Small-Cap Mining Stocks, Big-Time Opportunity

Last month I told you about the upcoming rebalance of the hugely popular VanEck Vectors Junior Gold Miners ETF (GDXJ), and how it would distress shares of junior, small-cap mining stocks. I said then that the rebalance could create some excellent opportunities for astute investors to accumulate high-quality, well-managed producers […]

Hope for the Best but Prepare for the Worst (with Gold and Munis)

This week investors shrugged off even more drama coming out of Washington. Stocks continued to rally and hit record highs, even as former FBI director James Comey testified that, in his opinion, President Donald Trump fired him in an attempt to lift the “cloud” of the Russia investigation. If true, […]

Trump Bids Adieu to Paris Climate Agreement. What Does this Mean for Energy Investors?

Surprising no one, President Donald Trump announced his decision to withdraw the U.S. from the Paris climate agreement this week, highlighting the depth of his commitment to keep “America First.” Also surprising no one, the media is making much of the fact that the U.S. now joins only Nicaragua and […]

5 Things You Need to Know from this Week (Look What Gold Just Did!)

It’s been a whirlwind week. After attending two big conferences, I landed in Vancouver today where I’ll be presenting at the International Metal Writers Conference. Markets continue to close at record highs, even as political uncertainty remains and the threat of terrorism looms large over Western nations. On Monday, gold […]

Hedge Fund Managers Pour SALT on U.S. Stocks, Look to Europe

Europe is back on the map. That was one of the main takeaways this week from the SkyBridge Alternatives (SALT) hedge fund conference in Las Vegas, where $3 trillion in assets was represented. Speaker after speaker touted European equities for their attractive valuations and as a means to diversify away […]

An Unexpected Change In Gold’s Seasonal Trade Pattern

Here at the outset, I want to share with you an interesting observation we made this week of gold’s seasonal trading pattern. As you can see in the chart below, based on data provided by Moore Research Center, the five-year pattern, represented by the orange line, is diverging from the […]

The Case of the Missing U.S. Stocks

In the last 20 years, the U.S. stock market has undergone an alarming change that too few people are aware of or talking about. Between 1996 and 2016, the number of listed companies fell by half, from 7,300 to 3,600, according to a recent report by Credit Suisse. This occurred […]

Let’s Talk About Tax, Baby

This week I had the pleasure of attending Evercore ISI’s Energy Policy & Geopolitics Conference in Washington, D.C., where I visited with senior staff responsible for infrastructure and energy decision-making. The meetings were encouraging and highly instructive, and they opened my eyes up to some of the lesser-known inner workings […]

Nearly 100 Days In, Is Trump Any Closer to Fiscal Reform?

Next week I will be in Washington, D.C., attending Evercore ISI’s Energy Policy & Geopolitics Conference, where I will be visiting senior staff from the White House infrastructure team and House Energy and Commerce Committee. I will also be meeting with John Fagan, head of the Treasury Department’s Markets Room, […]

Get Ready for Inflation! Lumber Logs a 12-Year High

As if you need more proof that inflation is finally starting to pick up, lumber prices rose to a 12-year high this week, supported mainly by expectations that steep duties will soon be levied on cheap softwood imports from Canada. Lumber futures rose to nearly $415 per thousand board feet […]

Amid Global Uncertainty, Pay Attention to this Manufacturing Index

This week I returned from Zurich, where I spoke at the European Gold Forum. Investor sentiment for the yellow metal was particularly strong on negative real interest rates and heightened geopolitical uncertainty in the U.S., Europe, Middle East and South Africa. A poll taken during the conference showed that 85 […]

Can Trump Dig Coal out of Its Slump?

Flanked by coal workers, President Donald Trump signed the American Energy Independence Executive Order this week, directing the Environmental Protection Agency (EPA) to review the Clean Power Plan, former President Barack Obama’s signature environmental policy. Unveiled in August 2015, the plan is intended to reduce carbon dioxide emitted from U.S. […]

Investor Alert: Strategist: Keep Calm, Tax Reform Is On Its Way

Stocks had their worst day in months on Tuesday. The S&P 500 Index retreated more than 1 percent for the first time since October, and the small-cap Russell 2000 Index gave back more than 2 percent for the first time since September. As of today, the Dow Jones Industrial Average […]

America’s New Emphasis on Fiscal Policy

For the third time in two years, the Federal Reserve lifted interest rates 0.25 percent this week following last week’s phenomenal jobs report. The move was seen as more dovish than many market analysts had anticipated. BCA Research went so far as to call it an “unhike,” citing a number […]

The Bull Market Just Turned Eight. What Now?

Eight years ago this week, President Barack Obama gave investors a surprisingly hot trading tip. In office less than two months, he commented that we were at “the point where buying stocks is a potentially good deal if you’ve got a long-term perspective.” Obama couldn’t have known then how accurate […]

Disrupt… Or Get Disrupted

This week I was in Vancouver attending YPO EDGE, the annual summit for business executives from more than 130 countries. YPO, which stands for Young Presidents’ Organization, has roughly 24,000 members worldwide. Together, they employ 15 million people and generate a massive $6 trillion in revenue annually. What I appreciate […]

This Natural Gas Opportunity Is Years in the Making

This week I was in beautiful Argentina with a diverse team of investors and mining executives, including my good friend Frank Giustra; Ian Telfer, founder of Silver Wheaton and current Chairman of the Board of Goldcorp, which has sizeable investments in Argentina; and Serafino Iacono, Chairman of the Board of […]

Gold Gets a Shot in the Arm from Inflation and China

Inflation just got another jolt, rising as much as 2.5 percent year-over-year in January, the highest such rate since March 2012. Led by higher gasoline, rent and health care costs, consumer prices have now advanced for the sixth straight month. In addition, January is the second straight month for rates […]

Investors Brace for a Storm of Uncertainty with Gold

As Winter Storm Niko blanketed the Northeast in snow this week, disrupting scores of flights in the U.S., airline executives convened in Washington to talk shop with President Donald Trump. Back in November, I wrote that domestic carriers are likely to see the new president—himself the former owner of the […]

Investors Shift Back into Gold as Trump’s Honeymoon Period Ends

That didn’t take long. After little more than two weeks, President Donald Trump’s honeymoon with Wall Street appears to have been put on hold—for the moment, at least—with major indices making only tepid moves since his January 20 inauguration. That includes the small-cap Russell 2000 Index, which surged in the […]