Stansberry Investor Hour Stansberry Research

On this week's Stansberry Investor Hour, Dan and Corey welcome their colleague Mike
Barrett back to the show. Mike is editor of Select Value Opportunities and senior analyst of
Extreme Value. He joins the podcast to talk extensively about valuations, why you should
never pay too much for a stock, and the opportunities he sees in the market today.

Mike kicks off the episode by giving updates on his pecan plantation and his weekly Select
Value Opportunities newsletter. He explains that this service helps subscribers beat the
market while taking on less risk. The portfolio has returned about 14.5% since inception and
has outperformed its benchmark for nearly 80 straight weeks. Mike's secret to
outperformance is his system... It focuses on valuations and gives daily rankings of 100 well-
known stocks. That way, subscribers can enter positions at an ideal moment. Mike
emphasizes the importance of valuation and reminds listeners that it's a metric for future
performance. (1:34)

Next, Mike analyzes the differences between valuing stocks in public markets and his past
experience with valuing real estate in private markets. Plus, he talks more about momentum
being another important factor in picking stocks and how valuations have changed in recent
times. As Mike explains, the first year he started his service, only 5% of stocks were
overvalued. Now, in the past year, 30% are. This is "unprecedented" and a "warning sign"
that investors should be aware of. Still, Mike's system can help prevent huge losses. (19:28)

Finally, Mike gives his opinion on the overall market action and the broader economic
picture. He brings up market cycles, his belief that unemployment is about to be a big issue,
and factors that will lead gold and silver prices higher from here. He points out that there are
fewer higher-paying jobs available now and that most growth has been in lower-paying jobs.
This is skewing the jobs data. And he also discusses the importance of the housing sector
when it comes to inflation. (37:27)

On this week's Stansberry Investor Hour, Dan and Corey are joined by investor and award-winning filmmaker David Tice. David is the chief investment officer and senior adviser of a short-selling exchange-traded fund. He also is partner at Moran Tice Capital Management, an investment-advisory firm. 
David kicks off the show by discussing his documentary starring Dennis Quaid, Grid Down, Power Up. The film centers around what would happen if the U.S. power grid went down and the country was left without electricity for a lengthy period of time. David talks about how preventable the catastrophe could be if the government invested in utilities. And he shares that a disaster like this could result in hundreds of millions of Americans dying of starvation or water deprivation. As David emphasizes, this is a very real danger, as America's adversaries are already in the grid from a cyberattack standpoint. (1:36)
Next, David details his short-selling AdvisorShares Ranger Equity Bear Fund (HDGE). He explains that the fund is up year to date since many bad companies are finally starting to do poorly in the market, especially in commercial real estate. And several factors – overvalued stocks, high interest rates, massive national debt – are setting the country up for a huge decline. David urges listeners to prepare for the worst rather than try to eke out a few more percentage points in gains, especially considering today's geopolitical conditions. (17:44)
Finally, David breaks down how he and his team at HDGE discover companies to short. He cautions, however, that bad stocks can soar just as much as good stocks, so timing is the key factor. After, David discusses his precious metals hedge fund and the huge opportunity he sees in mid-cap producers that are selling extraordinarily cheaply. He lists off two particular gold stocks he's a fan of and explains why he has so much hope for this sector. (34:57)

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)

On this week's Stansberry Investor Hour, Dan and Corey are joined by E.B. Tucker. E.B. is an
author, editor of The Tucker Letter, and investor with decades of experience in the precious
metals market.

E.B. kicks off the show by discussing the unavoidable loss of privacy in the modern era, how
societal pressures influence the lives of people of all ages, and the strength it takes to
challenge these conventional systems. As he explains, in both the real world and in the
world of finance, you need to learn to let go in order for something better to come along.
E.B. also breaks down why voting as a shareholder is so important. (1:42)

Next, E.B. recommends a few nonfinance books – one about the philosophy of happiness and
one about Yemeni coffee. He reminds listeners that life is about doing what makes you feel
fulfilled and that you should never live according to others' expectations. This leads to a
discussion about the role money plays in giving you the freedom to do whatever makes you
happy. (23:16)

Lastly, E.B. talks about his new book he's working on and how he hopes it'll make readers
reflect on their own life and learn lessons to help them evolve as people. He relates this to
financial teachings, where many readers want shortcuts instead of actually learning for
themselves and growing their techniques. E.B. emphasizes that understanding your own
relationship to an investment is the real secret to success. (40:44)

On this week's Stansberry Investor Hour, Dan and Corey welcome Marc Chaikin back to the show. Marc is a 50-year Wall Street veteran and the founder of our corporate affiliate, Chaikin Analytics. He also created a popular Wall Street indicator that appears in every Bloomberg and Reuters terminal in the world.
Marc kicks off the show by describing why he's so bullish in this presidential-election year. He explains that we're now entering a "sweet spot" for the market, and if there are any election surprises, that would be even more reason to buy in. Marc also lists off some sectors that he's bullish on today, especially in mid-cap stocks. These areas of the market aren't making headlines, but they're seeing steady gains and present attractive buying opportunities. (1:38)
Next, Marc shares his thoughts on the current AI boom and compares it with the introduction of the Netscape web browser in 1995. He discusses profit margins versus valuations, the potential loss of jobs due to AI, and the usefulness of large language models like ChatGPT. According to Marc, there are companies across a variety of industry groups that are going to benefit from AI. Investors just have to find them. (15:45)
Lastly, Marc shares all the details about his newest, most personal newsletter service that will be launching soon. He explains that it's going to focus on finding "hidden gems" – mid-cap or small-cap stocks that are undiscovered but have great valuations. As Marc says, "The focus is prospecting for gold nuggets." With his custom Power Gauge system by his side, Marc is going to find hidden winners – in a range of sectors – that are set to profit from the AI revolution. (34:32)

On this week's Stansberry Investor Hour, Dan and Corey welcome author Alex Epstein to the
show. Alex has written several books advocating for the use of fossil fuels, including his most
recent work, Fossil Future. The self-described "energy-freedom advocate" joins the podcast
to challenge the popular climate-change narrative and provide more context for the crucial
role fossil fuels play in society.

Alex kicks things off by weighing in on the debate around climate change and the effects of
fossil fuels. He argues that the benefits of using fossil fuels far outweigh the negatives and
that, in many cases, energy can be used to overcome any adverse effects. Alex also breaks
down the myth of unsustainability, the anti-human bias implicit in environmentalism, and
the incorrect belief that more folks die of climate-related catastrophes today than in the
past. (2:38)

Next, Alex discusses his impact with politicians and lawmakers. He explains that 200 major
political offices use his content to direct policy and become more informed on energy topics.
Alex then shares his opinion on climate change, pointing out that we're currently in a climate
renaissance and that the Earth has never been more livable for human beings. He brings up
geoengineering as a way to cool the climate, asserts that the negative environmental
impacts are severely overblown, and emphasizes the crucial role energy plays in the
economy. (21:30)

Finally, Alex talks about climate-change rhetoric dominating in elections, the harm that tech
companies have done by blatantly lying about being 100% renewable, and why humans
should take pride in the fact that we're progressing as a species and learning to use the
Earth in new ways. He puts the anti-impact perspective into both a philosophical and
historical context, noting that primitive religions believed "sinning" against nature had dire
consequences. (34:19)