This Week in Barrons: 12.28.2025

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• If it takes three to five years … for a project to gain traction, it probably doesn’t pay to start a project to fix what the world needs to have fixed … right now.  The challenge is picking something the world will need in 3 to 5 years.  And the hard part is patiently and persistently sticking with that project – even though it’s not on everyone’s agenda – yet.  Remember: “The best time to plant a tree was twenty years ago.  The next best time is tomorrow.”

•  Per H. Thompson: “Andy Constan (@dampedspring-37m) believes the reason for precious metals going parabolic could be industrial uses, gamma squeezes, and short squeezes – but those all miss the mark by one simple fact.  On Dec 10, our FED decided to buy 40B T-bills/mo. – further adding to the ongoing debasement of the U.S. Dollar.  The obvious trade was to double your long allocation in commodities and gold.  Dollar down = commodities and metals up.” It’s not rocket science.

• It’s all about being in ‘the zone’ … "Sometimes, there’s this moment where everything goes quiet.  The heartbeat slows... it’s peaceful.  I can see everything.  No one can touch me.  I’m always chasing that moment.  I don’t know when I’ll find it again, but man, I want to.  I want to because in that moment, I’m flying."  … Sonny Hayes: F1 

• I've been a Gold/Silver bug since 2007.  Way back then, I took my PM cues from some very wise people, and I told anyone who would listen that eventually we would see $3,500 dollar gold and $75 silver.  This year gold blew through that prediction by $1,000 dollars and silver hit my 18-year-old target on Friday.  For silver, supply has not kept pace with demand and has gotten to a point where it’s almost comical.  This is highlighted in the Shanghai exchange, where silver transacts at $85/oz. – right now.  Manufacturers want the metal – now, and they don't want worthless COMEX futures contracts that will never be swapped into physical silver.  Of course, you have those screaming that silver's price is going to become "unobtainium", but those individuals are unfamiliar with how true price discovery works.  For those of you that trusted my opinion, you've enjoyed a spectacular run. Imagine buying a box of 500, one-ounce silver eagles at $10/oz. in 2008 = $5,000.  25-years later, at $75/oz. your single box = $37,500.  Good for you-all!  Factually, banks and COMEX have lost control.  No one wants those London COMEX paper contracts, but rather they want physical Shanghai delivery.  And besides, COMEX doesn’t have enough physical silver to even cover the paper contracts that are out there currently.  What we need to keep an eye on are 2 things: (a) whether China with their Shanghai Exchange does to copper, platinum, and palladium what it did to silver, and (b) which banks have continued to ‘naked short’ silver during this run-up and are at the risk of going under because of it.

• "Slow is smooth, and smooth is fast." … Sonny Hayes: F1

• The economy is booming …  The US beat expectations in the third quarter with 4.3% GDP, the strongest growth in two years.  Consumer spending rose 3.5% in Q3, up from 2.5% in Q2.

• Gold is set to notch its best year since Jimmy Carter was president … and copper prices are surging alongside gold and silver to end the year.

• "Our shot is battling in the turns. We need to build our car for combat." … Sonny Hayes: F1

• Nvidia made its biggest purchase ... by acquiring the assets from the chip company Groq for about $20B.  It was founded by creators of Google’s TPU, which competes with Nvidia for AI workloads. 

• Morgan got the flu last week.

• RF got the flu last week.

   

• Overall, Per Callum Thomas:  For the year, US equities have lagged significantly behind vs rest-of-world.  Global stocks have actually put in very strong performance (particularly Europe and Emerging Markets).  So, it’s a reminder to take stock of your biases and question the consensus.

• Money (in whatever quantity) remains a hygienic motivator (useless after a month).  However, reasons like gaining respect, making-a-difference, sending-a-message, making the world a better place … are all motivators that have stood the test of time.  A simple entrepreneurial rule: “Do what you love, and love what you do.” 

• Sonny Hayes in F1 said: "If the last thing I do is doing what I love, I will take that life – a thousand times."

• TIPS on Trades:

  -  Tip #1: HYMC: keep buying this Gold / Silver stock with Call Spreads

  - Tip #2: ALB: due to its 12.5% short interest / BOT 16 Jan. +$155 / -$160 Call Spread

  - Tip #3: NEXT: due to its 10.8% short interest / BOT 20 Feb. $6 Calls @ $0.37

  - Tip #4: SLV: Silver has breached their expected move 5 weeks in a row with ~1m contracts being traded daily.  Keep buying Calls / Call Spreads.

• HODLs: (Hold-On for Dear Life) – Learn to like Precious Metals …

  - Reducing:

  o (-) Ethereum (ETH = 2,737 / in at $310)

  o (-) Bitcoin (BTC = $87,800 / in at $4,310)

  - Increasing:

  o (o) IBIT – Blackrock’s Bitcoin ETF ($49.6 / in at $24)

  o (+) Physical Commodities = Gold @ $4,562/oz. & Silver @ $79/oz.

  o (+) SLV (silver ETF) == ($71.1 / in at $27)

  o (+) GLD – Gold ETF ($416 / in at $212)

  o (+) HYMC (gold & silver miner) == ($25.1 / in at $11.8)

  o (+) GDX (gold miners) == ($91.29 / in at $52)

  o (+) COPX (copper ETF) == ($75.7 / in at $55.3)

  o (+) CCJ (uranium) == ($92.8 / in at $84)

  o (+) SIL (large silver miners ETF) == ($90 / in at $82)

  o (+) SILJ (junior silver miners ETF) == ($30 / in at $26.5)

  o (+) ICSH (short term bonds = 4.65% yield == paid monthly)

  Please be safe out there!

• _{Expressed thoughts offered within the BARRONS REPORT, a Private and free weekly economic newsletter, are those of noted entrepreneur, professor and author, R.F. Culbertson, contributing sources and those he interviews.  You can subscribe by visiting: https://rfsfinanicalnews.beehiiv.com/subscribe.}

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