A Silver Exec's Top Advice on Precious Metals Investing

Episode #297 | February 13, 2023

Episode #297 | February 13, 2023

A Silver Exec's Top Advice on Precious Metals Investing

In This Episode

We're excited about this week's Stansberry Investor Hour show... and so is Dan, who says, "I've been trying to meet this guy at conferences and various places for 10 or 15 years, and finally, he and I are going to speak."

In what we hope will be the first of many times he stops by our studio, Keith Neumeyer – the founder, president, and CEO of major Canadian mining company First Majestic Silver – shares what it takes to make a fortune in the industry.

He says precious metals mining in general is full of challenges... calling the cash-intensive business "likely the most difficult sector in the world." It requires patience...

The people in the mining sector are some of the most patient – and stubborn – individuals in business. From discovery to production, you could be talking about 10, 20, 40 years. A lot of [other] people don't have the patience.

But the patience is well worth it. As Keith explains, "The mining sector brings a huge amount of value to the human race" as many modern technologies rely on it, especially silver...

All the different technologies we started to adopt as a human race in the mid-'80s and beyond, I just put two and two together and I said, "Silver is the glue that holds everything together. Without silver, none of this is going to work."

Silver is crucial to modern society, and it can be highly rewarding... as long as you know what you're doing. Before signing off this week's podcast, Keith shares the top qualities novice investors should look for in a mining company. (Solid management is his top pick.) And he recommends not waiting too long to take profits or holding on for the elusive 10-bagger, saying...

These things will spike all of a sudden [...] The stock will go up 300%, 400%, 500%, which is fantastic. That's what the mining sector can do for you if your timing is right. But you have to be smart as an investor. If you're up 300%, you'd better be selling something. If you don't, you're an idiot. If you're up 500%, I would suggest you're out of the stock completely.