'Major Reprice' Of All Assets; Bubble Burst, Gold to $5k | Clem Chambers

Summary

Clem Chambers, founder of ANewFn, discusses inflation fears, Fed-controlled markets, gold, AI hardware demand, Nasdaq bubble risk, Bitcoin, and his top asset for 2025. He argues gold is in a ballistic advance toward $5,000 as a volatility hedge, while the Nasdaq is not yet in bubble mode and Bitcoin looks toppy. He is bullish on AI training hardware and Nvidia, holds AMD as a cheap AI proxy, and is contrarian bullish on UK large caps as takeover targets.

• Inflation expectations have risen, but Clem sees 4-4.5% as uncomfortable rather than a crisis.
• He argues the Fed controls the Treasury curve and inflation expectations, so old bond-vigilante dynamics are gone.
• Gold is his preferred hedge due to rising global volatility and geopolitical risk; he targets $5,000 and prefers bullion over gold miners.
• He sees AI training demand as durable and not undermined by DeepSeek, supporting Nvidia hardware demand; he holds AMD as a cheaper AI proxy.
• He says the Nasdaq is not yet in a bubble but expects a parabolic acceleration in 2-3 years.
• He has been lightening Bitcoin/crypto because it looks toppy after its run.
• His top 2025 asset is the UK, where cheap FTSE 100 value companies are takeover targets.
• Startups require total commitment, but that section is not presented as an investment trade.