Summary
➡ The speaker believes that past data indicates Trump may win the upcoming election, despite controversies. They also suggest that the election’s outcome may not significantly impact the market, as both candidates are likely to continue spending heavily. The speaker recommends investing in Bitcoin, predicting its value will increase significantly due to ongoing currency devaluation. They also discuss the potential for a contested election, but ultimately believe it will not greatly affect the market.
➡ The speaker discusses the upcoming election, comparing the process to buying a newsletter subscription. They believe Trump has the momentum and predict he will win, but also acknowledge the Democrats’ strong election system. They criticize the mainstream media, predicting it will be the real loser of the election. The speaker also advises investing in physical gold and silver, and mentions the obsolescence of the U.S. strategic triad, suggesting investment in companies like Northrop Grumman and General Dynamics that will benefit from its renewal.
➡ The discussion revolves around the upcoming elections and their potential impact on the market. The speakers believe that if Trump wins, it could lead to a Republican sweep, which might initially cause market uncertainty due to his bold promises. However, they suggest investing in Barrick Gold and ConocoPhillips, as these companies could benefit regardless of the election outcome. They also discuss the potential for increased voter turnout and the role of social media in influencing the election.
➡ The text discusses potential market outcomes based on the results of an election. If Trump wins, private equity firms like Blackstone, Carlyle Group, and KKR could benefit due to less regulation and attractive taxation. If Harris wins, gold and other precious metals could increase in value due to the Democrats’ tax and spend policy. The text also mentions the potential for higher costs for traditional miners under a Harris administration, suggesting that streaming gold companies like Royal Gold could fare better.
➡ The text discusses the potential impact of a Trump victory on various sectors. It suggests that some items may become more expensive, but Americans mostly buy domestic products, so it won’t be a big issue. The text also predicts a possible decrease in gold prices and oil prices if Trump wins. It also suggests that tech stocks, particularly Lumen, could see a rise. The text also mentions the potential for a Trump win to boost the biotech sector, based on his previous term’s regulatory policies.
➡ The article discusses the potential benefits of a second Trump term for the biotech industry, including faster FDA approvals and improved tax incentives. It also mentions the possibility of investing in biotech companies with late-stage breakthrough therapies. The article then shifts to a discussion about the upcoming election, focusing on Pennsylvania’s political landscape. It concludes with a roundtable discussion about various investment strategies and the state of the economy.
➡ The discussion revolves around the shortage of copper due to increased demand and slow mining, the potential of defense stocks, and the importance of risk management in trading. The panel also discusses the potential impact of the upcoming election on the market, with a focus on gold and silver miners. They conclude by recommending viewers to check out Jim Rickards’ election warning and his suggested money move before Election Day.
Transcript
Welcome, gentlemen. I do want to make a quick note. We do have some people who may be joining this call in the middle of it. So if we, if we do that, we’ll be able to get their takes as well. So I really appreciate all your time. Guys, let’s go ahead and get started, because what I want to know from each of you, I’m going to start with you first. Alan Nuckman, I want to start with you first, and I want to get your take on who you think the winner is going to be after Tuesday votes are all counted.
And then what’s your, what’s your way to play it? So let’s go ahead. Let’s start with you, Alan. Well, I’m going to shift and kind of avoid your question. So obviously we’re talking about the uncertainty of the election, but there’s always uncertainty in the marketplace. But what’s unique about this situation is trading, slash investing, which are essentially the same thing, is all about risk control. It’s about executing a trading plan. But when you have something of this nature, it becomes a very binary event. So the advantages and the probabilities that you can play are really taken away and it becomes a 50, 50 thing.
It’s kind of an all or nothing thing. And that’s not a pleasant way for anyone to invest and, or trade. So you’ve got to think about it yourself. As a trader, as an investor, would you be more upset if you missed out on an opportunity because you were out, or would you be more upset because you got hurt because you were in? So you have to understand your psychology. The markets are always going to be here. There’s always going to be opportunities. Things have changed dramatically. Markets, you can make money up, down, sideways, short term, long term, there are plenty of ways to make money.
But what’s taken away here and what’s the worst part is the uncertainty. And this becomes, becomes a very, very binary event because you cannot control your Risk. Now to answer your question, I’m not going to answer your question. I don’t care about the president who’s going to become the president. I care about two things, price and performance. The S P is up 25% or nearly and it was up 25% last year. And it’s not my job. And I’m never going to be the guy that’s going to try and identify when a trend’s going to come to an end.
But at the same time you also have to have some selling mentality in anything you do. When are you happy with a profit, when do you lighten up on a position when you have some extreme, extreme gains, how do you handle those and so forth. So if you’ve got some built up profits and some positions, anything can happen. You don’t know what the catalyst could be to take that away from you. You want to make sure that you have realized profits, not unrealized profits that can go away. So those are a couple of things to think about.
And I always was been taught that presidents don’t make markets, presidents don’t break markets. And the trend still remains strong. We’re going to get another rate cut, we might get two more by the end of the year. So I don’t know what could knock the trend off regardless. Or irregardless is the word I like to use irregardless of who becomes a president. It’s all about price, performance. And I’m very impressed by every sell off. The market comes straight back. So every time the market sells off it comes right back and that’s an impressive performance. So the question is how to play.
The question is how to play in what sectors to focus on. So again for me it’s about risk reward. There’s a lot of stocks that have performed very very well. Are you the type of person that likes to ride on a momentum play and look for that to continue when there could be profit taking at any time or you like, are you the person that wants to look at something maybe hasn’t participated at the same rate and look for that to play catch up and a little bit of rubber band snapback. So the two sectors I’m looking at to summarize what we’ve got going here is I’m looking at, you know, one of the things I’ve been taught when you have a event coming up, try and dial out when in doubt.
Dial out meaning don’t focus on the short term, focus on long term. What could happen in the next months and, or years and Looking at that, I looked at the spiders, the s and P spider 11 sectors and the best performing, worst performing, the best performing obviously is tech. The worst performing sector has been the real estate sector. XLRE is what I’m looking at and I investigated this further. The last five years is up only 11% compared to tech, up 175%. And as interest rates come down that could unthaw the housing market, unthaw the real estate market that’s been stuck.
We’re trading at 45 or so right now. 50 were the highs back in 2021. A full V recovery. And what I mean by that is, I mean the drop that we had in the last few years on that old top in 2021 projects to move to 65, which is about a 50% gain. So XLE dial out on that. If you can look at a five year chart on that and compare that to the rest of the market. So I think there’s value there. I think the real estate market could get unthawed. It’s been very disappointing and downtrodden and nothing happening.
So that’s, that’s where I’m seeing the best risk reward compared to the S and P. So S and P in general, number two is, you know, really no matter who wins, I think the oil market is undervalued. I think the P e of the XLE which is the oil ETF being around 8 or 9 compared to the rest of the market being a 21, they’re half that offer some value and crude’s been between 65 and 85. I have been disappointed over and over and over and over on possible bull breakouts because crude’s the only market that hasn’t participated in this overall bullish rally.
