Mike McGlone says gold, copper and even Bitcoin have become "stock puppets," so correlated with the S&P 500 that a 10% drop in stocks could crush them all together. Why the asset you thought was a hedge may not be diversifying you at all. Bloomberg commodity strategist Mike McGlone joins Maggie Lake to explain why nearly every major asset, from metals to crypto to oil, is now trading on the back of one thing: the US stock market. He walks through why gold's push above $5,000 and its pullback are a warning rather than a new bull trend, why copper and Bitcoin are lagging stocks at much higher volatility, why he expects crude and diesel to revert to their cost of production, and why he sees a disinflationary reset coming once equities stall. What McGlone covers: Why gold, copper and Bitcoin have become correlated "stock puppets" of the S&P 500 The bond market, the 10-year yield above 5%, and what is really driving it Why he expects energy prices, especially diesel, to revert sharply lower Gold's exciting volatility as a warning sign, not a reason to chase it Why he thinks Bitcoin's cycle still points toward a much lower low Grains, soybeans and the one commodity group that is not a stock puppet Why a 10% drop in the stock market is the real risk to watch this cycle 💡 Gold, copper and Bitcoin may look like diversification, but Mike McGlone argues they could all be more tied to the stock market than investors realize. If your portfolio is counting on those assets to protect you when equities fall, it may be worth taking a closer look. Is your portfolio really diversified? Get a complimentary portfolio review → Go to https://bit.ly/4e9LsJV to get started. Connect with us online: Website: https://www.wealthion.com Spotify Podcast: https://open.spotify.com/show/4wCAfhgUdspxeMqyi6KZkb Apple Podcast: https://podcasts.apple.com/us/podcast/wealthion-be-financially-resilient/id1566889716 X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ Facebook: https://www.facebook.com/Wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.