I don't buy that the fiat system suddenly broke in late 2025 and that alone explains why precious metals (and some other commodities) have gone parabolic.

Last week the Aluminum US Midwest Premium broke through the $1/lb mark. For those of you more familiar with the metric system, that's $2,204.62/mt.

I've seen a number of posts recently accusing CME Group of somehow trying to prevent silver prices from rising - the implication being the exchange is protecting banks that may be short silver futures.

I have seen nothing that would indicate the exchange is trying to control or influence prices.

Rebalancing weight is not just a personal resolution for January, the Bloomberg Commodity Index (BCOM) trims some weights as well.

Another real-life hedge...this one with Taylor Swift tickets.

Margin calls don't bankrupt traders - liquidity failures do.

With copper, silver and gold at multi-year highs, there's been a lot of noise recently about margin calls, including rumors of some banks struggling to meet them.

What is often missed is why margin calls happen, and why physical hedgers can be just as exposed as speculators, even when they are doing everything "right".

A $2,000/mt move in copper can turn routine hedging into a multi-million dollar liquidity event that can't be financed through borrowing bases or RCFs.

This article is a deep dive on:
▪️Initial vs variation margin
▪️How VM can grow exponentially
▪️ The liquidity trap for physical traders
▪️The importance of planning

I don't use AI to create posts for LinkedIn, it seems disingenuous to be giving out advice that you could get by typing in a prompt.

But a client recently asked me if the Perfectly Hedged LLC online course would help them with their Series 3 exam. Having never taken the Series 3, I wasn't sure how to answer. So enter AI...

Having a weakness is not a problem. Failing to identify it is.

Most people know nickel as a metal, very few know it's named after a mountain goblin.

Sometimes a backwardation doesn't mean physical tightness.

This is one of those cliches that gets thrown around, and largely ignored outside of listing your strengths on a resume. But when it comes to commodity trading, it can be the difference between saving the day and losing six figures.

The first time I saw this acronym I did a double take. For a second I thought my trader was telling me about a risqué quirk of his.

Of course it turned out to be something far less scandalous, but far more important.

Perspective - what you see isn't the same for everyone.

If you got that reference I hope your back feels ok this morning.

Athletes are paid too much, or are they?

Labor day began in the 1800s to honor workers who fought for fair wages and safer conditions during the Industrial Revolution.

Averaging on the London Metal Exchange is one of the most widely used methods of hedging. But the mechanics behind the trade are often misunderstood.

How do brokers establish the prices for average trades? How do inter-day contangos and backwardations impact your P&L?

With a new month just around the corner, now is a great time to brush up your knowledge and enhance your understanding.

Or in this case, about 800 extra miles, that's the distance between New York and Atlanta.

Three little words…

𝗙𝗿𝗼𝗺 𝗣𝗥 𝘁𝗼 𝗽𝗿𝗼𝗳𝗶𝘁: 𝗧𝗵𝗲 𝗿𝗲𝗮𝗹 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗘𝗦𝗚 𝗼𝗻 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 𝗺𝗮𝗿𝗸𝗲𝘁𝘀

Ten years ago ESG was seen by many as marketing spin. In 2025 it can make or break a commodity trader's business. From financing and insurance, to talent retention and consumer pressure, ignoring ESG causes more than reputational damage, it can mean losing access to markets altogether.

This article explores how ESG has shifted from a box-ticking exercise to a fundamental driver on profit, risk management, and long-term survival in commodity markets.