Video News/In Focus with Jeremy Szafron

Fr. Emmanuel Lemelson, Chief Investment Officer at Lemelson Capital Management, says current market conditions reflect a financial system that has become increasingly detached from economic fundamentals. Speaking with Kitco News anchor Jeremy Szafron, Lemelson pointed to sharp volatility in energy markets and warned that recent price swings may represent only early signals of broader instability across financial assets. Lemelson challenged assumptions that gold alone can serve as a guaranteed safe haven during geopolitical crises. He argued that in extreme circumstances, geopolitical power can override financial theory, stating that “it’s the guy with the biggest military that’s gonna take what he wants.” Lemelson also criticized passive investing and warned that retail investors can become “exit liquidity” for large hedge funds during market downturns. The conversation also addressed structural risks in artificial intelligence equities, private credit markets, and broader concerns about transparency and governance across financial institutions.