Happy Halloween! 🎃 As October draws to a close and the ghosts of market fears and global uncertainty linger, this month’s issue of Invested proves that not everything goes bump in the night. From resilient markets that refuse to be spooked by inflation or tariffs, to a new era of philanthropy rising from the ashes of old aid models, this issue explores transformation in motion.
We also dig into gold’s record-breaking run, a rally that’s defied rising rates and underscored its enduring power as a macro hedge in uncertain times.
You’ll find insight into shifting global power dynamics, evolving energy futures, and even how GPUs might soon rival oil in value. It’s a mix of strategy, foresight, and a little Halloween symbolism, because in today’s markets, it pays to know what’s real and what’s just smoke and mirrors.
Read on—if you dare—to uncover the stories shaping our financial and philanthropic landscape!
VIEWPOINT SPOTLIGHT
INSIGHTS FROM THE VIEWPOINT TEAM
Viewpoint Quarterly Commentary Now Available!
Markets rallied across asset classes in Q3 as resilient growth, easier conditions, and fiscal tailwinds kept optimism alive. The Fed’s new easing cycle faces “sticky” inflation and political pressure, but risk appetite remains strong. All three Viewpoint strategies outperformed, highlighting the strength of diversified, rules-based investing amid evolving macro conditions. Read on to get the full story from CIO Scott Smith.
From Gold Rush to Risk Rush: Concentration to Diversification
Gold’s rally has defied expectations and is surging even as real interest rates rise. Central banks are buying, retail investors are returning, and volatility is climbing. In a world of fractured geopolitics, gold’s strength underscores the value of diversification across commodities like silver, platinum, and palladium. Discover why balance is the new gold standard. Read more in this piece from CIO Scott Smith.
INSIGHTS FROM THE VIEWPOINT FOUNDATION
EXPLORING PHILANTHROPIC TRENDS & IMPACTFUL INITIATIVES
A New Age of Philanthropy & Foreign Development
Philanthropy is entering a new era, one defined by the steep cuts the U.S. recently made to foreign aid. Instead, those at the heart of the different crises being faced are asking for trust, collaboration in local solutions. As the old top-down aid model fades, new ideas like debt-for-health swaps and trust-based giving are reshaping how impact happens. Read on to find out more about how this shift is taking place in the latest piece from the Viewpoint Foundation.
OCTOBER’S INVESTMENT PULSE
WHAT TODAY’S MODERN MARKET TRENDS REVEAL ABOUT INVESTOR THINKING
Bill Gross Says Gold Is Now a ‘Momentum/Meme Asset’ — And If You Really Want To Buy It, You Should Wait Awhile
Gold’s rally has turned heads, but Bill Gross says not so fast. The legendary bond king warns gold has become a “momentum/meme asset” and could cool off soon, even amid deficit fears and slowing growth. Investors chasing the FOMO trade may want to pause before buying in. Read more about Gross’s cautious take by following the link below.
Posthaste: Gap Between Canada and the United States Economies Is Widening — and Trump’s Not Only to Blame
Canada’s economy is losing ground to the U.S. and not just because of Trump’s tariffs. Moody’s Analytics warns that weak productivity and overreliance on exports are widening the gap, with U.S. growth outpacing Canada’s two-to-one. Can new trade deals and infrastructure spending turn it around? Read more from this Financial Post article about what’s driving Canada’s slowdown.
Liquified Natural Gas Risks Becoming a Bridge to Nowhere
This Bloomberg article explores how liquified natural gas was supposed to bridge the gap between coal and renewables, but that bridge is collapsing. As solar surges and coal persists, LNG faces oversupply, falling prices, and waning demand, especially in Asia. What was once the future of energy may now be a dead end. Read more about LNG’s uncertain future by following the link below.
PODCAST PICK
UNLOCKING INSIGHTS, ONE EPISODE AT A TIME
The King of Chicago Trading Wants to Build a GPU Market Bigger Than Oil
Trading pioneer Don Wilson, founder of DRW, believes the next big market isn’t oil—it’s GPUs (Graphics Processing Units). In this live Chicago episode, he explains how AI chips could become the world’s next major traded commodity, what tokenization means for every asset, and how the future of trading is being rewritten. Listen now to this episode of Odd Lots for more.
MORE TO EXPLORE
CURATED READS FOR THE INQUISITIVE
The Family Plot: Giorgio Armani’s Will Puts Focus on Estate Planning for Founders
Giorgio Armani’s meticulously detailed will is reigniting debate over how much control founders should retain after death. Estate expert Ian Hull warns that “ruling from the grave” can backfire—emphasizing communication, aligned advisors, and realistic planning over rigid instructions. A fascinating case in legacy, leadership, and letting go. Read more in the article from Canadian Family Offices.
The World Economy Shrugs Off Both the Trade War and AI Fears
Despite trade wars and fears over AI-driven disruption, the global economy remains surprisingly strong. Growth has rebounded, corporate earnings are up, and only one OECD nation is in recession. While risks linger (like tariffs or slowing fiscal stimulus) markets continue to believe the momentum will hold. Read more about the world economy’s unexpected resilience in this article from The Economist.