The Noble Update Podcast

George Noble
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Curating The Latest Deep Dive Investment Insights georgenoble.substack.com

  1. 2D AGO

    Bring on the Liquidity | Nobody Special, Robert, Joe Carlasare

    1. Strategic Actions and Decisions * Monitor Hyperscaler CapEx for the Market’s “Reverse Gear”: The first major cut in capital expenditures by Microsoft, Amazon, Meta, or Google will likely end the current AI-driven rally. Jack argues this is the key signal to watch, as none of this has been priced in. [00:17:20] * Avoid Chasing Gold and Silver as Short-Term Trades: Do not buy precious metals while they are trading in lockstep with high-risk tech stocks. Jack notes that the same speculative money driving AI pumps is currently inflating gold, meaning a market correction will drag both down. [00:23:39] * Rotate Energy Holdings Away from Middle East Exposure: Focus on North and South American energy producers rather than global majors. Geopolitical instability and physical supply disruptions in the Strait of Hormuz make Middle East-exposed assets significantly riskier. [00:58:00] * Prepare for Middle East Sovereign Funds to Sell US Assets: GCC countries are likely to become net sellers of US stocks and bonds to fund war repairs and revenue shortfalls. This liquidity drain removes a key pillar of demand for the AI and data center buildout. [00:59:16] * Flag Flagstar Bank (NYCB) as a Systemic Risk: Flagstar Bank’s $14.6 billion exposure to NYC rent-controlled apartments is a ticking time bomb. A June 2026 vote on a rent freeze could trigger mass landlord defaults and reignite the regional banking crisis. [01:27:54] 2. Executive Summary In this episode, I sit down with Jack, Robert, and Joe to dissect a market that is rallying on nothing but hot air. Jack and I see dangerous parallels to 1999 and 2021, pointing to AI pivots by failed companies and a $930 billion data center buildout with zero profits. Robert offers a contrarian view, bullish on TLT and long-term Treasuries, citing weak consumer growth and record short interest. Joe warns that domestic political instability and potential election disruptions are flying under the radar. Geopolitically, the Middle East conflict is strangling energy supplies, and I expect sovereign wealth funds to sell US assets, pulling the rug from under the AI bubble. While long-term bullish on gold due to fiscal deficits, I caution it is currently trading as a risk asset and will fall with tech in the short term. 3. Key Takeaways and Practical Lessons 1. Narratives are Liquidity, Not Truth: The market is trading false social media posts about peace as gospel, even when fighting resumes hours later. Fundamentals are irrelevant until the flows reverse. * Practical Lesson: Do not short a market just because the news is fake. Wait for a confirmed CapEx cut from a hyperscaler or a technical breakdown before acting. 2. AI Has Generated No Profits, Only Losses: The $930 billion data center buildout has cost more than the US Interstate Highway System, yet the industry has not seen its first lick of profit. The only winners are hardware sellers. * Practical Lesson: Avoid any company that “pivots to AI” overnight. These are often the same scams from the 2021 cycle, such as MyKim (formerly Dat yet). 3. Fragmentation is Inflationary: The weaponization of energy and breakdown of global supply chains will keep inflation structurally higher, regardless of Federal Reserve policy. * Practical Lesson: Hold gold and Bitcoin as long-term hedges, but buy them during risk-off sell-offs rather than chasing them during tech-driven rallies. 4. The Commercial Real Estate Crisis Was Never Solved: The banking system simply papered over CRE losses with loan extensions and “extend and pretend.” Those loans are now maturing. * Practical Lesson: Watch Flagstar Bank closely. If NYC freezes rents in June 2026, expect a cascade of landlord defaults and potential regional bank failures. 5. Negative Real Yields Make Hard Assets the Only Safe Haven: The US government cannot afford to let long bond yields spike given $40 trillion in debt. Financial repression or yield curve control is likely coming. * Practical Lesson: In a negative real yield environment, sell bonds into any rally caused by “growth scare” narratives and rotate into gold, silver, and Bitcoin. Follow Nobody Special on X here - @JG_Nuke Follow Joe Carlasare on X here - @JoeCarlasare Follow Robert on X here - @infraa_ Watch on Youtube Below - This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    1h 32m

