Around The World With Yusko

In this episode of Around the World, Mark breaks down the key themes shaping markets ahead of the U.S. midterm elections and explores why politics, monetary policy, and global macro trends are becoming increasingly intertwined. From the prospects of a "Blue Wave" and its potential impact on healthcare, defense, energy, and data center investments to the broader implications for inflation, interest rates, and economic growth, he shares his latest market views. Mark also examines the growing competition between the U.S. and China in AI, energy infrastructure, and technological leadership, as well as the global debt market challenges and the potential risks posed by stretched equity valuations.    Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

Is "Uptober" still alive, or is the market floating higher on borrowed helium?  In this episode of Around the World, Mark Yusko breaks down the forces driving markets higher while warning about the growing risks lurking beneath the surface. From surging government debt and rising bond yields to private credit stresses, AI-driven speculation, and unprecedented market concentration, Mark examines why today's economic environment may be far more fragile than headline indexes suggest. The conversation also explores Bitcoin, the long-term implications of currency debasement, potential opportunities in venture capital and income-producing assets, and the widening gap between Wall Street and Main Street. Along the way, Mark discusses whether investors should be hedging risk, where he thinks value can still be found, and what could challenge the market's seemingly unstoppable climb.      Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

In this episode of Around the World with Yusko, Mark explores whether AI is truly rewiring the global economy or whether investors are beginning to fall victim to another cycle of extrapolation and excess. Framed around the explosive growth in AI-related capital spending, he examines how hyperscalers, chipmakers, memory companies, and data center operators have become the primary drivers of both market performance and economic growth. He questions the sustainability of trillion-dollar AI infrastructure buildouts, challenges optimistic forecasts for AI's contribution to GDP, and highlights the growing dependence of major technology companies on debt and financial engineering to fund expansion. Along the way, he analyzes the rapid decline in AI model pricing, the rise of Chinese AI and semiconductor competitors, the global boom-and-bust cycle in memory stocks, and the extraordinary concentration of value creation in Taiwan, Korea, and a handful of technology leaders. While AI may ultimately transform the global economy, investors should be wary of assuming that today's winners, valuations, and growth rates can continue indefinitely.  Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

In this episode of Around the World, Mark dissects a market rally unfolding against a backdrop of global instability. From the on‑again, off‑again Iran conflict and its ripple effects on oil, inflation, and global trade, to the disconnect between deteriorating fundamentals and soaring asset prices, the episode explores how geopolitics, central banks, and doublethink are shaping today's market psychology. Along the way, Mark draws parallels to 1973 and 2000, examines valuations in equities and AI, questions the sustainability of the rally, and explains why Bitcoin, liquidity, and real assets may be telling a very different story beneath the headlines.    Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

In this episode of Around the World, Mark breaks down how the sudden escalation of the Iran conflict is reshaping global markets and geopolitical risk. The closure of the Strait of Hormuz has caused one of the largest oil supply disruptions in modern history, sending volatility surging as investors debate how high prices could go. We explore China's strategic stockpiling, Iran's escalating retaliation tactics, and the surprisingly muted initial market reaction despite growing evidence of a prolonged energy shock. With U.S. political odds shifting alongside rising gas prices and intensifying global debt pressures, the conflict is colliding with an already fragile economic backdrop. Equity markets may be cracking under the strain, with treasuries potentially failing to act as the traditional safe haven. The episode wraps with insights on crypto, commodities, and what this geopolitical realignment could mean for the months ahead.    Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.

Mark Yusko returns with his highly anticipated "Around the World: 10 Surprises for 2026," opening with a Top‑Gun‑worthy flyby through the global macro landscape before diving straight into the turbulence ahead. He breaks down the forces that could define the year: the K‑shaped economy, AI's outsized impact on GDP, the global debt bomb, the unraveling yen carry trade, Europe's political tightrope, China's long‑game positioning, and the next phase of Bitcoin's four‑year cycle. Mark explains why the risks everyone obsesses over often aren't the ones that matter, and where real opportunity tends to emerge when liquidity, psychology, and policy collide. As Viper reminds us, "A good pilot evaluates what's happened… so he can apply what he's learned."     Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

In this year-end edition of Back Around The World, Mark Yusko unpacks the highs, lows, and jaw-dropping surprises that shaped the global economy in 2025. The year opened with markets at record highs and investor euphoria, only to be jolted by tariff wars, recession fears, and wild volatility. Tariffs dominated headlines for months, sparking trade tensions and policy uncertainty that rattled global markets. Meanwhile, AI optimism and tech valuations soared to levels rivaling the dot-com bubble, even as economic fundamentals weakened. Bitcoin reached new all-time highs, gold surpassed $3,000, and global liquidity fueled a stunning rebound across equities despite mounting debt and consumer stress. As the year closed, animal spirits returned, but questions linger about whether this rally is built to last. Join us as we turn back the tape to discuss an extraordinary year for markets.  Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions. 

  In this episode of Around the World with Yusko, Mark Yusko applies Samuel Taylor Coleridge's concept of the "willing suspension of disbelief" to today's markets, challenging listeners to separate optimism from economic reality. From the birth of central banking to the AI-driven boom, Yusko traces how belief, leverage, and monetary policy have fueled centuries of speculative cycles. He examines bubbles from WeWork and Beyond Meat to nuclear startups and quantum computing, highlighting the widening gap between enthusiasm and the underlying fundamentals. Along the way, he contrasts fiat devaluation with the strength of scarce assets like gold and Bitcoin, dissects the "infinite money glitch" behind tech valuations, and considers what history suggests about the next correction. Blending sharp analysis and perspective, this episode offers a global, data-driven look at where he thinks we are in the investment cycle.  Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.   

In this episode of Around the World, we dive into the surprisingly "relentless summer melt-up" that has sent markets worldwide to all-time highs. We examine the potential for a speculative bubble and the surprising disconnect between political rhetoric and economic reality on issues like trade wars and tariffs. The discussion also explores the historical context of the market rally, the psychology of investors, and the potential impact of the retiring boomer generation on market dynamics.      Want more?     Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.    Visit us on the web at https://www.morgancreekcap.com.    Legal Disclaimer  This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.   

On this sizzling summer edition of Around the World with Yusko, Mark returns from Yosemite to deliver a wide-ranging midyear global markets update. From the ongoing saga of Trump's tariff threats to meme-stock madness, rising credit stress, and the surprising comeback of gold miners and European equities, Mark connects the macro dots across asset classes worldwide. He also dives into the latest news about Bitcoin treasury companies, stablecoins, and whether the Federal Reserve will switch its course after Jackson Hole. Packed with sharp insights and charts, this is an update you won't want to miss! Want more?   Watch the "Around The World With Yusko" webinar series live by contacting us at [email protected]. Watch it after the fact at https://www.morgancreekcap.com/market-commentary/#investment-themes.   Visit us on the web at https://www.morgancreekcap.com.   Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or as a solicitation for the sale of any security or any advisory or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.