But a breakout above $0.85, crude oil to 105, that would be bad news. Maybe psychologically, maybe your gas prices would go up a little bit. But I’m in Wisconsin right now and the price of gas is down here near $2.50. So there’s, we’re still at extremely, extremely cheap, cheap prices. And when crude oil was above at 100 from 2011 to 2014, the S&P moved up 35%. So there can, they can both move in tandem. And I’m, I’m very optimistic and bullish on all markets. So that’s, that’s where I see the opportunities. Alan, that was great. I don’t appreciate that you didn’t give me the pick that I wanted, but that’s okay.
I’ve come to, I’ve Become to grow accustomed. I will tell you one thing. It’s, it’s like calling a recession or it’s like that doesn’t make you money. What’s important here is how the markets are going to perform. Being right, and I know you hate to hear this, being right is not why we do this. We do this to make money 100%. No, Alan, you’re very consistent on that. And those are two great plays, xlre and xle. They both seem to have under underperformed the S and P over the last five years. So it’s kind of a little bit of a value play for you.
And that looks really good. All right, I’m going to stop my share here. All right, thank you, Alan, for that. Let’s move over to our, to our newest analyst, Enrique Ibeda. Enrique, how are you? And good to see you again. I’m going to pose the same question to you and I’m going to see if you can not dodge it like Alan did. I would like to know who you think is going to win coming out on Tuesday. And then what are you looking at right now that has your interest based on that, on that estimation? Yeah.
I will answer your question very directly with my own amateur political analysis. But I did want to add one thing. I couldn’t agree with Alan Moore about his analysis of the trend and the fact that this election won’t ultimately change that trend. So, you know, I do feel very strongly that Alan’s conclusion and point is a very powerful one in regards to the election. You know, look, we look at the data. You take, there’s the saying that past performance is no indicator of future performance is actually not true in physics or in life. You know, we have data and it certainly evolves.
But the best thing we can do is look back at the past data to try to make a conclusion about what will happen next. Historically, in two elections, Trump has under polled, not over polled. So we’re two for two there. We’re going into this election and despite the controversy, we’ll say over the betting markets, the polls either have Trump even or up slightly on Pamela. And so I would just stick with that. I also think, and this is not meant as a moral, philosophical or political statement, that having a woman of color as the first elected president, I think there will be a portion of the electorate that will say they will do one thing and not do that thing because of just history and all that.
And again, I’m not making any moral comments here one way or the other. What I’m saying is I look at the data and Trump’s under polled and he’s pulling even or up right now. So I’m going to go with that. And second, I think that there’s just, you know, there are groups that have long term biases and I’m going to be surprised that the combination of those two events will have Trump not moving forward as the next president. Now I’ve got you have any questions, Doug, or go to the next. No, no. Thank you for the, for that and yeah.
So let’s move on. So assuming that that is the case, what sectors or what plays are you looking at to trade coming out of the election? I’m going to that now. I’m going to go somewhat contrarian too. You know, I’m not a contrarian by nature. I actually believe in following trends to make real money. But I will say as a trader, I am a contrarian, that when I see everyone leaning to one side of the equation or one view, I wonder how much has been discounted of that view. So what I would say is the strong consensus at this point is that this will be a contested election, highly contested, could take days, could take weeks, could take months.
We’ll go to the courts, et cetera. I don’t know. I don’t necessarily disagree but getting to Alan’s point, I don’t think it’s going to matter. You know, I remember Gord Bush and the hanging chads which took three months. Now that was in a very different market environment. We were already in the correction there. But as much, you know, we are more politicized or you know, perhaps polarized today. But we survived that just fine. We survived this. You know, even with Biden, Trump, people forget that it was three days before we, we knew. So I’m going to come out and say that I think the election’s a big nothing burger.
You know, both, both candidates have said where the punch bowl is out. We’re going to spend as much as we can on as many things as we can and I’m going to hold them to their word. Gold seems to agree and other precious metals. So my contrarian view here is I don’t really care about the election. I fundamentally agree with Alan but I actually think this election in particular, it’s just going to go off. It may take three days, it may take three weeks. It’s going to be a non item issue in the election. So that doesn’t mean I don’t think there’s a very interesting way to make money.
And but I’ve Got one trade for both candidates that I think works. Both which will also be contrarian. I would buy bitcoin. You know, I think that gold is leading. Gold is telling us that both candidates are just going to spend to infinity. You know, again, I’m data oriented. Past is future. They’ve been spending to infinity. I see no reason for them to stop spending to infinity. There’s no, no member of any parties that have any power that are going to stop, stop that. So I think that stores of value will continue to gain value as we devalue our currency.
I think this is a process that doesn’t break for decades, maybe not even in my lifetime. I’m not that young, but I’m not that old either. And you know what I think happens here is I think that bitcoin is going to be pulled up by gold. Gold is actually leading bitcoin. And there are significant portions of the population, especially globally, that believe in bitcoin as much as they do gold. You know, my favorite statistic, and I like gold, don’t get me wrong. But you know, gold grows 3% a year. We got 7.23% growth left in bitcoin for the rest of eternity.
So, you know, in two years, gold’s gonna go. And when gold goes up, guess what? More gold comes out of the ground because people are making more money. That ain’t happening with bitcoin. So, you know, I think that there’s a lot of angst around this bitcoin move, you know, that, oh, Kamala wins. It’s bitcoin’s going to get crushed and all that. I think that you’re going to see the opposite. I think, you know, a bitcoin consolidates and then it moves in a stair step function. That means when it breaks out, it doesn’t go from 72 to 74, it goes from 72 to 90.
So I’m going to say, you know, into your end, Bitcoin, 100,000. You know, I think we got a solid shot now. You know, maybe it’s January 22nd, I don’t know. But you know, I like that trade either way. And I think the markets are again, I listen to what the markets are telling me. Gold and silver and palladium and platinum, they’re all. Bitcoin itself is telling me this. They will spend either one that we absolutely know it. And I think bitcoin, when I say catches up with gold, it’s still higher than gold year to date, it’s still up like 70% versus gold 40.
But I think the near term charts rally and I’ll say Not only Bitcoin, 100,000 Bitcoin, a million. I’m not, I don’t believe in maximalism. I don’t care about any of that stuff. You don’t use bitcoin for anything else than an asset. But you know, we’re going to 100k and then we’re going to a million after that. Well, I was wondering where you’re going to go with the actual price of it. I saw someone post something in our internal channels here at paradigm saying $279,000 bitcoin next year. I know some people like Michael Saylor and others have come out with much larger numbers, but 100,000 by the end of the year.
