Monetary Matters with Jack Farley Why Carson Block Won’t Short AI Names Until the IPOs Begin & Muddy Waters’ Pivot to Long Resources Stocks & S&P 500 Momentum
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Feb 4, 2026 Carson Block, founder of Muddy Waters Capital and a forensic short-seller turned diversified allocator. He explains why he won’t rush to short flashy AI names until an IPO flood creates supply. He also discusses Muddy Waters’ shift into metals and mining, Vietnam and India opportunities, and a momentum-driven S&P 500 strategy. Topics cover timing, hype versus supply, and expanding long strategies.
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Prefer Near-Surface, Buyable Deposits
- Favor greenfield deposits with near-surface mineralization and accessible infrastructure.
- Such assets raise the likelihood of major acquisition and better project economics.
Only Short Producing Miners
- Avoid shorting non-producing miners because hype can persist for years.
- Target producing miners that will likely miss market expectations for short positions.
Talent Shortage Creates Mining Inefficiency
- Under-allocation of human and financial capital to mining creates investable inefficiencies.
- Less competition and poor operators make deep research particularly rewarding.