These Are the Years of Plenty

By Ed D'Agostino | February 14, 2025

My friend Jacob Shapiro is back for another Global Macro Update interview, and he sees ample opportunities for investors who can tune out white-noise media and look around:

If you go back to previous eras like this, the 1890s is the one that I like to compare it to… These are times of incredible technological innovation… we're on a total energy regime change for the first time in a hundred years.

There is an awful lot of opportunity out there… Look around and say, “Okay, well if all this is happening, we need to build switches in telecoms towers,” or “we're going to need a lot more of this particular material.” And nobody seems to realize that. I think those types of generational opportunities are out there if you don't get distracted by all the negativity…

For the next five, 10 years, these are the years of plenty. Prepare for the years of famine ahead by making good decisions now.

Jacob is the head of geopolitical and macro research at Bespoke Group. In our interview, we discuss where some of these opportunities lie in our multipolar world, including Indonesia and Brazil. He likens the latter to the US because of its vast energy resources and low-cost ag commodity production.

We also cover economic resiliency, US energy security, and the ripple effects of tariffs on US-China relations. Jacobs explains why the steel/aluminum tariffs are different than the initial China-Canada-Mexico tariffs, which were really tools for leverage.

Watch my interview with Jacob Shapiro now by clicking the image above. A full transcript of our conversation is available here.

Thanks for reading and watching.

P.S. If you find this letter valuable, you should consider investing with me in Macro Advantage—where we uncover the forces shaping tomorrow’s markets, identify companies poised to thrive, and build resilient portfolios designed to weather inflation, economic shifts, and geopolitical shocks. Click here to learn more.

Suggested Reading...

Don't let friends miss this timely insight—
share it with your network now.