Stansberry Investor Hour (Stansberry Research)

There's a lot of uncertainty in the crypto markets today...

 Over the last couple months, we've received a big increase in crypto-related questions from Investor Hour listeners... Questions like:

Could quantum computing hack the Bitcoin system, rendering it useless?

 Is government regulation coming soon?

And out of the literally thousands of cryptos out there... how do you choose the right one?

To help answer these questions, Dan invites crypto expert, Eric Wade, back onto the show 

Eric is an early internet entrepreneur, angel investor, screenwriter, and editor of the Crypto Capital newsletter here at Stansberry Research.

 Eric started mining Bitcoin and Ethereum long before 99% of folks had ever even heard the term "cryptocurrencies." His Crypto Capital newsletter has had dozens of 100%+ winners and even a handful of 1,000%+ winners. He knows more about the space than just about anyone on the planet.

During their conversation Dan leaves no stone unturned, asking Eric everything you've ever wondered about the crypto space.

Eric also shares a new project he's working on recently – a fascinating way to capture the full upside of the crypto market, but with less volatility and more consistent returns.

If you've watched the incredible gains in the crypto markets, but are still waiting on the sidelines, this is a conversation you won't want to miss. 

P.S. If you're interested in learning more about Eric's new project, he made a short video explaining everything you need to know. Make sure you visit www.cryptocash2021.com while it's still online.

The biggest growth story of 2023 has been three years in the making. And today's Stansberry Investor Hour guest is at the forefront of it all...

Commodity Supercycles editor Brian Tycangco is Stansberry Research's resident expert in the energy and natural resources space.

After being shuttered behind strict COVID-19 policies for the past three years, China is finally open for business with the global markets again. Its residents – with trillions of dollars socked away during those long years – are itching to travel and spend. And the country's high-value manufacturing sites are set to lead a global bull market in electric vehicles.

At the same time, Brian says we're seeing an increased U.S. manufacturing presence in labor markets like India, Indonesia, and Thailand – which means incredible investing opportunities across Southeast Asia.

Also on today's podcast, Brian urges investors to not be so easily scared off by sensational headlines from Western media... like the furor over Chinese President Xi Jinping's power move to extend his term of leadership or the concerns over the wealthiest citizens leaving the country – and taking their money with them.

Thanks to his residency in Asia (the Philippines, to be exact), Brian has gotten a firsthand look at the sentiment. He says, "Everything isn't as bad as it seems in China," and that most Chinese have a "back-to-business mentality."

Lastly, when it comes to adding this market to your portfolio, he says you still have to be practical...

You don't go all-in on China, but you don't also not have exposure to a place like this. There's always room for China in anyone's portfolio [...] It'd be crazy not to have exposure just because of geopolitics.

As it stands today, cannabis is still illegal on a federal level.

But that could be changing soon...

This week, Dan has a conversation with one of the most respected healthcare analysts on Wall Street, Tom Carroll. Tom was previously ranked by Fortune Magazine as the #1 U.S. Healthcare analyst.

Tom knows the healthcare industry landscape as well as anyone. In fact, that's what led him to start his newsletter with Stansberry Research, Cannabis Capitalist.

According to Tom, when it comes to federal legalization nationwide, we're looking at months, not years.

And if you position yourself in the proper stocks correctly before legalization becomes a reality, you could stand to make enormous gains.

Tom even shares the name and ticker symbol of one of his favorite cannabis stocks he's recommending to his readers today

This week, we're honored to bring you the inspiring tale of Gautam Baid...

When Gautam first immigrated from India to the U.S. in 2015, he made ends meet by working a grueling graveyard shift as a hotel clerk. The nights were slow and long and monotonous. So Gautam passed the time by investing in himself. He voraciously read every finance and investment book he could get his hands on. As he tells Dan...

Even though it was a big challenge for me intellectually, physically, culturally, and emotionally, today, in hindsight, I highly value those days of my life because for the first time... I finally got some time for myself to read and learn...

This was the phase in my life during which I was about to realize the power of compounding knowledge.

Gautam used this knowledge to build an "intellectual foundation in investing." And in just a few years, he propelled himself from minimum-wage night shifts to a CFA charterholder, an internationally bestselling author, a feature in Morningstar Research's Learn From the Masters series, and the founder of his own investment firm, Stellar Wealth Partners India Fund. 

In this week's episode of the Stansberry Investor Hour, Gautam and Dan discuss his unique definition of value investing, his No. 1 strategy that works across different market cycles and macroeconomic environments, the one time he received praise directly from the Oracle of Omaha himself, and the fundamental power of investing in yourself...

The body is limited in ways that the mind is not. By the time most people are 40 years old, their bodies begin to deteriorate. But there is no limit to the amount of growth and development that the mind can sustain. Reading keeps our minds alive and growing... Books are truly life-changing.

Dan and Corey delve into the Personal Consumption Expenditures (PCE) index and its latest release from last week. They discuss the significance of this development and how it could affect the Federal Reserve's decision to raise interest rates.

The two also point out that recent behavior in the bond market suggests that the end of the Federal Reserve's rate-hike plans may be near. While this move may contribute to future CPI and PCE numbers, Dan and Corey are not entirely convinced that it will solve the other issues in the economy.

Then, Dan introduces Michael Harris, a renowned quantitative trader who is credited with developing the first program to identify anomalies in price action and generate automatic code for popular platforms. Michael is also a prolific author, having written four books on price recognition and his market analysis blog, Price Action Lab.

Michael explains his approach to trading and notes that while there are no barriers to entry in trading, the biggest challenge is maintaining discipline and effectively managing risk.

Michael goes on to express his surprise at the inability of most active managers to outperform the market and makes the case that as long as the US dollar remains the world's reserve currency, the US will continue to dominate in the technology sector.

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On this week's Stansberry Investor Hour, Dan and Corey are joined by frequent guest Vitaliy Katsenelson. He's the CEO and chief investment officer at portfolio-management company Investment Management Associates, or IMA. In his fourth appearance on the Investor Hour podcast, Vitaliy returns to discuss his approach to being a constraint investor and discovering undervalued companies for all his clients.

But first, Dan and Corey talk about the recent Federal Reserve meeting, the implications of the central bank's words and actions, and where they think the Fed will go from here. Dan and Corey both believe that in the near term, the market is telling us that we're coming to the end of the rate-hike cycle but "people just aren't buying it" yet. Since the stock market has been doing well these past couple of weeks, Dan thinks the Fed probably won't start cutting rates anytime soon. And because the unemployment rate is still near a record low, Dan and Corey argue that it's the only logical place to look when making a case for rate cuts.

Vitaliy then joins the conversation to share the origin of his vacation-style conference, VALUEx Vail... the screening process for attendees... and what Dan should expect while attending this week in Vail, Colorado. Afterward, they discuss the importance of constraints in life and how that relates to investing. Dan says...

"People are really creative when they are backed into a corner and they have a lot of constraints on them."

Watch Here

In our last podcast of 2019, Dan Ferris quickly recaps what a year it’s been from a 27% gain for the stock market to $12 trillion negative interest-yielding bonds in the world, to the third-ever impeachment of a U.S. President. Listen now!

We're now in a bear market... But today's Stansberry Investor Hour episode won't focus on that.

Instead, Dan has a unique guest whose rousing words will be a respite from the recent market carnage. 

Vitaliy Katsenelson is the CEO of value-investing firm Investment Management Associates. He's the author of two books and an award-winning writer featured in publications like the Financial Times and Barron's. However, Vitaliy describes himself as a "student of life." And he has just released his third book, called Soul in the Game: The Art of a Meaningful Life.

As a classical-music lover, Vitaliy had a revelation when writing about the travails faced by some of his favorite composers during their own creative processes – from being compared with a former great to pioneering a piece that broke the rules. It's about learning how to push past the anxiety and forge your own path in life and investing...

In any profession, there's always going to be somebody who's considered to be the "greatest" whatever... It's so easy for us to just copy Warren Buffett. Instead, what we should be doing is we should be looking at how Warren Buffett is thinking. Also, we should not be afraid to think on our own...

You can look at the way Buffett invests, and you can actually build your own path.

The learning process can be complicated. But as Dan chimes in, "Things worth doing take time." He and Vitaliy also talk about the importance of repetition – whether it's rereading Nassim Taleb's book to unpeel its complicated layers or watching Pulp Fiction on repeat to understand the hype.

In this episode, Vitaliy also shares concepts from Soul in the Game, such as striking the right balance between art and craft in life. And he gives what might be the shortest answer ever (just two words!) to Dan's "Final Question."

On this week’s podcast, Extreme Value Editor Dan Ferris unpacks share repurchases and investing legend and business genius Henry Singleton who put it on the map. Dan shares the two things Singleton did to secure his reputation as a bona fide business genius. Dan also chats about Uber losing its license to operate in London (again), the biggest luxury goods company acquisition of all time, and the shady side of discount brokerage giant Schwab’s acquisition of its rival, TD Ameritrade. Listen now!

When so many sectors are reaching new highs, where is the best place to put your money?

This week, Dan brings in entrepreneur Michael Covel, to help answer that tough question.

Mike is the author of five books, including an international bestseller, Trend Following: Learn to Make Millions in Up or Down Markets, and The Complete Turtle Trader...

He also created www.TrendFollowing.com where his consistent market-beating strategy has begun to spread, as he now services clients in 70 different countries.

Mike is very active on Twitter, publishes his blog, and records his podcast weekly.

And today, Mike stopped by so Dan could get his thoughts on some popular trends in the market.

Tech stocks, value stocks, cryptos...

Dan gets Mike's thoughts on where these trends are moving in the short term.

But perhaps, even more importantly, the two discuss how to be cautious when so many sectors are making new highs...

And how to make a specific plan to preserve your wealth in the event of a downturn.

 As Mike says, you should ask yourself, "Are you okay with losing up to 50% of your net worth?"

On this week's episode of the Stansberry Investor Hour, Dan invites "one of his favorite people in the entire investing universe" back onto the show.

He's the author of several must-read investing books, including 100 Baggers: Stocks that Return 100-to-1 and How to Find Them.

And his most recent book, How Do You Know?: A Guide to Clear Thinking About Wall Street, Investing, & Life, won the 2019 S.I. Hayakawa Book Prize, a prestigious honor awarded by the Institute of General Semantics.

 Chris Mayer joins the show to talk about some of the highest-upside stocks you'll find anywhere in the stock market.

During their conversation, Chris gives Dan a full run-down of what he looks for to find stocks with the potential to reach 100x returns.

 That may sound like an outrageous quest with a wildly improbable chance of success... but when Chris studied hundreds of 100-baggers of the past, he found that several definitive patterns emerged...

 He explains the key characteristics of these massive winners, and why you don't need an M.B.A. or degree in advanced finance to find these stocks...

 Chris even shares the name and ticker symbol of a handful of lesser-known stocks that he loves right now... stocks in high-growth industries, with genius business models, including one he calls "the Berkshire of software companies."

 It's extremely rare an Investor Hour guest delivers so many names of stocks with so much upside potential...

So, make sure you have a pen and paper handy to jot down the name of some of these companies and their ticker symbols.

If you're looking for higher gains to help boost your portfolio, this is a conversation you won't want to miss.

Listen to Dan's conversation with Chris and much more on this week's episode.

On this week's Stansberry Investor Hour, Dan and Corey are joined by renowned economist Jim Rickards, who details his illustrious career, the development of the BRICS currency, and its potential ramifications for the global monetary system. But first, Dan and Corey kick off the podcast by discussing store closures, Amazon's monopoly allegations, and commercial real estate's decline. (00:41)

Next, Jim joins the conversation to share some of what he has learned during his storied career, specifically from being the general counsel on a hedge fund's $3.6 billion rescue deal. He also explains why he grew dissatisfied with risk management and how he became one of the first in finance to use "complexity theory." (20:06)

Dan then steers the conversation to the BRICS initiative – i.e., the five countries' goal to create an alternative currency that will challenge the dominance of the U.S. dollar. Jim explains the origins of BRICS, highlighting how they have created financial institutions similar to the World Bank and the International Monetary Fund. (33:31)

Jim stresses the significance of the BRICS currency, as it would facilitate trade among member nations without the need to rely on the U.S. dollar. However, Jim emphasizes that a BRICS currency should not be interpreted as the end of the U.S. dollar's reign. Rather, it would be a formidable competitor in the global currency arena. (41:41)

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A little-known family investment office made big news this week... 

