Andrew Horowitz, host of The Disciplined Investor and DH Unplugged, stepped into the guest co-host chair for Episode 1908 of the No Agenda Show, titled 'Chivatican,' joining Adam Curry for a three-hour media deconstruction. The episode, released October 1, 2026, marks one of the most finance-forward installments in recent memory, with Horowitz applying a markets lens to the show's trademark narrative dissection. The pair, who have known each other for roughly 15 years and share a long history with the late John C. Dvorak, tackled tariffs, jobs numbers, artificial intelligence hype, and a hijacking mystery over Saudi airspace.
Horowitz and Curry unpacked the $15 billion Mesabi Metallics/SR steel plant deal in Iowa, dubbed 'Patriot Pellets,' and the Section 232 tariffs that enabled it. Horowitz dissected Commerce Secretary Howard Lutnick's Oval Office pitch alongside Iowa TV6 reporting that no permits have been filed and no major Lee County land has been purchased for the plant. He contrasted Cleveland-Cliffs' North American pellet dominance with Brazil's Vale, flagged the Indian ownership of SR Technologies, and connected the timing to the midterms. The segment highlighted the gap between political announcements and on-the-ground reality, a recurring theme in No Agenda's skeptical coverage.
The show also delved into economic data controversies. Kevin Hassett's shifting commentary on BLS jobs reports, PCE methodology changes, and ShadowStats founder John Williams were examined, raising questions about the reliability of official statistics. Scott Bessent's bond-buying 'blunder,' private credit refinancing walls, and commercial real estate losses rounded out the financial discussion. Horowitz's investing philosophy got its own set piece when he recounted a horseback ride in Costa Rica with his wife Jill. 'The horse doesn't want to fall off the mountain just as badly as you don't want to fall off the mountain. Hang on to the horse. It's the same thing with these markets,' he said, offering a memorable metaphor for navigating volatile markets.
On technology, Curry championed Meta's Muse assistant, predicted the collapse of traditional podcast apps, and recounted building a prototype 'while watching West Wing.' Trump's rebrand of AI as 'SI' (super intelligence) and Anthropic's reported $2 trillion IPO prospectus were also discussed. The episode touched on AOC, Bill Gates, Jensen Huang, Sam Altman's 'Dots' launch, Pope Leo's Chicago-accented AI remarks, and Pete Hegseth's Pentagon purge, all run through the deconstruction machine.
The FlyDubai cockpit stabbing incident and Netanyahu's pre-election messaging received intense scrutiny. Curry hammered the shifting official story on the flight to Tel Aviv, noting conflicting ABC, BBC, and Netanyahu accounts of whether the plane dropped from 34,000 to 16,000 feet in two or three minutes, whether a knife or crash axe was used, and the now-famous Israeli plumber who allegedly leveled the aircraft. The segment exemplified No Agenda's commitment to questioning official narratives.
Episode 1908 'Chivatican' is available now wherever podcasts are heard. For detailed notes and to listen, visit Episode 1908 of the No Agenda Show. The episode's depth comes from its specificity, offering listeners a unique blend of financial analysis and media criticism that challenges mainstream perspectives.
