Stansberry Investor Hour

One year ago today, Bitcoin traded for around $5,200... Today, it's hovering around $58,000... When one of your investments has grown to a massive winner, what's the next step? It's a tough question that every investor needs to face on their own. But on this week's rant Dan looks back to the story of Robert Kirby and the coffee can portfolio, which suggests sometimes the best thing to do... is nothing at all. Then on this week's interview, Dan invites Jason Hsu onto the show. Jason is Chairman and CIO of Rayliant, an asset manager who focuses on generating alpha from investing in China and other inefficient emerging markets. Some asset managers tend to lean towards a quantitative approach... Some use a fundamental approach... Jason shares how Rayliant has blended the two into one in order to take advantage of the massive opportunity in China and other emerging markets.  During their discussion, Dan and Jason discuss the massive opportunity in China today... how the Chinese government's hands-on approach diffe

Is gold just another "greater fool" investment? Warren Buffett seems to think so. Or at least, he's said as much in his 2011 letter to investors, when he compared gold to the tulip bulb mania. On this week's rant, Dan examines this point of view and explains what Buffett doesn't seem to grasp when it comes to gold... Then on this week's interview, Dan invites Gregg Fisher onto the show. Gregg is the founder and portfolio manager of Quent Capital, an asset management firm focused on systematically investing in global innovation. Many guests on the show fell in love with finance and investing later in life... but that's not the case with Gregg. Gregg was born into the investment business and well on his way by the time he was a teenager. By the time he left college, Gregg helped pioneer some of the quant trading strategies that are so common in the industry today. During their discussion, Gregg explains why so many small innovative companies are often overlooked. But he stresses that if you're willing to do a l

It’s not the sexiest part of the market, but Dan decides to break down bonds. If you look at the benchmark ten-year bond treasury yield, it has tripled since last year. Does this mean the bond rally is over and we’ve topped out at the bond market? Or is inflation finally kicking in as yields climb? Bond interest rates are the lowest they’ve been since there’s been data for this, and if the Fed keeps trying to stabilize and suppress rates, printing endless cash and buying new government debt, the more dire the economic consequences will be. They should just let the market adjust naturally, or we’ll have 2008 all over again. Dan’s guest this week is Chris Retzler, a portfolio manager at a small-cap growth-fund for Needham Funds Asset Management. His fund thrived during the bear-market bottom, nearly doubling. Retzler’s forte focuses on nurturing long-term relationships with his portfolio companies’ management teams and seeking out undiscovered investment opportunities. The appeal of small-cap stocks is the room

Well, the market proved Dan right yet again. ARK Investment Management, CEO Cathie Wood, and their ETFs lost three out of their 60 billion last week -- Dan knew from ARK’s ballistics charts that the stock seemed to be topping out. While he applauds Cathie and her company for getting into the disruptive tech game in 2014, he knows that Tesla and Bitcoin (part of ARK’s ETF bundle) remain hot stocks that are way ahead of themselves -- and too easily swayed by an Elon Musk tweet. Everyone wants to be in the market right now, but when stocks top out like this, Dan likens it to people contentedly queuing up for a Broadway show, only to be slaughtered once they get inside. Or, in other terms, be cautious right now, investors. Dan’s guest this week is Yoav Sharon, a portfolio manager for the Driehaus Capital Management, in charge of investment research and securities selection. He boasts 16 years of industry experience and has been a senior member of Driehaus’ investment team for eight years. Event-driven investment

Is Bitcoin going to continue to climb, or has it already reached its peak? Dan reflects on the reflexivity of some of these gangbuster stocks. He also shares his must-read pick for financial history books, and not just for great topics of conversation at parties. Then, Scott Helfstein, executive director of Thematic Investing at ProShares, joins Dan to talk about the ever-evolving trends of ETFs. While Thematic Investing seems to have become a new buzz word, Scott argues that the term originated inside ETF trading and Thematic is just the next evolution. Scott also breaks down key sectors that he thinks were transformed by the pandemic in 2020. And finally, on the mailbag this week, Dan answers additional questions about Bitcoin and confronts a staggering accusation of not being humble. Listen to their conversation and much more on this week’s episode.

