Investors / stance tracking
What Larry Lepard is saying
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15 dated public stances tracked since 2025-02-12, most recently 2025-09-09. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Larry Lepard's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Larry Lepard is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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15
tracked stances
10
themes
0
side flips
2025-09-09
last heard
Returns 90d +14.1% 92% correct · 12 calls · 180d +41.1% 75% correct · 12 calls · 1y +54.3% 75% correct · 12 calls
Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances. “% correct” is the share of those scored calls whose direction-aware return was positive at the horizon — in a rising market a bullish call is correct by default, so read it beside the market, not alone.
Scored calls
Every tracked call with at least one matured horizon: the rows behind the Returns line above. A dash is a horizon that has not matured yet.
| Date | Name | Call | 90d | 180d | 1y |
|---|---|---|---|---|---|
| 2025-09-09 | long ARIS / long BTG / long EQX / long DPM (+4 legs) | basket | +21.7% | +55.1% | +112.6% |
| 2025-09-09 | SILVER | owns | +41.8% | +110.5% | +63.3% |
| 2025-09-09 | Long Dur Treasuries | bearish | +0.5% | -2.2% | +4.2% |
| 2025-09-09 | GOLD | bullish | +15.4% | +41.5% | +20.7% |
| 2025-09-09 | BITCOIN | bullish | -18.7% | -40.8% | -29.8% |
| 2025-04-14 | Gold Miners | bullish | +4.9% | +58.7% | +102.9% |
| 2025-04-08 | SILVER | bullish | +23.2% | +62.3% | +148.6% |
| 2025-04-08 | BTG | bullish | +39.0% | +102.2% | +86.8% |
| 2025-04-07 | AEM | bullish | +23.0% | +72.0% | +112.2% |
| 2025-02-12 | Long Dur Treasuries | bearish | +0.5% | -2.4% | -6.9% |
| 2025-02-12 | GOLD | bullish | +11.9% | +15.3% | +68.6% |
| 2025-02-12 | BITCOIN | bullish | +6.5% | +21.3% | -32.3% |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| BITCOIN | 2 | 2 bullish | 2025-09-09 | |
| GOLD | 2 | 2 bullish | 2025-09-09 | |
| Long Dur Treasuries | 2 | 2 bearish | 2025-09-09 | |
| SILVER | 2 | 2 bullish | 2025-09-09 | |
| AEM | 1 | 1 bullish | 2025-04-07 | |
| BTG | 1 | 1 bullish | 2025-04-08 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2025-09-09
long ARIS / long BTG / long EQX / long DPM (+4 legs)
basket
Wealthion · video
Mid-tier gold producers trade at 4-6x EBITDA versus 12x+ for majors, yet are small enough to grow production meaningfully — offering three compounding drivers (gold price, production growth, multiple expansion) that the mega-caps cannot deliver
90d +21.7% · 180d +55.1% · 1y +112.6%
Larry Lepard: “$4,000 Gold Is in Sight”
Gold formed a textbook bull flag at $3,500 implying a $4,000 target; the fundamental driver is the sovereign debt trap forcing Fed monetization, Trump pushing 300bp rate cuts, M2 running at 4.8% and rising, all pointing to an inflationary decade that is only…
“I'm pretty comfortable we'll get to $4,000”
90d +15.4% · 180d +41.5% · 1y +20.7%
Larry Lepard: “$4,000 Gold Is in Sight”
2025-09-09
Long Dur Treasuries
bearish
Wealthion · video
Long-duration bonds offer yields well below true inflation rates, and if the bond market sells off materially the Fed will be forced into yield curve control — printing money to buy all tenors — guaranteeing purchasing power destruction for holders
“the worst investment in the world today are long duration bonds in my opinion”
90d +0.5% · 180d -2.2% · 1y +4.2%
Larry Lepard: “$4,000 Gold Is in Sight”
Bitcoin remains in the upswing of its four-year cycle, has formed a bull flag around $108-110K, and monetary debasement plus M2 acceleration support a $150-250K cycle top expected December 2025 through June 2026
“I feel like there's a pretty good chance we'll be 150 to 250 on this cycle”
90d -18.7% · 180d -40.8% · 1y -29.8%
Larry Lepard: “$4,000 Gold Is in Sight”
Silver has broken out of a decade-long cup-and-handle pattern, faces chronic supply deficits, surging industrial demand from Chinese solar (30%→50-60% of world production) and solid-state EV batteries, and institutional investment demand is newly flowing into…
“I am way bowled up on silver. I think we're going to 50, 60, 70 this year”
90d +41.8% · 180d +110.5% · 1y +63.3%
Larry Lepard: “$4,000 Gold Is in Sight”
2025-09-09
FRES
owns
Wealthion · video
Fresnillo is the world's largest silver producer — the 'Newmont of silver' — providing a dominant blue-chip position in silver at the moment institutional money is beginning to allocate to the metal
“I didn't mention Fresnillo when I was going through the silver. It's one of our largest positions. I love that company.”
