Explore every episode of the podcast Stansberry Investor Hour

In this week's Stansberry Investor Hour, Dan and Corey welcome Pieter Slegers back to the show. Pieter is the founder of Compounding Quality, an investment newsletter that boasts more than 507,000 subscribers.

Pieter kicks things off by discussing how AI and market momentum are doing well. However, he says that "classical" companies are currently struggling. He then talks about the need to have a tangible long-term goal in investing and shares his own investing goal and what it would do for his portfolio. And he explains the benefits of removing yourself from your normal environment to gain perspective and how to use that mindset for investing. (0:00)

Next, Pieter shares how he views AI and its impact on the companies that he analyzes. He also adds how he personally uses AI in stock research. Pieter stresses the importance of doing your own reading, both in investing and in your personal life. He says that this not only ensures that you don't miss any details in financial reports but also helps you find new investment ideas in unexpected places. (20:33)

Finally, Pieter details one company that he's excited about over the next 10 years. He found multiple reasons to love it, but after some skepticism, he drove to Germany to meet the CEO. The discussion solidified his optimism for the company. Pieter expressed how talking with the CEOs of smaller companies can provide some information that most people don't have. (39:43)

In this week's Stansberry Investor Hour, Dan and Corey welcome John Sviokla back to the show. John is an author, executive fellow at Harvard Business School, and co-founder of GAI Insights – an industry analyst firm that provides leaders with the strategies for successful AI integration.

John kicks things off by recapping his analysis on AI in the markets since he last spoke with Dan and Corey and sharing the changes that have occurred. He then discusses his focus on DEF 14As to gain insight into what's incentivizing management. He mentions that more CEOs have adopted AI usage – however, there are two main groups: the leaders who are advancing rapidly and the laggards who are making slow progress. And he shares the many variables that impact folks' finances today. (0:00)

Next, John expresses his desire for the funding of a public library for AI so users have a database to train their models. He also states that the U.S. has lost ground and intellectual property to China in the AI field and other areas due to companies wanting market access. And he says that using AI is something that needs to be experienced to see how useful it can be, especially with automation. (25:07)

Finally, John provides advice for parents who want to know what career opportunities are available for their kids. There are four areas that he thinks are most crucial in today's tech-driven world. John discusses robots in the tech industry and gives his praise for Waymo. He then reflects on the sectors that he's most interested in. And he believes that folks are wrong about AI being in a bubble – rather, he thinks that there's overinvestment in that area. (44:06)

On this week's Stansberry Investor Hour, Dan and Corey are joined by their colleague Gabe Marshank. Gabe is the editor of the new Market Maven newsletter, an advisory focused on asymmetric risk-versus-reward opportunities in the stock market. He's also senior analyst on Stansberry's Investment Advisory and Commodity Supercycles.

Gabe kicks things off by describing how he got his start in finance, including discovering the world of hedge funds and working for investing legends Leon Cooperman, Steve Cohen, and David Einhorn. He shares what he learned from each investor and how those lessons have affected his current strategy. Gabe also discusses how today's financial world has changed since the 20th century, why the idea of value investing from Benjamin Graham's era is outdated, bankruptcy being capitalism's greatest tool, and what the dot-com boom tells us about future AI success stories. (0:00)

Next, Gabe dives deep on Apple. He says the company has bungled its lead on agentic AI in phones, similar to how IBM fumbled its lead with PCs. As he points out, most of the top 10 stocks in the S&P 500 Index change each decade. So he's looking forward to finding what companies could replace today's big dogs. This leads Gabe to critique Microsoft and Amazon Web Services as "at risk," advise listeners not to worry about a potential AI market crash, and explain why he's looking outside of tech for opportunities today. (21:28)

Finally, Gabe says consumer discretionary would be a good sector to investigate for future winners, as it's likely to benefit from AI transformations. He emphasizes that AI does not just mean chatbots and large language models – it's machine learning, too. Industries like onshore oil drilling have been using that technology already to improve their efficiency. Gabe then closes the show out with a conversation about copper prices and the commodity industry as a whole. (38:18)

Dan and Corey kick off the show by discussing debt spirals, death spirals, their effect on 
things like GDP and economic growth, and the increasing reliance on debt spending. They
point out that the U.S. government's annual interest payment on debt will soon surpass the
budget for national defense. Dan also speculates that the government is using illegal
immigration as a means to depress wages. (0:41)
Next, crypto expert Eric Wade joins the conversation by discussing his current thoughts on
the crypto market as a whole. He notes that the U.S. just approved bitcoin spot ETFs, which
will allow investors to profit from bitcoin without actually holding the token. He also brings
up the bitcoin halving that's happening this April, AI's role in crypto, and how crypto is being
used to solve real-world problems. Eric briefly name-drops two such cryptos that have real-
world applications today. (22:08)After, he goes into detail on his new book called America vs. Americans: How Capitalism Has
Failed a Capitalist Nation and What We Can Do About It. This book focuses on American
"laborism," the shortcomings of our current capitalist system, and how all of this could be
improved. Eric describes that government, economics, and politics are a lot closer together
than they should be. He explores the history of capitalism and talks about the glaring flaws
of the economic system that preceded it – mercantilism. (35:30)
Eric then transitions into talking about laborism and how it could be an upgrade from
capitalism. He spends the rest of the episode detailing how it could pull millions of folks out
of poverty, why it would be so closely tied to education, and the fact it would call for a hard
currency and a smaller government with less government intervention. As he explains, it
could solve many of the country's problems. (42:35)

Dan and Corey begin the show by discussing evidence that we're still in a bear market. They bring up equal-weight indexes fizzling out since December, the now "Magnificent Six" tech stocks still dominating, and the possibility of a decade long sideways market. 

After, contrarian trader Jason Shapiro of digital publishing company Crowded Market Report joins the conversation and gives an overview of his trading style, his financial journey, and how his strategy differs from many other traders'. While others are looking to ride the trend, Jason explains that he's looking to "fade" it and find when the trend will turn. When speaking specifically about putting the risk-reward ratio in his favor over time, he says the discounting mechanism in the market is not price – it's participation.

This segues into a discussion about how Jason's process works. He gives advice to individual investors who are just starting out, including warning of the dangers of following trends and "copy trading." He also details how trading goes against human nature.