  2. 4D AGO

    Donald Trump - Liz Truss would like to have a word with you | Russell Clark

    1. Strategic Actions and Decisions * Ignore Geopolitical Headlines and Focus on Structural Trends: The market can only focus on one thing at a time. Ignore the noise because “the real story” is the rising cost of capital. [00:28] * Avoid Crowded Shorts and Borrow Costs Above 2%: Never short “dream” stocks like Tesla. “If the borrow cost is over 2%, it’s not worth the short.” Crowded shorts create a situation where only buying is possible because long holders are locked up. [28:21] * Short Long-Dated Treasuries (TLT) as a Core Hedge: The primary risk is a spike in long-term bond yields. Use short TLT as a hedge because “if Treasury yields went to 10%, everything’s a short.” Wait for a big rebound to add to shorts rather than covering into a crash. [35:15] * Monitor Hedge Fund Basis Trades in Treasuries for a Liquidity Crisis: Foreign official buying of Treasuries has been replaced by hedge fund basis trades. “At some point, you’ll get a shock to the Treasury market... which then creates a margin call crisis,” similar to the UK gilt market in 2022. [38:35] * Maintain Long Gold (GLD) Against Short TLT, Not the Other Way Around: Most people view it as long gold hedged with short TLT, but the stronger view is to hate TLT. A Treasury crisis will force a central bank bailout, and “gold will explode because of the liquidity injection.” [44:05] 2. Executive Summary In this episode, I sat down with my friend Russell Clark to cut through the geopolitical noise on Iran and oil. Clark argues the real story is structurally rising global capital costs driven by a political shift back toward labor. While wage inflation and fiscal spending have fueled equities, the government cannot tax enough, leaving a widening deficit. Foreigners no longer buy Treasuries willingly; hedge funds using leveraged basis trades have replaced them. Clark runs a paired trade: long gold (which he believes will benefit from a Fed bailout) hedged with short TLT (the trigger). He warns that private credit is mispricing assets like Japanese banks in the 1990s, and clearinghouse algorithms assume tomorrow looks like today, setting up a crash similar to the XIV volatility product or the Liz Truss gilt crisis. 3. Key Takeaways and Practical Lessons 1. Political Regime Change Drives Markets More Than Economics: The shift from the 1980s “low inflation” mandate to today’s pro-labor, pro-wage inflation mandate is the dominant force. “When the politics changes, markets change.” The Teamsters came out in massive support of Donald Trump. * Practical Lesson: “If you go read the Communist Manifesto... you learn a lot of interesting things.” The US growth model is now based on exploiting sovereign bond investors, and those investors are waking up. 2. The Crowding Out Effect is Returning: Government borrowing is eating the pool of capital. “We’re getting close to the crowding out effect becoming a more overwhelming factor.” Corporate credit spreads are only tight because government bond yields are low. * Practical Lesson: If you are willing to lend to the US government at 4% for ten years with a 7% deficit, then corporate credit spreads are actually correct for where government bonds are. 3. Central Clearing Creates Hidden Systemic Risk (The “Live Crash”): Post-GFC clearinghouses removed banks watching banks. “The fear of bankruptcy is what kept banks and traders honest.” Now algorithms assume liquidity today means liquidity tomorrow until a shock hits, then “the price falls more and more” in a doom loop. * Practical Lesson: “We saw this with the UK gilt market... XIV in 2018.” Both were resolved by central bank bailouts. When it happens in TLT, do not buy bonds; gold is the beneficiary of the liquidity injection. 4. Private Equity and Private Credit are Marking Fantasy Prices: The industry operates on “I’ll buy yours if you buy mine,” similar to Japanese banks in the 1990s. When Shinsei Bank tried to mark loans at 60-80 cents on the dollar, bigger banks bought them at 100 cents to avoid taking losses on their own books. * Practical Lesson: “Rather than having third-party independent pricing of assets, we accepted ‘mark-to-magic.’” Avoid these structures because the self-interest to price correctly is not there. 5. The AI Trade Will Not Stop for Valuations, Only for Bonds: Unlike the dot-com bust where corporates didn’t understand the internet, today’s tech giants know “investing through the downturn is how you succeed.” Microsoft, Google, Meta, and Amazon will not cut CapEx. * Practical Lesson: “The money is there until the bond markets say, ‘Hey, we can’t lend to you anymore.’” Do not short AI based on valuation. The only thing that stops CapEx is a Treasury market seizure. Watch on Youtube below - This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    55 min
  3. REMINDER: Live Zoom Call in 90 minutes

