Bob Moriarty: This Is The Start Of The Revolution

Just when we think 2020 can’t get any more volatile or disruptive, the page turns to the next chapter and it does. We have seen a breathtaking rally in stocks since the March low and I decided it was time to ask 321gold founder Bob Moriarty about his call that we were headed for the next great depression – was he mistaken or was he early in this forecast? As usual the conversation was wide-ranging and addressed many of the issues of the day, as well as how investors might be able to make some money this summer…

 

Goldfinger: Bob, let’s start by talking about the whole COVID thing and what happened in the market in February and March, the big drop. We had a conversation on March 25th, where you basically said that this is going to be like the Great Depression, and that if anybody chases rallies, it’s going to be like catching a falling safe. And what we’ve basically seen since then is that stocks have gone straight up for the last two months. So, would you say that you were wrong with that analysis in early April?

Bob Moriarty: I wouldn’t say that. But I certainly was early. I have never seen or read about a market quite this insane. And you could credit manipulation. You can credit anything you want. The virus was pretty much broad, and Ron Paul called it very early. We fudged the numbers, and it certainly created a pin that burst a lot of bubbles. And the Fed came in and poured money into the system, and boy, I’ll tell you this. It’s going to cost a lot of people a lot of money at the end of the day. This is the most insane market I’ve ever seen. We’ve got 40 million Americans out of work. We have riots in 150 cities, and the stock market is trying to hit new highs. That’s shithouse rat crazy.

Goldfinger: You’re somebody who’s written a book called “Nobody Knows Anything,” and one of the premises of the book is that the gurus, all of the so called “experts”, all the people who say that they know what markets are going to do in the future, they’re all basically frauds, or they’re not any smarter than you or I am. So, in one sense, you say nobody knows anything, but in another sense, you say well, the market’s really irrational right now, because look at what’s happening. But isn’t the market supposed to be irrational sometimes? The market goes up, the market goes down. Couldn’t you just say “The market’s doing what the market does. It went up in January and February, then it went down in March. It went down a lot in March, and now it’s gone up again. And maybe we’re about to go down again now.” The market’s doing what the market does. Right?

Bob Moriarty: Well, what you said is true, but it’s fairly meaningless. We have had things that have never happened before in history. If you remember the last time we talked, we talked about the gold/silver ratio. It seems to me, that up until March, the highest the gold/silver ratio had ever been in 5,000 years of trading was something like 100 to 1, somewhere in that area. Intraday, in mid-March, it got up to 131 to 1. That’s insane.

Let me give you another example of insanity. Do you have any idea of how much American Airlines went up this week?

Goldfinger: I know a lot about that, because I shorted it Friday morning at $22.32, and I made a good trade on that. AAL shares were up about 100% for the week at Friday morning’s high and I shorted it almost at the exact high of the day. I also wrote about the short setup Friday before the market open in my Trading Lab morning email sent out to premium subscribers.

Bob Moriarty: Well, that’s very good. Clearly, you understood how irrational it was. Now, I think you started off by saying nobody knows anything and there’s no such thing as gurus, and you can’t call the market. And by and large, that’s true. Okay? The very best you can ever do is make an educated guess. This is a terrifying market. You had everybody jump on the gold and silver bandwagon, and we’ve had this incredible move. Silver moved from under $12 an ounce, to almost $18.50 an ounce, in 10 weeks. Those are moves that are historic. I’ve never seen anything like it. So, it’s a really great opportunity, if you’re a good trader. And you, personally, are a, not a good trader, you are a great trader. And likewise, on Tuesday, I said that silver would do a correction, and it appears that it started a correction.

Goldfinger: I do want to talk about the precious metals, but I would like to go back to American Airlines for a second, and make a point about how crazy this market is. So, I’m going to tell you a little story. I have a friend, she’s 25 years old and she’s a nurse. She’s a wonderful human being and she’s been working as a nurse for about a year.

She’s been able to save some money in the last year, and in February, she said to me, “Hey, I think I’m going to start investing, because I have this money piling up in my savings account.” And I said, “Okay, that’s a good idea.” She says, “Have you heard of Robinhood?” I said, “Yeah.” I said, “That’s not bad, because you’re going to be buying and holding, so you don’t need a more sophisticated trading platform, and the trades are free, so go ahead. Open a Robinhood account.” So she did, and she put in $1,000.00, and then stocks started going down, and she said, “Do you think I should start investing now, because stocks are falling?” And I said, “Well, maybe wait a little bit.” And then she put in another $1,000.00. And she said, “You know, I think I’m going to buy Boeing, because it’s dropped so much.” This was in March.