Yeah. Can I give you one piece of data because this is all like, you know, I won’t say, kind of made up. If you were to take bitcoin and put it at the same market capitalization of gold where it is today, the price would be $989,000. So you know, I’m not saying gold’s going to stay where it is today. Gold probably goes higher. But do I think bitcoin sometime in the next 10 years will be worth what the market cap of gold is considering? Gold will grow 40, 50%. Bitcoin will grow 7. I do and therefore I’m going a million bucks on bitcoin.
I love it. Enrique, thank you very much for that. All right, so that’s a Trump contested win, but a Trump win and bitcoin. And we got even got a price target from Enrique for 100 grand on Bitcoin. I know a lot of people will be happy with that. Before we get to our next guest, I want to welcome Sean Ring to the show. Sean, good to see you. Welcome. Glad you can make it. That’s all right, that’s all right. Glad you’re here. What we’re going to do, I would like to move next. Byron, I have a rule.
The man with the oil derricks in his background gets to go third. That’s a very hard and fast rule. Everyone knows that about me. So Byron, let’s go with you next. Give us your take on the election. Who you think is going to win in the sectors that are going to benefit most as a result? Yeah, I. Those aren’t oil. Derek’s. Those are the head frames of the mines, of the copper mines of Butte, Montana. Of course I’m working, I’m working remote. I’m very remote. I won’t tell you how Remote I am, but it’s measured in many thousands of miles.
Ben, it’s a pleasure to be here, and thank you everybody out there for watching. And Byron, I didn’t mean to offend you. I love oil derricks, too. They could easily be oil. Derek. Okay, all right, good. And it’s just. That’s the wallpaper screen that I have on my traveling computer. Okay, enough of that. Election. I used to think that, you know, election day was election day and people got elected, you know, and then through life and experience, whatever, I learned that, you know, election day is just the day that they start to count the votes because you win or lose your election in the months and the, you know, the weeks and the months and even the years ahead of the election.
You know, in terms of the preparation, plowing the ground and everything else. You know, candidates go out there, they introduce themselves to people, people get to know them, you get comfortable with them. And, you know, it’s a lot like buying a newsletter subscription. You know, you people out there in newsletter land, you know, you buy your subscription one at a time as far as we’re concerned. You know, you. You listen to us. You think, okay, these guys know what they’re talking about. You lay down the credit card and you buy the $49 a year subscription or whatever else you buy.
The more expensive one. Same thing with politicians. You know, people get comfortable and they say, yeah, okay, he’s all right. Yeah, she’s all right. Oh, man, no way. Not voting for that person, you know, and there’s an element of religion to it in the sense that, you know, you’re born Catholic or you’re born Jewish, or you’re born, you know, you’re born Democrat, you’re born Republican. You know, maybe you. Maybe you leave the fold. Maybe, you know, you see the light, whatever, and you go over to the other side. But anyhow, this has been the strangest election I’ve ever seen in.
In many years that I followed going back into the 60s, which gives you a hint of, you know, how the data. My driver’s license. The person who has the momentum, the person who’s, you know, just mopping the floor right now with the other is Trump. You know, I mean, serving French fries at McDonald’s and driving the garbage truck and I mean, holy smokes. I mean, the other side has just dropped the ball big time when it comes down to who’s got the turnout machine, who’s got the momentum. Trump seems to be that way. But at the same time, the Democrats have a system they have an election system and they’re very, when they talk about our democracy, they don’t mean our democracy.
They didn’t mean their democracy. They mean the system that keeps them in power most of the time since 1932, you know, I mean, I mean, this is, this is a very Democrat oriented theme in American history for the last, you know, almost, you know, 90 some years. 92 years. So anyhow, if you want to know who I think is going, I think Trump’s going to win. It’s going to be, it’s going to be squeaker here, squeaker there, he’s going to blow out here, blood there. Lots of surprises. The down ticket races are going to be horribly mangled with, you know, with all the mail in voting and, you know, the midnight, the midnight ballots and all these, you know, I mean, I’m from, from Pennsylvania.
Don’t tell me about midnight ballots. I could tell you stories, you know, and so, you know, I think the Senate’s going to go Republican. I think the House is going to be close. Deep Republican Trump. Yeah, probably. If it isn’t, there’s going to be a problem here because you know who the real loser of this election is? I mean, they’ve act, they’ve just been smashed, crushed into the dirt. People hate them, they despise them. The loser of this election is the mainstream media. Because if you’re conservative, you have long, you long ago gave up on mainstream media.
You’re like, oh, yeah, New York Times, Washington Post, CBS News, you know, who wastes their time reading that stuff? Although I do read the New York Times. I read the Washington Post so that you don’t have to. Okay, I mean, you know, you know, Paradigm Subscription, you know, I read it so you don’t have to. I read it like when back in the Cold War, I would read Pravda, you know, in the Soviet newspaper. Just, you know, what are they saying? What are they lying about? What are they, what if whatever they’re lying about is important? You know, so the loser is the mainstream media coming out of all this.
You know, the conservatives are going to be confirmed that the mainstream media hates us. They think we’re garbage. Everything else, you know, the, but even a lot of Democrats are starting to say, oh, I can’t, I can’t trust this media. They’re, they’re wrong. You know, so there’s going to be a lot of confusion in terms of where do we go now? Because where do we get our news? You know, we get our news from lots of sources, but the mainstream media is the big loser here. And, you know, whoever winds up, you know, in power, we will see.
You know, it’s not, you know, if Kamala is not going to be the president, she’s going to be the person pretending to be president, being puppet stringed, you know, with their 15,000 Democrat appointees staffing the government, you know, Trump, he will be a president, he will be presidential, but again, he needs 15,000 appointees to staff, you know, his government. Where’s it all going to go? Okay, that’s, that’s sort of the long answer to that question. Who’s going to win on Tuesday? You know, okay, as far as what section, what sectors are going to do? Well, everybody out there.
If you do not own Physical Gold and silver yet, the hell have you been waiting for? Okay, I’ve been doing this for 22 years, since Bill Bonner published my first letter to the editor in the Daily Reckoning. I have never had a week or a month or whatever where I didn’t say imply whatever. Buy gold, buy gold, buy silver, whatever. If you had bought gold or silver any point at all in the last 22 years, unless maybe like in the last few days when gold took a little slide, you would be up. Okay, physical go. So physical gold, physical silver.
If you don’t have some, get some. If you don’t want to get coins and all, buy into, go, go to Sprott S P R O T T Sprott. Physical Gold. P H Y S. Physical Silver. S I, L, V. Go get that. You know, I mean, it’s. They, they have real gold in a real vault in the Canadian Mint. There’s your gold. Okay, you know, you know, get physical, as the song says, you know. You’re not going to sing to us, are you? You’re not going to sing to us, are you, Byron? I’m not going to sing to you.
