Oil expert Rozencwajg on crude prices: 'The worst is yet to come'

Adam Rozencwajg, managing partner at Goehring and Rozencwajg, says the spike in diesel prices — rather than crude-oil prices — was the unexpected symptom of trouble coming from the Iran War, and that an oil shock can start with diesel and move to crude, so "We're in a little bit of a calm before the storm picks up again." Rozencwajg says that even if the war were to end tomorrow and the Strait of Hormuz re-opened, crude oil prices would be due for a spike, if only as a temporary condition to try to relieve diesel shortages. The good news for energy investors, however, is that there is "a huge bull market ahead" for energy stocks; Rozencwajg says "We're in the early innings of it" and that it has a long way to run, which should give investors confidence that they can ride out the volatility that is likely to come as the oil headlines play out.

Steve Baffico, executive vice president and head of listed products at Bluerock — managers of the Bluerock Private Real Estate Fund — discusses the private real estate market and how it is changing, due to concerns over interest rates, the growth of A.I. infrastructure and struggles in the life-sciences and biotech real estate businesses and more. He discusses how the fund continues to perform through a recent transition, a process which has pushed the fund's discount to more than 40 percent, and the steps the firm is taking to narrow the discount and complete the process of reshaping the way it invests.

Plus, Chuck discusses Elon Musk's recent pledge of one share of SpaceX stock to every child in America, and how and why billionaires are offering up shares in support of public programs, and whether these kinds of promises are real and meaningful or just the latest public-relations tool for the super-rich.