So I said, “Okay. If your holding period is more than a year, it might not be a bad idea.” To make a long story short, she bought some Boeing, then she bought some American Airlines, then she bought some Tesla, and she had put in a few thousand dollars into these stocks by the end of March. And she was afraid, because she was now losing a little bit of money. And she said, “I’m just going to hold. I’m not going to look at it.” And then I told her she should buy some gold miners, which she didn’t, because she said she didn’t understand gold and gold mining stocks, but she thinks that she understands Tesla, Boeing and American Airlines. And so fast forward to this last week. She still has all of her Tesla, all of her American Airlines, all of her Boeing stock, and I asked her, “Hey, are you going to sell some?” And she said, “No, I think I need to buy more. Everything is going up” I said, “Well, hold on a second. You’ve made a lot of money now. They’ve gone up a lot, and American Airlines went from $9 to $22. That’s a move that often takes a few years, not a few weeks.”

But it’s interesting to see her psychology. She’s experiencing greed now, she feels that she needs to be making more money, and she should be investing more.” Which is the opposite of my thinking. If I were her, I would sell all the stocks that she owns, and I’d go to the sidelines.

What are your thoughts on that, and this new generation of investors that are using this Robinhood platform, and they all seem to have bought Boeing and American Airlines, many of them literally bought some of the stock that Warren Buffett sold.

Bob Moriarty: In March of 1970, the stock market had declined a lot. It hit a high in 1966, and it declined from 1966 until 1970, and the generally accepted investment at the time was the stock market. I opened a brokerage account, and I asked the broker what a bottom would look like, and he said “When we have declines day after day after day and have five or six or seven days in a row where the market crashes, and stocks would be $20 one day, and $10 the next. And generally, about 10:00 on a Tuesday morning, you want to throw money at the market.” And I said, “Well, that’s interesting, but how do you get leverage?” And he said, “You buy something called  a “Call.” And I said, “What’s that?” And he said, “It’s the right to buy stock at a specific price for a specific period of time. It’s the right, but not the obligation.” Now this was years before the CBOE, so you had to negotiate every trade. And I bought planned on buying some of these options on a few hundred shares of a stock called Great Western Finance, it was a bank stock from California. On Monday, the stock went from, I think, $18 to $12 Tuesday morning. And at 10:00, I said, “Okay. I want to buy those calls.” And they tripled in the next week.

That was the most expensive mistake that I ever made. Anybody who thinks there is a free ride in investing, and it’s easy to do, is going to end up paying a lot more money for experience. A number of people, I think there’s something like half a million new brokerage accounts. Everybody’s taking their $1200 down to the casino and bought quarters to put in the slot machines. And I’m thinking, “Holy shit. These people are going to pay a lot of money for that experience.”

Goldfinger: It’s really a remarkable time, and I think that’s a great story. Like you said, you made money, but it was the most expensive profit that you probably ever had, because it got you, maybe, to be thinking that it was easier than it really was. And it’s interesting, my nurse friend, seeing her messages to me, she was afraid to buy in March. She didn’t want to buy gold stocks, when it was a great time to buy them. She bought American Airlines at a great price, but she was afraid to buy more when it got cheaper. And now that she’s making money on all of her stocks, she’s feeling greedy. What if she didn’t buy enough? Then she should buy more.

So it’s interesting to observe the psychology of an investor. When a stock is cheap and the price is falling and becoming cheaper, they’re afraid to buy. When it’s expensive and it’s been going up, they feel like they didn’t buy enough, and they should buy more. When in reality, the opposite is the right move. When it’s cheap and it’s falling, you should buy more. When it’s gone up a lot and it’s expensive, you should probably sell some. And that’s what we’re seeing now, so I think that you’re right, a lot of people who have gotten into the market in the last few months are going to have an expensive lesson, at some point. We say that now, but stocks have kept going up, against all odds. So how long can this go on?

Bob Moriarty: Well, to the extent you’re asking the question, how stupid can people be? And according to Einstein, there are only two things that are infinite, and one is the universe and the other is human stupidity.

Goldfinger: And it’s also interesting because we have a President who cares, only, about the stock market and the economic numbers, and only when they make him look good. And also the Fed has said, it’s not like they’re hiding it, they are willing to do anything to achieve full employment and 2% inflation. So as long as we’re not at full employment, which we’re clearly not, and as long as we’re not at 2% inflation, which we’re clearly not, then the Fed is going to continue to pour more liquidity on this market.