Archegos Capital Management's risky leveraged bets on ViacomCBS Inc. and Discovery Inc. set off a wave of forced liquidations at a number of Wall Street Banks.

Estimates show Bill Hwang, the man behind Archegos, levered his positions as much as 5X and so far has triggered the liquidations of positions approaching $30 billion in value.

Dan takes a deep look at this story of greed and hubris before leaving listeners with one crystal clear takeaway.

Then Dan invites Tucker Walsh onto the show for a conversation about one of the hottest sectors of the market over the past year – small cap growth stocks.

Tucker is head of the Small Company Growth Team and lead Portfolio Manager at Polen Capital's U.S. Small Company Growth strategy. Prior to joining Polen Capital Tucker spent 10 years as CEO at Copper Rock Capital Partners and 9 years as Managing Director and Head of Small Cap Growth Team at State Street Research.

Tucker and his team look to invest in fast-growing, disruptive businesses that use technology to compete in the digital age.

But he stresses that profitability is important, and discipline is critical when you're investing in this space. Thoroughly researching and investigating each company and objectively looking at both best and worst case scenarios without getting attached is key.

During their conversation, Tucker shares the name of a few stocks he thinks could have massive potential in the coming years and are great buys right now.

Then on the mailbag, listener Peter W. writes in explaining why he was not happy with Dan's interview last week... He argues Dan and Per left out some pretty important details during the conversation about regulations.

Dan listens to Peter's side and gives his rebuttal to this question and many more on this week's episode.

This week, Dan welcomes a guest who he describes as "my style of investor"... Stansberry Venture Value editor Bryan Beach.

In his newsletter, Bryan hunts for gems in the beaten-down, hated microcap sector of the market. And no one does it better than Bryan... Thanks to years of creating and auditing financial reports for the "Big Four" and software companies, he has honed his talent for uncovering opportunities within the dense terrain of Securities and Exchange Commission ("SEC") filings.

Dan and Bryan delve into a conversation about special purpose acquisition companies ("SPACs") – a topic Bryan has been covering well before the 2021 bubble popped. And he has dug deep into the "SPAC scrap heap" to uncover a few diamonds in the rough, naming a few businesses on his radar, too.

Bryan also discusses another overvalued group of stocks that's a favorite of his – Software as a Service. Then, he scrutinizes the housing market, and Dan shares his "macro" point of view on the matter.

 Finally, Bryan urges listeners to keep an open mind when investing... and to not readily dismiss the speculative side of the market...

 "I encourage our readers to be thinking about all parts of their port. There's a time to go deep in microcaps and there's a time to avoid them altogether. And everyone's situation is a little bit different. That's what I think is important...

 Pull up and look down at your portfolio. Get out of the weeds and look down at your whole portfolio... There's some part of the market that you haven't thought about in a while that you probably should think about again."

Today's Stansberry Investor Hour guest is the man behind a theory that Dan says "scares the crap out of me when I think of foreign markets"...

We're thrilled to have Brent Johnson, the creator of the famous "dollar milkshake theory," on this week's episode.

A seasoned Wall Street veteran with decades of experience in finance and money management, Brent is currently the CEO of Puerto Rico-based Santiago Capital, a wealth management firm focusing on macroeconomic trends. 

Brent says most folks who have read or heard about his dollar milkshake theory think it's just about the U.S. dollar going higher. But he says there's more to this narrative... He explains how the Federal Reserve's switch to quantitative tightening is like a straw sucking up liquidity from markets worldwide – strengthening the dollar. And it's a story that he says is playing out right now, with a soaring greenback and other currencies in a tailspin...

After the global financial crisis, governments and monetary authorities around the world were forced to provide incredible amounts of liquidity... They created this big pool of liquidity, and they kept doubling down on it and doubling down on it...

The world mixed this big milkshake of liquidity and capital that needs to go somewhere. But as we get further into this, it's going to cause a global sovereign debt crisis because the debts have just gotten too big. A lot of that capital is going to flow into the U.S. dollar – or U.S. dollar assets – and deprive that liquidity to the rest of the world.

As the dollar gets stronger, that attracts more capital and it also puts more pressure on the rest of the world – which makes the U.S. even look more attractive on a relative basis and perpetuates more capital flows. The U.S. dollar is going to "drink the world's milkshake."

 With another clever analogy, Brent also explains just how much power the buck lends to America. There's a "rigged" poker game playing out where the U.S. has the upper hand – and it has the "biggest stack at the table" with its currency. If any of the other countries "wins a big hand and tries to leave," Uncle Sam's "guards" at the door – or the dollar's privilege as the world's reserve currency – are ready to rob them of their profits. However, he says that the greenback could eventually plummet and end up in the same trouble that other currencies are undergoing... ultimately leaving gold as the "last man standing" at the table.

 Brent also shares which of his favorite movies served as the inspiration for his theory. And his takeaway for surviving this challenging economic environment should resonate with longtime Investor Hour listeners... It's all about preparing for even the most unthinkable outcomes and building a well-diversified portfolio – or, as Dan always says, "Prepare, don't predict." And this time, Brent's cinematic muse is Lawrence of Arabia... 

Be prepared. Nothing is certain. "Nothing is written." Any of these ideas that you have that you think are absolutely foolproof, I would throw them in the trash can. Just open your eyes. Be ready for anything.

Is Bitcoin going to continue to climb, or has it already reached its peak? Dan reflects on the reflexivity of some of these gangbuster stocks. He also shares his must-read pick for financial history books, and not just for great topics of conversation at parties. Then, Scott Helfstein, executive director of Thematic Investing at ProShares, joins Dan to talk about the ever-evolving trends of ETFs. While Thematic Investing seems to have become a new buzz word, Scott argues that the term originated inside ETF trading and Thematic is just the next evolution. Scott also breaks down key sectors that he thinks were transformed by the pandemic in 2020. And finally, on the mailbag this week, Dan answers additional questions about Bitcoin and confronts a staggering accusation of not being humble. Listen to their conversation and much more on this week’s episode.

Stansberry Venture Technology editor Dave Lashmet returns to the show. He's our go-to for anything and everything related to emerging technologies. 

Whether it's the ongoing Russia-Ukraine war... more nuclear threats from North Korea... or the Chinese spy balloon fiasco... geopolitics has already become 2023's overarching theme. It's also why Dave is bullish on one corner of the market in particular...

"The simple thesis is that we don't know what 2023 will be like for investors – if it'll be a bear, a bull, or a sideways market. But what we do know is that the best way to play defense in 2023 is going to be to buy defense stocks."

Dave also shares one company's stock that is poised to soar thanks to its groundbreaking new stealth technology. And just like other defense stocks on Dave's radar, it has a "very, very, very long [tail]" and "monopolies [on technologies]." Plus, Dave also details exactly what he looks for when screening military tech stocks, along with his "secret decoder ring" for choosing pharmaceutical companies to invest in.

If anyone can make Dan exclaim, "If you don't get the hell away from your microphone, I'm going to keep you here all day," it's today's Stansberry Investor Hour guest: geopolitical strategist and New York Times bestselling author Peter Zeihan.

But first, Dan and his co-host Corey McLaughlin kick off the show by dissecting the conflicting – and confusing – news headlines on the direction of stocks and housing into 2023. The duo also evaluates ARK Investment Management founder Cathie Wood's latest Twitter ramblings (and why she sounds like a certain founder of a certain defunct cryptocurrency exchange).

Circling back to today's guest, Peter is also the founder of his own firm, Zeihan on Geopolitics, where he provides his expert analysis to clients that include Fortune 500 companies, trade associations, policymakers, and government agencies of all levels. His first three books – The Absent Superpower, The Accidental Superpower, and Disunited Nations – have been recommended by U.S. Senator Mitt Romney, political scientist Ian Bremmer, and CNN anchor Fareed Zakaria. His fourth book, The End of the World Is Just the Beginning: Mapping the Collapse of Globalization, was published in June 2022 and is a New York Times bestseller.

And in this week's episode, he and Dan start by diving into the topic of deglobalization. Peter says the pace of deglobalization has accelerated since the start of the current decade – fueled by declining birth rates and an aging population. Additional kindling has come in the form of the COVID-19 pandemic, Chinese President Xi Jinping's narcissistic "cult of personality," and the Russia-Ukraine war. Global economies are in for some grim times... And as Peter puts it, "We are looking at the end of the world that we understand – probably in the next 36 months."

Wayne founded the investment advisory firm in 2011. Throughout his 25-year career, he has developed and refined his quantitative-trading methods, risk, and portfolio-management processes. A self-proclaimed "quant trader," Wayne uses advanced mathematics to help identify moneymaking opportunities in both good times and bad.

So in today's unforgiving market environment, he's a valuable guide for novice and veteran investors alike.

When asked to define himself as an investor, Wayne emphasizes how investing should be thought of as "trading your personality." You should invest in a way that aligns with how you see and understand the world...

What's funny to me is that people get really... rigorous about their view. If somebody, for example, is not very mathematical and they deeply believe in the fundamentals – understanding the company and talking to management and the whole other side of the world of investing – then I've seen, in that framework, them looking down on the quantitative side... like the two worlds have to be bifurcated...

Everybody's entitled to be who they are and trade that way. You're going to do better being yourself... Why do you have to speak or look badly at the way other people choose to express their personality in the markets?

Dan and Wayne dig deep into "familiar market signals," including how to best utilize them for your investing style. They also discuss the importance and influence of market bubbles, the pressures of news headlines on investing, and the need to explore and remain curious as a modern-day investor.

Extreme Value Editor Dan Ferris discusses the “very curious undertaking” of Tesla’s latest reveal. He’s joined by author Nomi Prins, who talks about her new book, “How Central Bankers Rigged the World.”

In this week’s podcast, Extreme Value Editor Dan Ferris shares where Apple could go from its $1.4 trillion market cap. Dan also reviews some of the best answers to his recent question of, “What is the most valuable asset in the world right now?” Our guest, and friend of the pod, Meb Faber stops by to share his insight on trend-following, and why investors focus almost exclusively on the U.S. at their own peril. Listen now!

In this week’s podcast, Extreme Value Editor Dan Ferris discusses the schizophrenic market behavior… and how to invest for negative interest rates. Our guest, Tobias Carlisle of Acquirers Funds chats about his extremely lucrative value investing practices, and how it comes down to largely one metric.

On this week's Stansberry Investor Hour, Dan and Corey welcome Brent Cook back to the
show. Brent is an economic geologist, as well as the founder and senior adviser of newsletter
company Exploration Insights. With more than 30 years of experience in property economics
and geology evaluations – spanning 60-plus countries – Brent has seen it all. He is one of the
most credible, successful, and knowledgeable mining-stock investors in the world. If you
invest in mining stocks, this episode is an absolute must-listen experience.

Brent kicks off the show by discussing what's happening at Yellowstone and what he learned 
from attending Rick Rule's mining conference. Brent warns investors to beware of mining
and exploration companies that are picking up old, "dead" projects and redrilling holes,
purely to bump up their share price and raise capital. After, Brent details a bit about his
career history and how he ended up in geology. (0:43)

Next, Brent discusses what investors should look for when trying to find a mining company 
worth buying. This includes the narrative of the broader economy, the risk profile, and
knowing what kinds of results you want to see from the company in terms of drill results. As
he explains, folks should seek high-margin companies with good management teams and
with deposits in friendly jurisdictions. He lists off several regions and countries that he
believes look promising today, plus some complications he has faced in the past. (19:21)

Finally, Brent names a copper-mining company that he's interested in today. It has water 
rights, no environmental liabilities, and a project that looks auspicious. He also shares a
gold-mining company he likes that's developing a very high-grade deposit in Australia. Brent
then explains the difference between mining and extracting gold and copper, and he makes
a bullish case for the red metal. (34:02)

Hugh founded the now-defunct Eclectica Asset Management in 2005. He rose to fame as the "Scottish hedge-fund king" when his fund returned 30%-plus during the throes of the financial crisis. He's also well-known for his outspoken remarks and contrarian views. One time, he even duked it out with a Nobel Prize-winning economist on television, asking, "Um, hello? Can I tell you about the real world?"

