About this episode
? Risk always hides in the details. Get a free portfolio review from Jonathan and the Rocklinc team here and see how exposed you really are: https://bit.ly/4aG9fi8
Markets look strong, but history shows even great businesses can fall 50–60% when valuations reset. In this conversation, Jonathan Wellum of Rocklinc Investment Partners joins Maggie Lake to explain why investors shouldn’t fool themselves about risk, especially as AI begins to disrupt business models across the economy.
Jonathan breaks down how value investors should focus on the playing field—what’s actually happening inside a business—rather than the short-term scoreboard of stock prices. He explains what real economic moats look like in the AI era, what matters in a business more than hype, and how to think about energy, electrification, and data center growth without betting on pure AI plays.
The conversation also covers today’s stretched market valuations, why you should hold cash and hedges, why tariff risks may already be priced in, and why the structural drivers behind gold remain intact in a world of rising debt.
?Get To Know Jonathan Wellum: https://youtu.be/ezMiX0FtZ7g
? Volatility is the price of uncertainty. Protection is a choice. Buy physical gold & silver through Hard Assets Alliance: https://www.hardassetsalliance.com/?aff=WTH
Chapters:
1:31 – What Real Moats Look Like in the AI Era
7:30 – When Patience Pays: Holding Through Volatility
12:53 – Where to Invest in Energy & Electrification Without Chasing AI
17:17 – ? Wealthion Golden Nugget: Valuations, Bubbles & the Risk of a Market Reset
21:56 – Are Tariff Risks Already Priced In?
25:34 – Why Gold’s Structural Tailwinds Aren’t Going Away
28:40 – Rebalancing: The Discipline Most Investors Skip
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IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.
While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor.
We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.
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