Bob Moriarty: That’s true, but it’s very important for investors to understand the basic difference between liquidity and solvency, and there is a difference. If you have a liquidity issue, pouring money on to the system can work. If you have a solvency issue, it’s not going to do anything. We have this bizarre situation where the Federal Government is now paying people more not to work than the free market was willing to pay them to work.

Now, let’s be candid. Let’s bring in the riots. The simple issue behind the riots is the inequality between the rich and the poor. The one-tenth of 1%, not the 1%, the one-tenth of 1%, that tiny fraction of the most rich people in the United States have increased their net worth $600 billion, because of the virus. We’re in Never Neverland.

Goldfinger: I’m glad you brought up the protests and the riots. There’s a distinction between protests and riots. I think riots are more violent, and protests are generally peaceful. Law enforcement brutality is nothing new in the United States, and it’s not something new in the world. It’s happened, every country, every culture, every color of skin has been a perpetrator of it and a victim of it, in one time or another. And in the United States, we created law enforcement who are more like military at this point. And many of them have been acting like they’re above the law. And so I feel like these protests have been a long time in coming, and you’re right, there’s a racial aspect to it, too, for sure. But the bigger aspect is socioeconomics and the gap between the ultra wealthy and the common person, and that’s never been wider. And I think a lot of that is fueling this outrage, this unrest, that we’re seeing. And I think the genie is out of the bottle, in a sense. You predicted this, you said a revolution was coming. Is this the revolution?

Bob Moriarty: It’s the start of the revolution. Here’s what’s interesting, there is a world of difference between a peaceful protestor and someone taking a truck and bashing it into Best Buy and then going in and stealing the large screenTVs. To give you an idea of how bad the police are out of control in the United States, the police kill more people in one month in the United States that they have killed in 40 years in Great Britain. That’s how out of control American police are. The amazing thing to me was, these idiots, these cops, are so out of control, they’re arresting reporters while the reporters are filming a segment live on television. And they arrest the black reporter, but they don’t arrest the white reporters. Are the cops stupid? They are doing this on live TV.

But let’s go back to the thieves, I’m against people breaking into Best Buy and stealing. I don’t give a damn what their skin color is. However, if you want to go in front of the White House and peacefully protest, for whatever reason, that’s incorporated into the Bill of Rights. You have an absolute right to do that. And when the President of the United States orders his guards to pepper spray these protesters so he can have a photo op, there’s the problem right there. That’s insane. The President of Twitter just did more damage to his image than anything he could have possibly done, and what did he do? He went to the church, he held up a bible, one of the reporters said, “Is that your bible?” And he said, “That’s a bible.” So President Twitter understands the difference between his bible and a bible.

And my God, if you wrote a book about this, if you tried to make a movie out of it, they would laugh you out of the studio. Nothing could be this outrageous, but the anger that is derived from the economic disparity is very real. The guy the cops killed was no angel. He had just gotten out of prison, and he had a terrible, terrible record.

Goldfinger: Are you talking about George Floyd?

Bob Moriarty: Yeah. He had literally just been released from prison.

Goldfinger: Whatever his past was became irrelevant in the moment that he became of victim of police brutality. In this country someone can make a mistake by committing a crime, serve a sentence, and then be offered a second chance to be a law abiding citizen. The police officer who murdered him is more of a criminal than George Floyd ever was.

Bob Moriarty: Absolutely.

Goldfinger: It’s important to distinguish that the United States was founded on freedom of speech, freedom of practicing your religion. A lot of Europeans came here because they were persecuted for their religious beliefs in different countries in Europe; these include quakers, jesuits, jews, etc. So they came to the U.S. to live and try to get some freedom. Eventually that freedom and equal rights applied to African Americans who were previously enslaved or were the descendants of slaves. And so now everybody is protected under the Constitution and is equal in the eyes of the law, and even if you are somebody who committed a crime in the past, you’re seen with new eyes in this moment, and you do not deserve to have a knee in the back of your neck for nine minutes, while you’re being arrested for trying to buy a pack of cigarettes. It’s absurd. It’s absurd. I think it’s also important to remember that a human being is innocent until proven guilty in the United States. So whatever Mr. Floyd was being arrested for, he was innocent at that moment and has rights to be treated fairly and humanely by those police officers.

