Rick Rule: This Asset Class Is "The Cheapest I've Ever Seen It"

And he's had a very long career...

Well it's a new year.

And in just two weeks, a new American Administration as well.

What kind of impact will President-Elect Trump's policies likely have on natural resources, the "real things" that power the global economy?

To find out, we're fortunate to be joined by Rick Rule, one of the world's greatest living natural resource investors. And a heck of a gentleman, to boot.

Rick sees a lot of opportunity for investors ahead in oil & gas.

But the real deals right now are in the gold mining companies, which he reports are the most undervalued he's seen in his long career.

To hear why, click here or on the video below:

Here are the links to Rick's events mentioned in this discussion:

• https://thoughtfulmoney.com/rulebootcamp

• https://thoughtfulmoney.com/rulesymposium

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Adam’s Notes: Rick Rule (recorded 1.6.25)

EXECUTIVE SUMMARY:

• The global economy has shown remarkable resilience despite geopolitical challenges, including conflicts in Ukraine, the Middle East, and Africa. Strong capital inflows into the U.S. and a robust dollar reflect continued investor confidence, supported by easy credit conditions and low capital costs. However, concerns about future inflation remain, as prolonged monetary easing may lead to rising prices. The stock market's performance is also uneven, with gains concentrated in a few large-cap stocks, raising questions about the sustainability of the current economic environment.

• A shift toward maintaining higher liquidity marks a strategic response to current uncertainties. Proceeds from the sale of real estate were initially earmarked for reinvestment due to inflation fears, but the focus has since turned to prime-rate-linked loans and preserving flexibility. This approach mirrors Warren Buffett’s emphasis on patience and discipline in capital allocation, particularly in times of uncertainty and limited high-quality investment opportunities.

• The oil and gas sector presents attractive investment opportunities due to its historically low valuations and high cash flow generation. Sustained production levels and favorable fundamentals make this industry a promising area for capital deployment. Policy shifts in the U.S. and Canada, coupled with advancements in drilling technologies and infrastructure, are expected to