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Wellum’s Warning: The Tech Boom Is Starting to Crack

Everyone wants exposure to AI, SpaceX, and the next generation of technology leaders. But Jonathan Wellum warns that even great businesses can become terrible investments when investors pay too much. As excitement around mega IPOs, AI infrastructure, and private-market giants reaches a fever pitch, Wellum explains the one question every investor should ask before chasing the next big thing: Are you buying a real business—or paying for a dream? 💡 Worried about what this tech-driven future means for your money? Get a free portfolio review with Wealthion’s trusted financial advisors: https://bit.ly/3SeIVGz 💡Attend Rick Rules’ Natural Resource Symposium in Boca Raton this July, click here for in-person and virtual tickets: https://cvent.me/XOqdLa?via=Wealthion Chapters: 00:00 AI Hype, IPO Mania & Market FOMO 01:54 Are Investors Overpaying for the Future? 05:10 Why New Tech Is So Hard to Value 09:29 The Dot-Com Bubble Warning 11:19 Survivor Bias & The Companies That Don’t Make It 13:33 The Hidden Risk in Mega IPOs 15:54 Space, AI & Execution Risk 17:33 What Value Investing Really Means Today 20:33 Where Wellum Sees Value in Big Tech 24:18 Cheap Stocks vs. True Value 25:45 The Value Investing Book Every Serious Investor Should Know Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement #StockMarket #Markets #AI #TechStocks #IPOs #Bubble #MarketBubble #DotComBubble #FOMO #ValueInvesting #PortfolioStrategy #RetirementPlanning #JonathanWellum #MaggieLake ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Henrik Zeberg: The Final Melt-Up Before Everything Breaks

Henrik Zeberg says the market’s most dangerous phase may still be ahead — a final, violent melt-up that could send risk assets sharply higher before the entire cycle turns. In this interview, Zeberg lays out why he believes investors are being pulled into the last stage of the bull market, why the Nasdaq could still surge, and why the endgame may be brutal: recession, deflation, collapsing risk assets, and a rush into cash. This is not a soft landing call. Zeberg argues the “everything rally” may be the trap — and that when it breaks, there may be nowhere to hide. Watch before the melt-up turns into the crash. 💡If Henrik Zeberg is right, the next phase could be a final market melt-up before a brutal downturn — making now the time to pressure-test your portfolio. Get a free review with Wealthion’s trusted financial advisors athttps://bit.ly/4vm8JPC 💡Attend Rick Rules’ Natural Resource Symposium in Boca Raton this July, click here for in-person and virtual tickets: https://cvent.me/XOqdLa?via=Wealthion Chapters: 0:00 The Calm Before The Crash 0:39 Henrik Zeberg Joins Maggie Lake 1:12 Weak Economy, Largest IPO, Largest Bubble 2:13 Dot-Com Bubble Appetizer, 2008 Main Course 3:04 Why Today’s Tech Bubble Looks Extreme 4:05 AI, Layoffs & The Jobs Risk 5:43 Is There Still Runway Before The Top? 6:15 Zeberg: Nasdaq Could Rise Another 15% 7:31 Why This Looks Like The Final Melt-Up 9:11 Zeberg’s Nasdaq Target: 33,000–34,000 10:09 The Last 20% Makes People Crazy 11:45 How The Final Melt-Up Spreads 13:38 The Black Swan Risk In Private Credit 14:41 The $1.7 Trillion IPO Warning Sign 15:55 Why Rotation Won’t Save Investors 16:55 The U.S. Consumer Is In Serious Trouble 17:40 The Jobs Market Mirage 20:38 Why Bonds Haven’t Reacted Yet 21:08 Zeberg: The Fed Is Way Too Late 22:14 Why This Is Not 1970s Inflation 23:39 Bond Yields As A Late-Cycle Warning 25:17 Crypto’s Final Risk-On Surge 28:50 Gold & Silver Had Their Time In The Sun 30:13 Zeberg’s Bitcoin Target 31:09 Why This Could Be Worse Than 2008 35:32 Private Credit, Deflation & The Crash Setup 37:29 Zeberg: Market Top Could Come In Q3 39:39 Where Can Investors Hide? 40:40 Why Gold And Silver Could Fall First 41:14 Zeberg’s Safe Haven: Dollar & U.S. Bonds 42:38 The Next Inflationary Regime 43:42 Final Thoughts Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #HenrikZeberg #MarketCrash #MeltUp #StockMarket #Nasdaq #Macro #Recession #Deflation #Bitcoin #Crypto #Gold #Silver #Investing #Finance #PortfolioReview #FinancialPlanning #wealthmanagement ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Howell: AI Will Fuel Inflation, And Markets Aren’t Ready

