Macro Voices MacroVoices #519 Alex Gurevich: The Next Perfect Trade
118 snips
Feb 12, 2026 
Alex Gurevich, founder of Honte Investments and bestselling author, joins to discuss rates, energy, and precious metals. He breaks down bond market dynamics and Japan’s yields and weak yen. They debate compute-driven energy demand, nuclear vs gas tradeoffs, and gold/silver behavior. The conversation also touches on his revised book and trading mistakes.
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Fed Tone Changes Timing, Not Destiny
- Fed policy differences likely shift the timing not the ultimate direction because data forces convergence.
- Real rates rising should eventually weigh on employment and economic activity.
AI Could Erode Jobs And GDP
- Alex expects AI will not yet have massively displaced jobs but will in the long run.
- He warns AI could reduce both employment and GDP in certain areas unlike past tech waves.
AI As A Geopolitical Arms Race
- Alex agrees AI will become a geopolitical arms race driving big military budgets and national security prioritization.
- That competition will accelerate adoption regardless of civilian energy concerns.
