Latest / The Julia La Roche Show
#336 George Noble: The Fiscal Bill Is Coming Due, Gold Could Double From Here, and the Death of Speculation Is Underway
George Noble, CIO of Noble Capital Advisors, lays out his big theme for 2026: rotation. George argues that the debasement trade is the dominant macro narrative, with the bill coming due for decades of reckless fiscal and monetary policy. He calls the 60/40 portfolio dead, urging investors to dump bonds and buy gold, noting that gold miners could double in 12 months if prices hold. He makes the case that the AI trade is over. Noble sees energy as one of the most compelling opportunities. He expects emerging markets and foreign equities to continue outperforming the US, small caps to beat large…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.