Episode Details

Rick Rule joins us for a masterclass on natural resource investing: what actually works, what’s hype, and why most investors get wrecked even in bull markets. We cover his core contrarian framework “buy hate, sell love,” why he sold most of his silver and rotated into miners, and how to separate saving (gold) from investing and speculation. Rick also breaks down why gold moved first, why mining equities lag, what royalty/streaming gets right, and why 90% of listed mining companies are non-viable plus the hard reality that many “10-baggers” come with brutal drawdowns. In this interview: • Resource cycles and contrarian timing • Silver vs silver miners and valuation traps • Royalty/streaming vs operators • Why juniors are mostly dead money and how to filter them • What to watch next in precious metals and the macro backdrop