Taking a Bullish Stance... on Human Progress

Episode #251 | March 28, 2022

Episode #251 | March 28, 2022

Taking a Bullish Stance... on Human Progress

In This Episode

The last time Dan Ferris chatted with hedge-fund manager (and Stansberry Investor Hour fan favorite) Kevin Duffy, the bull market was swelling as young retail investors pursued heavily shorted “meme stocks.” Since then, Kevin says, “the mood has changed quite a bit.”

It’s a much darker period now… with a slumping market, roaring volatility, a hot war in Russia, a cold war in China, an uptick in inflation, and a snarled supply chain.

 But despite how much the world and investors’ moods have changed in less than a year, the editor of The Coffee Can Portfolio remains steadfast in his newsletter’s investment philosophies: to be selective, contrarian, and patient.

In this week’s interview, Kevin – who has been in the game for more than 40 years, from buying his first stock at age 13 to shorting heavyweights in the housing and credit bubbles –shares his unique perspective on today’s investing atmosphere.

 He and Dan discuss everything from the stocks, commodities, and inflation concerns that are shaping today’s financial environment to the cultural shifts caused by pandemic-accelerated digital revolution and Disney’s employee walkout.

 Amid market regulation, “woke culture” leaking into the financial sector, and even the possibility of China positioning itself to be the “hero” of the Russia-Ukraine war… Kevin urges you to maintain optimism.

He recommends seeking opportunities within seemingly “uninvestable” stocks, treading with caution around companies that seem to push “government-fueled narratives,” and viewing booming trends like renewable energy and electric vehicles with a critical eye instead of jumping right in with the rest of the crowd. 

Kevin admits we have a long way to go in achieving true freedom and sustained human progress. But as ever, he remains a long-term optimist…

[W]e have two impediments to human progress… One is bad ideas. The other is bad DNA.

 We still have this DNA that’s about the crowd – herding, tribalism, contention… Your neighbor was a threat to you because resources were scarce. But now, social cooperation is bringing about more resources. So these impediments will go away over time.

The other is bad ideas. The ideas of socialism have to fail over time. But as they do, human beings will wake up and realize that they can do away with this and be a lot better off for it.