I am not a talk show host, nor do I pretend to be one. When Olivier Garret asked me to serve as the host for Casey's Upturn Millionaires video event that aired last Wednesday, I didn't think for a moment that I would get the lesson of a lifetime.
I've known Frank Giustra, Ross Beaty, Rick Rule, John Mauldin, Doug Casey, Porter Stansberry, and Louis James for years, but after the event, I left with a new perspective—a perspective that is truly powerful, and I want to share it with you.
About Fear and Being Fearless
First I interviewed Frank Giustra, a true giant both in the entertainment (he founded Lionsgate Entertainment) and resource sectors. For years now, this man has consistently called tops and bottoms of various markets; I've never seen anything like it. The interview with him was fantastic—fun, insightful, and full of information.
One thing that really stuck out for me was when he said that fear is a much stronger emotion than greed, and that an investor must be unemotional to be successful. It was a great reminder of what it takes to be a successful speculator in the junior resource sector. His quote about former Fed Chairman Bernanke, "This guy wouldn't recognize a bubble if it painted itself red and stood naked on a piano and sang 'Happy bubbles are here again,'" was priceless.
Frank is brilliant—when you listen to his comments, it becomes obvious why he is such a successful speculator and investor. In Upturn Millionaires, he went on the record calling a bottom in both the physical gold and silver market and the junior resource sector as a whole.
Pareto's Principle in Action
Next up after Frank was Ross Beaty, a man we here at Casey have nicknamed "the broken slot machine" because of the repeated windfalls he's handed investors in his resource companies. I've known Ross for a long time, but he still surprises me. For example, I learned during our interview that Bill Gates had been a key investor for Ross' company, Pan American Silver, during its days in the Valley of Darkness.
One of Ross' comments really got me thinking. When I asked him about the secret of his success, he said, "Well, this may sound kind of silly, but honestly, I just don't know why more people aren't successful. This business is not rocket science. If you treat investors' money like it's actually your own money, and you look after it, and you guard it well, and you make good deals, you work with a very solid team of professionals, and you really try to create wealth for the long term, I don't know why more people can't make money."
Well, I think I have an answer to that: Pareto's principle. Essentially, it's the 80-20 Rule: 20% of entrepreneurs create 80% of the wealth. Years ago, I coined the 4-64 Rule—I took the 80-20 Rule and subjected that 20% again to Pareto's principle. The result states that 4% of entrepreneurs create 64% of the wealth (20% of 20% is 4%, and 80% of 80% is 64%, hence 4-64 Rule). All you have left to do as an investor is find that 4% of the best people in the business that will make you money.
Ross, too, emphasized the importance of investing in the right people, a theme we've been talking about for years; it's no coincidence that "People" is the first of Doug Casey's "Eight Ps." Ross is one of the smartest guys in the resource sector, so I encourage you to watch his interview. (Like Frank Giustra, he is also convinced that the bottom in the junior resource sector is in.)
An All-Star Cast
Another of our guests, Porter Stansberry, is always fun to be around. He's thoughtful and entertaining, and you're guaranteed to have an intelligent discussion. Just like Frank Giustra and Ross Beaty, Porter is bullish on natural resources. In the interview, he talked about the strategies he's employed in the past to make sizable contrarian gains in the past, for himself and his subscribers.
John Mauldin, chairman of Mauldin Economics, was optimistic too. Watching his interview in Upturn Millionaires, you'll not only learn the right way to assess risk and spread it around, you'll also find out what Mark Twain and a Mississippi riverboat captain have to do with calling a bottom in the markets.
Of course, Doug Casey and Rick Rule couldn't be missing from a discussion on natural resources, as they are among the most respected and internationally best-known speculators in the business. Doug Casey's mind-set and approach is something that, in my opinion, every resource investor should try to emulate. Doug is convinced that "the best juniors in the current market will make 10-baggers or more" (i.e., gain 1,000+%). Rick Rule agreed with him, stating, "If the current companies can survive until the next turn in the market, they will be rewarded with a triple."
But the star of the show was hands-down Casey's Chief Metals & Mining Investment Strategist Louis James. Louis isn't as glamorous as some of the other guests at the event—he's more the strong, silent type—but he'll give you the no-nonsense details of the business and the current opportunities in the resource sector.
In his interview, he announced that he has identified nine top-quality junior mining companies that he believes are ready to become 10-baggers as the market tides are turning. You can find Louis' 10-Bagger List for 2014 in the February issue of the International Speculator that was published just last week.
Our colleague Dennis Miller recently wrote this about Louis:
"Louis James is a guy who wants to avoid coming across as a 'marketer,' because for many there is a deserved stigma attached to that. Yet I watch him be himself, and the sincerity and concern is such a positive. There is no doubt in my mind that he is concerned for his subscribers and believes this is shaping up to be a once-in-a-lifetime opportunity."
I agree with Dennis 100%, and I don't know of another research firm that has ever put together such a stacked group to educate their viewers. You get what back what you put in, and this event, which basically sums up over 200 years of successful resource speculation and investing lessons in a one-hour video, is a must-see.
One of North America's largest salesmen of mining equipment, and a very smart and successful investor in the junior resource sector, sent me a note after watching Upturn Millionaires, saying that he really enjoyed the event and liked to hear the different perspectives. He's retired now, but like most successful businessmen, he still works all day and also sits on the board of mining company Copper Mountain with me.
I didn't even know that he had registered to watch it, but reading his email, it hit me that if a multimillionaire who has spent 50 years in the mining sector and has made a fortune in the junior resource sector watched the event and enjoyed and learned from it, anyone even remotely interested in the resource sector owes it to himself to watch the video. It's free—so all you need to do is watch and learn. I know I did.
Click here to watch the video recording of Upturn Millionaires now. Or, if you can't wait to get Louis' 10-Bagger List for 2014 and start profiting from the incredible companies on it, sign up for a completely risk-free 3-month trial to the International Speculator right here. You have nothing to lose—love it or cancel within 3 months and get all your money back.
Additional Links and Reads
World Media Hating on Russia
There are many stories out there about how Sochi is so not ready for the Olympic games: media hotels without running water, lobby floors, light bulbs, or doorknobs; bees in the packaged honey; etc. (some hilarious tweets with pictures here). Even the cover of the Economist got into the game.
According to media reports:
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The Olympic flame went out 44 times
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There's been a mass campaign to "dispose of" stray dogs
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The town is filled with construction debris and unfinished buildings
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Athletes say some of the slopes are hazardous (top athlete Shaun White already backed out of the slope-style snowboarding event, citing too much risk of injury).
I spend a lot of my personal time studying Russia—even my wife thinks I'm obsessed with Vladimir Putin—but I'm not counting the Russians out yet. I will be watching this very carefully, but thought it was worth mentioning what the Western peanut gallery is saying about Russia's 2014 Winter Olympics. Some more here in this blog post, "15 Signs That Russia Is Not Very Ready for the Olympics."