Then, Jason discusses automation in his field of work – when he uses it and when he ignores its advice – and provides some examples of his strategy in action. He emphasizes that market confirmation should always come first

Lastly, Jason explains why he's so adamant about sharing his approaches and techniques with everyday investors that they can't find in traditional financial media. And you won't want to miss Jason's answer to the final question... He shares what he believes is the real secret behind making money in the markets.

Dan and Corey kick things off by discussing Argentine President Javier Milei's incendiary speech at the recent World Economic Forum in Davos, Switzerland. They start by quoting some passages from it and covering the main themes – from the negative consequences of government intervention to potentially abolishing the central bank. After, they talk about why this type of rhetoric from a politician would never fly in the U.S., even though it reflects a lot of people's feelings.

Next, Stansberry Research Director of Research Matt Weinschenk joins the conversation and elaborates on what type of investor he considers himself to be. He brings up value investing, the importance of bottom-up business-quality analysis, and how he uses quantitative tools to find the best businesses.

Matt then explains the "Stansberry Score," which ranks nearly 5,000 stocks from first to last. It assigns each stock both an overall number and letter grade, plus letter grades for financials, capital efficiency, and valuation. Investors can use it to check ratings on stocks they may be interested in, or they can use it to find hidden gems. If you're interested in learning more about this tool and trying it for free, you can check it out at StansberryAnnouncement.com.

Matt also goes into detail on The Quant Portfolio. This new portfolio is fully optimized and uses Stansberry Score data to evaluate each stock. Entirely using computers and algorithms, it looks at the relationships between each stock and picks out the best ones that will work together to provide the highest returns. And so far, it's blowing the market out of the water! Matt emphasizes that in the past two years of live testing, The Quant Portfolio is up 20%, while the market is only up 5. 

Lastly, Matt talks all things econometrics – what it is, whether it's worth studying, and its interplay with machine learning.

Dan and Corey kick off the show by discussing car-rental company Hertz selling one-third of its electric-vehicle ("EV") fleet and planning to reinvest in gas-powered cars. They talk about the reasons for this move, why EVs might not be a popular choice as rentals, signs that oil and gas companies are still thriving, and how the green-energy transition could lead to higher inflation.  

Next, welcome Stansberry Research analyst Greg Diamond joins the conversation and analyzes the current volatility in the markets. He explains that investors and the financial media believe the Federal Reserve has beaten inflation and is going to start cutting rates soon. But as Greg notes, the opposite is most likely to happen. He also goes into detail on his study of cycles.  

Then, Greg predicts important inflection points for 2024, describes how legendary trader W.D. Gann influenced his trading strategy, and explores the potential ramifications of the Fed ending its bank lending program in March. He also details why he'll be trading sectors for the first half of the year rather than individual stocks. 

Lastly, Greg talks about correlations between the S&P 500 and specific exchange-traded funds. He assesses what it means for the markets when divergences happen and how extreme volatility leads to great buying opportunities. As Greg sums things up, "I think it's going to be a rough ride for bulls and bears."

Dan and Corey begin the show by discussing Disney. They cover the company's ongoing
proxy battle with Nelson Peltz, its recent deal with activist investor ValueAct Capital, the
negative impacts of its "wokeism," the new Star Wars director's controversial past
comments, and whether the stock is worth buying today. (0:40)

Next, Jeff Muhlenkamp joins the conversation and gives his reaction to a "surprising" 2023. 
Plus, he talks about what's in store for the markets this year, why it's unclear whether we're
headed for a recession or not since, and how you should structure your portfolio to protect
you no matter what happens. (26:23)

Then, Jeff explains what he learned from the great financial crisis in 2008 and how he applies
it to his investing strategy today. He gives investors advice on everything from keeping
some cash on hand to handling stocks that soar quickly. (35:40)

Lastly, Jeff discusses regional banking (44:00), two notable stock buys (46:47), and his
process for picking stocks (51:31). He details which metrics he looks at, why financial
newsletters are good places to look for ideas, and how to know when to exit a stock.

Dan Ferris and Corey McLaughlin kick the episode off by reviewing their list of Top 10
Potential Surprises from 2023 and seeing if any of the surprises materialized. Included in this
list was what could happen to the S&P 500 Index, meme stocks GameStop and AMC
Entertainment, inflation, bitcoin, mortgage rates, and gold. (0:32)

After, Dan and Corey share their new list of potential surprises for 2024... 
Magnificent Seven perform poorly (9:38)
S&P 500 negative annual return (13:16)
Rate cuts (15:58)
Gold hits $3,000 (19:15)
Bitcoin falls 50%-plus (24:04)
PCE at 4% (28:08)
Donald Trump presidency (31:51)
Nasty recession (37:27)
10-year yields above 4% (42:15)
S&P 500 drops 20% in a single day (44:52

On this week's special mailbag episode of Stansberry Investor Hour, Dan Ferris and Corey McLaughlin are answering some of the most interesting questions they've received in recent weeks from subscribers. They tackle everything that has been on your mind – and a few things that you probably haven't even considered. Dan and Corey kick things off with questions about whether the green-energy movement and threats to eliminate fossil fuels will boost the price of oil... the broken housing market in the U.S. and what it means for homebuilders... nuclear energy's potential as a big source of power in America... and where uranium prices are headed next based on the supply-and-demand picture. 

Next, Dan and Corey address a listener who hates that they let the cat out of the bag on the upside in farmland... and respond to another listener who wants them to talk more about specific stocks and less about the Federal Reserve. Plus, Dan and Corey answer questions about political correctness, the love of money being the root of all evil, how to profit from war, and why they prefer U.S. Treasurys to money-market funds. 

Finally, Dan and Corey discuss the threat the high national debt level poses for the U.S., the development of BRICS (Brazil, Russia, India, China, and South Africa) as a geopolitical and economic power, and whether the U.S. losing its world reserve currency status would really be such a bad thing.

Dan and Corey kick off the podcast by discussing 2023 as a whole. They talk about the Dow Jones Industrial Average hitting a new all-time high recently and investors looking forward to the Federal Reserve cutting rates. Plus, they go over what they're bullish on for 2024 – including homebuilders, bitcoin, and energy, among others.

