Episode Details

Gold just had its worst quarter since 2013 while stocks had their best since 2020, so where does a $3.5 billion money manager invest now? Jeff Sarti of Morton Wealth on what to do after the gold pullback, the new Fed chair, and the AI trade.

Jeff Sarti, chief executive of Morton Wealth, joins Kitco News anchor Jeremy Szafron for his first appearance on the channel. He explains why he's underweight stocks near "1999 dot-com" levels, why he calls passive investing a "mindless, price-agnostic" force driving the market, why the gold community shouldn't write off new Fed chair Kevin Warsh, why "nobody in the West owning gold" is the most bullish thing about it, how much gold he actually holds, the one signal he's watching (the bond market), where he'd deploy new capital today, and the single biggest mistake he says investors are making right now. A behavior-and-allocation conversation, not a price forecast, you decide what fits how you invest.

Recorded June 30, 2026.


00:00 The Divergence No One Can Explain 
01:00 Why He's Underweight Stocks Near 1999 Levels 
03:00 The "Mindless" Force Driving the Market 
04:30 Is This an AI Bubble, or Just Euphoria 
06:30 Stocks at Highs, Confidence at Lows 
08:00 The Yen, the Carry Trade, and Japan's Warning 
10:00 Is the New Fed Chair "Volcker 2.0" 
13:30 Why Higher Rates "Probably Won't Work" 
15:00 Why Nobody Owning Gold Is Bullish 
16:00 Why Gold Really Corrected 
19:00 How Much Gold Should You Actually Own 
21:00 The One Signal He's Watching 
22:30 Two Investors, One Answer 
26:00 Where He'd Put $10 Million Today 
28:00 The Private Credit Red Flag 
31:30 The Biggest Mistake Investors Are Making

#gold #goldprice #investing

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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.

Disclaimer:  
The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequ