You're Only Ever a Contrarian or a Victim in Natural Resource Investing

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

🗓️ 4 March 2024

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dan and Corey kick off the show by discussing Warren Buffett's recent letter to Berkshire
Hathaway shareholders. In it, he honored his late colleague and friend Charlie Munger, plus
gave updates on some of Berkshire's businesses. Dan and Corey also cover Apple switching
its resources over from electric vehicles to artificial intelligence. (0:41)

Next, Rick Rule – president and CEO of Rule Investment Media – joins the conversation. He
goes into depth on models, such as the discounted cash flow model. He talks about the flaws
with models, why models are only useful for apples-to-apples comparisons, and how a model
can be used on exploration companies or similar companies that don't have revenues.
(24:32)

After, Rick goes into detail on the uranium market. He describes why uranium companies
have mothballed production, what makes uranium so unique in the natural resources world,
the differences between the spot and term markets, and how to interpret uranium
companies' financials. (33:18)

Lastly, Rick calls out several commodities that present good investing opportunities today.
He describes one of them as "stupidly cheap"... another he says is hated by investors and its
market is in disarray... and the final two, he explains, are being sold off because of an
incorrect belief that we don't need internal-combustion engines anymore. Rick even goes
one step further and namedrops specific companies that could be worth looking into to take
advantage of these price discounts. (49:15)

Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Ferris. I'm the editor of Extreme Value
0:08.1	and The Ferris Report, both published by Stansberry Research. And I'm Corey McLaughlin, editor of the
0:13.8	Stansberry Daily Digest. Today we'll talk with longtime friend of the show, Rick Rule of
0:19.4	Rule Investment Media.
0:26.2	And Corey and I will talk about Warren Buffett's brand new Berkshire Hathaway Shareholders letter.
0:26.9	And remember, if you want to ask us a question or tell us what's on your mind, email us
0:30.6	at Feedback at InvestorHour.com.
0:33.6	That and more right now on the Stansbury Investor Hour.
0:41.0	All right.
0:42.3	Let's do this thing.
0:43.3	I love a good Buffett letter, and they're all pretty good, aren't they?
0:46.1	They are, yeah.
0:46.9	When it lands on a weekend afternoon, the usual timing, it's a nice surprise.
0:53.1	It is, yeah.
0:54.2	Yes.
0:54.7	And we would have guessed, if I thought about it, which I didn't, I would have guessed that
1:00.3	he would start out as he did with a tribute to his longtime partner, Charlie Munger.
1:04.8	And he calls it Charlie Munger the architect of Berkshire Hathaway.
1:09.0	And you wrote a really good bit about this, by the way,
1:11.7	in the Stansberry Digest recently, where Buffett Frames himself is the general contractor,
1:17.9	but Charlie Munger, as the architect of Berkshire Hathaway. Essentially, what we all know as,
1:24.7	like, Berkshire was a deep value investor buying cigar butts companies,
	...

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