Police have gotten away with so much of this shit over the years, against black people, and against white people, against Hispanic people, against Asian people, against all people, all different colors, all walks of life. Law enforcement has gotten away with brutality. And I think that everybody is just sick of it. The fact that the President says that nobody should be taking a knee during the National Anthem, and everybody should have to stand tall and put their hand over their heart and genuflect at the flag, that is also not a part of the Constitution, because we have the right to peaceful protest, in our own way, and we have the right to freedom of speech. And if we don’t want to stand for the National Anthem, that should be somebody’s choice, and then that is being an American, not being told what you have to do, and everybody should genuflect at law enforcement and military etc.. This President is not upholding the principles of the United States of America and he is tearing up the Constitution on a daily basis.

Bob Moriarty: Oh, absolutely. He is exactly what you get at end of the empires. When I look at Joe Biden and Hillary Clinton and Trump, give me a break. You would have to search far and wide to find three bigger crooks. How someone has concluded these idiots should run the richest country on earth, how on earth do you get there?

Goldfinger: Unfortunately, this is where we are. Perhaps we need to reach this low moment in terms of Presidential choices in order to awaken to a better future.

Bob Moriarty: Isn’t there some kind of rule? If you’re senile doesn’t that disqualify you from being President?

Goldfinger: I’ve seen Biden’s interviews and public speaking engagements, and I’m horrified.

Bob Moriarty: I’m horrified by all of them. I’m horrified by Obama. I’m horrified by Bush. I’m horrified by Clinton. It’s one of those, gag me with a spoon, moments.

Goldfinger: Turning to precious metals, you wrote a good update earlier in the week, about silver sentiment getting a little on the frothy side. We got a correction in silver last week. We don’t know how deep it will be, obviously, but silver pulled back about 10% or so and junior mining stocks also pulled back last week. We saw gold at one point was down about $50 on Friday. It closed well off its low, but June is often a volatile month in the precious metals sector. And honestly, after the big move we had in April and May, isn’t this normal to have a pull-back, maybe to just digest the gain by going sideways in a range for a few weeks? Isn’t this normal price action?

Bob Moriarty: Absolutely. No question about it. Your move to short American Airlines, nothing goes straight up, and nothing goes straight down. Everything moves in cycles, and it goes from being very cheap to being very expensive.

Now, I want to go back to your nurse friend. If she went into an automobile dealer to buy a new Corvette, and he said, “Boy, have we got a deal for you! Car was $65,000 last week, but we’ll sell it to you today, drive it off the lot, for $85,000! What do you say?” She’d say, “You’re insane.” But when it comes to stock market, if American goes from $10 to $22, “Gosh, what a great idea! I need to throw more money at it, so I can buy at the top!”

One of the most brilliant things that I said in that last book, “Basic Investing in Resource Stocks,” is buy what’s cheap, and sell what’s expensive. You and I talked about silver, and you thought, “Well, silver’s down for the count.” But in relative terms, silver was so cheap compared to gold, I just couldn’t see any way that it would do anything other than go up. And of course, that’s exactly what it did. But from a sentiment point of view, gold and silver need a break. And from a seasonal point of view, the end of May through mid-August tends to be a declining market for silver, for gold, and for mining stocks. And I would love to have the opportunity to pick up some more stocks cheap. I think what the Federal Reserve has done has pretty much guaranteed hyperinflation. They’re going to get their 2% inflation. They’re going to get that in spades. But a correction is a normal thing, and it’s a good thing.

Goldfinger: So let’s talk more about the individual stocks. In the junior mining sector, every June, companies send exploration crews out throughout North America to do exploration work. Even in northern Canada (Golden Triangle, Northwest Territories, and the Yukon) the drilling usually extends through the end of September. And then the results are coming back in, through the end of the year. So a lot of companies I follow have mobilized crews to drill in the last couple of weeks. And I know you follow a lot of companies that have done the same. Are there any companies that you’re really excited about this summer?

Bob Moriarty: Yes. Obviously Lion One, obviously Irving. Novo is getting very close to doing a deal on that mill, and I’ve known the Novo story for 12 years, now. And the one thing Quentin Hennigh wants is to be in production, and that’s going to mark a sea change. But the Hedgeless Horseman has done an absolutely brilliant job of showing the economies with the alluvial gravels. They’re going to get the cost of production of an ounce of gold well below $100.00 an ounce. And I think they’ve got 2000 square kilometers of alluvials, and quite bluntly, I think it’s all economic.