 These days, Hugh entertains a wide audience with his wit and energetic market commentary in his podcast, The Acid Capitalist.

Today's conversation begins with a bang, as Dan and Hugh tackle one of the biggest market headlines: the stock sell-off. Shares of "FAANG" giants like Netflix, Amazon, and Apple are tanking... And it's hard to see these behemoths – which were once among the best-performing tech companies in the world – as "risk free" businesses anymore. Instead, they could herald a recession. So, what does Hugh have to say on the matter?

It's going to be really long, but it's going to be entertaining. Wear comfortable clothing. 

He and Dan chat about several other topics, including inflation's grim march, Bill Hwang's multibillion-dollar fraud indictment, the "malevolent shadow of the Federal Reserve" behind high prices in oil and mining industries, and bitcoin as a risk-on versus risk-off asset.

No one is safe from Hugh's wisecracks – not even the ultrawealthy. In addition to financial topics, he shares his thoughts on Elon Musk's latest follies, the real reason Bill Gates and Jeff Bezos vacationed in St. Barts, and what he thinks of Johnny Depp's biggest purchase

In this week’s Investor Hour Podcast, Extreme Value Editor Dan Ferris discusses three different land mines for investors… Elon Musk, Beyond Meat’s latest bounce, and a looming reckoning in the bond market.

Our special guest, Marty Fridson shares a dire warning about the next shoe to drop in the bond market.

On this week's Stansberry Investor Hour, Dan and Corey are joined by fellow Stansberry Research analysts John Doody and Garrett Goggin. John, an ex-economics professor, started Gold Stock Analyst (GSA) in 1994 and even popularized the metric "market cap per ounce." Meanwhile, Garrett is a chartered financial analyst and certified market technician who started his career on the floor of the New York Stock Exchange before ultimately joining GSA in 2010. Dan and Corey start off by talking about how economists have continued to call for a recession in the coming three months... for the past nine months. With consumer spending growing, gross domestic product ("GDP") rising, and the housing market looking better, the two discuss the possibility that we're already in a recession... and question whether we need to reevaluate the criteria for a recession. Dan notes that despite two consecutive quarters of negative GDP – the textbook definition of a recession – an official recession has still not been called. John and Garrett then join the conversation to discuss the recent run on banks. Garrett notes that the federal-funds rate is too high. With the economy slowing down, he says that the Federal Reserve will have to start cutting rates soon. Plus, if the government raises the debt ceiling, the Fed's balance sheet will continue higher. This will be a good thing for gold. As Garrett explains... A banker's best friend is a shareholder's worst enemy. The conversation then shifts to John's gold stock portfolio. He mentions that he only looks for companies that have already completed a feasibility study or are already in the production stage. John points out that the gold companies in his portfolio are all at different stages in the process. He also warns that there could be a two- to three-year period after the feasibility study where nothing exciting happens to the stock. Adding to that, Garrett emphasizes that when looking at gold companies, it's imperative to analyze how the company is being managed. That way, you can make sure it's generating good shareholder value. Lastly, Garrett and John argue that royalty companies are structured to get lucky... by locking in costs. The companies do this so that as the price of gold rises, they can continue expanding. As long as one of its 100 mines does well, a royalty company will thrive. Royalty stocks certainly have their benefits in comparison with mining stocks. But as John and Garrett discuss, mining stocks are also extremely leveraged.

Dan opens up this week's episode discussing the tragic death of George Floyd and the riots and protests that have erupted across the nation as a result.

Dan discusses the factors that make this situation feel different and the implications it could have on the market's recovery. He also shares how this could have huge potential investmenet implications for investors down the road.

Then, Dan bring special guest, Jesse Felder, onto the podcast for this week's interview. Jesse started his career at Bear Stearns & Co. and has professionally managed money for over 20 years.  Since moving to Bend, OR and founding The Felder Report, Jesse's writing and research have been featured in major publications and websites such as Barron's, The Wall Street Journal, Yahoo Finance, Business Insider, Real Vision, and more.

During their conversation, Jesse shares his insights with Dan into where he thinks the market is headed. He also shares the name of a really undervalued stock that he's been trading lately... Jesse says this company has no debt, over $1 billion in cash reserves, and is trading way below its liquidation value.

Then Dan answers questions from listeners during this week's Mailbag. Why is it that those who claim fiat currency is collapsing want us to buy gold from them using US dollars? Wouldn't they want gold over dollars? What would a long deflationary cycle do to the price of real estate, gold and Bitcoin?

On this week's episode of the Stansberry Investor Hour, Dan fills in listeners about Warren Buffett's annual Berkshire Hathaway Shareholder's Meeting. Buffett discusses some missteps Berkshire has taken in recent years and gives his outlook for the future.

Then, Dan brings special guest, Bill Browder, onto the podcast for this week's interview. Bill is the founder and CEO at Hermitage Capital Management, which was at one time the investment advisor to the largest foreign investment fund in Russia.

Browder saw corruption in Russia and exposed it. Because of this he was refused entry to Russia and declared a threat to Russian national security.

During Bill's fight for justice, his lawyer Sergei Magnitsky helped him testify against crooked Russian police officers. Sergei was later arrested, tortured, and eventually murdered by the Russian government.

Today, Bill works as a political activist working with governments in nations all over the world fighting kleptocracy in an effort to bring the men who killed Sergei Magnitsky to justice.

On this week's episode of the Stansberry Investor Hour, Dan invites an incredibly special guest onto the show...

He's a man who's launched over 1,000 new products, acquired dozens of businesses, and employed thousands of people...

In a way, he's largely responsible for helping Dan get to where he is today... 

His biggest claim to fame is founding Agora Financial, now the largest independent research network on the planet... 

The one and only Bill Bonner.

 For those of you that don't know, Bill was the one who interviewed Dan, way back in November of 1997, when he first set out to become a financial analyst...

 The two kick off the conversation like old friends, recounting tales from the old days, and catching up on what's new in life...

But the conversation turns gravely serious when Dan gets Bill's take on some major developments happening in the world right now...

The two discuss the fast-developing Evergrande debt crisis, the rising inflation we're seeing just about everywhere, and where we might see societal upheaval flare up next...

Bill explains what this all means for investors, and gives the listeners some key advice on how to protect yourself from that worst-case scenario... 

If you're concerned about what's going on in America today, it's a conversation you do not want to miss...

You can listen to Dan's full conversation with Bill and much more in this week's episode.

This week Extreme Value Editor Dan Ferris discusses a simple way to figure out where you’re most likely to succeed in the stock market and in life. Money manager Jesse Felder stops by to chat about how the Federal Reserve has distorted the financial markets, and why you shouldn’t wait until the recession to prepare your portfolio for the worst.

In this week's episode of Stansberry Investor Hour, Dan speaks with Rob Arnott. When Rob talks, we listen. And right now, he's saying that the market cycle is turning from one predominated by growth to one predominated by value.

That presents an exceptional opportunity for the patient contrarian value investor. Rob discusses his two "core investment principles" and his forecast for out-of-control inflation (including a few "inflation fighter" places to consider putting your money today).

He also covers a proprietary definition of the term "bubble," what's going on with electric vehicles, the "best way to read the news," and much more.

Extreme Value Editor Dan Ferris talks about a kind of insurance available for investors against market volatility. He also chats about the only way Uber’s IPO is worth it. Our special guest, Eric Wade discusses the opportunities right now in cryptocurrencies.

This week, Crypto Capital Editor Eric Wade stops by the podcast to chat about his recent seminar with former Congressman Ron Paul about the future of money. Extreme Value Editor Dan Ferris asks Wade about the future of cryptocurrencies, and what increased government scrutiny means for the sector. Listen now!

It’s not the sexiest part of the market, but Dan decides to break down bonds.

If you look at the benchmark ten-year bond treasury yield, it has tripled since last year. Does this mean the bond rally is over and we’ve topped out at the bond market? Or is inflation finally kicking in as yields climb?

Bond interest rates are the lowest they’ve been since there’s been data for this, and if the Fed keeps trying to stabilize and suppress rates, printing endless cash and buying new government debt, the more dire the economic consequences will be. They should just let the market adjust naturally, or we’ll have 2008 all over again.

Dan’s guest this week is Chris Retzler, a portfolio manager at a small-cap growth-fund for Needham Funds Asset Management. His fund thrived during the bear-market bottom, nearly doubling. Retzler’s forte focuses on nurturing long-term relationships with his portfolio companies’ management teams and seeking out undiscovered investment opportunities.

The appeal of small-cap stocks is the room for growth along with a more potent potential for gains -- but how does Retzler make his market picks? His fund has succeeded during the pandemic (Moderna is in their portfolio), but what exactly are the best small-cap markers?

It appears getting acquainted with management is a vital first step in investing with emerging small-cap companies. To be a concentrated investor, you have to know with whom you're investing. Regarding small-cap tech opportunities, look for capital-intensive companies that don’t have a lot of competition in the same space, e.g., semiconductor makers. And he highlights telemedicine as a surging fertile investing ground for explosive growth.

Oh, and always follow Warren Buffet’s four basic tenets of investing.

Listen to their conversation and much more on this week’s episode, including mailbag questions that cover everything from aluminum to acquisitions.

Also, check out a new episode of Stansberry’s podcast where politics and economics meet, American Consequences with Trish Regan.

On this week's episode, Dan speaks with Bethany McLean, author of the "The Smartest Guys in the Room" the story of the scandalous and unexpected fall of Enron.

Before their epic collapse, Bethany was one of the first in the financial media investigating the red flags around the company. In early 2001, she wrote an article in Fortune Magazine, titled "Is Enron Overpriced?"

Bethany even lets Dan in on an industry that could be seeing bankruptcies in the coming years.

The two also touch on the Coronavirus, and the reason there's so much uncertainty. Bethany admits "there's a lot that we just don't know" but ends the episode on a very positive tone. Enjoy.

Dan and Corey kick the show off by discussing the newest unemployment number and its implications for inflation, rate cuts by the Federal Reserve, the stock market, and the future of the economy. They speculate that this unemployment rate could result in the Fed putting off rate cuts for even longer.

Next, Whitney joins the conversation by discussing the "Magnificent Seven" tech stocks and explains why he thinks smaller-cap, more value-oriented stocks will be driving the markets next. He also compares Tesla CEO Elon Musk's "rampant narcissism," "bro culture" at the company, and antisemitic tweets with exemplars like Warren Buffett and Charlie Munger.

This leads to a discussion about how cultural differences affect businesses. Whitney brings up Anheuser-Busch's Bud Light ad campaign with a transgender influencer and Disney fighting Ron DeSantis' controversial bill in Florida. He shares why he thinks companies are "running pretty darn scared these days" after seeing both those iconic businesses suffer for taking political stances.

Then, Whitney talks about his Top 10 list. He details why Berkshire Hathaway continues to be such an attractive opportunity today and why it's the perfect foundation for any portfolio. And he also emphasizes that we are no longer in a TINA world, or "there is no alternative."

Finally, Whitney gives his opinion on what he thinks the Fed will do next in terms of interest rates and what the potential outcomes could be. You also won't want to miss his answer to Dan's final question, where he explains why it's crucial to limit the amount of "partisan and polarized" information you're consuming in traditional media, since it could be affecting your investing choices. 

This week, Dan welcomes back an Investor Hour favorite... Stansberry Research's resident cryptocurrency expert Eric Wade.

Eric is the editor of Crypto Capital, Crypto Cashflow, and the Stansberry Innovations Report. Before joining Stansberry, he was a successful investor, Internet entrepreneur, founder of an internationally renowned business, and a movie scriptwriter. His passion for cryptos started with mining bitcoin and Ethereum before moving on to other strategies within the sector that raked in multiple double-digit winners.

As Eric tells Dan, it's undeniable that we're in a crypto bear market, and there are "no bailouts, no mulligans, no do-overs" for this volatile, sometimes-unforgiving industry. But even amid the current "crypto winter," he has uncovered winning trades for his readers that boast double- and triple-digit yields...

