Recorded live in Puerto Rico, this special episode of The Derivative features host Jeff Malec with guests Brent Johnson, Jason Buck, and Mark Tower exploring how alternative investments are behaving in a world shifting from globalization to de‑globalization. The panel covers why some managed futures and volatility strategies haven’t delivered as expected in recent crises, the growing stress in private credit and liquidity mismatches, and the evolving roles of gold and Bitcoin as hedges against instability and fiat risk. They also dig into de‑dollarization versus continued dollar dominance, the power and data‑center boom tied to AI, and the coming capital wave into defense‑related technology and critical minerals. Finally, they debate whether AI is a truly transformational, deflationary force or just another tech cycle, how it may reshape portfolios, and how Puerto Rico’s unique tax regime influences where and how to run active trading strategies. SEND IT!

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Chapters:

00:00-01:53= Intro

Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.rcmalternatives.com/disclaimer⁠⁠⁠⁠