Next, author and hedge-fund manager Hari Krishnan joins the podcast to discuss his toolbox of strategies for profiting after a market sell-off. He notes that there are times that are great for buying credit, while other times aren't so good. And the same principle applies to other areas of the market as well, like with volatility.

The conversation then shifts to how the average investor could utilize Hari's strategies. He gives a few examples of what to do in different scenarios. And he especially emphasizes the importance of having a plan. 

Further, Hari details how he assesses and categorizes risk. He describes why he looks at consistency across different asset classes and how this helps him find winning investments. Plus, Hari talks about the cycles of volatility, using equities as an example. He explains that risk taking drives the market upward, which leads to even more risk taking. It then becomes a vicious cycle that feeds on itself until it breaks.

Finally, Dan asks Hari for his opinions on the S&P 500 Index's recent rally. Hari brings up the fact that there are currently high levels of complacency in the markets, and he argues that now is a great time for investors to think about hedges for their portfolios. He finishes by urging investors to look beyond the U.S. stock market and to broaden their opportunities with other asset classes. 

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. 

Dan and Corey start by remembering Charlie Munger, reviewing his career and legacy. Plus, they cover Elon Musk's recent remarks against Disney, the chances of X (formerly known as Twitter) going bankrupt, and Musk's efforts to bring free speech to the platform. (0:40)

Next, Joel and Rob join the show to discuss the narrative around a soft landing, the rolling- recession "nonsense," and investors getting lulled into a false sense of confidence and believing everything is fine in the markets. Joel details the macroeconomic signals that are flashing globally – from China's failings dragging the world down to hyperinflation and recession in multiple Latin American countries. Joel explains why he and Rob have recently made a major change in their forward market outlook. (26:18)

Rob adds that another reason for their bearishness is the current credit environment. Credit is the lifeblood of the American economy. But now, it's disappearing. And according to Rob, that will further hurt economic growth. Plus, Joel explains that this same setup happened at the beginning of the great financial crisis. (34:21)

The conversation then shifts to Fed Chair Jerome Powell's devotion to lowering inflation to 2%, the reality of "structurally higher" inflation, and how high interest rates are leading to massive investing opportunities in near-term cash-flow companies. (38:37)

Finally, Joel and Rob discuss the bond market and why they find it so attractive today... give their opinions on "terrifying" business development companies... and analyze the Fed's next moves in regard to unemployment. (46:18)

On this week's Stansberry Investor Hour, Dan and Corey are joined by Eric Fry. Eric is the editor of multiple newsletters at our corporate affiliate InvestorPlace, including Fry's Investment Report and The Speculator. 

Eric kicks off the show by discussing his time working alongside legendary financial publisher Jim Grant and his top-down approach to investing. His strategy involves finding industry leaders that have fallen on hard times but still have favorable underlying dynamics. Eric says that with this method, he has collected 100%-plus gains in the past few years in companies like Amazon and Corning. He also talks about investing in foreign stocks, the unbalanced risk in microcaps that many investors don't consider, and three industries he stays away from. (0:00)

Next, Eric shares his time horizon for investing, whether he recommends adding to existing winners, his past experience with bitcoin, and the advice he gives his subscribers on position sizing and risk management. He notes that investors will often overstate their risk tolerance and understate their investment goals, which can cause problems. This leads to a conversation about the advantages of long-dated options versus short-term options. (20:39)

Finally, Eric breaks the world of AI investment down into four groups: builders, enablers, appliers, and survivors. He says most of his current investment ideas are focused on the survivor category – and he names three such stocks he likes today. This includes a for-profit thrift-store chain, an English beverage company with rising U.S. sales, and an international food-delivery company that just became profitable. (40:03)

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 this week's Stansberry Investor Hour, Dan and Corey welcome Porter Stansberry back to the show. Porter founded Stansberry Research in 1999, and he recently returned as CEO and chairman of parent company MarketWise (MKTW). With more than 25 years of experience as a financial analyst and publisher to draw on, Porter shares his opinions on the current state of the markets and which areas of the economy look most attractive today.But first, Dan and Corey talk about investors' unfounded hopes for falling interest rates and some Wall Street analysts predicting that the Federal Reserve will soon cut rates by 150 basis points. "I just don't see that happening," Corey says. Afterward, the conversation shifts to the bond market, the drop in demand for U.S. Treasurys, China "imploding minute by minute," and the biggest "turkeys" who have made the most absurd financial decisions this year. Plus, Dan explores investor psychology and how it has been warped by a decade-plus of low rates and the longest bull market in history. (0:00)

Porter then joins the show and discusses why Ayn Rand's 1957 book Atlas Shrugged continues to be relevant today, General Motors' chances of going bankrupt again, and his "new, old" job as CEO of MarketWise. He explains his strategy for the company going forward. (25:08)

Moving on to the broader economy, Porter shares an updated prediction of what he sees
coming for the market. In mid-September, he was concerned we were on the cusp of another major financial crisis. But now he thinks the immediate danger may be past. (42:34) 

Porter also shares that most quality businesses out there trade for high valuations, but those
with unrecognized quality still present fantastic buying opportunities today. Even companies
that have recently made negative headlines can still have incredible underlying value.(48:48)

Finally, Porter details what's happening in the bond market right now and why he believes it's worth investing in. And you won't want to miss his parting message, where he explains why it's a great time to be alive despite any global issues or societal problems. "Most investors make the mistake of not being optimistic enough," he says. (57:35)

On this week's Stansberry Investor Hour, Dan and Corey are joined by Marc Chaikin. After 50 years working on Wall Street, Marc founded our corporate affiliate – Chaikin Analytics – to guide everyday investors. Marc starts by describing how his Power Gauge helps investors identify stocks, excel in timing investments, and most importantly, prevent portfolio losses. "No matter how good your fundamental research is or quant model [is], if the market doesn't agree with you, guess who wins? The market always wins; you're investing in what I call "dead money," he states.

Then, Marc explores 2023 being a difficult year for bearish investors, the likelihood of a recession, and how artificial intelligence ("AI") has led to unprecedented productivity enhancements. "That's where this whole convergence of technology, data, and machine learning
comes in. I think it's going to unleash unbelievable advances in medicine, data analytics for retail, and self-driving cars eventually," he asserts.

