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November 19, 2019 | What We Can Learn from the Death of the Unicorn

I’ve been thinking a lot about the spectacular unicorn failures on Wall Street this year. The implosion of WeWork may be the final nail in the coffin, but the Uber and Lyft debacles seem more significant to me. I have to wonder if anyone at WeWork investor SoftBank lost their jobs over their multibillion-dollar due […]

November 8, 2019 | Uranium Deadline: Don’t Bet the Farm—But Don’t Miss Out

‘Twas the night before the NFWG report, when all through the White House, all manner of creatures were stirring…” … but honestly, most had other things on their minds. I’ve been traveling all week, but this is pressing, so here’s a quick update on Trump’s Nuclear Fuel Working Group (NFWG), which is following up on […]

October 30, 2019 | How Does a World Reserve Currency Recover from Crisis?

When people lose confidence in paper money, an irreversible slide ensues. That makes sense, since the paper actually is worthless. Legal tender laws can force people to use fiat currencies, but not to value them. So how does hyperinflation end? Badly, of course. But more specifically… When the Yugoslavian dinar went into hyperinflation in the […]

October 29, 2019 | My Version of the Barbell Strategy

“It’s better to risk 10% of your portfolio speculating on 100% gains than to risk 100% of your portfolio investing for 10% gains.” That’s what my friend Doug Casey always says. It’s another way of looking at the “barbell strategy” advocated by noted trader Nassim Taleb in his outstanding book, Skin in the Game. The idea […]

October 28, 2019 | X Marks the Spot—But It’s Knowing Where to Put It That Matters

A reader questioned me on the value of my services, and I thought my answer could be of interest and use to others. So… There’s a story of a repairman called in to fix a problem Henry Ford had with a big machine at his plant. Some versions of the story say it was a […]

October 25, 2019 | Latin Spring = Danger for Investors

Massive protests have erupted in Chile, Ecuador, and Bolivia. The potential for more in other Latin American countries has some folks calling it the Latin Spring. The causes of the outbreaks vary, but there’s a common thread and it spells danger for investors—and everyone.   Is It a Spring? The original “spring” uprising—the Prague Spring […]

October 23, 2019 | Big Money’s Warning

Longtime readers know I dislike making big, headline-grabbing predictions. It’s a racket. But sometimes, vitally important matters require us to look forward and think about what is likely to come to pass. The amount of negative-interest-rate bonds having exceeded $17 trillion and heading for the sky is one of those matters. Full disclosure: I’m not an economist, […]

October 22, 2019 | The Difference Between “When” and “If” Is the Difference Between Speculation and Gambling

Legendary speculator Rick Rule is famous for saying that the way to make money in the resource sector is to invest when we think we know the answer to a “when” question. The way to lose money is to gamble on questions that begin with “if.” A “when” question is one where we can objectively […]

October 16, 2019 | Tips for Developing the Discipline Needed to Be a Successful Speculator

When gold or uranium or whatever I’m speculating on at the moment corrects, two different things happen. Clients (subscribers) write in to share their excitement over the stocks they just bought or averaged down on. Other readers write in to share their frustration, fear, and impatience over Mr. Market’s stubborn refusal to do what he […]

October 15, 2019 | US Uranium Delay: Unwelcome, Unsurprising, and an Opportunity

Boy am I glad I warned readers not to count on Donald Trump’s Nuclear Fuel Working Group (NFWG) lighting a fire under uranium stocks today. Word is out that the group has been given a 30-day extension. Given the departure of John Bolton from the Administration, and hence the NFWG, the delay is no surprise. Some […]

October 14, 2019 | The Return of Dr. No—And Why That’s a Good Thing

In a recent edition of my free, no spam email digest, I commented on the almost religious fervor of the responses I get when I write something about uranium. Uranium bugs—or haters—seem much more emotional than gold and silver bugs… “Liar!” Responses that amount to this (though often less polite) aren’t particularly useful, but they do […]

October 10, 2019 | A Critical Moment for Uranium?

