Episode
#372 Ted Oakley: Why Energy Could Surge Like Gold Did Last Year, and Most Investors Don't Own Enough
- Podcast
- The Julia La Roche Show
- Published
- May 21, 2026
- Duration seconds
- 1700
- Processing state
not_requested
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Summary
In this episode, Ted Oakley, founder and managing partner of Oxbow Advisors with 49 years in the business, returns to discuss the stark disconnect between Wall Street momentum and the collapsing consumer, revealing credit card and auto loan delinquencies are now at Great Financial Crisis levels while the economy has shifted from K-shaped to "i-shaped" with only a tiny dot at the top. He explains his letter "The Gambler" addresses how younger investors have abandoned real investing for a betting culture of sports gambling, one-day options, and Bitcoin, while most advisors no longer know when to "hold 'em or fold 'em." Ted maintains 50% cash in short-term treasuries, predicts inflation will hit 4.25% in May rising to 4.75% by fall with financial repression as the only way out of the debt trap, and reveals energy is his largest position up 35% year-to-date despite being only 3% of the S&P (it was 33% in 1980). He expects energy to rip like gold and silver did last year since nobody owns it yet, outlines his "well to the end" strategy covering producers to pipelines to rigs, confirms we're in early innings of a commodity super cycle, and warns speculation will continue pushing until a recession breaks the momentum. Ted draws parallels to 1999 when shorts got killed for nine more months, sees no recession on the horizon yet to break the fever, and cautions that baby boomers age 65+ hold more stock than ever in history making them the worst positioned he's ever seen for the eventual wealth transfer. Links: Oxbow Advisors: https://oxbowadvisors.com/ YouTube: https://www.youtube.com/@OxbowAdvisors X: https://x.com/Oxbow_Advisors Book: https://www.amazon.com/Second-Generation-Wealth-What-Want/dp/1966629168 Timestamps: 0:00 Introductio…