"We look for the source of the yield. And what surprises a lot of people is that we're in a world where most of us expect that most yield comes from being the other side of someone else's transactions, someone else's debt... But in the crypto space, we've managed to monetize that..."

"Some of your yields can come from other people's mistakes. And that monetization, to me, that's what the blockchain/crypto industry has as a secret weapon. Any strategy or tactic that anybody has deployed in the financial industry – you can monetize it now."

On the show, Eric and Dan discuss this secret weapon and the unlikely places you can use it.

He also shares a quick lesson on crypto basics using easy-to-understand analogies for listeners who are new to crypto. He delves into Ethereum's potential future as a global currency rivaling the U.S. dollar. And he challenges our host to a spirited discussion surrounding Dan's long-held belief that crypto is just "speculative technology" that "doesn't feel like a currency or a store of value." (Spoiler: Eric says Dan is dead wrong.)

This week's episode of Stanberry Investor Hour features John Netto, author of investing book The Global Macro Edge. 

Dan and Corey start the episode by examining the recent failure of First Republic Bank – the second-largest U.S. bank failure to date – and its acquisition by JPMorgan Chase. They raise concerns about the ongoing banking crisis and the role the government plays in backing "too big to fail" banks. With three of the four largest bank failures in U.S. history happening in the past two months, there's growing uncertainty heading into this week's Federal Reserve meetings.
 
Then, John joins the conversation and shares insights from his book, including the concept of how emotions act as the lubricant for decision-making. He says that traders often make the mistake of analyzing their success based solely on the results rather than how well they executed their process. To combat this phenomenon, John created the "Netto number." He explains how it can help investors recognize when their strategy begins to decay and how they can use it to maximize returns.
 
The discussion then shifts to central banks and monetary policy, with John describing his four factors for analyzing Fed events. Based on his analysis, John argues that the Fed will not be cutting rates this year and will instead be keeping them near a 4.5% to 5.5% pace until the second quarter of 2024...
 
"Because we have interest rates at 7%, it's going to take a long time for this housing inventory to roll over."
 
He asserts that if we go into a recession, it will be a very mild one. You can hear his full reasoning in today's Investor Hour.

➡️ Watch Here

For today's episode of Stansberry Investor Hour, we've managed to reel in one of Dan's favorite Twitter personalities: Michael Gayed.

Michael is the brains behind The Lead-Lag Report, a long-term investment strategy newsletter. 

According to Michael, "Path matters more than prediction, "... especially in the credit event and the market rally he sees possible in 2023. He relies on multiple indicators that "get ahead of highly volatile regime shifts in equities," and "when they [the indicators] all give you the same message, that's your tell."

Michael also breaks down the lumber-to-gold indicator for market moves... the fallacies in market timing and adapting to the market... the meaning behind his Twitter profile picture... and more.

Plus, you'll also hear Dan and Corey discuss how stock bulls pinning their hopes on a Fed pivot could be in for a disappointment and the latest in shenanigans from the duo's favorite dethroned crypto king.

In this week’s podcast, Extreme Value Editor Dan Ferris discusses Microsoft’s latest plunge into AI, and shares the best free resource to get the sharpest analysis on Tesla! Our guest, Michael Mauboussin, Director of Research at Blue Mountain Capital Management, shares why it’s better to be smart than lucky at investing.

Dan and Corey kick off the show by reviewing the most recent PCE number, what's
happening with inflation, and the current state of the economy. (0:41)

Next, real estate expert and entrepreneur George Gammon joins the conversation and
explains how he became a self-described "macro addict" without any formal education in the
world of finance or economics. Plus, he discusses why he considers himself a libertarian and
why most investors and billionaires would fall into this category, even if they don't self-
identify as such. (21:59)

Further, George describes how his investment style is influenced by being a libertarian. By
default, his view is that the government is always going to do the wrong thing, resulting in
unintended, net-negative consequences. George also goes into detail on the similarities
between value investing and trend following. He argues that successful value investors are
always looking for a catalyst so that they can catch the trend at its very beginning stages,
while stereotypical investors are happy to catch the middle portion of the trend. (34:16)

Lastly, George explores the biggest differences between retail investors and professional
investors. He details the strategy that the best hedge-fund managers use: starting with a
macro view and then looking at the fundamentals and the narrative later. George
emphasizes that these experts spend most of their time deciding how to position themselves
and using asymmetry to stack the odds in their favor like in a game of blackjack. (46:32)

Dan shares a special Election episode of Stansberry's newest podcast: American Consequences with Trish Regan. Trish breaks down the current state of the votes, and what’s to come, with special guests Sean Spicer, Andy Puzder and Dr. Sebastian Gorka. To listen to more episodes of American Consequences, subscribe on your favorite podcast app, or head to AmericanConsequences.com

Last month, your Stansberry Investor Hour host and Extreme Value editor Dan presented at the 20th annual Stansberry Conference alongside dozens of exceptional speakers. And today, he's giving his listeners a special peek into one of the panels he participated in with fellow editors.

This wasn't your typical roundtable discussion... Instead, moderator and Stansberry Research's Director of Research Matt Weinschenk had gathered some of Stansberry's "more outspoken and colorful personalities" for a lively game of "Bull, Bear, or B.S."

Dan is joined by his colleagues: the Retirement franchise's Dr. David "Doc" Eifrig, Crypto Capital and Crypto Cashflow's Eric Wade, and Matt McCall of The McCall Report and Matt McCall's MegaTrend Investor. The four must each choose whether they're bullish or bearish – or calling B.S. – on some of the most controversial topics in finance today.

They also share their viewpoints on the current stock market valuation in terms of the CAPE Shiller P/E (that's cyclically adjusted price-to-earnings) ratio. You'll also hear each editor's take on the future of the housing market, consumer spending, energy stocks, bitcoin, and the metaverse – including Dan's hot take on well-known companies like gaming pioneer Atari grabbing up virtual real estate...

You can also click here to watch a video of the panel on YouTube.

On this week's Stansberry Investor Hour, Dan and Corey are joined by Paul Podolsky. Paul previously worked as a strategist for Bridgewater Associates – one of the largest hedge funds in the world – for nearly 16 years. Now, he's the founder of Still Press, an author, and the host of the Things I Didn't Learn in School podcast.

But first, Dan and Corey discuss Ben & Jerry's recent tweet about "stolen Indigenous land," as well as the broader implications for businesses engaging in political activism. They explore the potential impact on market performance, consumer behavior, and the overall perception of companies like Target, Disney, Starbucks, Unilever, and Anheuser-Busch. (00:41)

Paul then joins the conversation to highlight his experiences at Bridgewater under billionaire investor Ray Dalio and share insights on the second-largest economy in the world, China. He says Chinese assets can offer positive expected returns and low correlation with other assets, which makes them attractive today. However, Paul draws from his experience with trading Russian assets to inform his views on China. He emphasizes that the future of both China and Russia remains uncertain. (19:40)

Lastly, Paul shares his insights on another potentially lucrative emerging market... Chile. Despite the challenges Chile faces due to political fluctuations, Paul explains how it remains an investable option for those seeking diversification. As global economic debates continue, it's crucial for investors to carefully evaluate the potential returns and risks of investing in emerging markets. (45:27)

➡️ Watch Here

On this week's episode of the Stansberry Investor Hour, Dan kicks off the show with a rant about Bitcoin. He shares what makes Bitcoin different from other fiat currencies and argues that everyone should own a small amount.

Then, Dan brings author, Matt Ridley, onto the podcast for this week's interview. Matt is an award-winning author who has written books such as Genome, The Rational Optimist, The Evolution of Everything and many more. His books have been translated into 31 different languages and have sold over 1 million copies worldwide.

Matt and Dan discuss the Coronavirus, and the global response to it. Are governments around the world doing the right thing? Are people right to worry? Or is there cause to be more optimistic?

Then on this week's mailbag, Dan gets a lot of heat from some of the listeners. Is last week's guest, Bill Browder, a crook? Was the Russian government the real victim? Did Dan buy into Bill's propaganda?

Dan examines the arguments from some listeners and fires back.

Dan's been ranting about excess in the stock market for ages. And today, he's found the perfect example... when earlier this week one of the least innovative businesses in recent memory soared over 1,400% thanks to some surprising news.

Then on this week's interview, Dan welcomes guest Amity Shlaes on to the show. Amity chairs the Board at the Calvin Coolidge Presidential Foundation, famous for sponsoring the Coolidge Scholarship, a full academic scholarship for academic merit.

Amity has written five books, four of which are New York Times Best Sellers, including The Great Society: A New History, The Forgotten Man, Coolidge, and The Greedy Hand. Dan and Amity discuss several of her books and how the historical episodes she writes about are instructive for investors today.

And finally on the mailbag, one listener asks Dan... what's going on with silver? And another listener asks, Dan, you've been right on so many calls... why aren't you more aggressive?

This week, Extreme Value Editor Dan Ferris chats with guest Tim Price about secret warning signs lurking in the stock market. We also talk about how a controversial arrest at a Starbucks may impact the stock… and a new warning sign from Apple. Dan also shares details on what he calls “the best mining investing conference in the world,” and how you can go for a discount.

On this week's episode of the Stansberry Investor Hour, Dan opens the show ranting about The Heroes Act passed by the House of Representatives... a stimulus package with a $3 trillion price tag. Both sides of the aisle have agreed to print money like it's going out of style.

Dan also shares an interesting silver trade that was brought to his attention  from one of Stansberry's top traders.

Then on this week's interview, Dan welcomes guest Cullen Roche on to the show. Cullen is the founder of Orcam Financial Group, which is a financial services firm offering research, personal advisory, institutional consulting, and educational services. Before founding his own business, Cullen oversaw $500 million in AUM with Merrill Lynch Global Wealth Management.

During the interview, Cullen explains in detail why the Fed usually takes all the heat when it comes to irresponsible fiscal policy, but the Treasury often gets overlooked. "The entity that is much more powerful in terms of money printing prowess is the US Treasury." Cullen also presents a grim view on the bond and equity markets going forward but gives sound advice on how to protect yourself.

And finally on the mailbag, one repeat listener asks Dan if he thinks taxes will be raised going forward. Will the governments of the world even attempt to pay back all this debt? And another dedicated listener presents his own research on how trailing stops may affect your returns.

This week's Stansberry Investor Hour episode features one of the most accomplished financial journalists today. He's a returning guest, and his latest book couldn't have come out at a better time...

But first, Dan and Stansberry Digest editor Corey McLaughlin start off the episode's "opening rant" by taking on a recent headline-maker: the FTX debacle. The world is watching rapt as global authorities comb through the wreckage left by the collapse of this prominent cryptocurrency exchange... only to discover that "it's worse than we initially thought."

Among other "scandals and wonderful things that crashed and burned," as Dan puts it, no one can forget the shocking downfall of another market monolith: General Electric (GE). This company gave us life-changing innovations like the light bulb, radio broadcasts, fluorescent lamps, X-ray machines, jet engines, and more... before it went into a dramatic tailspin starting two decades ago.

That's why today, award-winning author William D. Cohan joins us for his second appearance to cover this spectacular corporate meltdown in depth. His latest book, Power Failure: The Rise and Fall of an American Icon, features rare interviews with key figures from GE (like former CEO Jack Welch). Published just a week ago, it has already drawn scores of praise.

William's prolific career includes several other books – three of which are New York Times bestsellers – and writings for numerous financial publications like Fortune, Barron's, and the Financial Times, to name a few. Plus, he has 17 years of experience in mergers and acquisitions (M&A) banking at some of Wall Street's biggest firms like Lazard, Merrill Lynch, and JPMorgan Chase.

Dan picks William's brain about the writing process for his book...

There's a dead body on the floor, and how did it get there? I'm doing the autopsy. I'm doing a corporate autopsy. How did GE go from being the valuable, most respected company in the world to irrelevant, being broken up, being a fraction of both what it was worth and the respect people had for it?

The two discuss GE's beleaguered history... and then William shares his No. 1 qualitative factor in fundamental analysis that investors should always consider while researching a stock.

Dan opens this week's rant completely beside himself, as he shares the latest story of jaw-dropping excess in the market.

But this isn't the story of your typical cryptocurrency pump and dump...

Or a message board banding together to try to create the next "meme stock..."