No, no, no. Okay, but look at that chart. I mean, come on, you know, come on. Where have you been if you don’t have, if you don’t own physical yet? Where have you been as far as. That’s so. Just right there. I’m just, just. Sorry to interrupt, but that’s a five year chart. That’s a five year chart. That, that is a long, long trend. Up and to the right. That’s beautiful. Yep. There you go. Okay, so now if you want something else, if you say, well, you know, gold, silver, you guys always talk about that. Tell me something else.
Tell me something I don’t know. Okay. Have you read the Rickords Strategic Intelligence newsletter for November, which just got published I guess today or last night, whatever, you know, Jim, Jim Rickards gives his talk about, you know, what’s going on with the election. Zach has a recommendation, Dan has a recommendation. I have an article. My article is all about the looming block obsolescence of the entire strategic triad of the United States. Our Minuteman missiles are out of date and 1960s era design. Those Trident submarines are coming to the end of their useful life. The air section, you know, the bombers.
The newest B52 bomber was built in 1963, you know, and you know, the B1s, the newest one was built, you know, 40 years ago. The B2s, the newest one was builtS, you know, 35 years ago. I mean, the air, the air cess part of the triad, the missile land based part of the triad, the sea based part of triad. It’s all block obsolescence. And the Defense Department has a huge multi trillion, trillion with a T program to build new stuff. Okay. And that’s whether it’s Kamala or whether it’s Trump. That stuff is going to have to happen.
We’re going to replace the missiles, going to replace the submarine, is going to replace the bomber. Who’s going to benefit? Well, you know, the big primes are, you know, I mean, Northrop, Northrop, Grumman, noc. Noc. Northrop is the big, you know, missile and bomber builder. You know, the B21 bomber and the follow on to the Minutemen and then General Dynamics is the big submarine builder for the next generation. It’s called the Columbia class of submarines. So I wrote about it just in this issue of Strategic Intelligence. Go there and read it. I give you a. I talk about nuclear weapons, but I talk about a recent visit to a Trinity site in New Mexico where they cooked off the first nuclear nuclear bomb.
But then from that I segue into, you know, the strategic triad. But anyhow, if you don’t have gold and silver, get some. And if you’re looking for something that’s sort of agnostic as to Trump Kamala but is absolutely going to happen in the next, you know, it’s a, it’s a generational thing. It’s going to be going on for the next 20 years. Submarines, missiles, bombers, military industrial complex. And if those are some names, if you just want an ETF or something, there’s five or six of them out there. SPDR and SPDR XAR I think. And oh golly, iShares is ITA, but I’ll be talking about it a lot in future issues.
So if you’re just bouncing around on YouTube and you’re not a subscriber yet, you know, go to the link and subscribe and you can read about it. Okay, thank you. Excellent, Byron. Yeah, thank you for that. And I don’t, I mean, boy, we’ve had a lot going on geopolitically in the last few years. I mean, we’re fighting, fighting, actually fighting wars in a few different, two different spots right now. And the threat of them just getting worse and worse is only going to help those companies. So those are good plays and that’s regardless of who wins.
So that’s a good, as you point out, that’s a good, a good spot to be in. All right, Byron, thank you very much. I’m going to move over to the man on the left of Byron for me, and that’s Dan Amos. Zach, you’re going to carry the water at the end of. Oh, no, you and Sean are next. So, Dan, I would like to turn it over to you. You, you write a lot with Jim Rickards, follow a lot of his stuff. You do a lot of his analysis for his trades and that sort of thing.
So what do you see happening in the election? Who do you think is going to win and what are the plays that have your attention right now as a result of that? Yes, this month marks my 10th year working with Jim Rickards and it’s been an awesome experience. And Jim has been uncanny in his ability to call elections ahead of time. In 2016, he predicted Trump would win. In 2020, he predicted Trump would win with, as Republicans likely suspect, you know, with the mail in ballot. And it was a very, very unusual election in the sense of we were all still locked down under Covid with mail in ballots and all that, you know, we haven’t fully adjudicated, you know, how, how it played played out.
But anyway, a lot of people have have suspicions about it, you know, and I don’t want to say anything that would, you know, get us in trouble with YouTube here, but, you know, he’s, Jim has a strong opinion now that Trump will win and I completely agree with him. I’ll just mention that, you know, he’s, he’s masterfully, as Byron said, handled the last couple weeks here with dominating the news cycle. His team has been very, very good at social media, including many people, the youth on TikTok and so forth just going viral there, which has completely offset the mainstream media, which, you know, when you look at things like the Joe Rogan show or the other podcasts he’s on, they’re 50 to 100 times the mainstream media’s audience.
So I think we will be surprised the degree to which he adds to the party in terms of in crucial swing states and urban areas. He’s going to peel off a lot of traditionally Democratic voters and they just. I’ll just add one more thing. You know, Tucker Carlson’s networks, we saw, I saw earlier this week, My Family Art of the Surgeon. It is a documentary. It’s just nothing but behind the scenes. It’s very recent, including the Butler shooting. And you see the way he interacts with the crowds and they interview a lot of his supporters. And he just has a way of connecting with his, with regular American people that you really don’t see among a lot of other candidates.
So I do think his, his quiet, you know, support in the polls will really cause a big surge in support. And I do believe about, was it 63% voter turnout in 2020, which was the highest since the Civil War. I believe it could be higher this time. And if he has all the enthusiasm on his side, I think he will actually take a lot of contested House seats with him. So I think the likeliest outcome is actually a Republican sweep. And surprisingly, I don’t think that’s initially bullish because I’ve noticed a lot of hedging in the 10 year treasury bond market.
People are very concerned, especially globally, about everything he’s promised. And you know, it’s his classic style to promise a lot and then, you know, work from there in his negotiating style. You know, he’s promised a lot of tax cuts and tariffs and he wants to do, has a lot of big bold ideas that would really transform the tax system. But one thing that bond holders don’t like is, is, you know, unending deficits or an acceleration of that that begs the question of, this is very, very complex. So multiple dynamics here. Then the Fed would react by saying, and you know, the J.
Powell Fed right there, they’ve got their narrative on inflation. They may say, oh boy, this, this could be very inflationary. If there’s Republican sweep, we’re going to have to take out some of those rate cuts with our speeches. Right. And I don’t think the stock market’s going to like that. So I would say in that environment. So two picks here, two of them are Barrick Gold, which just went out to Strategic Intelligence readers today. It’s a gold mining stock. Gold is the ticker. This is a company that I think could win under either scenario. You know, if, if I’m, we’re surprised and Kamala does win, I just think either way gold’s going higher because we really have, under either candidate we have, I think, difficult decisions to make regarding the fiscal situation in the country.
The biggest surprise in the past couple years in the macro economy has been the deficit blowing out at 6% of GDP. This is, this is wartime level deficits in a full employment economy where you know it. And it’s remarkable that the only, the only thing that’s kept the market up has been everyone’s expectations. And you know, that the economy’s great, but in the short term a blow it out deficit stimulates the economy. In the long term it makes it more dependent upon government and so forth. So the end result of all this is, and under both candidates is more pressure will come on the Fed to regrow its balance sheet and to monetize a lot of this debt.
