Chris Judd Thinks You're Wrong About Rates, Bonds and AI

Former AFL champion turned macro investor Chris Judd returns to unpack the biggest forces shaping markets right now. From the Iran conflict and energy security to the AI arms race, US interest rates, gold and Australia’s productivity problem, Chris explains where he thinks consensus is getting it wrong and how he's positioning the Cerutty Macro Fund to take advantage of the next wave of macro trends.

In this episode:
00:00 – Chris changes his view on Australian small caps
03:24 – Iran, the Strait of Hormuz and why energy matters
08:07 – Is Australia at the top of the rate cycle?
09:24 – Why Chris disagrees with consensus on US rates
13:54 – The real bubble is in bonds
19:17 – Will AI create a productivity boom?
24:07 – Positioning the portfolio for the AI race
31:23 – Australia's gas tax and energy policy debate
35:51 – Gold, central banks and sovereign reserves
41:23 – The most overlooked investment themes
43:47 – The best business Chris has ever seen: Tether
45:33 – Why Claude is his investing tool of choice
46:19 – Final investing advice: know your game

ETFs & stocks mentioned: Gold, Oil, Natural Gas, Copper, Uranium, Helium, Sulphur, Bitcoin, Micron Technology (NASDAQ: MU), Google (NASDAQ: GOOGL), Meta Platforms (NASDAQ: META), Amazon (NASDAQ: AMZN), OpenAI, Anthropic, SpaceX, Zoom Communications (NASDAQ: ZM), SK Telecom (NYSE: SKM), Lynas Rare Earths (ASX: LYC), Santos (ASX: STO), BHP Group (ASX: BHP), Ramelius Resources (ASX: RMS), Tether, US Treasuries, US Dollar

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