It comes from a business you'd never expect in a million years... and Dan calls it the single most insane example of speculative froth he's EVER seen in the markets.

Then on this week's interview, Dan invites Ken McAtamney onto the show.

Ken is the head of the global equity team and a portfolio manager for William Blair's International Growth, Global Leaders, and International Leaders strategies.

Before joining William Blair in 2005, Ken was a vice president at Goldman Sachs, where he was responsible for institutional equity research coverage for both international and domestic equities.

Dan and Ken cover a wide range of major growth themes that will likely shape the future investment landscape. Ken presents a ton of unique ideas of how many current industries may evolve and the massive opportunities you should be looking for.

During their conversation, Ken shares nearly a dozen names of stocks with sustainable long-term growth in emerging industries that he loves.

And finally, the mailbag is filled with some great questions this week... One listener asks Dan if he thinks we could ever have a sovereign debt crisis like Jim Rickards describes?

Another listener asks Dan to elaborate on what he meant when he previously said "gold is a bauble..."

And a long-time listener asks who is the best author of investment books and why, taking fame and notoriety out of the equation and focusing only on substance?

Dan gives a thoughtful reply to this question and more on this week's episode.

David Trainer, the founder and CEO of New Constructs, joins the show. He kicks off the conversation by describing how his company takes value investing to the next level with AI. He explains that the days of buying stocks and holding them forever are gone. Today's investing landscape requires investors to be more agile, and AI helps with this. David specifically mentions how he uses AI to sort through millions of financial filings, footnotes, and data points to give him an edge and produce better results. However, he warns that AI is only as good as the data that goes into it. (3:49)

Then, David talks in depth about how humans are still involved in the investing process, including making decisions when the AI is unsure how to interpret certain findings. He breaks down how New Constructs' technology is giving clients a competitive advantage and augmenting the rest of their strategy. Plus, David discusses the importance of using both technicals and fundamentals when investing, and he shares why expectations matter so much to valuation. (14:34)

Lastly, David names the two sectors he finds most attractive and two that folks should avoid. This segues into a conversation about a recent pump-and-dump scheme used to take advantage of retail investors, why the U.S. Securities and Exchange Commission doesn't take action even when it should, and the damage done by years of low interest rates. (33:35)

Dan and Corey close things out by discussing inflation and the hotter-than-expected numbers for the personal consumption expenditures index. They cover unrealistic investor expectations for rate cuts, the government's misplaced priorities, and the very real consequences of this persistent inflation on workers and small businesses. (51:20)

In a market like we see today, investors tend to throw caution to the wind...

Whether it's the next SPAC offering, cryptocurrency, or even an obscure ape-themed piece of digital art, it seems like you can find a buyer for just about any asset nowadays...

But, as Dan often points out, chasing these short term gains has tons of risk. For most folks, you're likely much better off holding real hard assets as a part of a diversified investment portfolio.

So that's why this week, Dan invites Rick Rule back onto the show to talk about investing in real hard assets and the booming resource markets.

Rick began his career in the securities business in 1974 and has been principally involved with natural resource securities ever since. Over his long career, Rick has originated and participated in hundreds of debt and equity transactions with private, pre-public, and public companies.

Today, Rick is widely regarded as one of the most accomplished natural resource investors on the planet.

During their conversation, Dan and Rick dive deep into the weeds on the rising inflation numbers and what that means for commodity prices going forward...

Rick even shares the names of a few fascinating ways to play uranium and silver markets, that you likely have never heard of before.

It's an episode with a ton of valuable ideas that you won't want to miss. Rick shares some of the biggest lessons he's learned and unlearned from his nearly 50 years of investing experience.

We're excited to bring on a brand-new Stansberry Investor Hour guest this week – a name that Stansberry Research readers will undoubtedly recognize: Brett Eversole...

After working with Stansberry Research heavyweight Dr. Steve Sjuggerud for more than a decade, Brett is now the lead analyst for Steve's suite of publications. In True Wealth, Brett and his team help their readers uncover safe, alternative investments that are overlooked by Wall Street. In True Wealth Systems, they use advanced, proprietary software to amplify investor returns in every corner of the market.

And in True Wealth Real Estate, they scour the market for deals that combine the power of investing directly in private real estate with the ease of profiting from housing stocks. That's where Brett and Dan start this week's interview...

A slew of new data released just last week confirms that the housing sector is in a worsening tailspin. But as a contrarian, Brett says the masses have mistakenly "over extrapolated" this cooldown and that we're not, despite popular belief, in a 2000s-style bubble that's headed for a bust.

Housing is like water – it's at the bottom of Maslow's hierarchy of needs... Nobody panic-sells their house.

He explains why today's reality is far different from what most folks fear and that with the right data and analysis, you can even uncover ways to profit in the housing sector today.

As for the driving force behind this slowdown, inflation is another topic that Brett and Dan tackle. They discuss its history (like the "guns and butter" era Dan lived through), their outlook on interest rates, and the Federal Reserve "pivot" narrative.

Finally, you'll hear about a shared musical hobby between the two and how it intersects with finance. And Brett leaves listeners with advice on how to work smarter – and not harder – with tips on developing effective work habits.

Even if you're in complete denial about the markets, it's tough to ignore the signs of extreme excess in the markets today...

This year, more brokerage accounts were registered than ever before...

Capital inflows are seeing outrageous all-time highs...

NFTs are selling for millions... and meme stocks are more popular than ever...

So, where can investors find value in the market at a time like this?

On this week's episode, Dan invites special guest Stan Majcher onto the show to help answer this question...

Stan comes with over 27 years of industry experience, and today he serves as portfolio manager of the Mid-Cap Value fund (HWMAX) at Hotchkis & Wiley...

During their conversation, Dan and Stan discuss one corner of the market that has been almost completely forgotten by most investors.

Stan says that right now, big changes are happening in this industry, and there's some very strong bullish tailwinds for stocks in this space that the public hasn't picked up on yet. He says many investments in this space are criminally undervalued and could see much higher prices very soon.

If you're looking at the markets and are searching around for investments with actual value, you might want to consider some of the ideas Stan shares.

Listen to Dan's conversation with Stan, and much more, on this week's episode.

In a week where markets hit new all-time highs, Dan gets to the question everyone asks with each new record. “You all know where I’m gonna come down on this.”

With this high-water mark, it’s a good time to reflect on the principles of investing, from risk management, to value, to growth. Dan gets into the weeds on the literature of investor behavior – and the findings by DALBAR on individual investing performance, which while never changing year after year, are always shocking.

On this week's episode of the Stansberry Investor Hour, we're inviting a different type of guest onto the show.

He's a man with tons of experience as an investor...

After all, he worked as a portfolio manager for Harding Loevner for many years...

But what really sets him apart, is that he is the owner of a professional soccer team in England...

This week, Dan invites owner of the Plymouth Argyle, Simon Hallett, onto the show...

Simon's not your typical guest, so Dan takes this opportunity to ask Simon all the questions from a successful businessman and sports owner.

The two have a lighthearted conversation about what it's like watching your favorite sports team as a child, then growing up to become the owner...

Then they pivot to some of the best investing lessons Simon has learned over his many years as a portfolio manager...

And Dan picks up on a ton of good advice from Simon that applies to every investor.

It's a conversation full of great business and investing insights... from a man with decades of experience to show for it.

You can listen to Dan's full conversation with Simon and much more on this week's episode.

Dan launches into this week’s episode dissecting the warning from billionaire investor Ray Dalio, who’s saying there’s significant risk of a recession in 2020 – not just in the U.S., but a global slowdown.

While no one can tell the future, there is one grim statistic on Dan’s mind that doesn’t dispute this claim. 

He then introduces this week’s podcast guest, Christopher Irons. 

Christopher started writing about finance and "pulling the curtain" back on the B.S. of the industry under his moniker Quoth the Raven in 2013. Since then, he has been quoted in the Wall Street Journal, Financial Times and Barron's, has made Seeking Alpha's list of Top Bloggers, Forbes' 100 Twitter Accounts in the Financial World to Follow, and has shared the stage as a speaker with acclaimed investors David Einhorn, Andrew Left, Ben Axler, Jon Najarian and many others.

He's got a firm opinion on Tesla – and a prediction on exactly how the stock’s downfall will come about. And he’s not shy about calling another household name “fraudulent.” 

In fact, Christopher is known for his blistering analysis behind shorting companies, starting with the first presentation Dan ever saw of his, titled “Short the Whole $%#@*&$ Thing.” 

Dan and Corey kick off the show by discussing inflation staying persistently higher, rampant government spending and money-printing, and the repercussions of the Federal Reserve's decade-plus of low interest rates. (0:41)

Next, Cambria Investment Management's Meb Faber joins the conversation to talk about the exchange-traded funds ("ETFs") at Cambria and why the team focuses on shareholder yield when picking stocks for these ETFs. He breaks down the importance of shareholder yield in mega-bubble markets like today's and urges investors to pay more attention to it. (24:25)

Meb then discusses managing risk on a portfolio level, including focusing on quality and value. He also covers why emerging and foreign markets are so attractive today, the opportunity in fixed-income investments like bonds and Treasury bills, and how higher interest rates have changed the game. (38:21)

Finally, Meb describes himself as a value investor and shares which areas of the economy he's most concerned about. He talks about inflation driving commodities sharply higher, gold hitting new highs, and why investing at all-time highs can still be a smart choice. (56:43)

In this week's Stanberry Investor Hour, Dan welcomes fellow Stansberry Research analyst Mike DiBiase to the show. Mike came to Stansberry in 2014 after spending nearly two decades in finance and accounting. He now serves as our bond-investment expert.

To kick the episode off, Dan and Corey discuss the latest home-sales data, how these numbers compare with the previous year's, and what this means for the economy going forward. Dan emphasizes that the housing market is a crucial indicator of a looming recession, and he questions the potential impact of inflation when the market collapses...

"Yes, we're going to cry uncle at some point... when the market [does], where will inflation be?"

Mike then joins the conversation, and the three delve deeper into recessionary trends and post-pandemic inflation. Mike explains why the current inflationary period reminds him of a famous quote by economist Milton Friedman – "Money-printing is like alcoholism" – and that the bad effects have to come first to cure inflation.

➡️ Watch Here

The GameStop rise has come and gone.

Last week, shares for the retail video game store traded as high as $480... but over the past week the stock has plummeted over 80%.

Dan examines the situation and comes away with some key takeaways about free brokerage apps, like Robinhood, and who they truly serve.

Then Dan brings the perfect guest onto the show to discuss the situation, legendary trader and market wizard, Chris Camillo.

In 2007, Chris began his investing career by turning $20,000 into over $2 million, during a three-year period where you were lucky to make any gains in the market at all.

Today, Chris is an accomplished author, investor, and entrepreneur who has been featured in Jack Schwager's book Unknown Market Wizards.

Chris' trading style is pretty different than anything we've covered on the show before.

Chris explains how he uses social arbitrage investing to try to get out ahead of new trends and identify early shifts in popular movements.

Chris says he does almost 100% of his research and trading right from his phone, using social media sites like Twitter, Reddit, and Discord to find his ideas. That's how Chris was able to see the covid crash coming ahead of time, and place a trade that made him a 7-figure windfall...

Dan and Chris sit down and discuss some of the biggest calls he's gotten right, big opportunities he's missed, and his advice for anyone getting into trading.

Listen to their conversation and much more on this week's episode.

Interested in more from Stansberry Research? Check out the American Consequences podcast here: https://podfollow.com/americanconsequences

On the opening rant this week, Dan gives the listeners something special that he typically only reserves for his newsletters subscribers.

 Dan reveals the full details on a trade that he's liked off and on for many years now...

Not only that, but he walks you through the trade step by step...

And he explains why there's never been a better time in history to put this trade into action...

Then, on this week's interview, Dan invites Danton Goei of Davis Advisors onto the show. Danton joined Davis Advisors in 1998, and now works as portfolio manager for the Davis Large Cap, Global, and International portfolios.

 During his conversation with Dan, Danton takes the listeners behind the curtain, explaining many of the ins and outs of portfolio management that he's learned over decades experience managing multiple funds...

Plus, during their conversation Danton shares the names of two stocks that he absolutely loves right now.