And I think this is very bullish for gold. I like this stock because despite gold’s steady bull market, it’s been very, very orderly and we have not seen participation among western investors yet. I think that could get, that could change rapidly and the stock could go up, you know, 50% by early next year and probably triple or quadruple over the course of the next four years. And a second idea would be ConocoPhillips cop that’s also in the strategic intelligence portfolio. And it’s a very well managed oil and gas company. They’ve got a willow project in Alaska that’s very exciting and they’ve got a lot of great acreage.
So it’s about half and half oil and gas. Natural gas has a lot of upside potential if we have a colder than normal winter as we steadily build out LNG and export it overseas as a lot of data centers. Really like it’s multiple years to get nuclear hooked up to data centers. So in the short term they’re hooking up natural gas generators. The quickest way you can spin up electric generating capacity in this country from a permit basis is through natural gas fired plants. So I do think natural gas could surprise on the upside in the next few years.
And with that I’ll turn it back to you and see what the other guys have to say. Okay, so we’ve got GLD and cop, right? Or is it G, not gld, it’s, it’s gold actually. Right, Go L D. Barrick gold. Barrick gold. Okay. Yeah. I mean and looking at that Barrick chart, I mean we’re, we’re at gold at all time highs. And that thing hasn’t even hit a five year high. So it seems as though, and I’m no analyst, everyone here knows that, but it seems as though there’s a lot of room to run when that thing when, when as gold continues to climb higher.
And I think Jim’s called for what, 3,000 gold by the end of the year. Is that right? Yes, absolutely. And what’s, what’s gone up a lot faster than the stock price is its earnings estimates and I still think they’re too low for 2025. Fantastic. All right, Dan Amos, thank you very much, sir. Zach, you are now on the clock. I want to know. Zach’s right down in, right outside Atlanta, not too far from our good friend James Altiter. Zach, what are you seeing? Who’s going to win and how are you going to play it? So I do think that Trump is going to win.
I think that some people have made some good points about how he pulls light because it’s kind of embarrassing in some circles to say that you’re voting for Trump. So he may not be the socially acceptable choice, but a lot of people understand some of his policies, even though his personality may be difficult to stomach. His policies are pro business, pro jobs and should be relatively good for the economy. I do agree with Al Nutman and this hurts me to say that, but, but I agree with Alan in the sense that this isn’t choosing, we don’t get paid to choose the election unless you’re on Poly market.
But even then it’s, it’s not the same as, you know, a large, long, long term investment profile or a long term investment or long term trading plan. And so I do think that we need to look at both sides of this specific event and say, you know, how can I make money if this happens and how can I make money if that happens? So I don’t want to bet the farm on Trump, but I do think that that is a more likely outcome than Harris at this point. But let’s think about two, two different areas of the market.
One that could do well if Trump wins and one that could do well if Harris wins under Trump. I really, really like the private equity industry right now and that would be companies like Blackstone, Carlisle Group and kkr. And the tickers for those are BX for Blackstone, Bravo X Ray, cg, Charlie Golf for Carlo Group and then kkr. What is K, Kilo, Kilo Romeo. So those, those companies, they basically are big institutional investors. They typically take in money from endowments, retirement Funds, big investors put their money with kkr, put their money with Carlisle Group, and then Carlisle or Blackstone is required to invest that money.
Now, the really cool thing about this business model is that Blackstone will make money regardless of whether the investments go up or not, because they charge a management fee on an annual basis for just managing that money. But if the stock, if the stocks that they invest in or the private companies they invest in or the real estate they invest in does increase in value, and Blackstone sells a company at a, you know, at a profit, Blackstone gets to keep 20% of those profits. So they’re not harmed if their investments go down, but they do make money if their investments go up.
I mean, wouldn’t we all love to be in that business where you make money if you’re right and you don’t lose money if you’re wrong? That’s the business that Blackstone, Carlyle Group and KKR are in. Now, here’s why I think they make sense in a Trump environment. If Trump wins, it’s going to be pretty positive for the markets. I think we could get a bit of a sugar rush for a week, a month where markets trade sharply higher because there’s less chance for regulation, because investors are more likely to be taxed attractively. And so that could drive the market higher.
If the market is higher, that means that Blackstone, Carlyle Group and KKR can sell some of their investments, maybe their private companies that they own, that they could list on exchanges or even existing companies that they have that are already trading, they can sell some of their shares and they can recognize those large profits, the 20% of their investors profits, and then in turn send out dividends to their investors and so forth. Another reason why these companies would do really well under the Trump administration is because carried interest. One of the ways that these companies continue to hold on to money instead of having to pay taxes as their stocks move higher will likely continue under the Trump administration.
So they’ll be taxed more attractively and that will help their stocks to move higher as well. So private equity should do very well under the Trump administration, under the Harris administration. I do believe, like several other on, on this call, that gold will trade higher. Gold, silver, other precious metals will trade higher. A big part of that is the tax and spend policy of the Democrat side. And you can talk about whether that’s good or bad for social issues and so forth. But from a pure economy side, then Democrats tend to tax more, to spend more, and I know Republicans are spending as well.
And I know that, you know, there’s. There’s irresponsibility on both sides of the aisle, but it’s accentuated under, or would be accentuated under a Harris administration. And that would drive down the value of the US Dollar because there’s. You’re either going to have to inflate that debt away or you’re going to have to figure out some way to default on the debt. But it’s going to be hard to continue to pay down the debt. So deflation in the dollar simply means that the price in dollar terms of these precious metals will move higher. Now, I don’t want.
Well, I do. I do want to own physical gold, so I’m not going to contradict Byron at all. I think that’s a great way of doing it. But there’s. There are some other ways to play it. And traditional miners may be under a little bit more pressure than you might think, because under a Harris administration, the, the price of gold might move higher, but also the price to get to that gold could move higher because the cost of fuel, the cost of labor, that could be a really, really big one. The cost of importing, you know, who knows exactly how that would work.
Many of the other. And even regulation just would be a headache under the Harrison illustration. So miners themselves may wind up with much higher cost to go alongside the higher profits or the higher prices for selling gold. But some of these streaming gold companies who already have agreements in place that say I can buy gold at a specific price, so they have an agreement in place that they can buy gold at $500 an ounce or $1500 an ounce or $2000 an ounce. They’re not as hurt by regulation, they’re not as hurt by higher costs, but they do still get the benefit of higher gold prices.
So I like Royal Gold, which is ticker rgld. It’s one of many streaming or royalty companies that can make money with higher gold prices and aren’t hurt quite as bad by higher regulation or higher kind of extraction costs that may hit more traditional miners under a Harris administration. So all should do well. But I think some of the streaming and royalty ones will do the very best under Harris administration. Yeah, that makes a ton of sense, Zach. I mean, I’m looking at this chart compared to the previous goal chart, and it like when you’re pulling stuff out of the ground and you’ve got energy costs that are going through the roof, you got labor costs going through the roof.
