Analogy: remodeling a house while living in it. Structurally bullish long-term due to Trump policies bringing capital and production back to the US. Near-term: noisy, messy, uncomfortable. Consumer under pressure, inflation persistent (essentials up ~29% since 2020). Fed is 'boxed in' by debt and inflation risk, setting up potential volatility into 2026, though remains mostly optimistic.

Central banks buying more gold than treasuries is a massive change. Likes silver specifically and gold. Recommends indexes like GDX or SIL. Thesis: Metals have been on a tear and will go 'far higher' even in a short time frame. Producers have low-cost ounces in ground; input costs not rising as fast as metal prices, making them highly profitable. World needs metals: gold as treasury alternative, silver for data centers, electronics, AI, solar. Personal targets: gold $6,000-$8,000, silver $150-$250 over next 1-2 years. Driven by supply/demand.

SMR (a ticker) for nuclear energy to support base load for grid, AI, manufacturing. Need more energy for AI, data centers, EVs, Bitcoin mining. SMRs are faster, more efficient, relatively safe. Suggests trimming heavy tech positions to allocate to SMR and similar ideas to harden balance sheets.

Taxes are 'on sale' now due to Tax Cuts and Jobs Act 2.0, likely lower than ever will be. Emphasizes tax diversification via Roth IRAs (including backdoor conversions) for tax-free retirement income. Advises planning based on income needs, burn rate, and withdrawal strategies.

Anyone can use backdoor IRA conversion. Younger people should fund Roths now. Even in a lower retirement tax bracket, mortgage payments etc. create effective tax burden. Need holistic income planning with an income planner.