Michael Howell, Managing Director at GL Indexes, warns that the global liquidity cycle is rolling over — just as AI spending, inflation pressure, Treasury stress, and China’s gold strategy are reshaping markets. In this interview with Maggie Lake, Howell explains why AI may be inflationary before it becomes deflationary, why the U.S. economy is pulling liquidity out of financial markets, and why investors may be moving from “speculation” into a more dangerous phase of the cycle. He also breaks down why he believes China is the real force driving gold, how crypto is flashing a liquidity warning, and why the Fed’s 2% inflation target may be fantasy. This is a must-watch for investors trying to understand what comes next for stocks, bonds, gold, Bitcoin, oil, and real assets as liquidity tightens and inflation risk return 💡Michael Howell says the global liquidity cycle is rolling over, AI may add to inflation pressure, and investors may be moving from speculation into turbulence. Is your portfolio prepared for what comes next? Get a free review with Wealthion’s trusted financial advisors at https://bit.ly/43ghr5z 💡Michael Howell says investors are moving into a world of inflation pressure, liquidity stress, and growing demand for scarce real assets — from gold and energy to commodities and productive resources. Want access to exclusive real-assets research and interviews? Join Wealthion’s Real Assets Community: https://bit.ly/4ufoJRY 💡Attend Rick Rules’ Natural Resource Symposium in Boca Raton this July, click here for in-person and virtual tickets: https://cvent.me/XOqdLa?via=Wealthion Chapters: 00:00 — The Market Has Left Calm Behind 00:25 — Michael Howell: Liquidity Is Rolling Over 02:04 — Money Is Leaving Markets for the Real Economy 03:33 — China Hits the Brakes on Liquidity 05:59 — The Economy Is Buzzing — So Why Are Markets at Risk? 07:44 — The Bond Market Problem Investors Are Missing 12:27 — AI’s Inflation Shock 15:40 — Why the Market Is in the Speculation Phase 21:02 — Gold, Bonds & the New Safe-Haven Fight 23:35 — China Is Driving the Gold Market 31:09 — Could China Control Oil Next? 36:09 — Why Inflation Risk Is Mispriced 37:23 — Bitcoin Is Flashing a Liquidity Warning 39:48 — Why Stocks and Bonds Can Both Struggle 41:25 — A 1970s-Style Inflation Warning Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement #MichaelHowell #GLIndexes #GlobalLiquidity #LiquidityCycle #Liquidity #MacroEconomy #Markets #StockMarket #Bonds #TreasuryMarket #Inflation #Fed #FederalReserve #AI #ArtificialIntelligence #Gold #GoldMarket #China #Bitcoin #Crypto #Oil #Commodities #RealAssets #PortfolioStrategy #marketvolatility ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Dollar System Is Losing Trust — Gold’s Monetary Reset Has Begun

