Sharing insights and analysis from the mind of the legendary resource and commodities #Investor and #Speculator for the Rick Rule fans. (Not the real Rick Rule)
Joined April 2022
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27 Jan 2024
"I have never seen gold stocks as cheap at today's gold prices as they are right now."
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“Despite the fact that you lose money doing it, you have to maintain liquidity, and that’s really expensive.
My savings are costing me probably 4% in purchasing power annually. I consider that negative yield to be an option premium on having the liquidity available to take advantage of a liquidity squeeze.”
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May 28
“While most #gold holders mourn the softness in gold, I would suspect that the real adherents welcome it.”
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May 25
“When I look at the #gold price in the context of my portfolio, it would take a huge increase in price to get me to sell.
Therefore, I don’t have any immediate interest in higher gold prices, but I do have an interest in lower gold prices because I’d like to buy more.”
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May 21
“When I look at the basket of goods and services that I consume, and I look at them in dollar terms, I’m horrified. And when I look at them in #gold terms, I’m amused.”
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May 19
“People have told me, ‘Rick, you’re so far up on your #oil equities, you need to sell.’ Why?
If I sell them, I pay capital gains tax, I shield myself from a downside which I feel is temporary, and I have to buy back in to participate in an upside that I think of as inevitable.”
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May 18
“Speculators and traders that believe they are smarter than the rest of humanity can do okay buying inefficient companies in melt-up circumstances, but most mortals, even mortals like myself who have studied and participated in the markets for 50 years, need to pay much more attention to efficiency and value than they do leverage to the #silver price.”
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May 13
“If you believe, as I believe that the U.S. dollar loses 75% of its purchasing power over the next 10 years - it is imperative that you consider putting some of your savings in an asset which has a millennium-long track record of maintaining its real purchasing power.”
#Gold
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“If you are involved in a circumstance where public opinion is broadly lined up against you, you’re almost certainly correct.”
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Apr 29
“In the decade of the ’70s, the #gold stocks outperformed gold two and a half to one, and gold ran 26-fold.”
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Apr 27
“35 years ago, anything below 1% #copper was considered waste, and the average mine grade worldwide was 1.5%.
The average mine grade, if I’m not mistaken, last year was 0.44%, which is to say the average mine grade is now one-third of what it was three decades ago.”
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Apr 22
“The lessons that I should have learned early, I learned after 10 or 12 years, very painfully. Natural resource-based businesses are capital intensive and cyclical, and when they’re doing extremely well, they’re getting ready to do extremely poorly. I unfortunately didn’t anticipate that; I experienced it, which was a truly ugly circumstance.”
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Apr 20
“Real estate measured in #gold is cheap. Food measured in gold is pathetically cheap. Health insurance and health care, measured in gold, are cheap. When, by contrast, I measure them in U.S. dollars, all of those things are frightfully expensive. That tells you gold’s true role.”
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Apr 16
“Japan built their nuclear fleet, the world’s third largest, in response to the Arab oil embargo in the early part of the decade of the ’70s, as did France. The lessons that were learned by those constituencies are being relearned now.”
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Apr 15
“#Uranium is the only power source that is dense enough for a nation like Japan, France or Korea to store 5 or 6 years of latent energy in a warehouse.
You can’t store that much coal or natural gas or oil; you certainly can’t store that much wind.”
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Apr 13
“It’s estimated by Codelco that the world needs one more Bingham Canyon every year for the next 10 years.”
#copper
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