Turning Problems into Profits with Kevin Duffy

Kevin Duffy, Dr. Quinton Hennigh and Michael Oliver are this week’s guests.

During the 2008-09 financial crisis Kevin Duffy’s Bearing Asset Management fund registered triple-digit gains while most everyone else saw their 401 K accounts cut in half. By exercising healthy skepticism of mainstream propaganda and studying history, Kevin has demonstrated how by recognizing past patterns of human and institutional behavior and by sticking to the merits of long-term value, you may be able to avoid large scale losses suffered by most investors and actually profit from taking contrarian positions.  Given the increasingly tumultuous markets during the first quarter of 2022, we asked Kevin what strategies he is currently using to “turn hard times into good times.” 

Dr. Hennigh joins us to provide an update on what is rapidly becoming a very large-scale, bulk mineable silver-tin deposit with other valuable base metal credits. Shareholders are enjoying the ride but given massive upside exploration potential, these may still be early days in terms of the ultimate upside.

Michael has been preparing his readers for major shifts in investment sentiment, away from overvalued equities to vastly undervalued commodities. With those tectonic shifts underway, we asked Michael how much further do these new trends have to go? 

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Kevin Duffy, Dr. Quinton Hennigh and Michael Oliver are this week’s guests.

During the 2008-09 financial crisis Kevin Duffy’s Bearing Asset Management fund registered triple-digit gains while most everyone else saw their 401 K accounts cut in half. By exercising healthy skepticism of mainstream propaganda and studying history, Kevin has demonstrated how by recognizing past patterns of human and institutional behavior and by sticking to the merits of long-term value, you may be able to avoid large scale losses suffered by most investors and actually profit from taking contrarian positions.  Given the increasingly tumultuous markets during the first quarter of 2022, we asked Kevin what strategies he is currently using to “turn hard times into good times.” 

Dr. Hennigh joins us to provide an update on what is rapidly becoming a very large-scale, bulk mineable silver-tin deposit with other valuable base metal credits. Shareholders are enjoying the ride but given massive upside exploration potential, these may still be early days in terms of the ultimate upside.

Michael has been preparing his readers for major shifts in investment sentiment, away from overvalued equities to vastly undervalued commodities. With those tectonic shifts underway, we asked Michael how much further do these new trends have to go? 

Kevin Duffy is principal of Bearing Asset Management which he co-founded in 2002. The firm manages the Bearing Core Fund, a contrarian, macro-themed hedge fund with a flexible mandate.

Bearing gained notoriety during the Great Financial Crisis by betting against stocks like New Century Financial, Fannie Mae, Bear Stearns and Lehman Brothers. Duffy wrote extensively on the housing and credit bubble identifying root causes of the bubble. A month later, he issued a warning in an op-ed for Barron’s titled “For Whom Do the Bells Toll.” The Bearing Credit Bubble Index was cited by Marc Faber in speeches and The Gloom, Boom & Doom Report.

Prior to Bearing, Duffy co-founded Lighthouse Capital Management and served as Director of Research from 1988 to 1999. He chronicled the excesses of the Japan and technology bubbles of the late 1980s and late 1990s respectively. The firm was later sold to Fisher Investments.

Duffy also publishes a bi-monthly investment letter called The Coffee Can Portfolio.

Dr. Quinton Hennigh is an economic geologist with 25 years of exploration experience, mainly gold related.  Early in his career, he explored for major mining firms including Homestake Mining Company, Newcrest Mining Ltd and Newmont Mining Corporation.  Dr. Hennigh joined the junior mining sector in 2007 and has been involved with a number of Canadian-listed gold companies including Gold Canyon Resources where he led exploration at the Springpole alkaline gold project near Red Lake Ontario, a 5-million ounce gold asset that was sold to First Mining Gold.  In 2010, Dr. Hennigh helped start Novo Resources, now a gold producer, by assembling its Australian exploration portfolio. He is Geologic and Technical Advisor to Crescat Capital. Dr. Hennigh obtained a Ph.D. in Geology/Geochemistry from the Colorado School of Mines.

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism. 

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.