 One is a fairly popular name that has been shunned in the media as of late... but the other pick is one you've likely never heard before with massive upside... 

If you're looking to personally mange your own investment portfolio, Dan and Danton cover a ton of valuable material you won't hear anywhere else.  

 Listen to Dan's conversation with Danton, and much more, on this week's episode.

We’re live from the bright lights of Las Vegas for this week’s Investor Hour podcast! Extreme Value Editor Dan Ferris discusses what he calls the biggest bubble in history… and why it’s bigger than the tech or housing bubble.

This week, Extreme Value Editor Dan Ferris explores if the Fed's recent rate cut in response to coronavirus fears will make up for the economic slowdown. He cautions against optimism in the market going forward. Dan also points out what President Trump doesn't get about interest rates.Our guest, award-winning journalist Gregory Zuckerman from The Wall Street Journal dives deep into one of the most well-kept secrets of the finance industry. He explores how the Medallion Fund was able to return 66% annually over a 30-year span. Listen now!

So, what does Tobias have to say about the slump we're in?

It's not really a question of where you think the market's going to go because you're invariably going to be wrong... The best return you're going to get is by being fully invested.

He says "names that can survive a nuclear winter" are the keys to surviving this bear market. To Tobias, that means focusing on deeply undervalued companies – ones that are buying back shares, are cheap, and are growing at a reasonable pace. He also breaks down the art of valuation – including his Acquirer's Multiple measure – and how to identify the right time to buy or sell.

On the heels of a new report warning GE is a bigger fraud than Enron, to the latest unjustifiable IPO of a flashy tech star, to the testing of autonomous vehicles, there’s a lot to unpack this week.

Dan then gets to this week’s special guest, John Doody.

John Doody brings a unique perspective to gold stock analysis. With a BA in Economics from Columbia, an MBA in Finance from Boston University, where he also did his PhD-Economics course work, he became interested in gold due to an innate distrust of politicians and concern over their habit of debasing the currency via inflationary economic policies. 

This week, with coronavirus cases spreading, Extreme Value Editor Dan Ferris discusses how you can track the outbreak and begs the question "Is the situation worse than is being reported?"Our guest, Raoul Pal, discuss global macro ideas and Raoul gives the listeners four simple words of advice to help their portfolios. Listen now!

This week's Stansberry Investor Hour episode features multiple guests...

And they're you, our listeners.

You see, we've been reading every e-mail and listening to every voicemail as they've come in. So for today's episode, we're opening the floodgates and sharing as many of your mailbag missives as we can cram into the show's hour.

We'll share your feedback – both good and bad – and questions that run the gamut from...

What is the most interesting buy-and-hold opportunity considering the crisis in Europe?

To...

Is Dan about to pass away?

Dan and his co-host Corey McLaughlin tackle all your comments and questions. You'll also hear...

• Dan and Corey's picks for "the most interesting buy-and-hold opportunity"

• The duo's take on Big Tech's layoffs

• What made one listener say, "It's the equivalent of Dan getting married and not telling us who this new person is"

• Why Stansberry Research values conflicting opinions

• The next "sleeper" crisis that's lurking for the U.S., according to Corey

• Dan's vote for the "dumbest thing in the world"

• Market bearishness and what Dan thinks is "baloney" about it

Get ready for today's special episode... As Dan says, "There's a lot to unpack."

On today's show, we're bringing in a very special guest...

His investing roots run so deep, his family was the subject of the book, The Davis Dynasty: Fifty Years of Successful Investing on Wall Street.

This week, Dan invites Chris Davis onto the show.

Chris is the chairman of Davis Advisors, an independent investment management firm founded in 1969 with over $23 billion in assets under management. Since its inception in 1969, the Davis New York Venture Fund has outperformed the S&P 500 in 98% of 20-year holding periods. In fact, 4 out of 5 Davis equity funds have been the market since their inception.

Chris joined Davis Advisors in 1989 and now has over 3 decades of experience in investment management and securities research. He's even previously been recognized as Morningstar Domestic-Stock Fund Manager of the Year in 2005.

During their conversation, Chris shares his philosophy on how discipline in your investments is key to building wealth over time. And why his strategy has produced outstanding results in just about any environment – including periods of inflation, recession, rising and falling energy prices, rising and falling interest rates, and bull and bear markets.

Chris gives a ton of incredible insight from his decades of experience managing money using real world examples you likely haven't heard anywhere else.

Listen to his discussion with Dan and more on this week's episode.

For more from Stansberry Research, check out the American Consequences podcast here: https://americanconsequences.com/podcast/

With markets continuing to recover this week after an epic selloff that included the worst December since The Great Depression, Dan revisits his initial 2017 warning, when he first reported that a genuine stock market mania had arrived.  

Dan looks briefly at three blue chip stocks, then talks about the Extreme Value recommendation he made public on the podcast weeks ago… The company is performing well. With the business rapidly unfolding expansion plans in China, bouncing off a multi-year low valuation, Dan “thinks we’re golden with Starbucks.”

The talk turns to Facebook, and rumblings that up to half of the 2 billion accounts in existence could be fake. Dan admits it would still be a great business with one billion accounts, but that more bad news would likely push the stock down—especially if it comes out that CEO Mark Zuckerberg knew about the situation but didn’t act quickly enough.  

Dan then turns to this week’s podcast guest. Fraser Buchan is the co-founder of Tradewind Markets Digital Gold Company. 

Fraser has spent most of his career in the precious metals industry.  And now he’s founded a company that is revolutionizing the gold and silver market.  During the interview, you’ll learn how Fraser’s company – Tradewind Markets – has created a technology that’s behind the safest, most secure and lowest cost way we’ve ever found for individual investors to own physical gold.  

When he describes the advantages his technology has over gold ETFs – including no management, administrative, or storage fees – Dan marvels at how he’s disrupting an industry.

Dan concludes, “You’re just sucking out the cost and giving the end user a phenomenal deal… you’re like the Amazon.com of gold.” 

El Salvador has officially made Bitcoin legal tender.

Some in traditional finance are calling it an experiment doomed to fail...

While others are calling it one of the biggest stories in the history of cryptocurrencies...

One thing is for sure... This decision will likely have far-reaching effects around the world for years...

Will other countries soon follow suit? Could this be the big adoption catalyst that sends Bitcoin soaring up towards $100K? Or will this experiment end disastrously and serve as a warning for other small nations thinking of doing the same thing?

To help us make sense of this incredible new development, Dan invited crypto expert, Cam Harvey, onto the show...

Cam is the professor of Finance at the Fuqua School of Business at Duke University.

And he's also served as editor of the Journal of Finance from 2006-2012... as well as the President of the American Finance Association in 2016.

When it comes to cryptocurrencies, Cam is way ahead of the curve...

When Bitcoin was trading between $200 - $400 per coin, Cam was giving lectures to his students about Bitcoin during his finance classes...

During their conversation, Cam and Dan discuss at length what El Salvador's recent move could mean for the US Dollar, traditional financial institutions, and other nations that might be thinking of doing the same thing...

If you've thought about investing in cryptos and don't know where to get started, Cam says we're less than 1% into this disruption, so now is the perfect time...

In fact, Cam walks listeners through the first 2 steps you need to take to get started in the crypto space the right way...

He says every listener should consider entering the crypto space... because in his words,

"You can either join this revolution, or get swept away by it..."

Listen to Dan's conversation with Cam and more on this week's episode.

When you see endless stories of greed and speculation in the market...

And you feel in your heart something is wrong...

But stocks continue to rise higher and higher... 

What's an investor to do?

This week Dan sits down with Tradesmith CEO, Keith Kaplan, to help answer this difficult conundrum...

Before Keith came to Tradesmith, he worked as a software architect for many years...

But despite a great profession, a steady income, and a good head on his shoulders, he struggled with his investments...

During his quest to improve, he was stunned and frustrated with the general lack of available tools and financial literacy most investors have... 

Now, he's using his 25 years of experience as a veteran software architect to change that, by providing sophisticated but easy-to-use tools for the everyday retail investor.

During their conversation, Keith talks about some of the mistakes he made early in his investing career, and how his new software aims to eliminate those emotional errors.

 He even shows Dan how Tradesmith's software can reduce the risk in your portfolio by simple allocation...

But whether you use Tradesmith – or another system for your "buy" and "sell" signals – Keith and Dan both agree the most important thing is to have a plan and stick to it.

 If you're concerned about the possibility of an oncoming bear market, but are still holding stocks, this is a conversation you do not want to miss...

In 2021, many hedge funds on Wall Street took a beating...

And strangely, thousands of retail investors made out like bandits...

Was it an anomaly? Or is it part of a new paradigm shift in the world of finance?

Dan looks to answer some of these questions by sitting down with the one man who knows more about the rise of retail investors than just about anyone...

He was one of the most anticipated guest speakers during this week's Stansberry Conference in Las Vegas...

And he's even had a film crew follow for the past year, creating a documentary on his life...

He's the original founder of the infamous subreddit – WallStreetBets – the one and only Jaime Rogozinski.

Jaime originally founded WallStreetBets on Reddit in 2012... And by 2019, WallStreetBets amassed over 1 million subscribers and had over 3 million monthly unique users.

Earlier this year, the group caused quite a stir when they bid stocks like GameStop, AMC, and other so-called "meme stocks" up hundreds of percent.

During their conversation, Jaime recalls some hilarious stories about WallStreetBets members who have made and lost massive fortunes in the stock market.

He even shares the story of some members who invested in the wrong stock... and accidentally made a ton of money.

Risky? Yes...

Dangerous? Perhaps...

But Jaime contends that the many people on WallStreetBets are learning to trade the best way possible – with a smile on their face and some real skin  in the game.

If you've ever been tempted to trade meme stocks, or just want to hear more about some of this crazy world, this is a conversation you must listen to...

On this week's episode, Dan brings Enrique Abeyta, editor at Empire Financial Research, onto the show to discuss the hottest new trend sweeping across the financial world.

Special Purpose Acquisition Companies... better known as SPACs.

What are SPACs? How are they different than a regular IPO? And why have they taken off in popularity recently? Is this just the next mania?

Dan fires these questions and more at Enrique, and he explains how, with the right guidance, SPACs provide incredible opportunities for regular folks to invest in companies they otherwise would never have access to.

On this week's Stansberry Investor Hour, Dan and Corey are joined by their colleague Whitney Tilson. Whitney is the lead editor on Stansberry's Investment Advisory – Stansberry Research's flagship newsletter – as well as Commodity Supercycles and his free e-letter Whitney Tilson's Daily. Once dubbed "The Prophet" by CNBC for his prescient calls, he joins the podcast to share some financial wisdom with listeners. 

Whitney kicks off the show by talking about the value of attending investing conferences and other company meetings. You can gain insights, talk to fellow investors, share ideas, and either discover promising trends or discover which trends are "bombs." Whitney emphasizes that avoiding calamities is just as important as finding the next big investment idea. He shares his experience with short selling and how he actually lost a lot of money by employing the technique. This leads to a conversation about value traps – what they are and how they can lead to ruin. (1:24)

Next, Whitney details his storied history with Netflix and why he went from shorting the company to investing in it. Ultimately, he found a 90-bagger. But he sold the stock early and left money on the table. The "most important lesson" he learned from that experience is to let your winners run. As Whitney explains, that's why index funds outperform almost all active managers over a long period of time – because they never sell their winners. (16:40)

Finally, Whitney hammers home that investors should be selective with stocks and only buy the best-quality businesses. Many of these companies see large drawdowns at some point, which can be perfect buying opportunities... even if you're not able to find the exact bottom. Whitney predicts that Nvidia could see a sizable drop since the company is relatively young and volatile. After, he shares that value stocks, small-cap stocks, and international stocks are all at 20-plus-year lows. This extreme underperformance presents an opportunity for investors wanting to diversify their portfolios. And Whitney also breaks down how to spot a high-quality business that may be struggling in the short term versus a value-trap business that will only head lower. (35:02)

One big announcement...

That's all it took to boost one dying old company from $2.10 on a Friday...

To as high as $60 on a Wednesday.

On this week's episode I’ll examine some of the foul play surrounding the $765 million Kodak deal that was just announced last week. It looks so bad that the SEC is already involved.