Finally, Marc shares his thoughts on today's market, including the "Magnificent Seven" stocks, the U.S. national debt, the real estate sector, and 10-year Treasury yields. He explains that he and many other leading investors are bullish on stocks, but the media prefers doom-and-gloom headlines for clicks. "They just don't want to put optimists on TV because it's not controversial," he concludes.

On this week's Stansberry Investor Hour, Dan and Corey are joined by David Cervantes, principal and founder of Pinebrook Capital Management. David shares his groundbreaking thesis that could transform not only health care but also the broader economy. But first, Dan and Corey discuss disgraced FTX founder Sam Bankman-Fried being found guilty of fraud, coworking-space company WeWork's impending bankruptcy, and fluctuating Treasury yields. (00:48)

Next, David joins the conversation to detail the far-reaching consequences of obesity, plus the potential impact of new weight-loss drugs on the economy. He notes that obesity not only places a significant financial burden on the health care system but also hampers overall productivity and gross domestic product ("GDP") growth rates. However, David clarifies that GLP-1 (or glucagon-like peptide 1) drugs have the potential to revolutionize obesity treatment. (26:28)

David then explores the potential winners and losers of this medical innovation. He stresses that it's not too late to make money off the drug manufacturers since there are plenty of companies developing and trying to improve these weight-loss drugs right now. He also touches on other sectors that will benefit from mass weight loss. (41:45)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Rudi Fronk, chairman, CEO, and co-founder of Seabridge Gold (SA). But first, Dan and Corey kick off the podcast by discussing the latest numbers for gross domestic product ("GDP") and the core personal consumption expenditures price index. Then, they also explore what they think the Federal Reserve will do next and what will happen to the stock market. (00:41)

Next, Rudi joins the show to chat about Seabridge Gold, the outlook for the gold market, and risk within the industry. Rudi emphasizes that Seabridge is not a mining company, and it instead partners with major mining companies to co-develop assets while retaining around 40% to 49% interest in projects. (16:21)

He believes the current challenges in the Treasury market as well as hedge funds using leverage to accumulate positions will ultimately drive gold prices to new heights. Rudi boldly predicts that gold will surpass its previous all-time high of approximately $2,063 an ounce by the end of this year. Moreover, he details why he foresees gold's price surging to multiples of its current value over the next few years. (24:26)

Rudi concludes by explaining why it's so difficult for mining companies to turn a profit and why so many of them never get any dollars out of the ground. "I don't have a high respect for most of my industry," he says simply. If you're interested in investing in the gold industry or just want to know more about it, don't miss this week's show. (36:32)

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In this week's Stansberry Investor Hour, Dan and Corey welcome geopolitical strategist and critically acclaimed author Peter Zeihan back to the show. But first, reporting live from the conference, Dan and Corey share their insights from this valuable event for subscribers. They offer a recap of the presentations delivered by notable figures, including Stansberry Research founder Porter Stansberry, legendary cyclist Lance Armstrong, and respected financial writer Morgan Housel. (:41)

Then Peter joins the show to dissect the ongoing Ukraine situation and other geopolitical conflicts dominating the headlines. Peter discusses Israel's strategic shift from being a technology consumer to a producer, saying "Israelis, almost to a Chinese scale, were stealing tech... and so they decided to go in the business of making tech." Dan and Peter also explore investment prospects in Israel, what a peace treaty between Saudi Arabia and Israel would mean, how Iran could disrupt the peace process, and incompetence in the Israeli government. (16:50)

Finally, Dan and Peter shift their focus to China. The nation is undergoing dramatic shifts in demographics and experiencing a severe population decline, which has profound implications for the nation's future. Peter predicts that China will cease to exist as a unified industrialized nation within the next decade. (36:18)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Michael "Mike" Green. Mike is the chief strategist and portfolio manager of Simplify Asset Management – an investment advisory firm. He has spent nearly 30 years studying markets and market structures, and he brings his decades of insight to today's show.

But first, Dan and Corey discuss the evolving landscape of the bond market, the opportunity in Treasury bills, and the potential impact of high bond yields on the broader investment world. Corey warns...

Take advantage of it now, because if the economy goes in the crapper in the future, the [bond] rates are going to go down when the Fed cuts [interest] rates.

Mike then joins the conversation to delve into the world of passive investing, which involves never transacting and only ever holding assets. This leads to a strategy of mindless buying:

[The stock market is] marching upwards, being led by a very few number of extremely large-cap stocks that have relatively limited growth prospects... In real terms, PepsiCo's sales are down over the last decade. This is true for companies like Apple where their sales growth, since the introduction of the iPhone 5, [is] stagnant... certainly not justifying the types of valuations that we see.

Finally, Mike details how the Federal Reserve can influence the markets with interest rates, and in turn how interest rates can affect passive investing. Moreover, he highlights the unique opportunity in the bond market and explains why bonds are an attractive option for investors.

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In this week's episode of Stansberry Investor Hour, Dan and Corey welcome Harris "Kuppy" Kupperman back to the show. But first, Dan and Corey discuss the surprising employment numbers that exceeded expectations and fueled speculation about further interest-rate hikes. They also cover the turbulence in the bond market and the significance of the yield curve finally correcting after more than 18 months of inversion. (00:41)

Next, Kuppy joins the show to express his skepticism about the widespread belief that the world can revert to "normalcy," that interest rates will decline, and that another bull market will kick off. Instead, he explains why he thinks there will be significant changes in the next couple of years while "everyone's playing the old playbook." (20:22)

Kuppy also gives his take on the overall economy, addressing sectors with inflationary correlations. He describes his outlook on inflation as a series of sine waves, with periodic fluctuations of heating up or cooling down. However, he focuses on the overarching trend of upward inflation and predicts that it will surpass previous highs in the coming years. (31:24)

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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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On this week's Stansberry Investor Hour, Dan and Corey are joined by Joel Litman, the founder of our corporate affiliate Altimetry. But first, Dan and Corey kick off the podcast by discussing the latest Federal Reserve meeting, a recent study about what happens to stock price when artificial intelligence ("AI") gives answers at earnings calls instead of humans, and the emergence of a robot CEO for a rum company. (00:00)

Next, Joel joins the conversation and gives the reasons for his growing bearish sentiment. He points out some significant red flags that have caught his and his fellow analysts' attention, including the historical pattern of a credit crisis preceding every major bear market. Joel explains that the current sentiment and valuation trends are heading in the wrong direction. (16:42)

