The KE Report

This Weekend Show connects the week’s biggest geopolitical catalyst - U.S. military action tied to Venezuela’s oil - and what it could mean for commodities and markets in 2026. Peter Boockvar lays out a contrarian oil thesis built on depressed prices, positioning, and shale maturity, while Brien Lundin explains why silver’s surge looks structurally different this time - driven by physical tightness and industrial buyers forced to compete with investors, all against a backdrop of critical-minerals policy momentum. Segment 1 & 2 - Peter Boockvar, Chief Investment Officer at Bleakley Financial Group and editor of The Boock Report, who weighs in on geopolitics, arguing the U.S. action in Venezuela doesn’t change his bullish long-term outlook for oil, and discusses why depressed energy, agriculture, and select commodities could play catch-up amid tightening supply, shifting sentiment, critical minerals policy, evolving AI investment dynamics, and the growing importance of long-term interest rates in 2026. Click here to follow Peter at The Boock Report - https://peterboockvar.substack.com/   Segment 3 & 4 - Brien Lundin, editor of the Gold Newsletter and host of the New Orleans Investment Conference, to discuss the historic surge and volatility in silver driven by physical supply constraints and investment demand, plus his outlook on gold, copper, lithium and uranium as the broader commodity bull market gains momentum. We discuss the equities for each commodity sector as well.  Click here to learn more about the Gold Newsletter. - https://goldnewsletter.com/   If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review!   For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests may own shares in companies mentioned.  

In this company update, I’m joined by Tara Christie, President & CEO of Banyan Gold (TSX.V:BYN - OTCQB:BYAGF), to break down the latest drill results from the Powerline and Airstrip deposits at the AurMac Project in Yukon. Tara walks us through why these eight newly reported drill holes are technically significant, how they validate Banyan’s evolving geological model, and what they reveal about ongoing high-grade continuity, expansion targets, and future resource growth.   If you have any follow up questions for Tara please email me at [email protected].    Click here to visit the Banyan Gold website - https://banyangold.com/ ----------------- For more market commentary & interview summaries, subscribe to our Substacks: https://kereport.substack.com/ https://excelsiorprosperity.substack.com/   Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins me to look at the continuation of a number of investing megatrends that did well in 2025 and are on track to keep outperforming in 2026.  We discuss strategies for portfolio management and some of his portfolio trades in gold, silver, copper, uranium, oil, antimony, and nexgen defense stocks in drones, rockets, robots, AI, and quantum computing.    We start off noting the strong end to last year technically with regards to where gold and silver closed up 2025, and how they started off this year with even higher levels, but more volatility in both directions and have pulled back some here in the mid-week.   In the larger silver stocks Sean got repositioned a couple of months back in both Pan American Silver and Hecla Mining in 2 of his respective publications and portfolios. He discusses some of the reasons why investors have not been pushing the silver stocks to higher valuations, that would be more in line with their increasing margins, revenues, or project economics.  Sean believes that many investors are waiting for a more substantial pullback in the silver price to buy that dip and get positioned into future silver sector weakness. We review the significance of this coming earnings season, for both silver and gold stocks, and how the record revenues will become too hard for generalist investors to ignore. Sean makes the case for both gold and silver running much higher in the year to come, but does believe that we likely need a short or medium-term consolidation first, before building the energy to bring in the next wave of investing capital to push the sector into the next breakout move higher. We talk about the strength of the physical markets over the paper markets, and how this is underpinning the higher prices and creating more traction at overbought levels than many short-term traders were expecting.   From there we broaden out the discussion to the whole commodity complex, which Sean believes will stay in momentum overall, and that these higher metals prices have the attention of manufacturers and fabricators that need a consistent supply of silver, or copper, or nickel, or other critical minerals.   It is possible that we may see some manufacturers and industry conglomerates come down and actually acquire silver or copper mines while they remain at such attractive valuations relative to the underlying metals prices, just to guarantee supply to their businesses. He points to the strength in copper and copper stocks recently and he is very constructive on the longer-term fundamentals for this commodity   Next, we get into the resurgence of nuclear power and strength in the uranium stocks over the last month coming into the new year, and why he remains bullish for the medium to longer term that this sector has much further to rerate higher.   He underscores the big triple digit gains that he and his subscribers realized in Energy Fuels (NYSE: UUUU) this year.  His interest is getting piqued in this sector once again, because after the large corrective move that the uranium stocks went through at the end of last year, they are now starting to demonstrate relative strength again over the last couple weeks.     Sean believes this commodities super-cycle will even begin to drag the lagging traditional energy sector and oil and gas stocks higher later in the year. We then contrast that potential for higher prices with some of the weakness seen in parts of the energy complex, after the recent geopolitical uncertainties developing after the US moved in on Venezuela, removing President Maduro over this last weekend, and seizing a few ships full of oil and desiring to get more US companies extracting that heavy oil.   The discussion on geopolitical developments then shifter over to the big budget spending allocated to building and acquiring next generation defense in the US and Europe and around the globe.    Sean highlighted Skywater Technology (NASDAQ: SKYT), as a recent winning position for he and his subscribers, in a fairly short amount of time, due to the increased focus on the defense sector.   He also flagged the integration of AI and quantum computing into both defense and the civilian sectors for drones and robotics to spur a “robot revolution” in 2026 and moving forward. We also point out that if governments and manufacturers want to build out all this next generation defense in drones, hypersonic rockets, rockets into space, and focus on the future potential through robotics, then it is going to take substantially higher amounts of many commodities including copper, silver, nickel, antimony, geranium, and select rare earths.   Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends . Click here to learn more about Resource Trader     For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Joel Elconin, co-host of the PreMarket Prep show and founder of the Stock Trader Network joins me to outline the key investing themes in US equity markets for 2026. We discuss the upcoming macroeconomic data that matters, and circle around to a number of market sectors, getting his outlook on whether we’ll see a continuation or a reversal in the prevailing trends.   Key discussion points include:   2025 Market Recap & Broadening Participation – A look at index performance, the shift away from mega-cap dominance, and a broadening out in other sectors from biotech to small caps in the Russell 2000.   Macroeconomic Data On Tap – Joel points to jobs data coming out this Friday, inflation data next week, the upcoming supreme court decision regarding tariffs, and in just a few weeks the kick off of Q4 earnings season.     Dovish Fed Policy Is Anticipated In Mid-2026 -  Joel notes that so far the TLT longer-duration treasuries are not reacting, but typically monetary policy only really affects the short-duration rates.  Lower rates should help small caps and be a boon to the financial sector. A Technical Outlook on the S&P 500 and Nasdaq Indexes – Joel shares the technical levels he is watching on a shorter-term basis for support and resistance; but notes that with markets still up in uncharted waters, that there are no easily identifiable resistance levels.   Government Defense Budget and New Guidelines Created Volatility In The Defense Stocks – Joel highlights how all the new restrictions from the government with regards to management and company incentives sent defense stock reeling lower, but the announcement of $1.5 Trillion in a military spending package sent them right back higher again.   Rotation Trade Into Low P/E and Value Stocks Is The Big Theme at present – There is capital that has rotated out of the Mag 7 leadership and into a broader range of value stocks like Berkshire Hathaway, auto manufacturers like Ford and GM, home builders, healthcare stocks, and consumer staples.  Geopolitics are also playing a factor of investors seeking safer brands and investing names. Click here to visit Joel’s PreMarket Prep website   Click here to visit the Stock Trader Network   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.    

