Helping our clients achieve superior risk-adjusted portfolio performance
is Merk's mission

If you still doubt we're in a new era of industrial policy, consider this: the Pentagon is now in the mining business. cnbc.com/2025/07/10/pen…

When your currency is weak, your family silver is up for grabs.

Today’s case in point: Kellogg’s reportedly in talks to be acquired by Italy’s Ferrero.

For the Fed nerds out there, the Fed is undergoing its 5 year review. Except, what exactly is the Fed up to? Remember, the backward looking inflation averaging is still on the books as official policy. Then came the Great Inflation, but never any soul-searching. The 5 year review

What do you call someone who's thrilled their favorite investment is rising — and terrified about what that says about the future? #askingforafriend

Over the past 90 days, in one of my monitors, "everything" is up. 🤔

BREAKING: Harvard to merge with Liberty University
Not really—but the new budget bill taxes university endowments based on endowment per student. With ~100K students, Liberty would help Harvard cut its tax bill. Institutions respond to incentives… and politicians might back off.

Thank God for the Founding Fathers! 🇺🇸