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Unchained

What’s the Better Bet? Stocks or Gold? - Ep. 916

Unchained

Laura Shin

Business News, News, Tech News

4.61.3K Ratings

🗓️ 3 October 2025

⏱️ 59 minutes

🧾️ Download transcript

Summary

Is gold the ultimate hedge against inflation and sovereign risk? Or are stocks the better long-term wealth builder thanks to innovation and earnings growth? In this heated and highly entertaining episode, Ram Ahluwalia (Lumida Wealth) and Vinny Lingham (Praxos Capital) dive deep into the macro landscape to debate the relative merits of gold vs. the S&P 500. Along the way, they explore: Gold’s decentralization vs. Bitcoin Why share buybacks might be distorting wealth creation The role of inflation, AI, fiscal dominance, and central banks The logic behind each of their portfolios And to make things more interesting? They make a $10,000 bet on whether gold or the S&P 500 will perform better over the 9 months. Token2049 Binance Ram Ahluwalia, CFA, CEO and Founder of Lumida Vinny Lingham, Co-founder of Praxos Capital Timestamps: 🎬 0:00 Intro 📈 4:30 Why Ram argues stocks are the stronger long-term play 🥇 7:18 Why Vinny says gold is more decentralized than even Bitcoin 💵 12:08 Why Ram believes earnings make stocks the superior investment ♻️ 16:37 Why Vinny thinks stock buybacks are harmful for society 🌍 27:30 Is this still the best time in history to be alive? ⏳ 33:23 Whether its too expensive now to buy gold ⚡ 40:40 What Vinny predicts will trigger the next major macro crisis 🤝 42:56 The $10,000 bet: gold vs. the S&P 500 🤖 48:33 Whether we’re still early in the AI boom 🎤 54:15 Closing arguments from Ram and Vinny Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

We're over three right now, so you can't bet that it won't go to four.

0:03.0

I will bet you that it will not go to four. I will have to do that.

0:06.0

If you look at the charts around into money supply,

0:08.0

it appears that Bitcoin and gold are the two best assets to own in a market where there is infinite supply of fiat currencies.

0:15.0

The story of human history has been the story of human discovery,

0:20.0

innovation, entrepreneurship,

0:22.9

and forming cooperative enterprises

0:26.5

to serve others and make the world a better place.

0:29.4

My point is like on the long enough time scale,

0:31.6

something's gonna break.

0:35.0

Hi, good morning, good afternoon, good evening, everyone. Thank you for joining us for what should be a really fun discussion. I am Steve Earlitz, executive editor here at Unchained. And you're two very special guests, Ram Alawalia from Lumida Capital and then Vinnie Lingham from Taxus Capital. Thanks guys for joining. This conversation,

0:57.6

we're going to really debate the merits of gold versus stocks, the S&P 500. For those of you that

1:04.7

are regular watchers of the show, it stems from a debate that Vinny and Rom had during our

1:10.2

episode, I believe about two weeks ago.

1:12.5

And it was so exciting that the debate actually carried on in our private chat during the live

1:17.9

street. So afterwards, we all kind of decided it would make sense to give them the proper venue

1:22.1

to really kind of hash it out. So really excited to do that. We're going to start in a minute, but just

1:28.6

quick disclaimers, as always. Nothing that you're going to hear should be seen as investment

1:36.0

or financial advice for all necessary disclosures. Please check out our website.

1:41.3

I'm Shanecripto.com backslash bits and dips.

1:45.9

The crypto world is buzzing. On October 1st and 2nd, 25,000 people will be at Token 2049, Singapore,

1:52.4

the largest crypto event in the world, featuring headline speakers like Eric Trump,

...

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