Who knows what their electricity charges are doing? I assume those are also going up, not to mention insurance and those types of things. It’s harder to be a producer than it is to just be a streamer. So that makes a ton of sense to me. Thank you very much. Zach. We have two more people. We got Sean Ring, writer of the Rude Awakening. Every day we’re going to talk to Sean and then I’m going to introduce a quick special guest, Ray Blanco, who was not able to join us on this call, but he pre recorded his take on the election.
So we’re going to put that in here as well. So let’s start with you, Sean, though. Who do you think is going to win and how are you going to play it? And hello everyone, and thanks for tuning in. And well, you know, listen, I’m pretty naked in the root about who I’m supporting, even though I don’t have a vote anymore. But I do think Trump will pull it out. I think, interestingly with Trump, the one thing that he has to worry about right now are the one issue, female voters. You know, those women who aren’t actually dating any men who only care about killing fetuses they aren’t carrying in states they don’t live in.
And if he could get past that abortion vote, he’s going to be just fine. I think they’re the only people in the world who literally hate his guts right now. And funnily enough, that was Doug French had said that to me on a call I did for our Paradigm Press YouTube channel. And I was like, really? Is that going to matter? And I actually looked into it. What I do think that really is Trump’s only stumbling block. I don’t think the tariff thing matters even a little bit. And I might be disagreeing with some of you out there.
Sorry about that. But the reason why I don’t think tariffs matter is as a percentage of US GDP, tariffs are only like 27%. Okay. Tariff related trade like that. It is comparatively. These are staggering numbers. For a little country like Luxembourg, it’s like 388% of GDP. And for a powerhouse like Germany, I’m sorry, former powerhouse like Germany, it’s 99.88% of GDP. So there are countries that are screaming about this and are going, oh my God, you can’t do this, you’re going to wreck, yeah, America will wreck those countries a little bit more. But I don’t. To the American voter, you know, yes, some things will get more expensive, but most Americans buy American anyway.
And the domestic demand inside America is enormous. It’s just you know, it’s not something that America has to worry about. India is very similar. India has enormous domestic demand. You know, countries like Japan and Luxembourg in Germany, you know, they are all export related because nobody really buys a lot of stuff for their countries. They’re not really as much of a consumer. And again, as a percentage of GDP, consumption is 70% of US GDP where the rest I think of the G7 average is about 60ish percent. So Americans just buy a lot more and a lot more of their own stuff.
I also think it’s worth noting that, you know, the only reason why Donald Trump had a big party in New York City and let’s call it that because it was, is because New York is in play. And I think if he is able to, and I don’t know if he’s going to be able to, but remember, he’s a queen’s boy, all right, it’s his hometown and they treated him really shabbily for the past eight years. If he could flip New York City somehow. And maybe the Democrats don’t fiddle with those machines because they just assume that New York is going to vote Democrat.
He’s going to, it’s going to be Mondale, like blowout proportions for Kamala, which I would love to see. Now normally assuming a Trump victory, if you recall in 2016 when he won, the IWM took off. Okay, so mid caps were a huge beneficiary immediately because they knew he was just going to slash regulation. Now I would normally say we’ll just do that again, but since smci, which is super Microcomputer, the company that just fell out of bed because even their auditors would lie for them, is all right, they’re only 2% of the index, but it is the IWM’s biggest holding, which I think puts it at a disadvantage.
Now is this the right one right here? That’s the IW. I’m not recommending it. That’s what took off in 2016. But like I said, SMCI is their biggest constituent stock even though it’s only 2%. So I’m not sure it’s going to take off. What I do like though. Well, I’m sorry, what I don’t like. Let me tell you what I don’t like first. I don’t like gold at all right now, which is the weirdest thing ever because I am personally long all sorts of gold and silver miners. If Trump wins, do not be surprised to see a 10% correction in gold at least.
And the reason why I Say that is because people are going to be offloading gold and getting back into the stock market. Kind of echoing what Zach said. Like we could see a really sharp pump in the equity indices and there were, and even I just did my monthly asset class report today. I mean, even though they had a terrible week, they’re still really close to all time highs and I still think the SPX is going to hit 6,000 real soon anyway. I think it’s just going to drip up there. But I would not be surprised if it got absolutely goosed on Tuesday.
I’m sorry, Wednesday’s trading session. If Trump wins. Sorry, I’m looking for my notes here, Jen. Sorry. There we go. So what I would say, if you can, and I know not many people on the call can do this, if Trump wins, I would short the living crap out of oil. I think oil is going to just die. I mean it’s the only reason why it’s at where are we 68 bucks a barrel right now is because we’ve got like two and a half wars going on and it’s just crap. It’s traded terribly, it looks awful. Every time it pops, it gets smacked back down.
And I think if Donald comes in and does all his negotiations, you know, you’re going to see a $50 barrel and people are going to go how do we have a $50 barrel in crazy inflation times? And it’s simply because the world economy is crap. And, and as you know, Matt and I have been talking about, they kind of been back and forth about this over the last year. You know, Matt says it’s, you know, that the, the, the huge supply of, of US shale, which I think is part of it, but I think now the crappy world economy argument is kind of outweighing that one.
So I think, you know, broad market text tech stocks will take off again. You know, it could be, you take your pick. My pick is Lumen, that’s L U M N. And the reason why I like Lumen is that its chart looks good. It’s, it’s already had a pop. It’s got partnerships with Meta and other firms and it looks like takeover bait to me. And it’s like I said, I like, I prefer cheap stocks rather than your chunky expensive stocks. So, so this is what I’m, I’m looking at. I think, you know, the technical targets on this is about 18 bucks, but it might get taken over before it even hits there, which would be from here a nice 150ish percent gain in a short amount of time.
So that’s what I got for you. All right, Trump and lumens. When you started saying Lumens, I thought you were going to say Lululemon, but I, I, I would love to test drive that, but I don’t fit in them. So yeah, $50 oil sounds good to me. I mean maybe we can, Byron, you could speak to us refilling our Strategic Petroleum Reserve, if that were to be the case. So be, that’d be a good buy low opportunity. I don’t think it’s full again, is it? No, the Strategic Petroleum Reserve is a, is a disaster. It’s 40% of what it was, you know, 40%, and, and that last 40% is almost unusable.
If you pull that 40% out, you’ll basically collapse the, the caverns. And so you know that, that, you know, so if we have cheap oil, you can expect, certainly under Trump you can expect government buying of both domestic and imported because you got to blend it, you got to blend the, you know, the heavy stuff from imported to, with the light stuff from the, you know, the shale oil and mix it all together. Otherwise it’s useless to the refineries. So Byron, just, just to throw out, I know we’re not into this part of the program yet, we’re not in the roundtable yet, but what’s the, what’s the other half of buy low? Ah, you sell high.