The Melt Up is upon us... Retail investors are getting rich piling into stocks, irrational exuberance is at dangerous highs, and all valuations have gone out the window.  But is this the big one? Are we seeing the Mother of All Melt Ups? Dan opens the show by sharing a few increasingly troubling news items that have him worried... Next, Dan invites Stansberry Research's, Eric Wade, onto the show for a conversation on all things crypto. Eric is an entrepreneur, investor, screenwriter, and editor of the Crypto Capital newsletter at Stansberry Research. Dan takes this opportunity to ask him all the beginner questions others are afraid to ask: What exactly is Bitcoin? What do I own when I own Bitcoin?  Won't the government try and shut it down?  If they can't do that, won't the government tax and regulate it to death? Could another crypto come along and replace Bitcoin? Eric answers everything Dan throws at him while keeping things simple. He stressed that you don’t need to have a degree in computer science to in

The GameStop rise has come and gone. Last week, shares for the retail video game store traded as high as $480... but over the past week the stock has plummeted over 80%. Dan examines the situation and comes away with some key takeaways about free brokerage apps, like Robinhood, and who they truly serve. Then Dan brings the perfect guest onto the show to discuss the situation, legendary trader and market wizard, Chris Camillo. In 2007, Chris began his investing career by turning $20,000 into over $2 million, during a three-year period where you were lucky to make any gains in the market at all. Today, Chris is an accomplished author, investor, and entrepreneur who has been featured in Jack Schwager's book Unknown Market Wizards. Chris' trading style is pretty different than anything we've covered on the show before. Chris explains how he uses social arbitrage investing to try to get out ahead of new trends and identify early shifts in popular movements. Chris says he does almost 100% of his research and tradin

Five days ago, GameStop traded for less than $50 per share. Yet on Thursday, at the time of this writing, the stock has soared as high as $482.85... What on earth is going on? Dan explains what is behind the meteoric rise of GameStop, AMC, and a few other unassuming stocks in this week's opening rant. Then Dan invites a trading legend and "market wizard" onto the show. For decades, Peter Brandt has been considered one of the world's foremost authorities on using classical charting principals to trade futures, forex and even the crypto markets. Peter is also featured in the acclaimed book by Jack Schwager, Unknown Market Wizards: The Best Traders You've Never Heard Of. He's also the second wizard we've had on the podcast. Peter gives Dan an in-depth look into why the classical chart patterns don't seem to work anymore, and how Peter's adjusted his trading today. If you think of yourself as a trader, this is an interview you cannot afford to miss. And finally, on this week's mailbag Dan receives a great questio

Despite the multitude of problems facing our country, stocks keep moving higher and higher, leading more people to question if we're currently in a bubble. This leads Dan to explore two important questions. What do you do with your money when you know you're in a bubble? And what do you do if you know that bubble can last for years before popping? Then Dan invites Andrew Beer, Managing Member at Dynamic Beta Investments, on to the show to answer some questions about the world of hedge funds. Andrew joined the hedge fund industry in 1994 as a portfolio manager at Baupost for the legendary Seth Klarman. In recent years, Andrew's focus has been on how the hedge fund model can be improved based on liquidity, access, and cost perspectives. Dan and Andrew discuss his start in the industry and how things have changed over the past 3 decades. Andrew shares some of the reasons hedge funds have declined in popularity over the years.... and how his firm, Dynamic Beta Investments, is looking to change that. And finally,

Every year, the top resolution for millions of Americans is to lose weight and get in better shape. But the numbers show this is far easier said than done. So this week, instead of focusing on your wealth, we're taking a look at your health as Dan brings fitness guru and internet sensation, P.D. Mangan, onto the show. P.D. shares the story of how at age 50, he was frail, feeling terrible, and in general poor health. But today at age 65, he's in better shape than most 20-year olds. P.D. shares the shockingly simple way he did it – without the help of dozens of supplements or steroids – and without spending endless hours in the gym. P.D. is unique in that his advice typically goes against what many traditional health experts have been saying for decades. Today, he helps teach folks of all ages how to eat right, get stronger, live longer and win with science-based health and fitness. Listen to his discussion with Dan and more on this week's episode. Interested in more from Stansberry Research? Check out the Amer