Joel then moves on to the impact of high interest rates on the market. He explains that he and the folks at Altimetry employ "Uniform Accounting" principles, meaning they do not use the same price-to-earnings multiples as Bloomberg or CNBC. Instead, they perform their own calculations. Joel argues that, to control inflation, interest rates need to be maintained at a level higher than what Fed Chair Jerome Powell seems to favor. (20:56)

Finally, Joel discusses U.S. stocks being overallocated in investors' portfolios today and why this serves as a concerning indicator of market conditions. Plus, looking globally, he details why he finds Chinese and Russian stocks unattractive for investment. (37:36)

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On this week's Stansberry Investor Hour, Dan and Corey welcome their colleague Whitney Tilson back to the show. Whitney is the editor of multiple newsletters at Stansberry Research, including our flagship Stansberry's Investment Advisory, Commodity Supercycles, and the free Whitney Tilson's Daily.

Whitney kicks things off by discussing how he became a "make money" investor, his simple method for picking winning stocks, and a few lessons he has learned from decades in the market. He advises listeners to let their winners run and to hold them for a long period of time, as that's the only way to outperform index funds. Whitney also shares the story of missing out on Netflix's 100-bagger gains, makes a bullish case for Salesforce, and gives his thoughts on particular players in the AI space, such as Palantir Technologies. (0:00)

Next, Whitney talks about the cannabis stock bubble, scam Chinese stocks, and why he's "pounding the table" on Alphabet and Meta Platforms. Using Adobe as an example, he tells listeners to start considering how AI will affect existing businesses and their share prices, especially if it's in negative ways. Plus, he goes in depth on index funds – their benefits, how his strategy has shifted to include market-cap-neutral funds, and which funds he likes today. (22:28)

Finally, Whitney explains the power of compounding and discusses the opportunity today in clothing maker Lululemon. Despite "really struggling with" the stock, he believes it could be a big winner down the line. The secret, Whitney says, is finding good companies with headwinds that knock the stock way down but that are temporary. And to close the show out, Whitney covers the pitfalls of short selling, why you should never bet against companies that make products people love, and his most speculative stock idea today. (41:59)

On this week's Stansberry Investor Hour, Dan and Corey are joined by Stansberry colleague Greg Diamond the editor of Ten Stock Trader, a trading service based on technical analysis. Dan and Corey cover the European Central Bank raising its rates to a multidecade high, inflation "killing people on Main Street" who are racking up credit-card debt, and poverty levels rising. (00:41)

Next, Greg joins the conversation by talking about his overall perspective on the market. He explains why he thinks "2024 is going to be a trader's market" despite believing that huge uptrends will come to an end. And he says banks will play a crucial role in determining overall market health (18:03)

Regardless of these concerns, Greg maintains a bullish sentiment as long as the existing upward trend remains intact. "It's not time to sell yet," he emphasizes. He then proceeds to share his insights on the Fed, highlighting its inherently political nature and its susceptibility to political influence.  (30:53)

Finally, Greg discusses his primary objective when determining whether a market is poised to rise or fall. To leverage his positions, he frequently embraces higher risk levels but carefully optimizes his trading advantage in other ways. (40:14)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by two of their Stansberry Research colleagues, Matt McCall and Brett Eversole. But first, Dan and Corey kick off the podcast by discussing three famous investors who all made headlines recently for giving negative future market outlooks. 

Brett and Matt join the conversation by talking about why they're bullish right now. Matt notes that the reason 2022 was so brutal for investors was because of the Federal Reserve rapidly raising interest rates. While one more small rate hike before the year's end is possible, Matt still thinks the rate cycle is nearly over. This would, in turn, be good for equities and move the markets higher.

Then, Brett shares some of his AI-industry favorites... and notes that the market as a whole has the potential to massively increase productivity, leading to increased margins. Specifically, Brett believes there's a structural change happening in the companies that make up the stock market.

Finally, Brett and Matt talk briefly about housing supply and homebuilders before launching into the energy sector. Brett emphasizes that while there's a push for green energy, we're going to need fossil fuels for a very long time. Plus, Matt highlights the problem of many renewable-energy projects being completely built but unable to get onto the energy grid because the grid is so old.

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This week in Stansberry Investor Hour, Dan and Corey are joined by their Stansberry Research colleague, Bryan Beach. Bryan is the editor of Stansberry Venture Value, which is Stansberry's small-cap value newsletter. Dan and Corey kick off the podcast by dissecting the latest in the market, starting with the recent Republican political debate and Federal Reserve Chair Jerome Powell's presence in Jackson Hole, Wyoming. (00:00)

Bryan then joins the conversation to break down his value-investment approach. This approach extends across industries and is guided by the pursuit of "value nuggets." One of Bryan's central investing tenets involves identifying companies that have experienced significant declines in value. And right now, the Software as a Service ("SaaS") space is a prime example of such undervaluation. (20:53)

The conversation then shifts to Bryan's previous role as an accountant. He recalls Wall Street's historical inclination toward upfront software-purchase models, which encompassed future maintenance packages and fees. But Salesforce changed all that in the early 2010s by reshaping the software landscape. The transition toward the SaaS model gained remarkable traction between 2015 and 2021. (27:50)

More recently, SaaS companies have experienced a downturn in popularity. But Bryan sees this as an opportunity. Bryan and Dan go into how if Warren Buffett were a young investor today, he would likely be captivated by the software sector. The two draw connections between Buffett's historical interest in newspapers and the appeal of software business today. Bryan highlights their affordability and upward momentum, making them prime investment candidates. (46:00)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Keith Weiner. He's the founder and CEO of Monetary Metals, a gold investment firm. But first, Dan and Corey kick off the podcast by discussing the potential implications of stress in the bond market, and how bond yields have been showing signs of movement. Plus, they highlight that the yield curve could be signaling a recession sign. (00:00)

Next, Keith joins the conversation by sharing his beliefs on gold and the world's monetary system. He starts with his "origin story," describing how he founded and then sold a successful software company. Then Keith and Dan shift gears to dive into the current state of the economy. With three of the largest bank failures in history this year and the U.S.'s credit being downgraded recently, they discuss how this may be affecting people's attitudes toward gold. (18:34)