Yeah. Okay, that’s it. No further questions. Thank you. Yeah. All right. Yeah, so I think everyone would like to see $50 oil. That’d be great. We’ll see what happens. I have one other guest, I mentioned him earlier, Ray Blanco. He pre recorded this for us this morning. So let’s go ahead now and play raise take on the election and how he’s looking to play it. Hi everyone, Ray Blanco here with my prediction for the election outcome for 2024 and how you could play that. So I’m predicting a Trump win. His polling is much stronger than it was in 2020 and 2016 and as of now, the early voting returns are much stronger for Trump than they were in the last two election cycles.
So just to get that out of the way, I believe Trump’s going to win and it’s probably not going to be close this year. Now I think the biotech sector could see a lot of upside under a Trump presidency, and that’s just based on historical president from his first term. I mean he’s, he’s done the job before. If you look at biotech during Trump’s first Term, we saw it set record highs in the first couple of years after he came into office. You know, we saw biotechs move up about 40% and then, and that was before, you know, the COVID crisis, that after that they went even higher.
But that, that was for some unique circumstances, under more normal circumstances, we saw biotech do really, really well, you know, and that’s due to Trump regulatory policy, his streamlining regulatory policy across the board under his FDA commissioner, Scott Gottlieb. We saw the streamlining of drug approvals and in just in 2018, we saw 59 novel drugs approved, you know, more than double the approvals that we saw in 2016. And this really wasn’t about lowering standards so much as it was about removing bureaucratic, efficient inefficiencies. And I think that’s something we’re going to see even more in a Trump second term with a vengeance.
Give you a couple examples how that benefited biotech stocks. Let’s talk about Spark Therapeutics. This was a gene therapy company and their breakthrough gene therapy, Luxturna, became the first therapy of its kind to be approved by the FDA in 2017. That made Spark Therapeutics such a compelling value proposition that, you know, big pharma came in Roche and they snatched them up for $4.8 billion. I’m sure investors were pretty happy about that. But we saw other cases, you know, all my own pharmaceuticals. The company has been around for a while, but finally they secured their first ever RNA interference therapy approval during the same period.
So the improved streamlining of the fda, improved regulatory efficiency helped accelerate innovation. Of course, it helped accelerate profit as well. Because if you can get a breakthrough in your product to the market soon, then you can make money sooner. So these are the catalysts I think we’ll see in a second Trump term. Further, FDA streamlining, improved tax incentives for R D, continued support for breakthrough therapy designations, and possible expansion of accelerated approval pathways. We all know Trump has been a big proponent of right to try. He, he signed that in law. The, the woman that tweets on his behalf from time to time when he can’t do it himself.
Her life was actually saved by right to try. So we could see accelerated approval pathways under a Trump presidency. How do you want to capitalize? Well, you can invest broadly in, for example, the S P biotech index xbi, or you can pick selected companies, companies with late stage breakthrough therapies, companies with strong patent positions in emerging therapeutic areas, and small to mid cap biotechs with novel platforms that could benefit from these accelerated Pathways. So if Trump’s first term is any guide, biotech is going to do great in his second term and it’s going to be a great investment.
Anyway, thanks a lot for your attention. Nice to talk to you. Okay. All right. Thank you, Ray. All right, gentlemen, here’s what I like to do. We have a few minutes left. I just like to open up the, open up the table here, open up the room to see who has any comments on anything that anyone’s, any plays that any one of you have made or anything else about the election. I mean, I know obviously, Byron, you’re in Pennsylvania. That is, seems to be the place to be for the election night. What, what do you guys, what do you guys think in terms of Pennsylvania? Well, it, you know, it, Pennsylvania is two different states.
I mean, you’ve got, got sort of Philadelphia, Pittsburgh, a little Harrisburg, and, you know, Penn State, State College. Those are, those are blue areas and everything else is pretty hard red. You know, you go around Pittsburgh, Philadelphia, you know, Harris Waltz, yard signs as far as the eye can see. You go 10 minutes out of Pittsburgh and it’s just a sea of Trumpish red. You know, there are plenty of shenanigans that go on. I mean, I grew up there. I watched it happen. I knew political people downtown, you know, and, you know, this is sort of honest graft, you might say.
Well, you know, we just shade it one way or the other, you know, and they make sure that the right people win all the time. And so in Trump’s case, to beat the, to beat the, to beat the system, certainly in Philadelphia. But, you know, Pittsburgh, too, you know, he’s, he’s going to, he’s really going to have to get the turnout both there. But, you know, elsewhere in the rest of the state, again, we get back to these sort of momentum issues of the last couple of weeks. You know, serving French fries at McDonald’s, driving the garbage truck.
You know, things like, you know, the Madison Square Garden rally, which became a national, national event. You know, I, the, the people are just really excited. And then, you know, in the soccer, people have a term called, you know, own goal, where you kick the ball, but you kick it into your own net. You know, we could, we, people will write books for decades about how, you know, Kamala and her campaign dropped the ball. So, you know, I mean, you know, the. Trump talked to Joe Rogan. She turned him down. Trump went to the, to the, to the Al Smith dinner in New York.
Kamala didn’t, you know, I mean, just really dumb things. Which, you know, do not reflect well on Kamala, the person as a candidate. I mean. I mean, how. How bad of a candidate do you have to be not to go to the Al Smith dinner? You know, I don’t get that. You know, and so it’s just, you go there and you kiss the ring of the bishop and you. You give a speech, and it’s all written for you anyhow. All you have to do is read. You don’t even have to think. And. But no, she didn’t go.
And then. And Joe Rogan, I mean, he certainly humanized Trump. I mean, you know, sitting there talking for three hours, and then he talked for J.D. talked with J.D. vance for four hours. I mean, I would like to know what other politicians out there, Kamala or anybody else, I’d like to know where many, if many of them could, you know, sit there for three hours and speak intelligently. All sorts of things, you know, with Joe Rogan. Good luck. I mean, you make it. You make some good points there. Can I make a point? I want to make a counterpoint.
Absolutely. Alan, as a trader, your number one focus should be what if you’re wrong? Okay, what if you’re wrong? What is the worst case scenario? How does it impact you mentally and psychologically and more importantly, financially. So, you know, it’s not about being right. It’s always being positioned. So if you’re wrong, you’re ready to trade for another day. We’re not. We’re not gambling here. This is not Texas. Hold them. I don’t think anybody’s saying go all in on anything. We, you know, that’s. That’s not. That’s not proper money management. That’d be irresponsible. So, you know, I want to.
I want to point out, you know, that you always have to. I know it might hurt somebody. Think about what if you’re wrong on your opinion. And I’ve always said opinions are expensive. But what are you wrong and what is the worst case scenario? Because there’s always opportunities next week, next year, next, you know, 10 years from now. So being right on the election isn’t the end all be all. It’s about being able to make money for the long term. Alan, I couldn’t agree with you more. You and I see eye to eye on almost every single topic, on almost every single call.
You and I just. We’re just like some simpatico. That’s the word. Yeah. We were, you know, we were separated at birth. That’s what I’m trying to say. We all want to make money. And, you know, it’s, it’s fun. It’s funny that it really shouldn’t matter how we get there. You know, everybody can have any opinions, but opinions don’t pay the bills. Well, let’s do a quick roundtable. If you guys have a second, I would like to know, outside of the pick that you made, was there any one individual pick that you. That stood out to you, like.
Yes, that, that makes a lot of sense to me. So let’s start, let’s start with you, Dan. I mean, if anyone from any of these other plays, anything that’s jumped out at you, aside from your own, obviously that, that you wanted to highlight. Yeah, I would say Byron’s physical gold. If you don’t already own it, I would own it. One other point that hasn’t been made is the momentum in the real economy. And Jim wrote about this recently. The real economy is actually not doing well. Look at, for example, the jobs report out November 1st. It was way under expectations.
We have had seasonal adjustments that have jacked it up. And the trend is from the upper left to the lower right for guys who, like chart trends. This is happening at a time when we’re running 7% deficits to GDP. So that is why I like gold. Because historically, when the economy is slowing, when unemployment rises, you know, and the Fed responds with desperate rate cuts, which they might, you know, by early next year, that’s a perfect environment for gold. So I do think if Trump wins, like I said, you might see a spike in treasury bond yields, but you’ll probably see them go lower, you probably see gold go higher.
And I think, just generally, if I can give general advice, you know, the indices are driven by these Mag 7 stocks where we had, we just had a week of, you know, not so great earnings reports. So I don’t think the 20, 25 and 26s and P500 estimates are likely to be hit. So Trump has a few months, I think, to say, you know, Biden, this is the Biden economy. This is what I inherited, this is what I propose. And from there, you know, seek to build on that. Yeah. All right, well, that’s perfect. Thank you very much.
Byron, let’s go to you. Any other trades other than your own that or investments that, that stood out to you? Well, I think we need to, we need to look at other things in the whole rest of the world. I mean, I’m always bullish on copper. I mean, I mean, the price has gone down a little bit lately, but when we look at the out years. When we look at the demand curves of what’s going to happen just in the normal economic build out of everything, you know, building out artificial intelligence, rebuilding the grid for the us, for Canada, for the developed world, let alone building the grid in the rest of the world.
China’s Belt and Road Initiative, when we look, there is not enough copper to go around. And so the only thing that will happen is that, you know, I mean, old mines are closing down, new mines are not opening fast enough. We had a 20 year deficit of, you know, of exploration and development. So again, you know, look at the cop. The copper mining sector. Different than gold and silver. But there’s, there’s, there’s some, you know, great names out there, you know, Freeport McMoRan and you know, I mean, you know, you know, company like Rio Tinto, bhp, you know, I mean, those are the big guys, but we’ve got a lot of, you know, intermediate smaller ones that we talk about as well.
Right, that’s perfect. Thank you. I’m sorry. No, thank you. That’s perfect. Going back to the, like pulling stuff out of the ground. I mean, you’re a geologist. I mean, shouldn’t be surprised. All right. Enrique, do you have, were you able to pick out something that you thought might, that you agree with, from the, from the panel here? Yeah, I think the defense stocks are really interesting. You know, I think General Dynamic, gd, Lockheed Martin, whatchamacallit. What was the other One I had L3. Any of that? I think it’s, you know, they’re the, they’ve done well. The numbers have held in the charts look pretty good.
What’s interesting is they actually all just recently sold off. So I think, and not, I think it’s just earnings related. So. Yeah, I think the defense stocks are very interesting. Okay, perfect. Alan, you’re on the hot seat. Next. As much as, as much as I like to say it, Zach has got a great point. Let’s make money with people that are making money on money, you know, So I love, I like the idea of going after the, the Blackstone and the boys. So, yeah, I think that’s a great idea. And I’ll just, I’ll just finish up.
For me, it’s, you know, it is important what you trade, but it’s, it’s almost more important is how you trade and how you have proper risk management and how you handle positions when you’re wrong. We don’t want to be married to any one opinion or idea. It’s, it’s Being, well, being able to, you know, be on the right side with high probability over and over again for the long term. Perfect. Thank you very much. Yeah, following the guys, investing, the guys that don’t lose money. That makes sense to me. Sean, we’ll let you wrap up. What do you got? Which one stood out to you? Let’s talk.
Let’s say I’m wrong. Okay, let’s. Let’s do Alan’s thought experiment. Okay, I’m wrong. Great. Long gold and silver miners to the moon. Okay. I, I absolutely think that. And, and part of me, since that is my position, Mr. Duckman, you know, part of me little tiny bit kind of hopes K pulls it out, but, you know, I, I think if you get her in ju. Just because all the economists think that Trump’s policies are more inflationary, they’re always wrong, so probably hers will be more inflationary just because those Nobel Prize would have said so. So, you know, again, there are so many different ways to play that, but whether it’s Byron’s physical gold or you go to gold ETFs, or you play the miners like, like I’ve been playing them, you’re.
You’re going to be fine. If Caval gets it, you’re probably going to be more than fine. At least on an investment basis. I don’t know what your life’s going to look like. That’ll be a different thing altogether, but at least invested from an investing standpoint, you’ll be fine. Fair enough. Well, gentlemen, I just. Before we part ways here, I just want to kind of address the elephant in the room, the. The one man who we all look to when we’re talking about politics and election and, and how to play it. Jim Rickards, obviously, is not here today.
He couldn’t, could not make the call. But I wanted to offer up people the next best thing, because earlier this week, some of you may know who are on this call, Jim shared with his readers what he called his biggest reveal of his professional career. Now, I don’t know if that’s actually true, but that’s what he called it because he’s made a lot of calls over the years. He warned a lot of his readers and Americans about what he called an election conspiracy. And based on his review and his description of it, it’s going to affect everybody in America.
So if you haven’t seen Jim’s election warning, I suggest you do so before the polls close on Tuesday at the absolute latest. His warning includes some really important information to help people prepare for what’s coming next in a major change to his election meltdown thesis that a lot of his readers have followed him for over the last year or so. And he has a money move for people that they should make before Election Day. So what we did is we posted a link right below this video for you guys to check it out. It’s in the show notes, and I suggest you take a look at it.
It’s one of Jim’s most important reveals to date. So with that, guys, I just want to thank you all for joining us. Really appreciate your takes on the markets. Most importantly, as Alan has pointed out, it’s way more important than who wins the election. We’re here to help you make money. I just want to say thank you very much, guys. Thanks, everybody.
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