GM57: Navigating the Next Decade ft. Kiril Sokoloff
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 714 Ratings
🗓️ 14 February 2024
⏱️ 63 minutes
🧾️ Download transcript
Summary
Legendary strategist Kiril Sokoloff, founder and Chairman of 13D Research, joins Alan Dunne in this episode for a whirlwind tour of where Kiril sees the risks and opportunities in global markets over the next decade. Kiril outlines the reasons behind his belief that the secular bull market in bonds is over and a secular bear market is now underway. They discuss implications of climate change decarbonisation, the ageing global economy, rising debt levels and the growing risk of a significant derailment of the global economy from protectionism. Kiril explains why he is bullish oil, copper, uranium and gold and why gold mining stocks are the cheapest asset on the planet and his top contrarian call. They discuss China’s current economic challenges and why Kiril remains upbeat on the longer-term outlook for China and Chinese stocks but why there may be even greater opportunities in India.
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Episode TimeStamps:
02:31 - Introduction to Kiril Sokoloff
05:21 - Are we heading back to "normal"?
11:17 - Will China become an inflationary force?
14:30 - Is China still investable?
17:05 - A Chinese confidence crisis
18:45 - The outlook for inflation from a historical perspective
23:13 - What is going on in the oil market?
25:45 - What drives the shift towards solar energy in China?
27:57 - The move towards nuclear energy
29:55 - U.S vs. Europe vs. China
33:12 - How to position for the next 20 years
35:12 - Why is Sokoloff a fan of gold?
39:13 - A move away from the dollar
44:50 - Understanding the gold market
49:05 - How will AI impact the economy?
51:30 - India - the next China?
53:34 - How will the decarbonization evolve?
55:38 - Sokoloff's favorite contrarian calls
57:50 - Sokoloff's process for generation ideas
59:24 - Advice for other investors
02:02:03 - Thanks for listening
Copyright © 2025 – CMC AG – All Rights Reserved
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Transcript
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| 0:00.0 | And I think there's a lot of frustration among many countries that the U.S. has used its dollar |
| 0:14.4 | hegemony, and they want to get away from that system into something else. |
| 0:19.4 | I think that we're not too far away from a major |
| 0:23.8 | breakout in the price of gold. So it's been straining underneath its all-time high. It's now been |
| 0:30.8 | going on for quite some time. And it's just, you know, if you look at, you talk to chart people |
| 0:37.1 | that say, this is good. |
| 0:38.4 | It is marking time. |
| 0:39.7 | It is gaining power. |
| 0:40.9 | It is gaining strength. |
| 0:42.9 | Really blast out. |
| 0:44.5 | And when that happens, then everybody will wake up. |
| 0:47.3 | When that will happen, I don't know. |
| 0:51.5 | Imagine spending an hour with the world's greatest traders. Imagine learning from their |
| 0:56.4 | experiences, their successes, and their failures. Imagine no more. Welcome to Top Traders Unplugged, |
| 1:04.0 | the place where you can learn from the best hedge fund managers in the world so you can take your |
| 1:08.6 | manager due diligence or investment career to the next level. |
| 1:12.4 | Before we begin today's conversation, remember to keep two things in mind. All the discussion |
| 1:17.1 | we'll have about investment performance is about the past, and past performance does not |
| 1:21.6 | guarantee or even infer anything about future performance. Also understand that there's a significant |
| 1:26.7 | risk of financial loss with |
| 1:28.2 | all investment strategies, and you need to request and understand the specific risks from the |
| 1:33.1 | investment manager about their product before you make investment decisions. Here's your host, |
... |
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