The Biggest Bubble in World History?

Stansberry Investor Hour

Stansberry Research

America, How, To, Crash, Money, Learn, Stansberry, Income, Research, Debt, Stocks, Porter, Business, Realestate, Banking, Investment, American, Investing, Invest, Howtosave, Sjuggerud, Ferris, Eifrig, Jubilee, Buck, Sexton, Market, Bonds, Churchouse, Savings, Options, Lashmet

4.4 • 677 Ratings

🗓️ 22 August 2019

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On the heels of a new report warning GE is a bigger fraud than Enron, to the latest unjustifiable IPO of a flashy tech star, to the testing of autonomous vehicles, there’s a lot to unpack this week.

Dan then gets to this week’s special guest, John Doody.

John Doody brings a unique perspective to gold stock analysis. With a BA in Economics from Columbia, an MBA in Finance from Boston University, where he also did his PhD-Economics course work, he became interested in gold due to an innate distrust of politicians and concern over their habit of debasing the currency via inflationary economic policies.

Transcript

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0:00.0	Broadcasting from Baltimore, Maryland, and all around the world, you're listening to the Stansberry Investor Hour.
0:08.0	Tune in each Thursday on iTunes for the latest episodes of the Stansberry Investor Hour.
0:16.0	Sign up for the free show archive at InvestorHour.com. Here is your host, Dan Ferris.
0:22.9	Hello and welcome everyone to another episode of the Stansberry Investor Hour. I'm your host,
0:27.9	Dan Ferris. I'm also the editor of Extreme Value. That's a value investing service published by
0:33.9	Stansberry Research. I'm excited about this show. I'm going to get right to it now.
0:39.7	So the rant this week is continuation of last week.
0:42.9	Okay?
0:43.5	What I've done here is I've added kind of another chapter to the story.
0:50.4	So last week I talked to you about the way that Wall Street turns conservative investment
0:56.4	vehicles into pure toxic waste, is what I'm calling it. And I mentioned two examples, right? The
1:02.9	investment trusts starting in the late 19th century, ending in the 1929 crash, and the U.S. 30-year
1:10.4	mortgage around the time of the financial crisis, you know,
1:13.8	maybe from around 2002 through just say 2009.
1:19.0	This week, I want to talk a little bit about mutual funds in that same light.
1:25.3	Okay.
1:26.0	And the story begins with something called the Prudent Man ruling of 1830.
1:33.3	We're getting in the weeds here, folks. There's a lot of material here. All right. So the Prudent Man
1:38.9	fiduciary tradition in American, well, in American law and American finance, goes back a couple hundred
1:46.0	years before the 1960s when the mutual funds kind of blew up in the way that I'm about to
1:52.6	describe.
1:53.4	But there was this one particular decision in 1830 in a case called Harvard College versus
	...

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