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Gold $GLD has outpaced the S&P 500 $SPX by 2.5x since 2000.
A $10K investment in Gold is now $104K, while the S&P 500 sits at $40K. Source: Carbon Finance
Corporate Insiders are dumping shares at the fastest pace in AT LEAST the last 2 decades.
Source: Barchart, FT
The gold-to-S&P 500 ratio is now near 4-year highs.
Source: Bloomberg, Crescat Capital
The stagflation trade is proving to be a rare winner as the stock market rout continues.
The Goldman L/S Stagflation basket—which benefits from rising commodity & healthcare stocks while betting against consumer discretionary and chip stocks—has gained nearly 18% in 2025. Source: HolgerZ, Bloomberg
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