Heads Up Poker Podcast

Tavi Costa, partner at Crescat Capital, joins “In It To Win It” to deliver a sweeping macroeconomic outlook that spotlights the growing opportunities in commodities and emerging markets. Born and raised in Brazil, Tavi shares how his family’s business collapse and a scholarship tennis journey to the U.S. shaped his disciplined, contrarian investment philosophy—rooted in long-term macro trends and value. Costa outlines his core thesis: the weakening U.S. dollar and suppressed interest rates are laying the foundation for a generational rotation into hard assets and non-U.S. equities. He identifies gold, silver, copper, and zinc as top beneficiaries of this shift, driven by global underinvestment in resource development and structural supply deficits. He highlights Brazil and Latin America as key destinations for capital, pointing to his own real estate investments as evidence of conviction. Key themes include Crescat’s leveraged buyout of Bolivia’s San Cristobal mine—now the world’s fourth-largest silver pro