Name: Peter Grandich Sold All His Stocks, Here’s What He’s Buying Instead
Uploaded: 2026-07-28T18:22:57+00:00
Duration: 2200 s

Speakers

Peter Grandich — Founder, Peter Grandich & Co.

Summary

Peter Grandich explains why he sold all US equities and is buying metals instead. He sees a long period of US equity weakness driven by geopolitical missteps, trade war fallout, and a coming debt refinancing crisis. He is bullish on precious and industrial metals, especially copper, expecting a multi-year bull market fueled by structural supply shortages.

Grandich ditched all US equities, expecting a slow grind lower, not a sudden crash.
He re-entered metal markets after gold dipped below $4,000 and sees the start of a second leg up.
Copper is his top idea: chronic supply deficit meets steady demand, with Chile's output constrained.
He calls out Nvidia for vendor-financing practices reminiscent of the telecom bubble before the dot-com crash.
He expects the 10-year Treasury yield to climb to 5% or higher to refinance huge US debt maturities.
Uranium is on his radar as a potential re-entry, tied to the broader critical minerals theme.
Geopolitical fallout—especially with Iran and trade partners—is accelerating dedollarization and harming US standing.

Ideas

Peter Grandich Founder, Peter Grandich & Co. 0:02

Avoid US equities, prolonged weakness.

He sold all US equities and holds zero US equity exposure. He expects US markets to roll over and underperform for years, not a crash but a long grind lower, driven by geopolitical missteps, trade war damage, foreign selling of Treasuries, massive deficit refinancing needs, AI bubble risks, and loss of US global dominance.

Peter Grandich Founder, Peter Grandich & Co. 15:35

10-year Treasury yield heading to 5%+.

The US must refinance nearly $10 trillion of maturing debt, and he believes it will take a 10-year Treasury yield of 5% or higher to get that done. Meanwhile, Japan and China are reducing their purchases of US Treasuries, shifting more financing burden onto domestic markets. Not raising rates now could damage the bond market more than actually raising.

Peter Grandich Founder, Peter Grandich & Co. 18:05

Nvidia's vendor financing signals AI bubble.

Nvidia is engaging in vendor financing—lending money to customers to buy its products—just like telecom companies did before the dot-com crash. The AI bubble and excess debt around it are a serious concern that could implode, and former AI leaders are already weakening.

Peter Grandich Founder, Peter Grandich & Co. 20:32

Metals begin second leg of bull market.

He re-entered the metals market after gold briefly traded below $4,000. Sees deepening shortages across key metals and critical minerals, corrective phase completed, and the start of the second leg of a three-leg bull market in precious and industrial metals.

Peter Grandich Founder, Peter Grandich & Co. 22:14

Considering uranium re-entry.

As part of the broader metals bull market, he is now looking at possibly re-entering the uranium market. The idea is still in the evaluation stage, but he sees it as a potential opportunity inside the critical minerals theme.

Peter Grandich Founder, Peter Grandich & Co. 27:00

Copper supply crisis drives steady gains.

Copper is his favorite metal. A structural supply deficit exists: the world needs six new Tier 1 copper mines per year through 2050 just for normal growth, yet very few are coming online. Chile's output is constrained by social issues and declining ore grades. Copper has climbed in a steady, methodical way with higher highs and higher lows, making it a superior long-term holding. He would rather own copper stocks than any technology stock.

Peter Grandich Sold All His Stocks, Here’s What He’s Buying Instead

Summary

Ideas

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