Otavio (Tavi) Costa(@TaviCosta):There is a fundamental difference between the 2011 peak in silver and what we are seeing today. Back then, rising prices were accompanied by a massive increase in production. Today, that supply response is completely missing. Don’t confuse a violent correction with the end of a cycle.

Otavio (Tavi) Costa

@TaviCosta

Founder & CEO of Azuria Capital LLC. Macro thinker, history student, value-oriented investor. Native of Sao Paulo, Brazil 🇧🇷 E-mail: tavi@azuriacapital.com

Joined June 2014

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Otavio (Tavi) Costa@TaviCosta

2026.10.31 21:25

There is a fundamental difference between the 2011 peak in silver and what we are seeing today. Back then, rising prices were accompanied by a massive increase in production. Today, that supply response is completely missing. Don’t confuse a violent correction with the end of a cycle.