Crescat News & Updates

Crescat December Performance Update

January 9, 2021 - It is time to gird for full Modern Monetary Theory. With the democratic sweep in place, we are about to experience even more of the double-barreled fiscal and monetary stimulus that we saw in 2020. Overwhelmingly today, such policies have served to incite animal spirits toward financial assets. Investors are already positioned, all in, on both stocks and bonds in the US creating a highly imbalanced market. Learn More »


January 7, 2021 - We disclose our activist position in Tombill Mines located primarily in Ontario, Canada. Learn More »

Tavi Costa Discusses Gold and Silver with Marc Friedrich

January 5, 2021 - Tavi Costa explains Crescat's macro view on precious metals. Learn More »

Crescat featured in market watch article

December 29, 2020 - “To be frank, buying gold or silver is not a contrarian investment position today,” Smith wrote. “There are enough people in agreement with the idea that all government backed fiat currencies are doomed to some level of devaluation through inflation due to the level of fiscal and monetary imprudence and unsustainable debt imbalances in the financial system.” Learn More »

Exploration companies to outperform in 2021 as inflation supercharges gold and silver

December 24, 2020 - What three companies do you like the most in 2021 and why? Eskay Mining, Eloro Resources, and New Found Gold. Learn More »

December Research Letter

December 23, 2020 - The End Game - Markets are cyclical. Today, stocks trade at record high valuations while commodities are historically undervalued in relation. The setup is in place for a macro pivot in the relative performance of these two asset classes. Learn More »


December 22, 2020 - Crescat discloses their activist position in Rokmaster Resources Corporation. Learn More »

Crescat’s Macro Presentation

December 19, 2020 - Crescat’s Portfolio Managers, Kevin Smith and Tavi Costa, provide insight on their current views of the economic environment and how their strategies are positioned to create value for Crescat clients. Learn More »


December 11, 2020 - A Golden Opportunity - From a timing perspective, the setup for selling overvalued US equities and buying undervalued precious metals today looks exceptional. The gold to S&P 500 ratio just posted its worst monthly decline in 37 years. In our analysis, this relative performance was an end of cycle move for the S&P 500 but only an early inning correction for precious metals. Learn More »

Crescat’s Macro Deck

December 11, 2020 - Crescat invites you to take a look through our current macro deck. This research is an important component of our investment process, illustrating how Crescat evaluations the broader market and positions within our five strategies. Learn More »

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