It was just under a year ago when I wrote my very first report on the SF Hard Assets Conference, and I must admit I’m feeling a little nostalgic!
I love the San Francisco Hard Assets conference.
As you know, I frequent a lot of investing conferences each year — in the past 12 months I’ve attended:
So, I guess you could say I am a bit of a conference connoisseur…I love them!
And in all honesty I love my life! I love traveling, love attending these conferences, love reporting on them for you, and each one has something special that recommends it and is why I attend.
(And there are many more that I would love to attend, but I do actually need to get some work and writing done, too!)
But there is something special about the SF Hard Assets conference…
Maybe because it was one of the first investing conferences I covered for Kung Fu Finance a year ago…
Maybe because of the ever-present beautiful “booth bunnies” at James Dines’ booth who single-handedly bring down the average age andsimultaneously up the female quota at the event…
Maybe because of the fascinating mix of honest, excellent junior mining companies headed by serially successful CEO’s contrasted with the slightly sleazy, slimy, shameless promoters who care only about how quickly they can line their pockets with your money…
(Yep, I even love the promoters, particularly since I am finally learning thanks to Rick Rule how to properly interview the CEO’s and IR guys and to separate the wheat from the chaff, and YES, I will teach you, too!)
Or maybe it’s because of the fact that I now recognize so many fellow investors and speakers that it’s like visiting with old friends, even though we only see each other from conference to conference.
(Or maybe I’m just a conference junkie!)
But whatever the reason, the SF Hard Assets conference rocks. 🙂
And the best part?
Yes, it’s a pitch-fest…but that’s the point of the conference—to allow you to talk one-on-one with the CEO’s of the various mining companies who are battling for your investment dollars.
It is so much fun to play “which one of these is not like the others?” (remember Sesame Street? see below…) and wander from booth to booth hearing the vastly different caliber of answers to your questions.
Plus, it is the hands-down best education you will receive on investing in hard assets, anywhere, for the price…did I mention, it’s FREE?
(Gee, maybe I should work for the SF Hard Assets Conference team! I swear I’m unaffiliated, but I can’t understand why more people don’t come to these…they are so much fun and nothing beats getting all of this info live and in person.)
However, the sad truth is that many people do not get out of their comfort zones and attend. I was shocked to see such a small crowd this year. I know the junior mining sector has had its, shall we say, “challenges” over the past two years…but I was still surprised at the lack of attendance.
To me, that spells a possible buying opportunity…and it does to Rick Rule, too, who gave two keynote speeches this year (which yes, I will share with you shortly—thank you Rick!).
The first was entitled “Bear Markets are Best”, and I will provide the audio and transcript of that speech for you soon (again, thanks very much Rick!).
To sum up, Rick’s main point is that bear markets are NOT bad (particularly when located in the midst of a secular BULL market)—they are your friend, because you can pick up quality assets on sale…the very essence of “buy LOW”.
We do this when buying a car, or a house, or cans of tuna fish (Blue light special! 10 cans of tuna for $10!) but for some reason when we buy financial assets we tend to want to buy them when they have already gone up tremendously in price.
Rick believes we are in the midst of a cyclical decline in a secular bull market…which spells a buying opportunity!
Other insights from Day 1:
All in all, my synopsis is that if you are interested in hard assets, the vast majority of speakers (I would go as far as to say “every single speaker except Paul van Eeden”) believe that gold and silver are going much higher in the years to come, and the dollar is eventually toast.
Here is a chart from James Dines that illustrates this (with apologizes for the less-than-stellar quality, and with thanks to James Dines):
If you have some room in the speculative portion of your portfolio, now is a great shopping time for the “best of the best” junior mining companies…but remember to average into your positions (they could go down even further) and make sure to focus only on the top, quality companies with solid numbers. (I will give you Rick’s picks in the next few days).
That’s it for tonight…your roving reporter is signing off but will be back tomorrow with Rick’s first keynote, “Bear Markets are Best”!
I will have much more to share with you in the coming days….have a wonderful night (and a happy holiday week if you are here in the U.S.!)
To your financial success,
—Kung Fu Girl
P.S. I want to give a huge shout out to the awesome subscribers who recognized and connected with me in person at the conference—it was so fun to hang out with you, and please help me out with anything I forgot in the comments! Thank you to Ari, Lawrence, James, John, Chris, Daniel, Justin, Bonnie, and more….(if I have forgotten you in this list I apologize tremendously!)
And now, a blast from the past…
Big Bird: One of These Things Is Not Like The Other…