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Underground Alpha, joins me for our monthly longer-format discussion on the stew of different macroeconomic factors, continuing to fuel the commodities supercycle in silver, gold, uranium, copper, lithium, and opportunities in their related resource stocks.   We start off discussing record closing prices at the end of last year on the monthly, quarterly, and annual charts for silver, gold, platinum, copper, and overall strength in many other industrial and critical minerals.   It has been challenging for investors to keep track of all the different new developments when one considers the inclusion of even more metals on the official critical minerals list, the Chinese export controls on silver that started in January in addition to all the export controls on other commodities, the recent US intervention in Venezuela for access to heavy crude oil, the upcoming appointment of the new Fed chair that will be more dovish, the upcoming supreme court decision around the legality of tariffs, the arbitrage in many metals between the physical price and paper price on various exchanges, and all of the ongoing macroeconomic factors on inflation, debt, GDP growth, and fiscal policies that were already in place before all these new factors arose.   With regards to the precious metals, Nick states that we are clearly in the middle of a solid bull market, where investors should adopt a “buy the dip” mentality, similar to what we’ve seen for well over a decade in the general us equities in the S&P 500 or Nasdaq.  We review the how the valuations of PM producers and developers have not kept up with surging metals prices, and how they are undervalued on many metrics. We discuss the slow adoption and participation from generalists and institutions into the gold and silver stocks, but that it is gradually starting to happen, and should further accelerate after we see Q4 earnings season reported, starting in a few weeks. He underscores the large pools of money still sitting in other sectors or on the sidelines that have the potential to rotate into this sector as valuation metrics become to compelling to ignore.  Nick states that if 2024 was the year for gold, and 2025 was the year for silver, then 2026 will be the year for precious metals stocks.   Next, we shifted over to the growing investing theme around energy coming into this year and how that plays into the need for more commodities like uranium, oil, natural gas, copper, and lithium.  We really cover a lot of ground here in this portion of discussion, spending a good deal of time laying out the fundamental investing thesis for nuclear power and supply/demand imbalances for more uranium.  We then expand the conversation into some of the drivers that have pushed copper to all-time highs again over the last few weeks, and some of the Cu companies on Nick’s radar.  Wrapping up we get into why he has been highlighting lithium and Li stocks over the last few months as a key contrarian commodity play tying into the growth in energy storage, and why he believes that trend will continue for the balance of this year.   Click here to follow Nick’s analysis and publications over at Digest Publishing   For more market commentary & interview summaries, subscribe to our Substacks:   The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/     Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.