Finally, Keith goes on to share his insights on the debate of gold versus bitcoin. He emphasizes that gold's stability and millennia-long history of wealth preservation give it an edge over any cryptocurrency. While bitcoin has seen speculation and massive price fluctuations, gold's enduring stability makes it an attractive choice for conservative savers, even in times of economic uncertainty. (40:53)

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On this week's Stansberry Investor Hour, Dan and Corey welcome Artem Milinchuk to the show. He's the founder and Head of Strategy for FarmTogether. First, Dan and Corey kick off the podcast by discussing the last CPI and PPI reports. While the CPI reading came in at 3.2% inflation, certain components within the CPI are much higher. Inflation is still here, and now it's just a matter of what direction it goes and what the Federal Reserve does next. (00:00)

Next, Artem joins the conversation to share the benefits of farmland investments. Farmland boasts comparatively lower volatility than stocks, real estate, gold, and other asset classes. Artem highlights that the charm of farmland lies not only in its resilience during inflationary and recessionary periods but also in its capacity to diversify portfolios. (16:15)

The discussion shifts to the impact of elevated prices and interest rates on farmland investments. Artem provides insights into the broader farmland market, revealing that a significant majority (98%) of farmland is currently family-owned. He anticipates substantial changes in ownership over the next two decades, with the U.S. Department of Agriculture projecting a transformation of up to two-thirds of farmland. (24:00)

Artem shares his extensive experience investing in farmland on behalf of others since 1992, achieving impressive returns of approximately 10.5%. He concludes by drawing a noteworthy comparison between farmland investing and U.S. Treasuries, highlighting farmland's potential as a robust hedge against inflation. (44:57)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Patrick Yip, director of business development at the American Precious Metals Exchange ("APMEX"). Dan and Corey kick off the podcast by discussing the latest news surrounding their skepticism of the U.S.'s credit downgrade and discuss the recent jobs report and the implications of unemployment levels reaching a historic low. (00:43)

Then, Patrick joins the conversation to talk about the silver and gold markets and their respective prices. He notes that there's almost a lack of interest in precious metals right now, which has led to them being undervalued. Patrick believes that a recession would give them the chance to appreciate significantly in the coming years. (19:40)

With regards to the role of the U.S. dollar as a global reserve currency, Patrick raises concerns about the dollar being weaponized for political agendas. This would prompt investors to seek refuge in gold and silver. Yip also delves into the nuances of choosing between coins, bars, and rounds in the precious metals market. And he offers practical advice for investors based on their individual preferences and investment goals. (38:46)

Then, Dan asks Patrick about the idea of minting a trillion-dollar platinum coin as a way to avert the debt ceiling... To hear Patrick's opinion on whether this proposal would work and what would happen to the price of precious metals if the government were to mint such a coin, check out today's podcast. (52:40)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by an anonymous guest referred to as "Doomberg." Dan and Corey kick off the podcast by discussing the likelihood that the Federal Reserve will keep raising interest rates. Corey mentions that Chairman Jerome Powell let some "subliminal thoughts" on inflation slip, hinting at what the Fed may be planning from here. (00:00)

Next, Doomberg joins the conversation to discuss why he and the rest of his team have decided to remain anonymous and shares his thoughts on Ontario's energy-strategy document and how the province is far ahead of the U.S. in its energy journey. (19:15)

Doomberg then discusses his take on climate change. He mentions that he's bullish on the human spirit and the ingenuity required to fight climate change. That said, he believes it's unfair to minimize the impact that modern human development has had on the environment. The state of industrial pollution, for example – especially in China – is a real-world scandal. (29:50)

Finally, Doomberg concludes with the prospect of a gold-backed currency and nuclear power. He and Dan discuss the ongoing anti-nuclear propaganda and the need to reevaluate the public perception of nuclear energy as a viable and safe solution to climate change. (45:53)

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On this week's Stansberry Investor Hour, investing veteran Rick Rule returns to the show. Rick is president and CEO of Rule Investment Media and a director at Sprott. He joins Dan and Corey to talk about the trend of global electrification and all things copper. (00:00)

Dan and Corey kick off the podcast by discussing a crucial topic – the global net-zero-emissions target set by institutions, corporations, and governments. To achieve this ambitious goal by 2050, there will need to be an increase in green-power generation and electric vehicles. A significant rise in demand for this essential resource would lead to higher copper prices. (00:48)

Rick then joins the conversation to share his profound insights on the electrification of the world. The copper talk continues, with Rick passionately emphasizing that achieving net-zero emissions is an inevitable and vital goal. Dan raises pertinent questions about copper production's inability to keep pace with demand. (22:07)

Then, Dan and Rick cover the two major copper-producing nations that have been at the forefront of meeting this demand... Chile and Peru. While Chile's mining industry is threatened by shifting political priorities, Peru grapples with the influence of nongovernmental organizations. (43:18)

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On this week's Stansberry Investor Hour, Dan and Corey welcome frequent guest Marko Papic back to the show. Marko is a partner and chief strategist for asset-management platform Clocktower. Together, they tackle the shifting landscape of globalization, the dominance of the U.S. dollar, and investment opportunities in emerging markets. (00:00)

Dan and Corey kick off the podcast by discussing the perplexing issue of the U.S. government "losing money while making money." They explore the implications of this inefficiency and its connection to the broader topics of inflation, recent Consumer Price Index data, and the Federal Reserve's monetary policies. (00:41)

Then, Marko joins the conversation to share his thoughts on multipolarity, or the distribution of power among several countries. Despite the rise of emerging markets and the global shift toward multipolarity, the U.S. dollar remains the predominant currency worldwide. Marko believes "the dollar will continue to have stickiness as a predominant currency," but he predicts a steep decline within the next year." (28:07)

Marko concludes by highlighting that investors can still profit by adopting a longer-term perspective that considers geopolitical and macroeconomic trends. He suggests keeping an eye on economies with favorable prospects, such as Indonesia's control of the Nickel market, Vietnam's vital role in global trade, and Mexico's refrain from fiscal stimulus packages. (45:57)

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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)

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Kevin Duffy. Kevin is the founder and editor of The Coffee Can Portfolio newsletter. He's also co-founder and principal of the investment-management firm Bearing Asset Management.

