Bert Dohmen

Bert Dohmen is the founder and president of Dohmen Capital Research and the hedge fund advisory firm Dohmen Capital Management. He is a macro-driven market strategist with decades of experience calling major economic turning points. For resource investors, his relevance lies in his willingness to make specific, time-stamped calls on inflation, monetary policy, and hard-asset cycles.

His most notable call came in 2007, when he publicly predicted that 2008 would bring a severe global financial crisis — the worst since the 1930s. He has also been an early and vocal warner on inflation, having flagged what he termed "super inflation" ahead of the broad consensus. He is the author of Prelude to Meltdown, a book published before the 2008 crisis that outlined the systemic risks building in the financial system. He publishes the Wellington Letter and operates HedgeFolios, a platform providing hedge fund–style portfolio research.

Dohmen evaluates markets through a top-down, macroeconomic framework. He focuses on central bank policy, credit cycles, and liquidity flows — particularly how excess credit creation drives inflation and, in turn, demand for hard assets like gold. He has argued that the early stages of soaring inflation are beneficial for inflation hedges, making precious metals a core holding during transitional periods. For mining investors, this means tracking his macro calls as a potential timing indicator for precious metals exposure.

His current focus is on what he describes as a deepening structural crisis: ballooning private credit markets, rising sovereign debt, and geopolitical instability. While his longer-term forecasts are decidedly bearish — he has described a coming period potentially worse than the 1930s depression — he distinguishes between systemic risk and tradable market opportunities. Investors who follow Dohmen get a disciplined, macro-first perspective on when risk assets, including mining stocks, may face headwinds and when precious metals may offer protection.