Episode Details

I am rotating some of my gold and silver profits into oil and gas, as I think energy is next. I will have more on this very soon. I promise. But we need to talk gold and silver today, plus we have an update on top pick Metals Exploration (MTL.L)

I thought Monday was the top. Silver went from $100/oz to $115/oz over the weekend and then on Monday in US hours reversed and gave back all those gains. It looked like we were shaping up for an island reversal.

Here we are on Wednesday and, as I write, we are at $115 again.

This is one strong market.

If you live in a third world country such as the UK, I urge you to own gold or silver. The pound will be further devalued. The bullion dealer I recommend is The Pure Gold Company. Pricing is competitive, quality of service is high. They deliver to the UK, the US, Canada and Europe or you can store your gold with them. More here.

Let’s all do the Randolph?

I have a friend. We’ll call him Randolph (which I read means “”wolf shield” - cool, huh?). He’s about 30 and he works in the City, as a quant analyst or something. After some extensive research, a few months back he put 95% of his entire portfolio into a silver mining company by the name of Hycroft Mining (NASDAQ.HYMC). It was $5.

Bear in mind, he has no real estate, so to put 95% of his entire portfolio into something can’t be that far off 95% of his entire net worth.

The research he’d done into both silver and, specifically, into the situation that was Hycroft, and the trust he had in his own judgment, gave him the conviction he needed to go for it.

Today the stock is trading at $50. He’s 10xd his money.

Randolph was talking to me about the company in December when it was $13. I resisted. I got so many ideas thrown at me, I can’t buy them all and I already had my silver exposure via Sierra Madre (SM.V) which was going and continues to go great guns. (It has almost tripled since December so it’s not like I can complain).

But you always hear about the ones you should have bought. The ones you were tipped that then collapsed - they get forgotten very quickly.

So good for Randolph. Events have proved him right. You’ve got to be in it, to win it, and all that.

But what if events had gone against him? What if silver had turned down 30%? He’d have been up the proverbial, and some.

But it didn’t and he’s been proved right.

My buddy Simon Catt, by the way, who was in Hycroft even before Randolph, thinks Hycroft can go up another 10x from here.

He could be right. I am just too cautious about buying things that have moved this much. Maybe I shouldn’t be. I didn’t buy bitcoin at $10 because it had just 10xd.

But, as I say, you only remember the ones that went up.The price is always there to remind you and eat away at you.

The ones you didn’t buy that collapsed - the gazillion of shitcoins and shitcos I’ve avoided over the years - I’ve no idea what they even are. I should put them all on a spreadsheet, calculate how much I’ve