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May 24, 2019 | ESG = Politically Correct Investing

Today’s fast-growing investment fad seems to be ESG investing. ESG stands for “environmental, social and governance,” the pillars of “sustainable” investing. Or so they say. To me, ESG is politically correct investing—and it’s going to cause a lot of well-meaning fools and their money to part ways. In my view, investing on any basis other […]

May 22, 2019 | “I’m Not a Gold Bug—You’re a Dollar Bug!”

I love the late great Richard Russell’s response when people called him a gold bug: “I’m not a gold bug—you’re a dollar bug!” I was lucky enough to meet him and see this line delivered with grace and humor. I’m reminded of it now because a very astute reader of mine just sent me a […]

May 15, 2019 | Putting Market Voting vs. Weighing Functions to Work for You

There’s an old Wall Street saying that in the short term, stock markets are voting machines and in the long term, they’re weighing machines. Experience shows this to be very true, extremely important, and almost completely ignored. By way of example, let’s look at the current Bitcoin rally. I recently tweeted that cryptos seem to […]

May 14, 2019 | Is It Time to Speculate on Oil?

Investors’ attention is so focused on the escalation of the US-China trade war, many seem to be missing the other escalation that could rock the world: the recent attacks on Saudi oil facilities. The sabotage attacks on four ships in the Strait of Hormuz last Sunday did get a lot of attention, and oil prices […]

May 10, 2019 | Trade War Heats Up—What to Do

The US increased tariffs from 10% to 25% on $200 billion worth of Chinese goods today. Trump has threatened to raise tariffs on more than $300 billion more. The Internet and airwaves are full of experts telling you what it means and financial fortunetellers predicting various outcomes. Truth is, nobody really knows what will happen—not even […]

May 9, 2019 | Mining for Gold Nuggets in Financial Statements

  A reader asked for tips on parsing the jargon in company financial statements to get at what we really need to know. Seems like a good idea. But first, I want to say that being able to get into workshop topics like this is one of the great benefits of going to conferences like […]

May 7, 2019 | Doesn’t It Matter That the US Is Broke and In Debt?

A reader asked about the national debt, the debt ceiling, and the potential for an economic crisis in the US if—or when—it can no longer pay its bills. US fiscal policy is a huge topic, on which many books have been written. Personally, I’m inclined to agree with the bearish views of folks like former Office […]

May 2, 2019 | What to Do When Good News Is Bad News

Markets dropped sharply in reaction to Jerome Powell’s comments yesterday on the Fed doing nothing. Oddly enough, there wasn’t much reaction to the Fed’s announcement itself. It was after Powell said in his press conference that, looking forward, the Fed didn’t see any reason to raise or lower rates that markets dropped. This is quite […]

April 30, 2019 | The Summer of 2019 Could Be the Opportunity of the Decade

I just read an article arguing against the conventional “sell in May and go away” Wall Street wisdom this year. The argument is centered on the non-appearance of the much-feared earnings recession this quarter. The major indices were widely expected to suffer as a result of lower earnings compared to a year ago, when Trump’s tax […]

April 29, 2019 | How I Came to Give Myself Permission to Get Rich

Many moons ago when I was a younger wolf, I worked in the non-profit sector. I wrote grant proposals and direct mail pieces to raise money for various pro-market organizations. It was rewarding to the soul. The problem was that it was quite non-profitable. But I felt empowered, doing my bit to fight for liberty […]

April 23, 2019 | WARNING: Increased Risk of Gold Correction Ahead

The headline above was the subject line of the free, weekly, no-spam email I sent out last Saturday. I am not claiming I knew precious metals would retreat as much as they have—so far—this week. But I do think it’s important to share what I wrote with those of you who missed it. Here’s what I […]

April 22, 2019 | Silver’s Day Is Coming—And You Won’t Want to Miss It

Silver bulls like to point out that silver prices are historically out of whack. As of last night’s close, you could buy 85.3 ounces of silver with one ounce of gold. Until recent years, the gold-silver ratio was in the range of 50–60:1, making silver look cheap and oversold. Adding insult to injury, the naturally […]

April 18, 2019 | How to Win 70% of the Time

Years ago I gave a talk on how essential discipline is to speculators. When I came off stage, I found legendary speculator Rick Rule in the wings. He told me that my talk should be required material for all speculators. So here it is… Readers of my past work know that I sometimes use idle […]

April 17, 2019 | China Beats on GDP—What This May Mean for Resource Investors

China’s much-anticipated official Q1 figures were released today, and they beat expectations. GDP growth for the first quarter of 2019 clocked in at 6.4%, beating analyst expectations of 6.3%. Industrial output increased 8.5% over March of last year. Retail sales increased 8.7% over last March. I take all such numbers with a large pinch of […]

April 16, 2019 | Does Uranium Have a Fertilizer Problem?