Kevin kicks off the show by talking about The Coffee Can Portfolio, the investors who have inspired his work, and his outlook on some long-term secular trends, including fiat currencies. He explains that most trends today harken back to the American Revolution, as that was when centralization really began in the U.S. Kevin walks listeners through several key points in history that got us to where we are today. Plus, he explores the false beliefs of the dot-com boom, the market's current euphoria around AI, and the obvious threat to Nvidia that many investors are overlooking. (0:42)

Next, Kevin dives deep on China. He discusses what he has learned by studying the country's stock market, why he's bullish on Chinese stocks, and the 50% discount that these stocks offer. Using Japan as an example, Kevin advises listeners to always question the popular economic narrative, as it can be completely wrong, especially at the end of major manias. He says the biggest culprits behind China's negative narrative today are the U.S. government and misplaced anger over worsening living standards. (18:45)

Finally, Kevin talks about the flaws in modern economics and financial logic, the importance of educating oneself on economics and learning from past mistakes, and the future consequences of the U.S. isolating itself while the rest of the world comes together. He says there are still some stock opportunities in the U.S., but the best opportunities are in Asia. (37:14)

On this week's Stansberry Investor Hour, Dan and Corey are joined by equity analyst John Zolidis. He's the president and founder of Quo Vadis Capital, which provides research for both professional money managers and individual investors, specifically in the retail and restaurant sectors. 

Dan and Corey kick off the podcast by discussing what they're bullish on – what they like, what they want to buy, and what they're buying. Corey expresses optimism in U.S. stocks, citing their recovery and global financial leadership as "the best house in a bad neighborhood." Dan shares his optimism for the housing sector, highlighting historically low inventory levels. (00:41)

Then, John joins the conversation to share his perspective on the possibility of beating the market and overcoming cognitive biases in investing. He brings up "the wise-man problem," referring to the cognitive bias that arises from an individual's belief that they have seen and understood all market situations based on past experiences. (19:41)

John challenges the belief that outperforming the market is impossible, citing the importance of understanding companies and long-term prospects. John emphasizes the need to align investments with financial goals and avoid short-term performance targets influenced by media hype. He believes a longer-term perspective is the key to gaining an edge as an individual investor. (39:23)

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In this special mailbag episode of Stansberry Investor Hour, Dan and Corey delve into a wide
range of questions from their audience. They shed light on prevailing market sentiments and
offer valuable advice. But first, Dan debriefs Corey on his recent trip to Vail, Colorado for the
VALUEx conference

This is a valuable conversation on investor sentiment that you won't want to miss. And it
even provides insights that will help guide investors seeking to navigate the ever-changing
financial landscape. Keep sending your thoughts and questions to
feedback@investorhour.com and let us know what's on your mind!

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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."

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In this week's Stansberry Investor Hour podcast, Dan and Corey are joined by Enrique Abeyta, an analyst from Empire Financial Research. Enrique shares his insights on investing and offers stock advice through his newsletters. The discussion starts with the recent lawsuits filed by the SEC against Coinbase Global and Binance for offering securities without proper licenses. Enrique then talks about his mosaic approach to investing, which involves analyzing various data points and perspectives. The conversation also covers the impact of technology on asset management and newsletters, the value versus growth investing debate, and Enrique's views on the banking industry.

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In this week's Stansberry Investor Hour, Dan and Corey are joined by Jeff Phillips. He's a well-respected expert in the resource and mining industries and president of Global Market Development. With more than 20 years of experience consulting with Fortune 500 companies and government agencies, Jeff is one of the most trusted names in his field. Now, he's giving us an exclusive look into his "highly speculative" approach to investing.
 
But first, Dan and Corey discuss the recent impressive U.S. employment numbers and their potential impact on interest rates. According to Dan, "It ain't looking like a recession anymore." After that, Dan and Corey examine the burgeoning artificial-intelligence ("AI") bubble – highlighting Nvidia's recent run, its continued growth, and its varying effects on different professions and sectors. 

Then, Jeff joins the conversation to talk about his unique approach to speculation. Jeff shares his belief that the financial markets are facing a significant problem and are on the verge of a substantial decline in asset valuations. However, amid this cautionary note, Jeff highlights the potential for exceptional growth in speculative natural resource stocks. He thinks they're a promising investment in an otherwise uncertain market landscape...

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Alfonso "Alf" Peccatiello. He's the founder and CEO of disruptive investment-strategy firm The Macro Compass. His company provides educational macroeconomic analysis and professional portfolio strategies to bridge the gap between Wall Street and everyday investors. And Alf brings those same skills to the podcast by simplifying complex topics for our listeners.

Dan and Corey begin the episode by talking about chipmaker Nvidia. Its recent earnings report sent shares soaring and prompted one of the biggest moves in U.S. stock market history by market cap. Part of the reason for that big move was the company projecting a huge increase in sales next quarter. The chips that Nvidia makes will help with the coming artificial-intelligence revolution, so investors are buying in hand over fist. However, Dan and Corey question whether the company is worth these high valuations.

Alf then joins the conversation to discuss the debt ceiling. He predicts that U.S. politicians will probably reach a deal to raise it... but he also analyzes the magnitude and severity of damage to economic growth that a default would bring. Alf further explains that he believes Republican Party members are using time to their advantage to try to get the best out of the deal, since the Democrats took more time to start negotiations. Regardless of what happens with the deal, he warns... Investors must always have attackers and defenders in their portfolio.

Next, Alf mentions the Federal Reserve's aggressive rate hikes and how those have caused U.S. stocks to remain relatively expensive. But even with this poor outlook for U.S. stocks, he points out that you can still find "attackers" in Japanese stocks. With the country's nominal growth picking up, wages rising over 4%, and the new Bank of Japan governor not rushing to raise interest rates, Japanese equities are reasonably valued and poised for growth.

Lastly, Alf and Dan revisit March's banking meltdown. Alf notes that loose regulations led to terrible risk management, but he argues that the rest of the banking industry will not be affected much. Now, though, the second part of the problem is exposure to commercial real estate, credit quality, and the asset quality of bank loans. In short, the banking system is deteriorating. Tune in to hear Alf and Dan's take on what's coming next so you can prepare yourself for this slow-moving train wreck.