Larry Lepard: “$4,000 Gold Is in Sight”
2025-09-09
DPM
bullish
Wealthion · video
Dundee Precious Metals is a disciplined capital allocator that compounds value through smart acquisitions (e.g., Adriatic) and developing its mine pipeline, giving it a clearer production growth runway than mega-caps at attractive EBITDA multiples
“Dundee is one of my favorite names. I just love that company. Love the stock.”
Larry Lepard: “$4,000 Gold Is in Sight”
2025-04-14
Gold Miners
bullish
Wealthion · video
Gold equities are priced on a false consensus that gold would revert from $2,500 to $2,070; with gold repricing sustainably higher to $3,500-4,000 and miners earning 50-60% gross margins per ounce, a consensus reset should drive 100%+ gains in gold stocks…
“everything in there could double or triple and it still wouldn't be expensive”
90d +4.9% · 180d +58.7% · 1y +102.9%
Jim Grant, Larry Lepard, John Hathaway & More on Gold’s Historic Bullish Setup
Silver could double from $30 to $60 in 1.5-2 years as a smaller, more volatile monetary-plus-industrial market with persistent industrial demand from solar and chips that leaves little above-ground stock
“silver's at 30 now. I mean, silver could double to 60 in my opinion”
90d +23.2% · 180d +62.3% · 1y +148.6%
Larry Lepard: Gold Stocks Are Set to Explode | The Big Print & Asymmetric Bets | Part II
B2Gold has been a sustained laggard offering a cheap entry while the Goose project de-risks the stock and concerns about the Mali mine are overstated given operator security expertise in Africa
“B2 has been a laggard, right? You can still buy it cheap”
90d +39.0% · 180d +102.2% · 1y +86.8%
Larry Lepard: Gold Stocks Are Set to Explode | The Big Print & Asymmetric Bets | Part II
2025-04-08
CLEAN AIR METALS
bullish
Wealthion · video
A platinum-palladium drill story in Ontario with a compelling deposit that is 'silly cheap' relative to in-ground resource value, in a low-geopolitical-risk jurisdiction, with recent insider buying
Larry Lepard: Gold Stocks Are Set to Explode | The Big Print & Asymmetric Bets | Part II
One of the few major gold miners that has consistently replaced what it mines and grown shareholder value at scale, making it a rare exception worth owning among large-caps.
90d +23.0% · 180d +72.0% · 1y +112.2%
Larry Lepard: The Fiat System Is Failing - Gold Exploding Is the Alarm Bell | Part I
Gold is the analog sound money hedge to US sovereign debt crisis; the bond market is already signaling system stress (10-year yields rose 120bps after the Fed's first cut, steepest on record), and gold's 27% 2024 gain despite dollar strength shows it is…
“Gold's not stopping at 3,000, gold going to 10,000”
90d +11.9% · 180d +15.3% · 1y +68.6%
Larry Lepard: The Big Print To $7 Million Bitcoin & $10k Gold
Said again: 2025-04-14 (Wealthion)
2025-02-12
Long Dur Treasuries
bearish
Wealthion · video
With the US in a compounding sovereign debt crisis and the bond market already pricing risk (10-year yield up 120bps in three months after the Fed cut — historically the steepest such move), holders of 10- and 30-year Treasuries at ~4% will see substantial…
“10 year at 4% no, 30 year at 4% no”
90d +0.5% · 180d -2.4% · 1y -6.9%
Larry Lepard: The Big Print To $7 Million Bitcoin & $10k Gold
Bitcoin's fixed 21M supply makes it the first monetary network in history with zero dilution, and it accretes value via network effects the same way Amazon/Google did, while the US debt doom loop guarantees further monetary debasement that drives demand for…
“Bitcoin is digital sound money...they're coming”
90d +6.5% · 180d +21.3% · 1y -32.3%
Larry Lepard: The Big Print To $7 Million Bitcoin & $10k Gold
Said again: 2025-04-07 (Wealthion), 2025-04-14 (Wealthion)
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