mistrustful, when people don't trust fiat currencies or the governments, and there's all kinds of reasons to be skeptical about the governments that issue paper currencies. I understand why people want to hold this medal that people have used as money for thousands of years. Yeah.
I'm gonna take you back to the jewelry district in New York and get you more excited about gold again.
No, and I'll just say on gold, I loved it and and no, I wore that big chain when we went to the diamond district and I wish I'd bought it. Like 'cause now that's like my big regret. It was like thirty five thousand dollar gold necklace and that today would probably be a forty five or fifty thousand dollar gold necklace.
Imagine how much that diamond encrusted Furby would be worth.
This is the thing they don't tell you about gold, by the way. If you spend ten thousand this is my crank take on gold. That's not crank. If you spend ten thousand dollars on a gold necklace, they give you a ten thousand dollar gold necklace.
Yes.
It's free. They vate it's like you spend ten thousand dollars, they give you something for a ten thousand dollars back. In a sense, it's a free transaction.
No, you get two things. You get something to wear and an investment.
Yeah, you actually yeah. I wish I had had this realization when gold was like two hundred dollars an ounce, but anyway. It took me a while.
We'll make a gold bug of you yet, I'm sure.
So these are really exciting wild times in the market. And um, the last time uh we talked to this guest was another wild time and an exciting time in the market. That was, of course, April. We do, in fact, have the perfect guest to try to understand everything that's happening all around the world in global macro. We are going to be speaking with the vice chair of global macro at Deutsche Bank, Ozan Tarman. Ozan, thank you so much for coming back on Oddlots.
Why are gold and US tech stocks rising together right now?
Last time we talked to you, we in London. This time you're in New York. So thank you for coming to visit us.
Very good to be in New York. Uh I love to be on this show. I mean honored to be invited again. Unga Mercudinners, this is the highlights.
Yeah.
Thank you. And by the way, I was going to bring my uh United Amamim jersey.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–3:39
2
Why are gold and US tech stocks rising together right now?
3:39–6:27
3
What is causing the loss of confidence in the US sovereign and boosting gold demand?
6:27–14:58
4
How is the Nvidia‑Microsoft‑Apple “Magnificent Seven” rally influencing market sentiment?
14:58–24:49
5
Why are investors hedging their exposure to US equities despite a strong stock rally?
24:49–41:59
Speakers
8 identifiedMore from Odd Lots
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