In a week where Tesla’s $75/share price tear made history, Dan dissects the craziness of the headlines we’re seeing. Dan then provides research and historical perspective on growth darlings versus value investments before getting to this week’s interview. This episode’s interview is with Harris Kupperman, founder of the hedge fund Praetorian Capital, here to discuss two of his highest-conviction investing ideas today.

In this week’s podcast we talk about gold’s big boost following the U.S. airstrike that killed Iran’s top general, Qassem Soleimani… and what’s next. Extreme Value Editor Dan Ferris shares why he’ll be surprised by truly big moves in gold this year.  Our special guest, Austin Root, Portfolio Manager of Stansberry’s Portfolio Solutions stops by the podcast to share his experience about working for three hedge funds Porter Stansberry considers the best in history. Listen now!

Instead of the usual “predictions for 2020” being made in a host of financial-themed podcasts this year, Dan Ferris is doing something different to ring in the New Year. In this week’s episode, he gives his assessment of where the markets stand right now – what’s priced in, and what would surprise investors in 2020 in beyond. From an as-yet unforeseen market dip that sparks of a far bigger wave of panic selling, to the VIX, or “fear index” – here are the tea leaves you can read into – and biggest possible surprises to keep an eye out for – in 2020.

In our last broadcast of 2019, Dan Ferris quickly recaps what a year it’s been from a 27% gain for the stock market to $12 trillion negative interest-yielding bonds in the world, to the third-ever impeachment of a U.S. President. Even so – this episode isn’t dedicated to a year-end review of markets, which Dan notes just about everyone is doing now. Instead, it’s about reviewing the very best and most important episodes of Stansberry Investor Hour – including a few that have changed Dan’s life.

As signs of dangerous, unrestrained euphoria mount – including one Mitsubishi analyst publicly assuring investors this is a “zero-risk environment” Dan brings on a guest to this week’s show who is uniquely qualified to assess the hidden dangers of private equity-backed companies as Wall Street continues to gorge on private equity deals. Dan Rasmussen is the founder of Verdad Capital, who before that worked at Bain Capital and Bridgewater Associates. In 2017, he was named to the Forbes “30 under 30” list.

Add $120,000 bananas to the list of market top indicators, as Dan explains what’s behind the artwork mania that’s taking place alongside frothy stock market valuations – and a $12 trillion bond bubble that’s only a little less insane than its August 2019 peak. Dan then gets to other metrics that warn valuations are looking increasingly toppish, before explaining why, counterintuitively, reality may not catch up to investors and markets for a long while.

We have a very special interview segment this week – a “trader’s roundtable” with three Stansberry colleagues who have spent years trading stock options, here to show their strategies and takes on what 2020 could bring for investors. As every year winds down, it’s natural to reflect on how the market’s done for the last 12 months. But Dan says there are only two specific situations where it actually pays off – and now is one of the times to take a hard look at the overall stock market.

Dan starts out this week by continuing his discussion of share repurchases.  He’ll show you the man who put share repurchases on the map, investing legend Henry Singleton (1916-1999).  Singleton was an MIT-trained PhD engineer who liked to play chess without looking at the board, preferring to keep it all in his head.  Dan talks about the two things Singleton did to secure his reputation as a bona fide business genius. 

We have a special guest this week: Crypto Capital editor Eric Wade, who’s hot off a major crypto seminar with Ron Paul, where he briefed attendees on the future of money and the coming clash of competing currencies. Eric has a storied career as an investor and entrepreneur, from buying and selling web domain names for $1 million, to personally mining Bitcoin years before the craze went mainstream.

This week’s episode is all about stories, including a dive by Dan into numbers and statistics, and which ones to disregard in a world where the vast majority of data is just noise. For instance, the private equity firm KKR’s bid for a record-breaking acquisition is capping a pattern that we really haven’t seen since 2008. It’s a $57 billion acquisition, or more than $70 billion if you include debt to be acquired, but Dan shows why those numbers are actually distractions to the much bigger story and historical warning at hand.