Stansberry Investor Hour

This week Extreme Value Editor Dan Ferris discusses a simple way to figure out where you’re most likely to succeed in the stock market and in life. Money manager Jesse Felder stops by to chat about how the Federal Reserve has distorted the financial markets, and why you shouldn’t wait until the recession to prepare your portfolio for the worst.

David Daglio, the chief investment officer and global investment strategist of wealth- advisory firm TwinFocus, joins the show. He kicks things off by describing himself as a contrarian, and he explains that understanding who you are as a person will lead to the best investing results. After, he goes into detail on how TwinFocus looks for creative "straw hat" solutions that the market isn't seeing. Plus, he talks about risk premiums, the current opportunity in natural gas, and the 30-year discount in gold-mining stocks. (3:29)

Next, David discusses the advantages and disadvantages of working at a large firm versus being an individual investor. He shares that individual investors have the advantage of not being overloaded with information, plus they're their own boss and can make their own decisions. David also details the three conditions TwinFocus looks for before jumping into an investment, the importance of recognizing your own intellectual biases, and how market skepticism can be a huge opportunity. (15:29)

Lastly, David talks about "net-net" companies in the biotech sector that are trading for less than their total assets... he breaks down what capital imbalance is and how to spot it... and he explains that the savviest investors try to be like Spock from Star Trek, valuing facts over feelings. (28:49)

Dan and Corey close out the podcast by discussing the Stansberry Research editorial meeting that happened last week. This meeting brings Stansberry's editors and analysts together to discuss different investing ideas and pertinent world news. One of the hot topics at the meeting was the presidential election in November. Dan and Corey emphasize that the best investors keep politics out of their investing decisions and stick to their core strategy regardless of which candidate takes office. (49:22)

This week, Extreme Value Editor Dan Ferris discusses unique thought patterns that can help you become an above-average investor. He also unpacks what’s next at Apple after a key departure and Tesla’s rush to a record quarter. Our guest, Chris Pavese of Broyhill Asset Management chats about a disruption in the car dealership industry he’s poised to pounce on.

On this week's Stansberry Investor Hour, Dan and Corey welcome Porter Stansberry back to the show. Porter founded Stansberry Research in 1999, and he recently returned as CEO and chairman of parent company MarketWise (MKTW). With more than 25 years of experience as a financial analyst and publisher to draw on, Porter shares his opinions on the current state of the markets and which areas of the economy look most attractive today.But first, Dan and Corey talk about investors' unfounded hopes for falling interest rates and some Wall Street analysts predicting that the Federal Reserve will soon cut rates by 150 basis points. "I just don't see that happening," Corey says. Afterward, the conversation shifts to the bond market, the drop in demand for U.S. Treasurys, China "imploding minute by minute," and the biggest "turkeys" who have made the most absurd financial decisions this year. Plus, Dan explores investor psychology and how it has been warped by a decade-plus of low rates and the longest bull market in history. (0:00)

Porter then joins the show and discusses why Ayn Rand's 1957 book Atlas Shrugged continues to be relevant today, General Motors' chances of going bankrupt again, and his "new, old" job as CEO of MarketWise. He explains his strategy for the company going forward. (25:08)

Moving on to the broader economy, Porter shares an updated prediction of what he sees coming for the market. In mid-September, he was concerned we were on the cusp of another major financial crisis. But now he thinks the immediate danger may be past. (42:34)

Porter also shares that most quality businesses out there trade for high valuations, but those with unrecognized quality still present fantastic buying opportunities today. Even companies that have recently made negative headlines can still have incredible underlying value.(48:48)

Finally, Porter details what's happening in the bond market right now and why he believes it's worth investing in. And you won't want to miss his parting message, where he explains why it's a great time to be alive despite any global issues or societal problems. "Most investors make the mistake of not being optimistic enough," he says. (57:35)

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 little extra leg work, many innovative small caps present a massive opportunity.

By the time the interview is over, Dan is left questioning if he has enough money in small cap stocks.

Then on the mailbag, Dan fields several questions from listeners about gold, including one listener who gives a fantastic real-world demonstration of gold's long term value. Another listener writes in and shares a story of remorse for selling his Bitcoin a little too soon. Dan gives him some words of wisdom and reassures him that "we've all been there."

Listen to Dan's response to these questions and more on this week's episode.