Once a year, my company, IMA, hosts a dinner for our clients. Most of them live outside of Denver—and many outside the U.S.—so this event gives us a rare and meaningful chance to meet face-to-face, often for the first time, and really get to know each other.
A few years ago, we started recording these evenings so clients who couldn’t attend could still be part of the experience. Today, I’m excited to share the recording from our March 2025 dinner.
You can also explore past events here.
This video begins with opening remarks, followed by a Q&A covering topics like the U.S. dollar’s role as the global reserve currency, interest rate cuts, and IMA’s succession planning.
We also touch on tariffs’ effects on U.S. manufacturing jobs, stock-selling decisions, IMA’s use of AI, hedging against an S&P 500 decline, quantum computing’s future, and why I’ve never shorted a stock.
This was a wide-ranging Q&A session. We discussed
- Do we see investment opportunities in transportation infrastructure such as aggregates, cement, steel, etc.?
- Will the US dollar remain the global reserve currency? Are there other currencies you expect to increase in value?
- Are we looking at any Israeli companies, especially those dependent on Red Sea shipping?
- Do we think there’s a possibility that interest rates will drop? Is there a succession plan for IMA?
- Do we forsee manufacturing jobs coming back to the US due to Trump’s tariff plan?
- How do we make your decisions to sell stocks?
- How do we think about the Liberty media debts in regard to our QVC position?
- Have we looked at alternative energy as a possible investment?
- How is IMA integrating AI into the company?
- Are we going to position against the S&P 500 going down?
- Is it too early to get involved in quantam computing?
- Why have we never shorted a stock?
Your comments about Trump are disgusting and you’re a liar