Weekend Show – Mike Larson & Dave Erfle – 2026’s Big Setup: Volatility Ahead, Metals Roaring, and Why Silver Stocks Lag the Spike
This Weekend Show pairs a “big-tent” market roadmap with a boots-on-the-ground metals deep dive. Mike Larson previews what investors can expect at The MoneyShow Las Vegas (Feb 23–25) and the themes gaining traction in 2026 – from AI-adjacent winners to income plays in a choppy tape. Then Dave Erfle tackles the silver surge head-on, arguing this spike is structurally different (supply-driven, not purely speculative) while explaining the disconnect: why silver equities aren’t currently delivering the leverage many investors expected.
- Segment 1 & 2 – Mike Larson, editor-in-chief of MoneyShow, joins the KE Report to preview the upcoming MoneyShow Las Vegas conference and discuss its broad, generalist focus, key 2026 investment themes, and how investors can best navigate education, networking, and market volatility across asset classes including AI, metals, income strategies, and macro trends.
- Click here to find out about the upcoming MoneyShow conferences – https://www.moneyshow.com/
- Segment 3 & 4 – We’re joined by Dave Erfle, founder and editor of Junior Miner Junky, to discuss why silver’s explosive rally is fundamentally different from past spikes – driven by critical industrial demand, ongoing supply deficits, and global physical market dynamics – along with what any correction could mean for physical metal versus equities and where he’s finding opportunity across gold, silver stocks, and copper.
- Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter – https://www.juniorminerjunky.com/
If you enjoy the show, be sure to subscribe to our podcast feed (KER Podcast), YouTube channel, and follow us on X for more market commentary and company interviews. Don’t forget to subscribe and leave us a review!
For more market commentary & interview summaries, subscribe to our Substacks:
- The KE Report: https://kereport.substack.com/
- Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
Hi Thomas, believe it or not if we get a “CRASH” everything will go down including Gold and Silver, but they will hold their value, as they always do. I have studied The Great Depression of the 1930’s in depth and I believe our economies are in much worse shape now than they were in 1929. DT
There are many similarities to the 1930‘s (protectionism, nationalism, …)
How do you protect yourself against such a big crash?
Sell everything and hold only cash?
You would have missed a lot of the upside in PM stocks. And gold and silver just started their rally somewhere at the second half of last year. Most of the upside is probably not yet reflected in the earnings of the gold and silver producers.
Hi Thomas, you have to have a diversified portfolio and that doesn’t mean being diversified with stocks, you must stay out of debt, have some physical metal, some real estate, some collectibles, some cash, as well as some stocks. But if you are just starting out I think the best plan is to have some physical metal for insurance. Stocks are way too risky for most of the public especially with the debt loads that all Western Governments are holding. Something we didn’t see in the 1930’s that makes this time much more dangerous for a collapse in the stock market. DT
There are many similarities to the 1930‘s (protectionism, nationalism, …)
How do you protect yourself against such a big crash?
Sell everything and hold only cash?
You would have missed a lot of the upside in PM stocks. And gold and silver just started their rally somewhere at the second half of last year. Most of the upside is probably not yet reflected in the earnings of the gold and silver producers.
Maybe a mix of cash and staying invested is the right think?
At least the options expired yesterday. They will have to come up with something else next week. Maybe a soybean crisis….
It will take just one BIG BOY BANK to step forward and be the 1st early adopter in silver miners and Voila! A 2020 Mar- Sept 153% gain Ag event follows
Came across this post
https://x.com/graddhybpc/status/2012469377686192267/photo/1
Opportunities In Growth-Oriented Silver Producers – Part 14
Excelsior Prosperity w/ Shad Marquitz – (01/17/2026)
Charts included for Silver, (SIL), Avino Silver and Gold (TSX:ASM) (NYSE American:ASM), Santacruz Silver (TSXV: SCZ) (OTCQB: SCZMF), Americas Gold & Silver (TSX: USA)(NYSE American: USAS), Sierra Madre Gold and Silver (TSXV: SM) (OTCQX: SMDRF), Guanajuato Silver (TSXV:GSVR)(OTCQX:GSVRF), Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR), and Coeur Mining, Inc. (NYSE: CDE)
https://excelsiorprosperity.substack.com/p/opportunities-in-growth-oriented-f50
+39% week for Defiance Silver as it broke through two big forks on huge volume, record volume, in fact…
https://schrts.co/SjmFTNfV
Gold around $4600 at the moment
It only needs a black swan event and gold goes $10.000+
Taking Greenland with military forces would be such an event
I am not hoping for Gold at $10.000 or $20.000 very soon, because it would be not a nice world to live in
On CBS yesterday there was a discussion about what a Greenland invasion would mean for Canada. Always thought that Canada is one of the safest places on Earth. Seems that this not the case anymore.
https://www.cbc.ca/player/play/video/9.7048891
Hope that Gold stays around $5000-$6000 in 2026 and we don‘t see a black swan event. Know that everybody here hopes for higher Gold prices. But a World with $20.000 Gold is nothing anybody should wish for.