As we start a new year, Dan is keeping up with his tradition of sharing his Top 10 Potential Surprises for 2021. Could one of 2020's hottest stocks take a big hit? Could we see a massive correction in the entire market soon? Could Bitcoin continue on its current pace or is a crash imminent? Dan covers these topics and more, sharing some huge surprises that would stun the investing world. And just like last year, Dan plans on coming back to these surprises later in the year to check and see if any of them come to fruition. Plus, Dan brings new guest onto the show, Christopher Mack. Chris works for investment management firm, Harding Loevner, where he started in 2004. Today he works as an analyst in Information Technology, a portfolio manager, Global Small Companies (Co-Lead), and as a Global Equity & World Equity Partner. Dan and Chris have a long in-depth discussion on opportunities they see happening in the markets in 2021. Chris also shares some helpful insights to be aware of that he's learned in his e

As 2020 draws to a close, it's time to look back at an incredible year of Stansberry Investor Hour interviews.  We're not just doing a simple year in review of the markets though. Instead, Dan and his crew took the time to gather up the very best clips from the most important episodes of Stansberry Investor Hour – ones that he says could have a profound impact on your wealth. It's an episode jam-packed with valuable insights from some of the biggest legends in the investing world. Dan recaps some amazing lessons he's found from some influential thinkers like Jack Schwager (episode 183), Annie Duke (episode 181), Raoul Pal (episode 140), Bill Browder (episode 153), John Stossel (episode 159), and many more... Plus, Dan takes a look back at some of the predictions made and how their advice would have panned out if you followed it over the year. It's the one episode this year you DEFINITELY don't want to miss. Listen to Dan's most influential interviews of the year on this week's episode.

On this week's episode of the Stansberry Investor Hour, we're doing something a little different. Long time listeners may remember that on January 3, 2020 (Episode 135), Dan shared with everyone his Top 10 Big Surprises for 2020... Well today we'll take a look back and see how Dan did. Why do this? Dan wants to hold himself accountable. Too often, financial media will just make claims and predictions all day long and never review them down the road for any sort of accuracy. At the Stansberry Investor Hour, we want to do things differently. So Dan wants to be 100% transparent. He covers exactly what he said at the beginning of the year and how those discussions look with the benefit of hindsight... including the topics he was way off on... and the topics he called with incredible accuracy.... It's an episode you won't want to miss.

On today's show, we're bringing in a very special guest... His investing roots run so deep, his family was the subject of the book, The Davis Dynasty: Fifty Years of Successful Investing on Wall Street. This week, Dan invites Chris Davis onto the show. Chris is the chairman of Davis Advisors, an independent investment management firm founded in 1969 with over $23 billion in assets under management. Since its inception in 1969, the Davis New York Venture Fund has outperformed the S&P 500 in 98% of 20-year holding periods. In fact, 4 out of 5 Davis equity funds have been the market since their inception. Chris joined Davis Advisors in 1989 and now has over 3 decades of experience in investment management and securities research. He's even previously been recognized as Morningstar Domestic-Stock Fund Manager of the Year in 2005. During their conversation, Chris shares his philosophy on how discipline in your investments is key to building wealth over time. And why his strategy has produced outstanding result

In a very busy year, Bitcoin has flown relatively under the radar... despite reaching all-time-highs at the beginning of December. Bitcoin is up around 152% year to date. We're steadily seeing higher highs and higher lows. So Dan brought Bitcoin Bull and legendary value investor, Mark Yusko, onto the show to discuss the rise. Mark is the founder CEO and Chief Investment Officer of Morgan Creek Capital Management, which currently has around $2 billion in discretionary and non-discretionary assets under management. He is also the Managing Partner at Morgan Creek Digital Assets... and has been very bullish on Bitcoin for years. He calls Bitcoin a "better form of gold, a digital store of value." Dan and Mark have a long in-depth discussion on the world's most popular cryptocurrency. Dan plays devil's advocate and grills Mark on Bitcoin every which way... What happens if the government tries to ban Bitcoin? What if someone wanted to hack the system, couldn't they steal all the Bitcoin? Won't some new innovation co