Readers have asked about reports that uranium extracted from phosphate fertilizer could impact the price of uranium. The thrust of these reports is actually that proposed changes in international standards could make it easier for countries without nuclear weapons to more easily get their hands on “under the radar” uranium. Such supplies could be used for […]

April 12, 2019 | Uranium: An Idea Whose Time Has Come Again?

I remember when former Greenpeace president Patrick Moore rocked the world by turning pro-nuclear energy in the mid-2000s. I was working for Casey Research at the time. Doug Casey was convinced uranium would go higher. Moore’s courageous decision to prioritize facts over fears was a boost to the narrative of the day. Doug was right, and uranium […]

April 10, 2019 | Ray Dalio and the Ethics of Capitalism

World-famous investor Ray Dalio is in the news, claiming that capitalism is failing and needs reform. Mainstream media loves it. It seems that Dalio is on every channel this week, talking about income inequality and the need to reform capitalism. One might think he’s getting ready to run for president. I’m happy to see that […]

April 9, 2019 | Why Don’t I Invest in Support Industries?

An astute reader asked me if I might consider investing in some other segments of the nuclear power industry. As bullish as I am on uranium this year, why not have a go at the companies that convert U3O8to UF6(a necessary step in turning the mine product into reactor fuel), for example? Or for that […]

April 4, 2019 | Correction: Platinum May Never Eat Palladium’s Lunch

A very polite—but very firm—industry insider wrote in to tell me I made several mistakes in my recent bearish article on platinum. After checking with independent sources, it does seem that I was misinformed. Diesel engines do tend to run hotter than gasoline engines. However, the catalytic converters with the platinum and palladium go on […]

April 2, 2019 | Is It Platinum’s Time to Shine?

Ever since platinum prices plunged well below gold prices in 2014, some analysts have argued that platinum is due for a rebound. This usually seemed based on a view that platinum is naturally more rare and therefore it should command a higher price than gold. I argued then, as I do now, that platinum is largely […]

March 29, 2019 | Palladium Bubble Pops—A Red Flag for Other Metals?

Last February, I wrote that palladium could be 2019’s Bitcoin bubble. All the talk about the Chinese buying more cars with palladium catalytic converters (pollution control devices) flew in the face of reports of declining car sales in China. And that’s not to mention the lightning-fast adoption of electric vehicles (EVs) in China. This week, […]

March 28, 2019 | Uranium Correction: Problem or Opportunity?

Uranium prices dropped sharply this week, putting in a new low for the year. As you can see in the chart below, this isn’t any kind of new low, and the overall trend since early 2017 remains upward.     Now, I’m not a technical analyst, but if I were, the series of higher lows […]

March 27, 2019 | A Key Development for Resource Speculators

The most important news of the day for resource speculators isn’t getting much attention. Fluctuations in the price of gold, Trump’s Fed nominee saying interest rates should be cut, and the global economic slowdown dominate the headlines. That’s understandable, but for us, the big driver is usually China. And China Beige Book just reported that China has […]

March 25, 2019 | Forget Mueller—The Real Bombshell Was the Yield Curve

The talking heads on financial media are busy dissecting the Barr report on the Mueller report. I get that lack of any smoking gun covered with Trump’s fingerprints is headline politics. But why ignore the yield curve inversion? I’m sure you don’t need me to tell you that this is a very big deal—but it’s […]

March 22, 2019 | Today Shows Exactly Why I’m So Bullish on Gold and Silver

This morning’s price action shows exactly why I’m more bullish on precious metals in 2019 than I have been for years. News of more global economic slowing was the apparent cause of all major US stock indices falling—and gold rising.     Whatever happens next, this is important. Consider that it wasn’t just stocks falling. […]

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