In this episode of the Elevate Roundtable, the team opens up with a discussion of recent bear sightings in Ken's neighborhood. They then review strong year-to-date equity gains alongside gold’s recovery, discussing preparation for US debt pressures after limited Treasury purchases of long-term bonds. Shane outlines the group’s defensive posture, adding gold to passive strategies and questioning whether economic growth alone can resolve the expanding debt burden.

The conversation continues with proposed bond adjustments, favoring shorter-duration holdings amid rising rates, and a cautious stance on further Bitcoin additions given its tech-like correlation. Attention then shifts to hyperscalers’ transition from capital-light software models to capital-intensive data-center and GPU operations, which Shane warns could compress margins and echo ...