I haven’t been this cautious in six years (Ep. 671)
Wall Street Unplugged - What's Really Moving These Markets
Frank Curzio
4.5 • 1.1K Ratings
🗓️ 29 May 2019
⏱️ 97 minutes
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Summary
Transcript
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| 0:00.0 | Wall Street Unplugged looks beyond the regular headlines heard on mainstream |
| 0:06.1 | financial media to bring you unscripted interviews and breaking commentary direct from Wall Street |
| 0:11.8 | right to you on Main Street. |
| 0:16.0 | How's going out there? It's May 29th. |
| 0:19.0 | I'm Frank Curzy, hosted the Wall Street Unplugged Podcast, where I break down the headlines. |
| 0:22.8 | And tell you what's really moving these markets. |
| 0:30.0 | You know, I'm not sure if you could find a worse sector to invest in since 2011 than mining. |
| 0:37.3 | It's been a total disaster with just about every company in the industry has gotten smoke. |
| 0:44.2 | And we talk about an industry, a cyclical industry |
| 0:47.4 | that's been depressed for seven straight years. |
| 0:54.0 | Which has been broad. years. I mean, she's been brutal, completely brutal for investors. |
| 1:00.0 | And being honest here, it's difficult to see a short-term catalyst. |
| 1:03.0 | It's going to make this sector favorable again. |
| 1:05.0 | Long term, it's cheap, it's crazy. |
| 1:08.0 | But let's be honest here when it comes to mining. |
| 1:11.0 | It is one of the crappiest businesses in the world, right? |
| 1:14.0 | We have your big producers whose margins are pretty low considering all-end costs, |
| 1:21.0 | so around a thousand, some of them say 900, some of them say nine hundred some |
| 1:24.2 | them say 11 up but around a thousand on average depending on the producer you have |
| 1:28.4 | gold prices around 1250 1270 80 around there so I mean the margins are not that great considering, you know, these are the big guys. |
| 1:35.5 | They're blowing up mountains. |
| 1:37.5 | I mean I saw a lot of these projects. |
... |
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