The gold price's extreme rise took a break recently. But even a 10% decline hasn't cooled off expectations for its future.That's why we need to use this pullback to add to our gold portfolio.According to the Financial Times, gold bull markets commonly pull back up to 10% in bull markets. And none of the big financial institutions think gold's run is over. Analysts at giant banks like Goldman Sachs...Read More
It's Veterans' Day, originally called "Armistice Day" to commemorate the end of the Great War (aka World War I) on Nov. 11, 1918. In this regard, it's appropriate to discuss the war. And since this is an investment-oriented letter, we'll address how the U.S. Federal Reserve helped finance it.Below, we'll look at how the 1914-18 conflict reshaped America's system of national finance, and laid found...Read More
Regular readers know we are preparing for a major market shift over the next few years.A move out of expensive sectors like big tech and AI, and into hard assets. A rotation out of hype, and into reality.This thesis is centered on the idea that the world has reached a tipping point with debt. Governments worldwide are up to their necks in it.Central banks and political leaders have only a few opti...Read More
Alex Rogo had three months to save his factory.The plant manager of Bearington’s struggling manufacturing facility watched helplessly as inventories piled high while shipments ran late.He’d done everything by the book. He maximized local efficiencies, controlled costs, and kept every machine running at full capacity.Yet throughput kept falling. Management’s patience had run out.D...Read More
In the grand pantheon of science mythos, Galileo is the poster child for "the scientist forced to recant by the powers that be." And boy, have TPTB regretted it ever since!But they didn't at the time.The modern analogue isn't an astronomer with a telescope, but a molecular biologist with a model kit. That man, James D. Watson, is someone who cracked one of the great codes of biology (the structure...Read More
Is the stock market bubble about to burst?It has seemed that way a few times over the past year, but so far each selloff has proved to be a blip on a relentless climb upwards.But now we're starting to see signs of weakness in the sector that’s driving markets higher: AI/tech.Investors are beginning to digest that there's simply not enough electricity in America to support endless new data ce...Read More
The problem with the busy-bodies is that they are too busy. TV...tablets...TikTok who has time to read the classics, or to think at all?An example: the destruction of the twin towers on 9/11 will bring some "economic good," said celebrity economist Paul Krugman. "Now, all of a sudden we need some new buildings...rebuilding will generate at least some increase in business spending."Holy schmoley....Read More
Since 2008, U.S. stocks have absolutely crushed the rest of the world.The S&P 500 rose 592% over the 17 year period from July 2008 to July 2025. The MSCI world index (excluding the U.S.) was up 140%.And the MSCI emerging markets index was up just 92%.The chart below tells the story:Source: Charlie BilleloIt's been an incredible period of outperformance for American stocks. We've torched Europe...Read More
Magna Terra Minerals Inc. (MTT:TSXV; BRIOF:OTCPK) received a Buy rating from Atrium Research, following new soil and rock geochemical results from the Hughes Lake Trend at the company's 100% owned Humber Copper Cobalt Project in western Newfoundland. Read to see what the analyst is saying about this company. On November 18, 2025, Atrium Research analysts Ben Pirie and Nicholas Cortellucci, CFA,...Read More
Global Analyst Adrian Day reviews third-quarter results from several companies, including the major royalty companies, which were strong across the board. There are also some meaningful royalty purchases reported. Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) reported another strong quarter, boosted by the gold price, of course, but with production up; free cash flow was $1.2 billion, above expecta...Read More
Twenty-five years after its purchase, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) may be on the cusp of finding a partner for its KSM flagship project in British Columbia's Golden Triangle, the company's CEO said during a web call. Twenty-five years after Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) purchased its massive KSM flagship project in British Columbia's Golden Triangle, the company is movi...Read More
In 1929, just before the Great Crash, economist Irving Fisher famously said stock prices had reached, “what looks like a permanently high plateau”.Fisher was a raging bull, and his portfolio was leveraged to the hilt. The crash wiped out his entire fortune, and he was forced to borrow from wealthy relatives to pay his IRS bill.It'd be easy to scoff at his arrogance. But Fisher's view w...Read More
Ask any locomotive engineer. You definitely want to stop the train too soon versus too late.Or in other words, don't be this guy:Santa Fe locomotive overshoot, Los Angeles, January 1948. Courtesy martinturnbull.com.No question about it; we've had a good year in 2025. Gold, silver, platinum are up. Most other metals as well. Many miners are up, and many have seen spectacular gains. And while I don'...Read More
Did President Autopen just run out of ink?That's a serious question but probably does require some explanation. Recent months have been filled with so-called tell-all books from Biden administration insiders. In trying to boost sales, they write about how Biden's cognitive impairment was a preoccupation around the White House. Staff had to use teleprompters for informal meet-and-greet events. The...Read More
After the stellar year we've had in precious metals, a correction was inevitable. Necessary, in fact.And last month, it finally happened.Gold fell about 10% from a high of around $4,400 to $3968.The GDX gold miner ETF slipped from a high of $85 to $68. Almost exactly -20%.Silver fell from around $54 to $47 (-13%), while the SILJ junior silver miner ETF dropped from $27 to $20, a substantial 26% dr...Read More
Vanguard Mining Corp. (UUU:CSE; UUFF:OTC; SL51:FWB) has begun drilling at its Redonda Copper-Molybdenum Project in British Columbia, targeting deep, high-grade mineral zones. The company said the fully funded 2025 campaign aims to define the scale of the system using new geophysical and structural data. Vanguard Mining Corp. (UUU:CSE; UUFF:OTC; SL51:FWB) has officially commenced its 2025 diamond...Read More
Michael Ballanger of GGM Advisory Inc. shares his thoughts on the current state of the market and explains why he is "all-in" copper. Arguably, one of the most humbling experiences of the past 47 years spent circumnavigating the global financial world was trying to apply conventional fundamental analysis to markets being driven by unconventional emotional stimuli, such as the one in which I have...Read More
Gold rose more than 60% this year, cracking the US$4,300 barrier for the first time. It has since cooled and some may wonder if the pullback means the end of this bull market, but Global Analyst Adrian Day told Streetwise Reports believes that the current prices are "definitely not the top." Gold rose more than 60% this year, cracking the US$4,300 barrier for the first time. It has since cooled i...Read More
Barry Dawes of Martin Place Securities shares his thoughts on where the gold market is headed and takes a look at a few gold stocks. Its no fun being a gold bear, but the markets must be heeded.And if the 'fundamentals' are negative, there is no point in throwing in the towel and saying that I have turned bullish.The major point of the gold bugs is fiscal recklessness in debasing the currency, an...Read More
Picture a single country at the center of the world's monetary system.An empire overflowing with unprecedented wealth.Sounds pretty nice. But underneath the shiny surface, all isn't well.These vast riches have discouraged industry at home. The country imports most of its goods.Its elites are living a life of luxury. Building palaces and importing the finest foreign wares.But inflation becomes a pe...Read More