I also interview Simon Mikhailovich, founder of The Bullion Reserve, a full service gold solution for accredited investors. We talk about what makes gold better than many other investments, as well as where we see the price going in the upcoming years.

Dan and Corey kick off the show by arguing against the Federal Reserve potentially cutting rates this year. They point out that inflation is persistently volatile, gas prices are soaring and hurting everyday consumers, and the Fed is "pretending that everything is OK," according to Corey. Dan also brings up the fact that 2024 being an election year may have something to do with this. (0:43)

Next, Stansberry Venture Technology editor Dave Lashmet joins the conversation to discuss the biotech industry. He explains that he doesn't see biotech as a sector, and rather he looks bottom up at biotech companies to find a drug that will have a macroeconomic effect. Because only 6% of drugs that start a Phase I trial succeed, he says being selective is crucial. Dave also describes the three phases of drug testing and the importance of efficacy and safety data. (17:55)

After, Dave talks all things weight-loss drugs. He reflects on how he knew Ozempic was going to be a blockbuster drug from his boots-on-the-ground research, the incredible room for growth in this area, and the unprecedented amounts of money that biotech companies are spending on factories to develop these weight-loss drugs. (24:36)

Further, Dave discusses why the obesity epidemic has worsened over the decades and how exactly weight-loss drugs work to increase metabolism and suppress appetite. It involves something he calls the "winter switch." Plus, Dave brings up the U.S. Food and Drug Administration approving these drugs for the purpose of reducing strokes and heart attacks by nearly 20%. (32:40)

Lastly, Dave talks about the widespread economic implications behind weight-loss drugs and other areas of the market that could be impacted, such as the airline industry. However, Dave emphasizes once again that any mass changes are still years away due to supply constraints. (41:20)

Extreme Value Editor Dan Ferris reveals what it means to be bullish or bearish, and why most market predictions right now end so badly. He’s joined by Dr. Richard Smith, CEO and founder of TradeSmith to talk about the Bull vs Bear Summit, and how his unique approach can help investors… no matter what side they’re on.

In this episode of the Investor Hour Podcast, Extreme Value Editor Dan Ferris rants about a company about to go public that calls itself “the Facebook of fitness,” but burns through cash like Amazon. Cullen Roche, Founder of Orcam Financial Group stops by to discuss what rising interest rates mean for bond portfolios, and why the stock market is so risky today.

• To follow Dan’s most recent work at Extreme Value, click here.
• To check out Cullen’s work, click here.

On this week's Stansberry Investor Hour, Dan and Corey welcome Greg Diamond back to the
show. Greg is a fellow analyst at Stansberry Research and editor of the trading advisory Ten
Stock Trader. With nearly two decades' worth of experience trading and managing every
asset class, Greg is an expert at technical analysis and interpreting market cycles.

Greg kicks things off by reviewing the inflection points he predicted last time he was on the
podcast. He explains what these time cycles mean and how they've influenced his trading
strategy this year. He also discusses the upcoming presidential election and how crucial it is
for investors to put aside their biases. According to Greg, the market's wider emotional
reactions to the election could present some fantastic buying opportunities. (0:55)

Next, Greg breaks down famed trader W.D. Gann's technical strategies into simple terms. He
emphasizes that the "why" in market cycles is not really important. What matters is whether
history is repeating or not. Greg warns of cycle inversions, however, and points out that
many charts and algorithms in technical analysis just reflect human emotion. Investors will
naturally reach different conclusions about the market, which creates volatility. (17:03)

Finally, Greg talks about short-term trading versus holding stocks for the long term. He
shares that this presidential election is the most excited he has been about trading since
2022. Greg foresees "an exceptional trading season" after a fairly boring start to the year.
And he hammers home that investors should be careful of increased volatility for the next
few months and possibly even the next few years. (39:41)

What if we were in the midst of a gold rally, and no one was talking about it? Now that gold is up 7-8% over the last few months, Dan sheds light on why the uptick is so unreported, going largely unmentioned by mainstream media like The Wall Street Journal and Financial Times.

Dan thinks the answer lies in the aftermath of the Federal Reserve’s latest meeting, and the dovish interpretation that prevailed.

Clearly, the Fed is now thinking about supporting asset prices, now that their stated objectives of reaching full employment have already been met. Of course, that has some inevitable consequences. “If you screw with the market this long, the market says, “Uncle, Uncle!” And you gotta have some gold.”

After months of incredibly steady gains from the stock market, many retail investors are currently going all-in on stocks.

But Dan shares some startling facts about the global economy that every investor needs to consider before pushing their pile of chips to the center of the table.

Next, Dan brings Andrew Furman onto the show for this week's interview, a man with 35 years of experience in energy, trading, and portfolio management.

Dan and Andrew have an in-depth discussion about the principles behind Andrew's new book Risk is an Asset, where Andrew details how he uses risk to his advantage while trading options.

Andrew lays out a clear warning of the risks involved when traders become overconfident trading options, but assures listeners that "risk is good, as long as it's intelligently managed."

Listen to all this and more on this week’s new episode.

Is gold just another "greater fool" investment?

Warren Buffett seems to think so. Or at least, he's said as much in his 2011 letter to investors, when he compared gold to the tulip bulb mania.

On this week's rant, Dan examines this point of view and explains what Buffett doesn't seem to grasp when it comes to gold...

Then on this week's interview, Dan invites Gregg Fisher onto the show. Gregg is the founder and portfolio manager of Quent Capital, an asset management firm focused on systematically investing in global innovation.

Many guests on the show fell in love with finance and investing later in life... but that's not the case with Gregg. Gregg was born into the investment business and well on his way by the time he was a teenager. By the time he left college, Gregg helped pioneer some of the quant trading strategies that are so common in the industry today.

During their discussion, Gregg explains why so many small innovative companies are often overlooked. But he stresses that if you're willing to do a little extra leg work, many innovative small caps present a massive opportunity.

By the time the interview is over, Dan is left questioning if he has enough money in small cap stocks.

Then on the mailbag, Dan fields several questions from listeners about gold, including one listener who gives a fantastic real-world demonstration of gold's long term value. Another listener writes in and shares a story of remorse for selling his Bitcoin a little too soon. Dan gives him some words of wisdom and reassures him that "we've all been there."

Listen to Dan's response to these questions and more on this week's episode.

Inflation fears are rising...

And for many folks nearing retirement, it's happening at the worst possible time.

That's why it's absolutely critical to hold a portion of your wealth in solid long-term investments, so your nest egg lasts as long as you do...

But what's the best way to do it safely and with as little risk as possible?

Dan looks to answer this question by sitting down with the portfolio manager of the Needham Aggressive Growth fund – Mr. John Barr.

Prior to his career on Wall Street, John worked for 14 years in the electronic design and automation industry, giving him unique insights into the world's high-growth technology companies that many of his colleagues on Wall Street lack. 

Today, he works as a co-portfolio manager of Needham Growth fund and portfolio manager of the Needham Aggressive Growth fund.

During their conversation, John explains his philosophy of finding stocks that deliver compounding returns. He looks for what he calls "hidden compounders" before they become "quality compounders."

He even shares the name of one company in his portfolio that he bought at $7... which today is priced around $140... approximately a 20X winner...

Then he tells Dan about another stock he absolutely loves... But this one is still in the "hidden compounder" stage...

The company trades for around $10 today, and John thinks that long term, it could join the ranks of some of his biggest winners.

If you're looking to invest in high upside growth stocks, but want to know how to go about it the right way, this is a conversation you don't want to miss...

This week, a Stansberry Investor Hour listener-favorite returns to the show... Kevin Duffy, editor of The Coffee Can Portfolio newsletter and hedge-fund manager, is back. And on his mind is the spectacular, near-overnight collapse of banks. But the foundation of this month's banking fiasco was laid years ago.

He explains how it all started... how Silicon Valley banks had risky loan books balanced with less-risky U.S. Treasurys... how banks' assets tripled during the two years of pandemic-driven government stimulus... and how the bond bubble burst and set off a chain reaction. 

Kevin also shares that the root of the problem comes from the U.S.'s fractional-reserve banking system and reliance on the Federal Reserve and leverage. A simple way to understand the problems with today's banks is to list the characteristics of an ideal hedge fund. When that list is inverted, it describes a modern-day fractional-reserve bank.

➡️ Watch Here

This week, Dan invites one of the most respected healthcare analysts anywhere in the world onto the show...

His work has been featured in The Wall Street Journal, Bloomberg, The Financial Times, Kiplinger, CBS, and USA Today – just to name a few.

In fact, he was previously ranked by Fortune Magazine as the #1 Healthcare analyst in the U.S.

And today, he's here to talk about one of the best value plays anywhere in the stock market.

The one and only Tom Carroll.

Tom knows the healthcare industry landscape as well as anyone. In fact, that's what led him to start his newsletter with Stansberry Research, Cannabis Capitalist.

According to Tom, nationwide federal legalization of cannabis is inevitable. It's a matter of when and not if, which gives investors an incredible opportunity right now...

You can get into these stocks at a better value than you could one year ago... but today many of these companies have better revenues, earnings, and balance sheets than ever before...

Tom says if you ignore this opportunity, you'll likely come to regret it...

Plus, he even shares the name and ticker symbol of THREE of his favorite cannabis stocks that he's recommended to his readers...

If you've considered entering the cannabis space, but weren't sure the best way to go about it, this is an episode you don't want to miss...

Five days ago, GameStop traded for less than $50 per share.

Yet on Thursday, at the time of this writing, the stock has soared as high as $482.85...

What on earth is going on?

Dan explains what is behind the meteoric rise of GameStop, AMC, and a few other unassuming stocks in this week's opening rant.

Then Dan invites a trading legend and "market wizard" onto the show. For decades, Peter Brandt has been considered one of the world's foremost authorities on using classical charting principals to trade futures, forex and even the crypto markets.

Peter is also featured in the acclaimed book by Jack Schwager, Unknown Market Wizards: The Best Traders You've Never Heard Of. He's also the second wizard we've had on the podcast.

Peter gives Dan an in-depth look into why the classical chart patterns don't seem to work anymore, and how Peter's adjusted his trading today. If you think of yourself as a trader, this is an interview you cannot afford to miss.

And finally, on this week's mailbag Dan receives a great question about how the dollar could strengthen amidst this environment of stimulus. Another listener has a few questions about the recent censorship across big tech.

Dan gives his thoughts on these topics and more on this week's episode.

Interested in more from Stansberry Research? Check out the American Consequences podcast here: https://podfollow.com/americanconsequences

On this week's Stansberry Investor Hour, Dan and Corey welcome Brody Mullins to the show. Brody is a Pulitzer Prize-winning investigative reporter and author of the new book The Wolves of K Street. He joins the podcast to share insights from his two-plus decades spent investigating the Washington political scene. 

Brody kicks off the show by discussing his history reporting on antitrust regulation. He notes that recently, both major political parties in D.C. have become less friendly to Big Tech companies and are using antitrust regulation to slow their growth. After, Brody talks a bit about how he got started in journalism, the importance of holding those in power accountable, and why he has dedicated his life to investigating companies. (1:27)

Next, Brody shares some details about his book. He points out that for most of this country's history, companies had very little influence in Washington. Things only changed in the 1970s once the economy cratered and stagflation hit. Then, companies began to lobby in order to twist regulations and gain an advantage in the market. Brody also explains lobbying in simple terms, including how lobbyists raise money for members of Congress. He argues that legal loopholes and undisclosed funds to influence constituents have made companies nearly untouchable. (15:10)

Finally, Brody discusses why there's still hope for the American people to fight back. He explains that negative public perception about these big, powerful corporations (such as Amazon and Google parent Alphabet) has influenced antitrust regulators to begin taking action. He also talks about insider trading among members of Congress and emphasizes that all of these conflicts of interest are not limited to one party. (33:38)

When you ask folks about what worries them the most, one of the most common responses researchers heard was "the future."

But today's guest doesn't look at it that way.

When Matt McCall thinks of the future, he sees dozens of trends that will greatly improve all our lives... and a world of incredible investment opportunities. 

And when Matt talks about investment opportunities, it pays to listen.