Ronnie Stoeferle, partner at Incrementum AG and co-author of the In Gold We Trust report, joins Wealthion’s Trey Reik to explain why gold’s rally may be about much more than a normal bull market.Stoeferle argues that gold is signaling a deeper loss of trust in the dollar-based monetary system, as de-dollarization, inflation volatility, central bank buying, and rising geopolitical risk reshape the global financial order. He also explains why gold may be entering the public participation phase of its bull market — with institutional investors only beginning to wake up to the role gold can play in portfolios.In this conversation, Ronnie and Trey discuss whether the Pax Americana is coming to a close, why fiat currencies look different when measured in gold, whether this is a monetary revaluation rather than a normal gold cycle, and what the In Gold We Trust report reveals about the future of money. 💡Ronnie Stoeferle says gold’s rally may be signaling something much bigger than a normal bull market — a shift in trust, inflation, and the global monetary order. For deeper real-assets research and more of this interview on gold, commodities, and hard-asset investing, join Wealthion’s Real Assets Community: https://bit.ly/4vmK3Gb 💡Attend Rick Rules’ Natural Resource Symposium in Boca Raton this July, click here for in-person and virtual tickets: https://cvent.me/XOqdLa?via=Wealthion💡 To receive the In Gold We Trust report, sign-up and subscribe to IGWT for free at https://bit.ly/49BWl5j Chapters:00:00 Cold Open: Gold, Bitcoin & Monetary Revaluation00:49 Introducing Ronnie Stoeferle & In Gold We Trust03:24 Why Gold Is Really About “Everything Else”04:52 Back To The Monetary Future: Why History Matters06:48 De-Dollarization & The Erosion Of Trust09:04 Gold’s Surge & The Dollar’s Loss Of Purchasing Power11:33 Gold Vs. Fiat: The Charts Investors Need To See12:44 Dow Theory & Gold’s Public Participation Phase15:58 — EXCLUSIVE Why Gold Is Not In The Mania Phase Yet18:49 — EXCLUSIVE FOMO, YOLO, Gonzo & The HALO Trade22:28 — EXCLUSIVE Is The Commodity Supercycle Finally Here?27:21 — EXCLUSIVE The Five Pillars Supporting Gold’s Bull Market35:53 — EXCLUSIVE Kevin Warsh, The Fed & Gold’s Next Catalyst43:53 — EXCLUSIVE The Six Vectors Of Gold Remonetization51:32 — EXCLUSIVE Gold, Bitcoin, Miners & The Future Of Hard Assets Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #InvestmentAdvice #FinancialPlanning #WealthManagement #Gold #GoldInvesting #PreciousMetals #Commodities #Inflation #Dollar #DeDollarization #HardAssets #RealAssets #Markets #Macro #MonetaryReset ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

The $3.5 Trillion IPO Wave That Could Shake the Entire Market

SpaceX is preparing for one of the biggest IPOs in market history — and OpenAI and Anthropic may not be far behind.In this interview with Wealthion’s Maggie Lake, WindRock Wealth Management founder Brett Rentmeester explains why this is not a normal IPO cycle. These companies are already so large that they could become major components of the S&P 500, potentially affecting investors whether they buy the IPOs directly or simply own index funds.Brett breaks down the risks for retail investors, why most people may not get access to the actual IPO price, how lockups and insider selling can create pressure, and why trillion-dollar valuations leave little room for error.For investors chasing the next big tech trade, Brett’s warning is clear: this IPO wave may create huge opportunity — but it may also bring major market risk. 💡Brett Rentmeester says this IPO wave could affect investors whether they buy these companies directly or simply own index funds. To understand how your portfolio may be exposed, get a free review with Wealthion’s trusted financial advisors at https://bit.ly/4nXV9il 💡Attend Rick Rules’ Natural Resource Symposium in Boca Raton this July, click here for in-person and virtual tickets: https://cvent.me/XOqdLa?via=WealthionChapters:00:00 Cold Open: The $3.5 Trillion IPO Wave00:28 SpaceX, OpenAI & Anthropic Set Up a Blockbuster IPO Year01:31 Why This IPO Cycle Is Different02:11 The IPO Market Has Changed Since the Dot-Com Era02:40 SpaceX Is Already 24 Years Old03:09 Could These Companies Join the Top 10 of the S&P 500?03:31 A Potential $3.5 Trillion Market Impact04:02 Why This Could Affect the Entire Stock Market05:23 How Bankers Price Mega-IPOs06:39 The Tesla IPO Comparison07:30 The Risk of Buying Late in the Growth Cycle08:04 Why Retail Investors May Not Get the IPO Price09:32 IPO Hype, Traders & Herding Mentality10:05 Why Some Investors Avoid the First Few Trading Days12:05 How Public-Market Scrutiny Changes the Game13:13 Why These Names Could Drive Index Funds14:50 Lockups, Insider Selling & Post-IPO Pressure16:14 Young Wealth, Innovation & the Next Market Leaders18:39 Fast-Track Index Inclusion and Passive Investor Exposure20:31 Active Management vs. Index Fund Risk21:12 Could Mega-IPOs Drain Capital From the Rest of the Market?21:58 Animal Spirits, Valuation Risk & the AI/Space Economy22:52 Don’t Get Married to the NarrativeConnect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement #IPO #IPOs #IPOInvesting #StockMarket #Markets #TechStocks #PrivateMarkets #PublicMarkets #SpaceX #OpenAI #Anthropic #ArtificialIntelligence #AI #IndexFunds #SP500 #PassiveInvesting #ActiveManagement #RetailInvestors #MarketRisk #PortfolioStrategy #AssetAllocation #InnovationInvesting ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices