We're in the middle of a run it hot economy. Today our discussion ranged from geopolitics into markets, including precious metals. Silver’s recent surge is best understood as a reversion toward historical gold–silver ratios rather than a knowable fundamental catalyst. Silver’s parabolic move looks unstable compared to gold’s healthier, slower uptrend. But no one can truly know why prices move, so investors should be clear about why they own precious metals since that purpose should drive allocation size and risk tolerance. We also talk macro conditions, the U.S. may be pursuing an “inflationary boom” or “run it hot” strategy to offset high debt and valuations, which would favor real assets like commodities, gold, and real estate over long-duration bonds. It's important to manage fear, avoid extreme predictions, stay diversified, and pay close attention to structure, incentives, taxes, and shifting global leadership rather than relying on narratives or past performance. Today we discuss...
- Precious metals are a key focus, with gold behaving in a steady, healthy bull market while silver experienced a sharp and unstable surge.
- The gold-to-silver ratio was discussed as historically stretched and now reverting toward long-term norms, helping explain silver’s outperformance.
- Silver was highlighted as both a monetary metal and a critical industrial commodity listed by the U.S. government as strategically important.
- The parabolic nature of silver’s recent price action is risky and vulnerable to sharp pullbacks or policy interventions like margin hikes.
- Investors should define why they own precious metals—portfolio balance, trend participation, or protection against monetary risk.
- Fear-driven investing and “end of the world” thinking are harmful to rational portfolio decisions.
- The idea of an “inflationary boom” or “run-it-hot” economic strategy was presented as the likely policy path forward.
- Big tech is increasingly fragile and potentially misaligned with an inflationary-growth regime.
- International markets were noted as having recently outperformed U.S. equities despite America-first political narratives.
- Valuations in U.S. equities were described as high and structurally fragile, even as the bull market remains intact.
- Technicals and momentum are dominating fundamentals in the current market cycle.
- Tax considerations are an often-overlooked but critical factor in portfolio construction and asset selection.
- Bitcoin’s unique tax treatment and classification as property offer planning advantages versus securities.
- Be wary about complacency, overconcentration, and narrative-driven investing in a late-cycle market.
"Cash is not trash... Cash is King" - Kirk Chisholm
Subscribe & Download
Never miss out on a new episode! Subscribe using your favorite podcast app.
Sign up to be one of our Money Tree Ultimate Insiders. You will have instant access to new episodes, automatically have access to our monthly giveaways, and the potential to be a guest panelist on our show
Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of âfirst do no harmâ. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
Kirk's Online Presence:
Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Mergent College Advisors