Goldfinger: Interesting. Yeah, Novo has had a nice move up, back above C$3.00, and it seems like people are starting to appreciate that story again. There’s a group of junior exploration stocks that have a strong seasonal tendency to rise beginning in May and continue higher for 3-4 months: Golden Triangle and Yukon explorers. Both of those are Northern Canada plays, and every June, companies go out, drill and do exploration work, and then they drill usually through September, and there’s a very strong seasonal tendency in these companies.

There is a company that we both follow, White Gold (TSX-V:WGO), which is a Yukon-focused gold explorer. Shawn Ryan is the founder of the company, and he is a very well-known prospector in Canada. White gold is starting to mobilize to their projects in the Yukon, and I spoke with Shawn Ryan, about a week or so ago, and that’s a really exciting company that’s using a lot of cutting edge exploration techniques. White Gold has also delivered some of the best gold drill intercepts i’ve seen in my life. Some of these drill results i’ve ever seen, 72.81 g/t gold over 6.09 meters in one example. White Gold is probably the best pure gold exploration play in the Yukon, just based upon the fact that Shawn Ryan cherry picked all of the claims, many, many years ago, and put them into this project portfolio that White Gold has. So that’s one stock that I really think is very interesting right now, along with a strong bullish seasonal tendency.

And then a stock that we talked about, probably a year ago, or maybe not quite a year ago, Banyan Gold (TSX-V:BYN), which is another Yukon-play. You said you liked it at five cents. They came out with a maiden resource on their AurMac Project in the Yukon, which is near Victoria Gold’s Eage Gold Mine, and the stock went up to 13 cents in the last week or so, and that one is starting to get some more attention. So just wondering what your thoughts are on the Yukon in general, in addition to White Gold and Banyan Gold?

Bob Moriarty: It’s interesting that you brought up White Gold, and you actually touched on the problem, without knowing it. I’ll be candid. White Gold is one of the most undervalued stocks I’ve ever seen, not because of their potential, but because of what they’ve already shown. Kinross owns 20%, and Agnico Eagle owns 20%. What Shawn Ryan did is took his entire package, rather than to be dealing with 15 juniors, Shawn Ryan took 15 or 20 projects and threw them into White Gold.

Kinross understands the potential. Agnico Eagle understands the potential, and Shawn Ryan understands the potential, and you understand the potential. But when you have a bunch of projects, it is very hard for investors to get their grip on it. And quite bluntly, everybody’s looking at individual projects, saying, “Well they got so many projects, I don’t understand it, so I’m not going to invest.” And my solution was, “Screw that. You don’t have to know anything about White Gold, because you can guarantee that Kinross looked into it. You can guarantee that Agnico Eagle looked into it. And you should be buying what they think is a good investment.” White Gold is absolutely way too cheap.

Now Banyan, do you happen to remember what I said about Banyan? Because it’s funny, in hindsight.

BYN.V (Daily – One Year)

Goldfinger: You basically just said it’s incredibly cheap.

Bob Moriarty: Well, it is cheap, but there’s another factor. It’s run by Tara Christie, and I happen to know Tara, and I’ve known her for a dozen years, at least. Tara Christie is the finest placer miner in Canada, period. She’s third generation Yukon. She knows more about the Yukon that anybody that I know. I just love Tara Christie, and I mean that sincerely. She is a lovely, lovely, lovely person, and I think that Banyan is going to be a home run, even from 13 cents a share.

Now I’ll give you another one, that’s similar to White Gold, and that’s a company called Reyna Silver. And they’re going to start trading on Monday, the 8th. They’ve got a bunch of silver projects in Northern Mexico, Chihuahua, Senora. Mag Silver, which happens to be one of the best silver companies in the world, had more projects than they could cope with, so they spun a half a dozen of them off into Reyna, two years ago. And Reyna just did a reverse take-over, and they’ll be public and trading on Monday. Mexico has produced a quarter of the silver that’s ever been produced in history. There have been 48 billion ounces of silver produced, and 12 billion ounces of that came out of Mexico. And some of the projects in Renya produced hundreds of millions of ounces of silver.

I’m not a silver nut, and I want to warn you, silver bugs are crazy. They’re absolute lunatics, and everybody in the industry knows that everybody that buys silver thinks it’s going to $5,000.00 an ounce. I happen to believe that silver is cheap, relative to gold. I think the only solution to the economic problems that are now getting very visible is to go back to a gold standard. And if you go back to a gold standard, the metal that is most in demand is silver. There are hundreds of silver mines in Mexico that nobody’s done anything with for the last 100 years, since the Revolution in 1910, and I think there’s enormous opportunity there.

