Extreme Value editor Dan Ferris chats about the “Amazon of Africa,” IPO, the death of retail, and Apple & Qualcomm’s fight. Former hedge fund manager and founder of Empire Financial Research, Whitney Tilson, stops by to explain why he thinks Tesla is the most dangerous stock in America.

Extreme Value Editor Dan Ferris discusses which company’s IPO is gathering steam and Bank of America getting out in front of a minimum wage fight. Our special guest Brian Dalton stops by to talk about how to collect income from gold.

Every now and then, someone asks Dan about the apparent contradiction between his value investing philosophy, and his appreciation for gold in investors’ portfolios. After all, when the world’s most legendary value investor, Warren Buffett, publicly disdains gold – does it really have a place in value investors’ strategies? Dan explains why Buffett is right in one way – and then gets to the two scenarios where holding gold will make a life-changing difference for investors.

In a week in which IPOs are in full bloom – and with them, a $37 billion trap Dan’s warning to avoid – there’s plenty to break down. From the unprofitable Uber paying $1 billion to buy out a (still more unprofitable) competitor, to the ongoing circus at Tesla, Dan crunches the numbers to explain what’s really going on, and how much longer the facades could sustain themselves. We have a particularly special guest for this episode – a new name at Stansberry you probably haven’t heard of yet.

Today’s rant by Dan Ferris is about you – you and your investments. Hardly anyone will tell you this, he says, but investing is personal – it’s an extension of who you are. And before you buy one stock, or bond, or share of a mutual fund, there are questions you need to know the answers of concerning… you. Most people shouldn’t want anything at all to do with the stock market, because of their own beliefs and preferences. And big banks and Wall Street don’t want you to know investing is so personal – they want you to think there’s a one-size fits all formula to it. It’s total B.S. – and as Dan will show you, you can no more outsource investing your capital than you can outsource someone to digest your food. Of course, people like Dan can point you to helpful insights and “news you can use.” We’ve got a bit of that this week, as Dan breaks down the news of Tesla’s $20,000 deposits on its new semi truck, Apple’s game-changing streaming service, and Lyft’s looming $2.1 billion IPO.

On the heels of the 10-year anniversary of the March 2009 stock market nadir, Dan sums up how things looked when the S&P 500 bottomed out at 666 at the dark days of that crisis, how things look a decade later, and why investors should keep a two-word phrase at the top of their minds: “Cycles matter.” 

Last week Dan talked about the master investing skill of accumulating capital.  But what do you do with it once you have it? Here lies the big difference between being an investor and a speculator. And according to Dan Ferris, before you buy one more stock or bond, you really should understand how they are different. He provides a detailed definition of what investing really means, and how you can avoid being just a speculator. He’s later joined by this week’s podcast guest, Chris Mayer. Chris likes sharing investment wisdom through books as well. His first, Invest Like a Dealmaker: Secrets From a Former Banking Insider, covers time-tested essential principles of investing. His newest book, 100 Baggers: Stocks That Return 100-to-1 and How to Find Them, teaches readers all the key characteristics of companies that return $100 for every $1 invested.

The biggest news over the last week has undoubtedly been the release of Warren Buffett’s annual letter to Berkshire Hathaway investors, which contains some gems Dan is ready to break down for you. By now, as Buffett points out, his partner Charlie Munger is 95, making 88-year old Buffett the young one. And there’s one prospect Buffett mentions in his letter that “causes my heart and Charlie’s to beat faster.”

Extreme Value Editor Dan Ferris discusses the tweet now “burned into his brain.” He’s joined by New York Times bestselling author Diane Henriques, whose book about Bernie Madoff “The Wizard of Lies” became a HBO movie starring Robert DeNiro. She explains why the next Bernie Madoff will be impossible to spot.

With the market’s whipsaw turnaround from December continuing through this week, the question of where the market is headed for the next 10 months of 2019 is dominating most financial discussions. Everyone has an opinion – and Dan Ferris is ready to reveal why those opinions are often catastrophically wrong. From billionaire Paul Tudor Jones predicting markets could go “crazy” on the upside at the ed of 2018 after the midterm elections, to surveys of 22 of America’s most powerful banks and brokerages being wrong on market movements by an astonishing 14.6% each year.