A slew of new reports on old news about Donald Trump’s Nuclear Fuel Working Group (NFWG) is hitting the wires today. That’s because the NFWG is supposed to report its recommendations by next Monday.     I haven’t seen anything of substance that’s new in these reports, but the reminder of the deadline is apparently […]

October 8, 2019 | Why and When to Sell

A reader wrote in to say that he owns way too many junior resource stocks. Many are deep in the red. But when he looks over the list, he remembers why he bought them and can’t bring himself to sell in the face of that potential. I understand. It hurts to realize a loss. It’s […]

October 3, 2019 | Gold Peaks: What Does the Past Tell Us About the Future?

I’m known for finding ways to profit under any market conditions, not for making a wild predictions about what will be. But as a speculator, I do have to make projections about future prices. So in January, I published a report making the case that 2019 would be the year gold would break out. I was right. […]

September 30, 2019 | Gold Correction: Putting My Money Where My Keyboard Is

People say, “Be careful what you wish for—you may get it.” I can’t say I wished for gold and silver to drop hard this week for no good reason, but that’s what just happened. I did, however, say that if we got such a correction, I’d see it as a buying opportunity. So I just […]

September 26, 2019 | Dr. Copper’s Warning

Industrial metals have generally had a bad year, with most prices ranging from sideways for lead to down significantly for aluminum, zinc, and copper. The more volatile iron price was up earlier in the year, fell hard in August, and remains slightly up year to date. Copper, sometimes called the “metal with a Ph.D. in […]

September 25, 2019 | Thorium: Great for the Future, Not so Great for Speculation

The prospect of a renewed nuclear renaissance I’ve written about is a welcome source of encouraging news. How ironic, if global warming fears result in a better world—powered by fission reactors. I doubt that abundant, cheap, clean energy would end war and strife, as some dreamers believe (people will always find things to fight about), but it […]

September 23, 2019 | Helium: The Next Big Thing, or Balloon Looking for a Pin?

Some months ago, a friend suggested that I look into the helium market. I couldn’t get too excited, but as a helium shortage is making headlines again, I think it would be useful to explain why. The basic story is that in 1925, the US government established a strategic helium reserve near Amarillo, Texas. This reached one billion […]

September 20, 2019 | Don’t Ignore Today’s Stock-Market Time Machine

Gold fell off a bit of a cliff Wednesday when the Fed cut rates. The rate cut was expected, but uncharacteristically, Powell managed to calm markets in his press conference. For some reason, the paper gold traders in New York decided to ignore the weaker dollar policy of the Fed and sell gold. This was […]

September 19, 2019 | Am I Wrong About Uranium?

The contrarian in me loves how hated uranium has become again. Even some longtime uranium bulls are throwing the towel in. I can see why, so it’s prudent to ask if I could be wrong in my outlook. And of course I could be; I’m a speculator, not a time traveller. That said, I’ve compared […]

September 17, 2019 | The Day Nothing Changed—And Everything Was Different

Nothing really changed when a series of drone attacks took out half of Saudi Arabia’s oil-processing capability last Saturday. Experts have been warning for years that “soft” targets like this infrastructure are extremely difficult to defend. And drones have been proliferating in our skies for years. It was inevitable that someone would put the two together. All […]

September 13, 2019 | Buy on Rumor, Sell on News—Then What?

You’ve probably heard the old Wall Street saying: “Buy on rumor, sell on news.” I’m sure I don’t need to tell anyone that it’s foolish to buy anything just because of some rumor. And yet, savvy speculators know that a strong story can run share prices up much higher than any reasonable valuation. That’s why […]

September 10, 2019 | Gold Sold Off Last Night—And I slept Well

Gold prices have been wobbling. Readers—I’m happy to say—have been writing in to ask what to buy. Yesterday, gold and silver were down sharply and I was able to buy my top silver pick for the price I wanted. When I alerted readers to this, several wrote back saying they’d beat me to the punch […]

September 7, 2019 | The US Dollar vs. Gold—Has Something Changed?

Gold is priced internationally in US dollars. So generally, when the USD rises, gold drops, and vice versa. But over the last year, gold and the USD seem to be rising together. That’s a strong indication of safe-haven demand driving money around the world into both gold and the USD. You can see both the […]

September 5, 2019 | Silver: Happening Now, But It’s Not Too Late

I’ve been reminding readers this year that in a major precious-metals bull market, silver usually lags gold, then goes screaming higher faster. I predicted the gold and silver breakout of 2019 in January, but ever since silver showed signs of getting going in July, I’ve been urging readers to load up on quality silver plays. I argued that though […]

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