Reyna is a great company. Peter Megaw is an advisor to the company, and he is behind many of those projects. And he and I actually spent almost a week driving around Northern Mexico 15 years ago, to see these projects. So I’ve been to the projects, and I’m quite enthusiastic about both the company and the projects. Peter Megaw is the expert on Mexico and CRD deposits.

Silver (Weekly – 10 Year)

Goldfinger: It’s interesting that you mentioned silver, because I do agree that it got a little overheated last week, near $19 an ounce. And in the short-term, markets can do anything. Markets don’t go in a straight line, they do experience corrections both through time and price. But if you look at silver in a bigger picture, if you look at a 10-year chart, you see that it’s been forming a very broad base, for the last several years, basically ever since 2013. It’s been forming a big, broad base. And technically speaking, if silver can bust out above $20 again, then man, we’re in a new silver bull market. And then, if silver’s trending from $20 to $21 to $22 to $23+ you’ve got to think that some of these silver juniors could go up 10, 20, maybe even 50 fold, in a silver bull market like that.

Bob Moriarty: I don’t think so.

Goldfinger: Why not?

Bob Moriarty: They’re going up 100x.

Goldfinger: Okay. Well, yeah, they could go up a hundred fold, at least, some of them might. But hey, I’m good with 20x gain.

Bob Moriarty: We’re going to see, let me give you an analogy, and somebody said something on one of the chat boards, and I was being stupid, I paid attention to it. And he was mocking me, because I said that platinum is cheap, and he pointed out that platinum hasn’t done anything in two or three years. You ever remember me talking about rhodium, three or four years ago?

Goldfinger: Yes.

Bob Moriarty: Rhodium got down to $595, and for years, I was telling people, “If you want to buy precious metal, and you want to make some money, you want to buy rhodium.” And everybody, “Yeah, yeah, yeah, yeah.” Rhodium went from $595, do you remember what it was in March?

Goldfinger: $10,000.

Bob Moriarty: $13,000.

Goldfinger: Rhodium is a very difficult market to invest in, because it’s so illiquid, to try and buy some, you often have to pay hundreds of dollars more than the current spot price. And then to sell it, you have to sell it under the spot price, unless you can find some private buyer or seller.

Bob Moriarty: You have to find someone who deal in it, and you have to buy it when it’s cheap. Now, the analogy that I was really using was, you can have a commodity go from $600 to $13,000, and the reason I would say it could do that is because it went $10,000 in 2008. I try to use history as the guide. And same thing when silver went to 131 to 1, for gold. Okay? If in 5,000 years, that would have been a profitable trade, then you want to own silver and you don’t want to own gold. Likewise, platinum has only been around for 300 years. But the ratio of platinum to gold now is the cheapest that it’s ever been, and that doesn’t mean that it can’t get cheaper. You could buy all the platinum you want to, pay a tiny premium for it, but platinum will, period, will, go up and be higher than gold, because for 300 years, that would have been a profitable trade 99.5% of the time.

So you got to use history. Everybody makes this stuff too complicated. You buy stuff when it’s cheap, and sell it when it’s expensive. You can make a lot of money.

Goldfinger: I think that’s a great place to leave off. And that’s something that you reiterate time and time again and I think it’s so fundamental. It’s so simple.Iif people would just do that, buy when everybody hates something, including junior mining stocks, gold, silver, rhodium, platinum, and then sell when it goes up a lot, and everybody starts to like it again. And if you just simply stick to that, you’ll do well as an investor over the long run. It really doesn’t have to be that complicated. Don’t chase fads. Don’t chase bubbles and what everybody else is doing. You want to buy when rhodium is $595 and nobody wants it, they can’t give rhodium away.

Or just as we saw in April, when oil literally went negative for a day, you couldn’t give a barrel of oil away. That was the time to buy oil, and oil stocks. And look at what’s happened since. They’ve gone up a lot.

Thank you for your time Bob. This was a great conversation and 2020 continues to be a year for the history books.

 
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The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. Banyan Gold Corp. is a high-risk venture stocks and not suitable for most investors. Consult Banyan Gold Corp’s SEDAR profiles for important risk disclosures.

EnergyandGold has been compensated to cover Banyan Gold Corp. and so some information may be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.

This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.