After all, he's recommended an incredible 40 different 1,000% winners in his stock-picking career.

So, this week, Dan decided to invite Matt back onto the show for a couple of reasons.

The first is to get Matt's insight into some of these megatrends that will shape the way we live... trends like the future of transportation, blockchain technology, cryptocurrency, and much more.

And the second is to welcome him as the newest editor to join the Stansberry Research family. 

The two have an enlightening conversation that'll leave you much more optimistic about where we're headed. 

Matt even shares the names of two stocks that recently became public, flying completely under the radar today, that he believes could be his next 10X winner... 

It's one you DO NOT want to miss!

On this week’s podcast, Extreme Value Editor Dan Ferris dissects the headlines after Tesla’s monstrous run past $550 a share. Also, Dan explains how in this era of “unbridled optimism,” investors have to get other things right too. Our guest, Harris Kupperman, founder of Praetorian Capital outlines his criteria for finding stocks that can go up 3x-5x in the next few years.

David Daglio, the chief investment officer and global investment strategist of wealth-
advisory firm TwinFocus, joins the show. He kicks things off by describing himself as a
contrarian, and he explains that understanding who you are as a person will lead to the best
investing results. After, he goes into detail on how TwinFocus looks for creative "straw hat"
solutions that the market isn't seeing. Plus, he talks about risk premiums, the current
opportunity in natural gas, and the 30-year discount in gold-mining stocks. (3:29)

Next, David discusses the advantages and disadvantages of working at a large firm versus
being an individual investor. He shares that individual investors have the advantage of not
being overloaded with information, plus they're their own boss and can make their own
decisions. David also details the three conditions TwinFocus looks for before jumping into an
investment, the importance of recognizing your own intellectual biases, and how market
skepticism can be a huge opportunity. (15:29)

Lastly, David talks about "net-net" companies in the biotech sector that are trading for less
than their total assets... he breaks down what capital imbalance is and how to spot it... and
he explains that the savviest investors try to be like Spock from Star Trek, valuing facts over
feelings. (28:49)

Dan and Corey close out the podcast by discussing the Stansberry Research editorial
meeting that happened last week. This meeting brings Stansberry's editors and analysts
together to discuss different investing ideas and pertinent world news. One of the hot topics
at the meeting was the presidential election in November. Dan and Corey emphasize that
the best investors keep politics out of their investing decisions and stick to their core
strategy regardless of which candidate takes office. (49:22)

This week, Dan introduces a brand-new guest to Stansberry Investor Hour... But he's no stranger to Stansberry Research.

Dave Lashmet, colleague and editor of Stansberry Venture Technology, joins Dan for a fast-paced talk on innovation, technology, and, of course, investing. His Venture Technology service uses a "venture capitalist" investing approach and focuses on biotechnology firms. And according to Dan, Dave is "well known as a man who scours the Earth for great ideas," thanks to his boots-on-the-ground research and networking at countless conferences and meetings.

The two dive into Stansberry Research's history – including how founder Porter Stansberry actually hired Dave after meeting him in college... where Dave was Porter's professor. And Dave also regales Dan with tales of his former job as a self-described "mix between an engineer and a businessperson inside a tech company."

Dan also commends Dave for his recent recommendation to Venture Technology subscribers to sell their remaining stake in Nvidia (NVDA) for an eye-popping 1,400% return. And Dave gives an in-depth analysis of the biggest risks to the company, ranging from overseas geopolitical tensions to direct competitors like Intel (INTC). 

He also offers insights on the dichotomy between venture capitalists and "angel investors" and reveals exactly what he looks for in a company. Finally, he shares what investors should watch out for when researching prospective portfolio candidates.

On this week's Stansberry Investor Hour, Dan and Corey are joined by the founder and president of Chisholm Exploration, Cactus Schroeder. Cactus kicks off the conversation by describing the current economics of the oil industry, why rig counts are deceptive, what's happening with the Haynesville Shale and Marcellus Shale, and the upside in natural gas. He also explains why the Barnett Shale has become so attractive, how Chisholm Exploration differs from the oil majors, and how these larger companies essentially control the price of oil. (4:18)

Next, Cactus discusses why his company prefers oil to natural gas, earthquakes as a side effect of drilling, and how the Biden administration has been hampering exploration and pipeline development. He also details his experience in the Eastern Shelf region, including both good and bad wells and royalty interests. (21:52)

Lastly, Cactus covers the oil major he finds the most interesting today, the green-energy movement, and what's on the horizon for oil. He brings up Saudi Arabia cutting oil production in an effort to make prices reach $100 per barrel, the consequences of the war in Gaza, and the ongoing fight between land ownership and mineral rights in different states. (31:03)

Dan and Corey close things out by discussing the consequences of the Drug Enforcement Administration moving to reclassify marijuana as a Schedule III drug. They analyze what has
been happening with cannabis stocks since the announcement and the tax implications behind the move. Plus, they talk about Starbucks' recent disappointing earnings report and what weight-loss drugs becoming more available could mean for the economy and certain stocks. (53:32)

It seems like an silly concept, but Extreme Value Editor describes how you can develop “Olympic athlete” level discipline by being lazy. Our special guest, behavioral finance expert Dr. Daniel Crosby, discusses the reasons why emotions can make investing difficult.

Dan and Corey kick off the show by giving a sneak peek at their list of 10 things that would surprise investors in 2024 and where they predict the markets are headed. Specifically, they discuss the unassailable Magnificent Seven – which are "priced for more than perfection" – and why the high valuations aren't sustainable. While the other "Unmagnificent 493" stocks in the S&P 500 Index are essentially flat and it's "still a bear market for everything else," the Magnificent Seven have screamed higher. Dan warns that they're not safe.

Afterward, Jared joins the conversation and gives some tips on how to make finance less stressful. He shares that it's important to not cut out small luxuries that bring you happiness, like a Starbucks coffee every now and then. Rather, he says to focus on cutting costs for the bigger items. He also explains that being too conservative with your money can be detrimental. 

The conversation shifts to discussing the two main sources of financial stress: debt and risk. Jared explains that these sources of stress aren't correlated with how much money you have and instead are entirely based on how you structure your finances. 

Jared then talks about the market as a whole and shares some predictions. He covers why he has been focused on the bond market for the past six months, why he expects a recession next year, what he thinks will happen to Treasurys and interest rates, and the psychology behind inflation. 

 Lastly, Jared details why he owns essentially no U.S. stocks and instead has his money in Argentine stocks. Plus, he describes another emerging market that presents a "huge opportunity" for investors. As he says, "There's other places in the world to go where there's a lot more growth that are a lot more promising." Don't miss his thoughts on the best way to get exposure to that potential growth story. 

On a week where markets roared back, the most expensive tuna ever was sold for $3.1 million, and the government shutdown officially became the third longest in history – and still with no end in sight – Dan Ferris number crunches some more historic milestones.

Because last week was Apple’s turn to suffer, Amazon is now the world’s largest company. Dan talks about how, once those companies both hit trillion-dollar valuations, something told him he was wrong. And while he got his readers out of Apple before the main meltdown, “I wish I had followed my gut.” 

Dan then introduces this week’s guest – Shane Parrish, the founder, curator and wisdom seeker behind Farnam Street. What started as a personal, anonymous blog where Shane could explore what others have discovered about decision making, purposeful living, and how the world works, quickly blossomed into one of the fastest growing websites in the world. 

With over a million page views, nearly 200,000 subscribers, consistently sold-out Re:Think workshops and over 3 million podcast downloads, Farnam Street has become the go-to resource that CEOs, athletes, professional coaches and entrepreneurs rely on to find signal in a world of noise. 

From his idea to take Warren Buffett’s style of investing and apply it on a macro-level – snapping up cash-gushing small businesses and capital efficient “Mom and Pop” stores – to his revolutionary thinking on “Mental Models,” Shane is full of insights on how to change your investing results through changing your thinking. 

As we start a new year, Dan is keeping up with his tradition of sharing his Top 10 Potential Surprises for 2021.

Could one of 2020's hottest stocks take a big hit? Could we see a massive correction in the entire market soon? Could Bitcoin continue on its current pace or is a crash imminent?

Dan covers these topics and more, sharing some huge surprises that would stun the investing world.

And just like last year, Dan plans on coming back to these surprises later in the year to check and see if any of them come to fruition.

Plus, Dan brings new guest onto the show, Christopher Mack. Chris works for investment management firm, Harding Loevner, where he started in 2004. Today he works as an analyst in Information Technology, a portfolio manager, Global Small Companies (Co-Lead), and as a Global Equity & World Equity Partner.

Dan and Chris have a long in-depth discussion on opportunities they see happening in the markets in 2021. Chris also shares some helpful insights to be aware of that he's learned in his experience working as a portfolio manager since 2004.

Chris even shares some of his favorite stocks, including two retail stocks that have niches outside of the Amazon ecosystem that could thrive in the coming years.

Listen to his discussion with Dan and more on this week's episode.

Interested in more from Stansberry Research? Check out the American Consequences podcast here: https://podfollow.com/americanconsequences

Gold and silver have soared higher and higher lately.

And many listeners are asking, "What happens to gold and silver next?"

But frankly, Dan thinks that's the wrong way to look at it. On this week's episode, Dan explains the mindset you should have about owning precious metals. 

He also sits down to have a conversation with Marty Fridson, the Chief Investment Officer at Lehman, Livian, and Fridson Advisors, an SEC registered investment advisor. Marty is one of the most widely-respected fixed income analyst around. In 2000, he was the youngest person ever to be inducted into the Fixed Income Analyst Society Hall of Fame.

Dan and Marty discuss what's happening in the high yield bond market, a massive market that people need to pay attention to, but sadly gets nowhere near the attention that equities do.

Listen to all this and more on this week’s new episode.

With so many Bitcoin holders enjoying huge profits, many are wondering if it's time to take some money off the table?

 Or hold tight before the final stage of this bull market?

 To settle this debate, Dan invites long-time friend and repeat guest, Eric Wade, back onto the show to take all things Bitcoin and cryptocurrency.

 Eric is an early internet entrepreneur, angel investor, screenwriter, and editor of Crypto Capital.

In a few short years, he's recommended dozens of 100%+ winners and even ten 1,000%+ winners. He knows more about the crypto space than just about anyone on the planet.

During their conversation, Dan and Eric discuss the big gold vs Bitcoin debate, where Eric sees Bitcoin's price in the years ahead, and even when's the right time to sell your stack.

Plus, Eric shared some details on a new project he's working on, which he plans to reveal on November 17th...

He'll be talking about the top 6 cryptos his research shows has the highest upside at this stage of the crypto cycle...

 You can get it 100% free of charge just for listening to his event. You can find more details at www.BitcoinBoomEvent.com.

Whether you've held Bitcoin for years, or if you're curious about the opportunity of getting in today, this is a conversation you won't want to miss.

On this week's episode of the Stansberry Investor Hour, Dan invites an incredibly special guest onto the show.

He's served as the Head of Investment Strategy and Due Dilligence for UBS...

And spent several years at Bloomberg, where he was Chief Investment Officer for Bloomberg's technology-driven wealth management business, Bloomberg Black...

 Today, he is the global investment strategist and head of investment strategy at ProShares, and he has insight into the markets that few can match...

Simeon Hyman joins Dan on the show to discuss everything that's going on in the markets today, plus how ProShares is developing products to help retail investors take advantage of major new investment trends and new opportunities. 

During their conversation, Dan and Simeon talk about the rise of passive investing... what's going on with the new meme stocks trend... and what changing interest rates mean for you and your holdings going forward...

 Simeon even shares some new ETFs that ProShares has developed to take advantage of new trends in the market, like a new momentum ETF (QQQA)... and an ETF designed to capitalize on the rise of online retail (ONLN). 

The two have a captivating conversation filled with tons of valuable insight from one of the most in-the-know investors on the planet.

Listen to Dan's conversation with Simeon, and much more, on this week's episode.

WeWork drama is on full display. From ultimatums coming from SoftBank to founder Adam Neumann’s multi-billion golden parachutes, Extreme Value Editor Dan Ferris unpacks it all in this week’s podcast. Our guest, Jason Goepfert stops by the pod to share his unique analysis that puts other investors’ emotions to work for you.