The S&P just closed its worst month since March 2025 at 6,368,
marking a fifth straight weekly decline. Moody’s puts recession
probability at 50%. Goldman is at 30%. But this isn’t just another
pullback: with Brent crude at $116, inflationary supply shocks are
compounding the damage in ways that monetary policy tools can’t fix.
Ram names his specific buys (Berkshire Hathaway at 1.3x tangible book,
Microsoft, Meta at 17.5x forward PE) and his shorts (Caterpillar, John
Deere, and the industrials complex he calls “a bubble”). He warns that
Bitcoin’s hold at $66K is driven by STRC flows, not a healthy
fundamental bid.
Austin and Chris debate whether the Clarity Act and institutional
adoption are enough tailwind to matter when the macro environment is
this hostile.
This video is from a longer conversation covering the Iran conflict,
bond market constraints, and the Canton vs. Ethereum institutional
debate.
Full episode here: https://youtube.com/live/Ui5pI1JxF6s
We go live every Monday at 4:30 PM ET. Subscribe to catch it live.