    5D AGO

    REMINDER: Live Zoom Call in 90 minutes

    This is your reminder for the Noble Update LIVE Zoom call today at 2 PM EST. Join in, ask any questions you have, and get a no-BS answer from me. It’s been a wild week, and many people seem to be focusing on the wrong things — I’ve got plenty of value to add. Talk soon. (For paid subscribers only) This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    1 min

  4. APR 12

    Tacos, Sentiment and Seasonality | Jeff Hirsch

    1. Strategic Actions and Decisions * Monitor “Taco Trade” Technical Patterns: Track the specific March/April double-bottom pattern observed during the Trump presidency years, which historically precedes a bullish trend for the second and third quarters. [08:06] * Utilize Institutional Sentiment Benchmarks: Prioritize “Investors Intelligence” data over retail-focused surveys to gain a more robust understanding of where paid advisors and institutional money are positioned. [12:37] * Implement Seasonal Sector Rotations: Transition away from gold and technology as their primary bullish windows close, shifting focus toward defensive utilities and energy through the “worst six months” (May–October). [18:24] * De-risk AI and High-Beta Growth Exposure: Reduce positions in “hyperscalers” and software stocks (e.g., Microsoft, Oracle) due to deteriorating relative strength and a massive disconnect between capital expenditure and cash-on-cash returns. [41:24] * Diversify into International and Materials Sectors: Allocate capital toward outperforming non-U.S. markets like Brazil and specific industrial materials like aluminum and tungsten that are showing secular strength. [54:41] 2. Executive Summary In this session of The Noble Update, I sat down with Jeff Hirsch to break down the treacherous seasonal waters ahead. We are entering the “worst six months” for equities, a period complicated by the midterm election cycle and persistent inflation. My primary concern remains the catastrophic capital destruction in the AI sector; I see a massive disconnect between the hundreds of billions being spent by hyperscalers and their actual cash returns—it’s dot-com 2.0 but with greater capital intensity. While Jeff looks for “Taco Trade” patterns, I am focused on the market’s internal rotation away from growth toward utilities, energy, and international value like Brazil to preserve capital. 3. Key Takeaways and Practical Lessons 1. The Four-Year Cycle Weak Spot is Imminent: The second and third quarters of a midterm election year historically represent the weakest period for the Dow and S&P 500. * Practical Lesson: Tighten stop-losses and limit new long positions in broad indices until the seasonal “best six months” resumes in October. 2. Sentiment is a Trend, Not Just a Level: Market volatility (VIX) and sentiment readings are most predictive when analyzed as a trend of “higher lows” rather than static numbers. * Practical Lesson: Avoid “bottom-fishing” in tech stocks during a VIX uptrend; wait for a clear trend reversal in volatility before re-entering. 3. The AI Capex Disconnect Signals a Bubble: High capital intensity without immediate return on investment (ROI) suggests a repeat of the 1999 fiber-optic build-out, where the technology succeeded but the stocks collapsed. * Practical Lesson: Stress-test growth holdings by demanding evidence of “cash-on-cash” returns rather than relying on thematic narratives or “use cases”. 4. Utilities Serve as a Tactical Summer Hedge: Historically, utilities and bonds outperform during the market’s seasonally weak summer months. * Practical Lesson: Shift tactical allocations into the XLU (Utilities ETF) or companies involved in nuclear energy to maintain defensive yield. 5. Global Relative Strength Favors Non-U.S. Equities: Markets like Brazil have significantly outperformed the S&P 500, signaling a breakdown in the U.S. dollar’s long-term uptrend. * Practical Lesson: Look beyond the S&P 500 for alpha by identifying markets that have broken multi-year secular downtrends, such as the Brazilian Real. Follow Jeffrey Here on X - @AlmanacTrader Watch on Youtube Below - This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    1h 2m

  5. APR 9

    Keep it Real | David Nicoski, Vermilion Research

    1. Strategic Actions and Decisions * Prioritize Hard Assets with Low Obsolescence: Focus capital on securing positions in energy, materials, and real assets to mitigate risks from currency weakening and rising global nationalism. [00:15] * Monitor Internal Index Rotations: Avoid making generalized index calls and instead drill down into specific group outperformance, such as regional banks which have recently outperformed large caps by over 20%. [02:18] * Rotate Within Technology Verticals: Shift capital away from the “obliviation” occurring in software and toward resilient tech growth areas like broadband satellite, optical equipment, and lasers. [06:05] * Accumulate Commodities on Pullbacks: Utilize technical indicators like the RSI to identify overbought levels in sectors like energy and buy during weekly pullbacks to established support levels. [10:11] * Leverage Relative Strength in Global Markets: Execute trades in commodity-rich emerging markets like Brazil (EWZ), which are breaking 10-year base structures and outperforming the U.S. market significantly. [13:17] 2. Executive Summary I recently sat down with my long-time friend David Nicoski to dive into the charts, and his insights on this secular bull market in hard assets are something every leader needs to hear. Dave’s core thesis is that global nationalism and a decade of under-investment have made energy and materials the primary drivers of performance today. While we’re seeing “obliviation” in software, Dave pointed out that leadership still exists in tech if you look toward photonics and semiconductors. The big takeaway from our meeting is that the broad indices are a “fool’s errand”—success right now is about finding relative strength in specific niches like discount retail, meat production, and regional banks. We should prepare for continued outperformance in real assets as currency crosses shift toward commodity-producing nations. 3. Key Takeaways and Practical Lessons 1. Indexation Masks True Performance: Making generalized calls on market indices is a “fool’s errand” because the deviations between sectors are currently at historical extremes. * Practical Lesson: Analyze the “breadth” of sub-sector boxes—counting bullish versus bearish charts—rather than relying on headline index prices to determine the true health of a market segment. 2. The “K-Shaped” Consumer Shift: High-end retail is currently being decimated, while discount retailers like Walmart and Costco maintain exceptional relative strength. * Practical Lesson: Monitor consumer staples and discount retailers as a defensive hedge, as they are capturing the “upper portion of the K” that is falling away from luxury brands. 3. Long-Term Trend Breaks Overrule Short-Term Noise: Breaking a 10- or 15-year relative strength downtrend in commodities is a much more powerful signal than a minor two-week price correction. * Practical Lesson: Identify “ascending triangle” breakouts and multi-year base structures in materials like aluminum to capture secular, long-term gains rather than chasing daily volatility. 4. Physical vs. Paper Market Divergence: The “paper” price of commodities, influenced by shorting and speculation, often fails to reflect the reality of physical supply shortages where buyers pay substantial premiums. * Practical Lesson: Watch for instances where physical buyers are willing to pay significant premiums over the “paper” price as a leading indicator for the next leg of a commodity rally. 5. Nationalism Drives Supply Chain Security: Countries are increasingly focused on securing their own energy and material assets, creating a structural floor for commodity prices. * Practical Lesson: Allocate toward “commodity-rich” emerging markets like Brazil, where local currencies and equities are inflecting bullishly against the U.S. dollar. Follow David On X Here - @davevermilion Watch on Youtube Below - This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    35 min
  6. $5 trillion in sovereign wealth is being rethought right now

    APR 6

    $5 trillion in sovereign wealth is being rethought right now

    Most investors have no idea what that means for their portfolios. Gulf sovereign wealth funds (Saudi Arabia's PIF, Abu Dhabi's ADIA, Qatar's QIA) collectively control roughly $5 trillion in global assets. They own stakes in Volkswagen, Barclays, Glencore, Harrods, the Shard, Heathrow Airport, and Canary Wharf. They're anchored across European blue chips, US Treasuries, Silicon Valley tech, and Manhattan real estate. These funds were built for a rainy day. And it's POURING. One month into the Iran war, the damage is adding up FAST. Saudi Arabia was forced to cut oil production from 10.4 million barrels per day in February to 8 million in March. At Brent above $110, that's over $8 billion in lost crude revenue in a single month. Add the shutdown of LPG terminals and surging insurance costs, and Saudi's total first month losses climb to roughly $10 billion. The UAE got hit differently. Not just oil disruption - Iran's drones struck data centers, ports, and aviation infrastructure. Dubai and Abu Dhabi built their global brand on logistics, tourism, and trade. All three are now under severe strain. Qatar may have it worst though. Its core LNG export infrastructure took direct hits. The $580 billion QIA owns trophy assets across Europe - 17% of Volkswagen, stakes in Barclays, Glencore, the London Stock Exchange, plus Harrods, Heathrow, and the Shard. If the conflict drags on, some of those crown jewels may need to become cash. 3 of the 4 largest GCC economies have already BEGUN internal reviews of their investment strategies. They're reviewing existing contracts. Evaluating force majeure clauses. Reconsidering hundreds of billions in US investment pledges made to Trump just last year. Here's what I want you to understand: These funds don't just own stocks and buildings. They ARE the market in many corners of it. When the third largest shareholder in Volkswagen starts thinking about liquidity, that's a structural event - not just a portfolio adjustment. And the math is getting worse by the day. Saudi Arabia's 2026 budget was ALREADY built on a $44 billion deficit. Public debt was projected to hit $430 billion. Oil still accounts for 54% of state revenues. Every month this war continues forces Riyadh to choose between slowing Vision 2030 megaprojects or borrowing more on international markets. The good news (if you can call it that) is these funds hold significant liquid assets. ADIA reports 60-75% of its portfolio in public equities and debt. They can sell without fire-sale conditions. But "can sell" and "the market absorbs it smoothly" are two very different things. The IEA's Fatih Birol said last week that April will be MUCH worse than March for oil supply. The ships that were already in transit when the war started have now delivered. Nothing new is coming through Hormuz. The physical reality is catching up to paper prices. Brent is at $111 today. Goldman says $150-200 if the blockade persists through June. This is literally the worst energy disruption in history - bigger than '73, bigger than the Gulf War, bigger than the Russian gas cutoff. Meanwhile, gold sits at $4,675. Up over 25% since early 2025. The sovereign wealth fund story is the SECOND ORDER effect nobody's pricing in. Oil disruption is the headline. The possibility of $5 trillion in institutional capital being redeployed, liquidated, or frozen is the aftershock. When governments face existential short-term risk, long-term investment horizons collapse overnight. That's not theory. That's happening RIGHT NOW across the Gulf. Own gold. Own energy. Stay out of the way of forced sellers. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    1 min

  7. APR 3

    Gloom Doom & Boom Report | Marc Faber

    1. Strategic Actions and Decisions * Diversify across uncorrelated asset classes immediately: Own a mix of stocks, cash, bonds, real estate, and precious metals rather than trying to time or beat a rigged market. [03:16] * Admit ignorance and stop trying to forecast short-term moves: Accept that the future is unknowable; use broad diversification and value-based long-term positioning instead of momentum trading. [14:30] * Hold gold as insurance against central bank money printing: Treat gold not as an income-producing investment but as a policy hedge against the inevitability of currency debasement. [29:52] * Reduce or avoid long-dated U.S. bonds (TLT): Government balance sheets are insolvent, and bonds will likely destroy purchasing power in real terms despite nominal returns. [34:49] * Allocate capital to emerging economies, particularly Asia: Shift exposure away from overvalued U.S. markets toward Taiwan, South Korea, India, and other rapidly growing Asian economies. [44:12] 2. Executive Summary In this conversation, my longtime friend Marc and I discussed a major market regime change away from the free-money era. We agreed the system is rigged—legal fraud, front-running, and fake inflation data are rampant. However, rather than rage against it, my advice to investors is to trade the market you have. Marc and I recommend diversifying across stocks, cash, real estate, and gold, while avoiding long-term bonds. We believe central banks have created illusory wealth and that the breakdown has already begun, evidenced by value outperforming growth last year. My key takeaway: own gold as insurance, invest in emerging economies, and accept modest real returns of 2-3%. 3. Key Takeaways and Practical Lessons 1. The System is Rigged—Accept It and Adapt: Legal fraud, front-running of retail orders by firms like Citadel, and manipulated inflation statistics mean the game is stacked against short-term traders. * Practical Lesson: Stop day trading and momentum speculation entirely. Shift to a long-term, value-oriented, diversified portfolio where micro-cheating by high-frequency firms does not matter. 2. Diversification is the Only Honest Strategy for Non-Experts: Neither Marc nor I can predict the future—not in five minutes, not in five years. Admitting ignorance is the first step to rational investing. * Practical Lesson: Own at least five uncorrelated asset classes (stocks, cash, bonds, real estate, gold). Rebalance annually without trying to forecast which will outperform. 3. Long Bonds are a Quiet Wealth Destroyer: Measuring bonds in dollars creates illusionary safety. When measured against gold or stable currencies, U.S. long bonds are in a multi-year bear market. * Practical Lesson: Replace long-duration Treasury holdings with gold or diversified emerging market equity exposure. If you must own bonds, keep maturities under five years. 4. Gold is Insurance, Not an Investment: Gold produces no income, but its role is to protect against the inevitability of government money printing and the breakdown of paper currencies. * Practical Lesson: Allocate 10-15% of your portfolio to physical gold or GLD. Do not trade it. Hold it as catastrophe insurance against central bank stupidity.* 5. The Old Rules of Valuation are Returning: The era of free money, chart momentum, and passive indexing is ending. Fundamentals—cash flow, debt levels, price-to-earnings—will matter again. * Practical Lesson: Write old-fashioned three- to four-page fundamental reports before buying any stock. Include strengths, weaknesses, risks, opportunities, valuations, financials, and catalysts. Ignore momentum alone. Visit Marc’s website here - https://www.gloomboomdoom.com/ Watch on Youtube Below - This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    48 min
  8. Why Warren Buffett sits on $300 billion in cash

    APR 2

    Why Warren Buffett sits on $300 billion in cash

    In a recent interview, Buffett was asked about the market selloff. His answer was devastating in its simplicity: "This is nothing." Markets are down 5-7% and everyone's panicking. Buffett has watched Berkshire drop 50% THREE times. He doesn't get excited about a 5-6% dip. In his own words: "We aren't in it to make 5 or 6 percent." These prices aren't even close to cheap. And the numbers back him up: Buffett's own favorite indicator - total market cap to GDP - is at 208%. He once called anything above 120% "playing with fire." We're nearly DOUBLE that threshold. At current levels, his model projects roughly 0.4% annual returns over the next 8 years. Zero point four percent. You can get 5% in a savings account. Meanwhile, Moody's AI-driven recession model just hit 49% probability. Every time it's crossed 50% in 80 years of backtesting, a recession followed within 12 months. And that reading was BEFORE the Iran war shut down the Strait of Hormuz and sent oil above $120. The IEA calls this the worst energy crisis in history. Worse than 1973. Worse than 1979. We've lost 12 million barrels per day - more than both 1970s oil crises COMBINED. The S&P is down 7% year to date. The Nasdaq is off 10%. Q1 was the worst quarterly performance in 4 years. US GDP growth just got revised down from 1.4% to 0.7%. The economy LOST 92,000 jobs last month when economists expected a GAIN of 59,000. And inflation is creeping higher while the economy slows. This is the early stage of stagflation. Buffett sees it. That's why he's been a NET SELLER of stocks for 9 straight quarters. That's why Berkshire is sitting on its largest cash pile in history. The greatest investor alive is telling you - not with words, but with actions - that this market is overpriced and he'd rather earn 5% in T-bills than own stocks at these valuations. When has Buffett been this cautious? Late 1999. Right before the dot-com crash wiped out 49%. Late 2007. Right before the financial crisis wiped out 57%. Both times he was mocked for "missing the rally." Both times he was right. Now look at what's happening around us: Oil at $120 with the Strait of Hormuz still closed. Gas above $4 for the first time since 2022. The IEA warns April will be WORSE than March. This is comparable to the 1970s stagflation era. And the market is still priced for perfection. Buffett didn't get rich by buying expensive stocks during geopolitical crises. He got rich by being patient, sitting in cash, and buying when everyone else was panicking. We're not at the panic stage yet. We're at the stage right before it. The smart money isn't buying this dip. The smart money IS the dip. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit georgenoble.substack.com/subscribe

    1 min
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Curating The Latest Deep Dive Investment Insights georgenoble.substack.com

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  • Creator
    George Noble
  • Years Active
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  • Episodes
    63
  • Rating
    Explicit
  • Copyright
    © George Noble
  • Show Website
    The Noble Update Podcast

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