Macro Strategy and Investment Insights by Tavi Costa
Otavio (Tavi) Costa: Fed hiking into slowdown is a problem
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, expressed concern about the prospect of the U.S. Federal Reserve likely continuing to raise interest rates even as economic growth slows. ...
Silver miners break past long-term resistance versus silver, Otavio (Tavi) Costa notes
Silver miners have broken above a decade-long resistance line relative to silver itself. Otavio (Tavi) Costa described this as one of the most important moves seen ...
Otavio (Tavi) Costa: Silver trades nearly 30 percent below 200-day moving average
Silver is currently trading almost 30 percent below its 200-day moving average, a level not seen since March 2020. Otavio (Tavi) Costa, portfolio manager at Crescat Capital, suggested that the ...
Gold miners have rallied during major Nasdaq 100 declines, Otavio (Tavi) Costa notes
The last time the Nasdaq 100 experienced a sharp decline while gold miners rallied was during the March 2020 crash. Otavio (Tavi) Costa, portfolio manager at Crescat Capital, pointed out that a ...
Otavio (Tavi) Costa: Largest copper miners to report lowest annual production in nearly 15 years
The largest copper miners are expected to report their lowest annual production in nearly 15 years, according to Otavio (Tavi) Costa. The portfolio manager at Crescat Capital highlighted a 16% ...
U.S. dollar approaches major turning point, Otavio (Tavi) Costa argues
Otavio (Tavi) Costa, Otavio (Tavi) Costa of Crescat Capital, described positioning in the U.S. dollar as being at one of its most extreme levels in recent years. He described the currency as ...
Otavio (Tavi) Costa: Current silver market lacks past supply response
Current silver market conditions differ significantly from the 2011 peak, according to Otavio (Tavi) Costa of Crescat Capital. He says that while the previous rally saw a substantial increase in ...
Conviction faces a test as hard asset sellers dwindle, Otavio (Tavi) Costa notes
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, suggested that the current sell-off in hard assets may be reaching a point where few sellers remain and that markets often challenge ...
Otavio (Tavi) Costa: Fed remains far from inflation target in tightening cycle
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, argued that the Federal Reserve is still far from reaching its inflation target and is in the final stretch of its tightening cycle. ...
Gold miners would have strongest profit margins in market today, Otavio (Tavi) Costa says
Otavio (Tavi) Costa described gold miners as a sector that would currently have the cleanest balance sheets, the strongest profit margins, and the most attractive valuations in the market. Costa ...
Otavio (Tavi) Costa: Only 10 percent of miners remain above 200-day moving averages
Only 10% of miners are currently above their 200-day moving averages, according to Otavio (Tavi) Costa, portfolio manager at Crescat Capital. Costa added that such low levels have historically ...
Dollar does not attract usual demand during selloff, Otavio (Tavi) Costa states
Otavio (Tavi) Costa observed that the dollar's muted response was the most important aspect of today's market action. Costa, a portfolio manager at Crescat Capital, questioned the notion that ...
Otavio (Tavi) Costa: Gold correction nearly matches 2008, opportunity seen after pullback
Gold has already corrected by nearly the same amount as it did in 2008, according to Otavio (Tavi) Costa. Costa, a portfolio manager at Crescat Capital, stated that while many are behaving as if ...
Sticky inflation and lower rates could reshape assets, Otavio (Tavi) Costa writes
Otavio (Tavi) Costa, a portfolio manager at Crescat Capital, said recent inflation data indicate that inflation is likely to remain persistently high for the next decade. Costa added that central ...
Otavio (Tavi) Costa: Gold miners have highest free cash flow yield among U.S. equities
Gold miners would be the cheapest group in a comparison of U.S. equity sectors if they were considered a standalone sector, according to Otavio (Tavi) Costa. Costa cited an approximate 10 percent ...
Copper remains resilient while other metals decline, Otavio (Tavi) Costa notes
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, described the current divergence between copper and silver as remarkable, highlighting copper’s resilience despite a broader sell-off ...
Otavio (Tavi) Costa: Precious metals see major run-up and correction near support
Otavio (Tavi) Costa, who is a portfolio manager at Crescat Capital, described the current situation with precious metals as having seen a major run-up followed by a healthy correction, now resting ...
U.S. mortgage rates approach 7.5 percent tightening market, Otavio (Tavi) Costa notes
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, highlights the impact of rising U.S. mortgage rates now approaching 7.5 percent. He observes that higher rates are making it ...
Otavio (Tavi) Costa: Commodity cycle sets up Brazilian stocks before elections
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, writes that Brazil's commodity cycle was already paving the way for gains in Brazilian stocks prior to elections. He adds that ...
Shift toward international markets underway, Otavio (Tavi) Costa notes
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, suggests that a long-term shift away from U.S. exceptionalism and toward international markets could be in its early stages. He ...
Otavio (Tavi) Costa: Brazil poised for extraordinary new chapter after major bull cycle
Otavio (Tavi) Costa, portfolio manager at Crescat Capital, reflects on what he considers a significant night for Brazil. He suggests the country could be entering an extraordinary new phase. ...
