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Contrarian Calls, Revisited: Theron de Ris’ Bullish View of Energy, Precious Metals, Royalty and Streaming Stocks

Published January 31, 2022

Theron de Ris of Eschler Asset Management was bullish on energy, precious metals and royalty and streaming companies in the mining market in November 2020. 

Precious metals were in an up-trend but 2020 was the “first year we’ll be seeing some institutional interest develop,” de Ris said at the time.

Additionally, “gold is kind of a bet against bad government decisions and falling trust in the system.” Royalty and streaming companies were poised to come along for the ride as these were “basically financing companies” to “bring mines into production” with the benefit of a cut off the top line, usually into perpetuity. 

Among these, de Ris’ favorite was EMX Royalties (EMX).

MoreContrarian Calls, Revisited: Theron de Ris’ Bullish View of Energy, Precious Metals, Royalty and Streaming Stocks
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Season 3, Episode 19: When Investors Become Gamblers — And Why It’s Happening Now

Published August 17, 2021

With William L. Silber, Author of ‘The Power of Nothing to Lose: The Hail Mary Effect in Politics, War, and Business’

William L. Silber, author of the book ‘The Power of Nothing to Lose: The Hail Mary Effect in Politics, War, and Business,’ joins the podcast to discuss his thesis that individuals, including investors, can become reckless gamblers if they have nothing to lose.

Silber has a career dating back to 1966 in academia and Wall Street. His comments are pertinent in the present day of cryptocurrencies, the ‘retailization’ of options trading, NFTs, and meme stocks, among others. So is his recommendation (not investment advice) to reduce risk exposure.

Content Highlights

  • When people have downside protection and limitless losses, “they tend to become reckless and almost gamblers” (3:48)

  • Rogue traders and the skewed payoff that makes them go rogue (14:41);

  • What to make of the present day and investors’ collective risk appetite, especially regarding meme stocks? (17:32);

  • Background on the guest (24:55);

  • A valuable lesson learned at Odyssey Partners in the 1980s: what’s an exit strategy? (27:47);

  • Is this a time for investors to reduce risks and sell stocks? (30:26);

  • Precious metals and their place in a modern portfolio (36:52);
MoreSeason 3, Episode 19: When Investors Become Gamblers — And Why It’s Happening Now
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