VanEck's Q2 2026 Market Outlook: Time To Bargain Hunt | Jan van Eck

Video Description

SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com When market uncertainty is as high as it is now, I often emphasize that the most useful people to interview are asset managers. Because they don't have the luxury of merely having an opinion on the road ahead -- they have to commit capital to their convictions, and be judged upon the results. Today we have the great fortune of having the return appearance of one of the most respected capital allocators in the business: Jan van Eck Jan is CEO of VanEck, an asset management firm with over $200 billion in assets under management invested across its wide family of ETFs and funds, spanning equity, bond, commodity, digital and regional asset classes. As we've done the past several quarters now, Jan and I will spend the next hour discussing his Q2 macro and market outlooks, as well as where he sees the biggest opportunities for investors right now. Learn more about vanEck funds at https://www.vaneck.com/us/en/ Or follow Jan on X @janvaneck3 Read Founding Brothers at https://www.amazon.com/Founding-Brothers-Revolutionary-Joseph-Ellis/dp/0375705244 #artificialintelligence #privatecredit #goldprice 1:26 – VanEck Investment Philosophy: Why Thematic Investing Matters 3:19 – Major Themes for Q2: AI, Private Credit, Gold, India & Bitcoin 4:58 – AI in Q1: Explosive Growth in Token/Compute Demand 5:47 – Hyperscaler Capex Explosion – Why It’s Locked In for 2026–2027 6:44 – Railroads vs AI: Will There Be Overbuilding of Compute Capacity? 9:02 – Impact of AI Capex on Hyperscaler Free Cash Flow 10:22 – The Monetization Shift: Corporate America Paying for AI (Not Consumers) 13:05 – VanEck Internal AI Usage Data & Token Consumption Insights 15:28 – Jonathan Wang on Agent Efficiency, Model Improvements & Flat API Calls 19:53 – Will AI Costs Continue to Drop Like Moore’s Law? 22:26 – Early Innings of Corporate AI Adoption & Productivity Gains 24:46 – Real-World Productivity Impact at VanEck & Virtual Employees 30:57 – Private Credit Opportunity: Lessons from the 2015 Third Avenue Blowup 33:37 – Why BDCs Are Structurally Superior for Private Credit 34:46 – Current BDC Valuations & Why the Fear Trade Is Overdone 37:49 – Alternative Asset Manager Stocks (Ares, Blue Owl) – Deep Corrections 40:24 – U.S. Fiscal Deficit Risks & Rising Defense Spending 41:59 – Why Gold Sold Off During the Iran Conflict (and Long-Term Bull Case) 43:04 – Oil Price Spike, Global Wealth Effects & Gold as a Hedge 46:26 – Commodities “Science Corner”: Futures Curves & Roll Yield Explained 52:56 – India Thesis Update: Still Cheap, Digital Transformation Underway 55:41 – Bitcoin Post-Halving Cycle & Why 2026 Is the Expected Weak Year 57:14 – Why the AI Compute Trend Remains Underappreciated 1:00:06 – U.S. Economy Outlook, Reshoring, and Freight/Industrial Strength _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter. We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such. We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance. All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video. Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/wp-content/uploads/2023/12/Thoughtful-Money-Disclosure-Document-12.6.23.pdf?pid=227 Thoughtful Money Agreement: https://thoughtfulmoney.com/wp-content/uploads/2024/11/Thoughtful-Money-Agreement-Agreement.docx?pid=227 IMPORTANT NOTE: There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance. Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC. Copyright © 2026 Thoughtful Money LLC. All rights reserved.