Monetary Matters with Jack Farley Why Silver Is Flowing East | Alex Campbell on Solar, Scarcity, and the Six-Sigma Silver Crash (Plus: SaaS & AI)
33 snips
Feb 3, 2026 Alexander Campbell, founder of Rose AI and ex-Bridgewater commodities lead, explains why silver is moving East and why solar made it industrially vital. He outlines Shanghai-West price gaps, physical flow frictions, and how speculative flows amplify moves. He also warns of an AI-driven shakeup in software, predicting shifts to local compute, open models, and value accruing to data and hardware.
AI Snips
Chapters
Books
Transcript
Episode notes
Don't Trust Snapshot Shanghai Premiums
- Compare Shanghai and Western prices on synchronized timestamps before drawing conclusions about a persistent premium.
- Watch VAT treatment, differing market hours, and inventory flows to avoid being misled by headline premiums.
Short-Gamma Mechanics Supercharged Moves
- Short-gamma option hedging amplified both the melt-up and the crash: market-makers hedged by buying on rises and selling on falls.
- That mechanical flow magnified realized moves beyond fundamental buying or selling.
Respect Volatility—De-Risk After Big Runs
- Reduce exposure if you can't tolerate large, fast drawdowns; expect chop while short-vol positions unwind.
- Consider staying patient and trimming delta after big runs rather than reloading into immediate volatility.