The numbers don't lie. Today the stock market is more expensive than it has been at any point in history... More expensive than the 1929 Crash or the Dot Com bubble... Even worse, rampant speculation is as bad as it's ever been. New investors are entering the market like never before, buying call options like lottery tickets. How do we make sense of this environment? Can you reap the big gains of a market like this while trading safely? Dan brings Jack Schwager onto the show to help tackle some of these questions. Jack is perhaps best known for his best-selling series of interviews with the greatest traders and hedge fund managers of the last three decades: Market Wizards (1989), The New Market Wizards (1992), Stock Market Wizards (2001), Hedge Fund Market Wizards (2012), and The Little Book of Market Wizards (2014). Jack has interviewed all of the greatest investing minds on the planet. During their discussion, Jack shares some of the most vital lessons he's learned from these titans, including what they all

Is the 'Fed Put' a real thing? On today's opening rant, Dan reads some excerpts from a Barron's article titled, "Yes, The 'Fed Put' Really Does Exist. That Could Be Bad News for Bulls." Dan examines the facts presented and unpacks what that means for you and your money. Then during this week's interview, Dan sits down for a conversation with Keith Kaplan. Keith is a veteran software architect with over 25 years of experience and is now CEO of Tradesmith. When he's not running his business, Keith speaks frequently for large groups of investors nationwide about the psychology of investing and how our behavior is the #1 factor of investing success. During their conversation, Keith shares a personal story of how developing factor-based investing software for Tradesmith helped turned his personal financial situation around. Before, Keith was deeply in debt despite a good job and growing salary. The situation was so dire, he had to borrowed money from his children to help pay off some of his loans. Today, he's prac

Over the last few years, there's been a few small headlines questioning if value investing is still viable... Now The Economist has published a new article on value investing that has caught Dan's eye. Dan digs into some popular value metrics and the future of the value investor and on his opening rant. Then Dan sits down for a conversation with Annie Duke. Annie is a former professional poker player who won over $4 million in poker before retiring in 2012. Today she is an author, corporate speaker, and consultant in the decision-making space. Annie and Dan talk at great length about her latest book, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts. Annie provides the listeners with a framework for making better decisions and producing more consistent investment results. Annie says by shifting your thinking from a need for certainty to a goal of accurately assessing what you know and what you don't, you'll be less vulnerable to reactive emotions, knee-jerk biases, and destructive h

On today's rant, Dan gives an update on some of the biggest investing stories still flying under the radar – the rise of Bitcoin, and the growing herd of zombie companies in the United States. Dan shares some facts from the Bank of International Settlements that'll make your skin crawl. Then on this week's interview, Dan sits down with Jim Masturzo, who leads Research Affiliates Asset Allocation Research & Trading Team. Jim oversees both the quantitative modeling used to manage the firm's portfolios and the firms daily trading efforts. Research Affiliates is an amazing website with free resources that can help any investor. During their conversation Jim discuss the firm's philosophy on investing allocation and risk, as well as new products designed to help investors meet their financial goals. And finally, on this week's mailbag, things get a little heated. Dan shares a couple emails from listeners giving their two cents on election fraud. One even challenges Dan and says his financial advice is in "dream

With votes still being tallied in several states days after Election Day, this race has been closer than many in the mainstream media expected. Our mailbag has been exploding with hundreds of questions from listeners about the impacts of each side winning could have on the markets. It's an extremely complex issue that could have big implications for you and your money. So Dan decided to bring in geopolitical expert, Marko Papic, onto the show for this week's interview to help him answer some questions. Marko works as partner and chief strategist at Clocktower Group, an alternative investment asset management firm where he leads the firm's strategy team providing bespoke research to clients and partners on geopolitics, macroeconomics, and markets. Marko is also author of the book, Geopolitical Alpha: An Investment Framework for Predicting the Future. Dan and Marko talk about the implications of a Trump victory versus a Biden victory, the likelihood of the Senate switching, as well as some industries that could