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.

In the latest episode of Stansberry Investor Hour, Dan and Corey welcome Bob Elliott to the show. Bob is the co-founder, CEO, and chief information officer of Unlimited, a firm that uses machine learning to create products that replicate index returns. Bob drops in to share his valuable perspective on inflation intricacies and supply-chain issues. 

But first, Dan and Corey address the unique challenges the housing market is facing right now... particularly how homeowners are holding on to their properties due to historically low mortgage rates. While advantageous for homeowners, this trend has reduced housing supply and subsequently driven prices upward.

Bob Elliott then joins the conversation to provide his insights on the current state of the Consumer Price Index. He highlights the underlying inflation in the economy, which is closely tied to wages and service prices, resulting in a stable inflation rate of 5%. He explains...

"Once we started to get a flattening out of oil prices... and used auto prices... those going from falling to flat has a positive pressure on inflation."

Bob also delves into the gradual nature of housing cycles and the dynamics of the housing market throughout and following the pandemic.

"That's the nature of these cycles... They don't progress rapidly. They aren't the kind of force that will drastically alter the Federal Reserve's outlook within the next three months."

Bob explains that numerous structural and tactical factors influence these cycles. However, as input costs decrease, construction activity is expected to increase, which will eventually stimulate economic growth.

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On this week's Stansberry Investor Hour, Dan and Corey are joined by Chris Igou. Chris is a fellow Stansberry Research analyst and the editor of DailyWealth Trader, a daily trading advisory. But first, Dan and Corey argue that banking regulations "hand the incumbents an advantage" and restrict competition. According to Dan, consolidation in the banking industry – like JPMorgan Chase's recent takeover of First Republic Bank – can create backstop and incentive issues. Dan also shares his belief that interest rates will remain higher than expected for longer, despite the market consensus for the Federal Reserve to cut rates.
 
Then, Chris joins the conversation to discuss his trading style and macroeconomic outlook for the market. He shares how the Fed's rate hikes are increasing the cost of borrowing and squeezing earnings, leading to smaller profit margins. Chris also notes that the S&P 500 Index's most significant drawdown in this current bear market has been 25%. That number is relatively normal for a bear market, since the average drop during a recession is typically around 40% from peak to trough. He explains...
 
"We've got some time where credit is going to be tight and unemployment is still at 3.5%... Historically, you just don't bottom there."
 
Finally, the trio analyzes previous false bear market rallies that would get investors excited and optimistic before hitting a sudden downturn. Chris warns that the same could happen this time around. He cites the bear markets of 2000, 2008, and 2020 as examples and shares that he expects more pain in the coming months based on historical patterns.

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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.

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On this week's Stansberry Investor Hour, Dan and Corey welcome Marc Chaikin back to the show. Marc is the founder of our corporate affiliate Chaikin Analytics and a market veteran of more than 50 years.

Marc kicks off the show by explaining why he's bullish through the first quarter of next year, the implications behind a Federal Reserve rate-cutting cycle, the opportunity today in homebuilders and biotech, and what's happening in the bond market with the "bond vigilantes." He breaks down the three factors driving the market right now and lists a few "less obvious" sectors and companies that are benefiting from these factors. (1:04)

Next, Marc discusses his Power Gauge system and how it gives you an inside look into what folks on Wall Street are doing. After, he delves into how the current AI boom resembles the dot-com boom, a "mini bubble in the making" for data-management company Oracle, and China being behind gold's soaring price. Using the Power Gauge in real time, Marc gives listeners several gold-mining and construction stocks that are rated bullish by his system. (18:31)

Finally, Marc reminds listeners that small caps were the real winners when the dot-com bubble burst, so that could happen again when the AI bubble inevitably bursts. This leads to a conversation about the late investment adviser Marty Zweig and his timeless advice for investors. Then, to close the show out, Marc speaks about the significance of this leg of the bull market being fueled by capital spending rather than customers... millennials investing in stocks... and fundamentals not mattering for younger investors. (36:39)

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.

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In this week's episode of the Stansberry Investor Hour, Dan welcomes back Mike McGlone, a Senior Commodities strategist for Bloomberg Intelligence with over 25 years of experience in the industry. Mike shares his insights on the direction of US agriculture, the possibility of liquidity collapsing, and the current bear market rally.

Prior to the interview, Dan and Corey discuss the escalating tensions between Taiwan and China. They mention how due to these geopolitical concerns, Warren Buffet recently sold 86% of his position in Taiwan Semiconductor Company (NYSE: TSM). However, Buffet's move into Japanese investments, which he currently owns about 7.4% of, is consistent with his belief in America's resilience. Dan notes that he won't necessarily follow Buffet's lead, but it's still interesting to see what he does.

"This could be the greatest economic reset of our lifetime."

Then, Dan introduces Mike, and the two break down how the S&P 500 and bond market both suffered significant corrections last year due to the Federal Reserve raising rates too much and too late. As we tilt towards a significant recession, and the Fed continues to tighten, time will show if bonds will be some of the best assets. 

Mike and Dan then delve into various commodities, including natural gas, gold, and crude oil. They highlight how gold may become a more attractive investment option in the near future, with the stock market reaching its most expensive level compared to GDP, sales, and housing, and the Fed tightening into a deflationary period.

Finally, Mike highlights how electrification, de-carbonization, and digitalization are all bullish for copper, but it's not as easy to increase copper supplies as it used to be. With copper reaching an all-time high in 2022, it's a clear indication of where we're headed in the future.

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In this episode of the Stansberry Investor Hour, Tobias Carlisle discusses the current investment landscape and how many value investors have shifted their focus to growth stocks. 

Prior to the interview, Dan discusses the concept of "Mr. Market" versus the "smart money". He cites a quote from Benjamin Graham's book Security Analysis, where he states that the stock market is a voting machine in the short term and a weighing machine in the long term. While this may be true for some companies, Dan suggests that there are many whose value doesn't change nearly as much as the stock market suggests, citing periods of sideways movement in the stock market as examples.

Then Dan and Tobias delve into the energy sector, noting the challenges of transitioning to EVs and solar. Tobias emphasizes the limitations of nuclear energy and the challenges of investing in the financial and banking sector. He prefers investing in businesses that are in a more broken-down state and cites coal companies as an example.

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