Beating the S&P 500 with Kevin Duffy |
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Kevin Duffy, Patrick Highsmith and Michel Oliver return as this week’s guests.
Over the last 16 months, Kevin Duffy’s conservative “Coffee Can Portfolio” has gained 54.14% compared to a gain of 43.80% for the S&P 500. He did that despite 20.22% in reserves, 7.71% in portfolio insurance, 18.15% in gold stocks. Unlike the S&P 500, the Coffee Can Portfolio appears to be in a position to profit from, or at least, reduce losses in a major equity bear market.
Kevin will join us to share his investment philosophy, provide his views on the economy and let us know how he has positioned his portfolio to weather a growing inflationary threat and, at the same time, protect his portfolio from a major equity bear market. Given that stocks are the most overvalued they have ever been in American history, the threat of a major decline in equities should be taken seriously, especially as interest rates rise in concert with higher rates of inflation.
Patrick Highsmith will introduce the story of Timberline Resources, a new sponsor to the show, that has large highly prospective gold exploration targets in Nevada. Michael Oliver will join me to tell us what his momentum and structural analysis is saying about stocks, bonds, commodities, and gold for 2022. |
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Kevin Duffy is principal of Bearing Asset Management which he co-founded in 2002. The firm manages the Bearing Core Fund, a contrarian, macro-themed hedge fund with a flexible mandate. Bearing gained notoriety during the Great Financial Crisis by betting against stocks like New Century Financial, Fannie Mae, Bear Stearns and Lehman Brothers. Duffy wrote extensively on the housing and credit bubble identifying root causes of the bubble. A month later, he issued a warning in an op-ed for Barron’s titled “For Whom Do the Bells Toll.” The Bearing Credit Bubble Index was cited by Marc Faber in speeches and The Gloom, Boom & Doom Report. Prior to Bearing, Duffy co-founded Lighthouse Capital Management and served as Director of Research from 1988 to 1999. He chronicled the excesses of the Japan and technology bubbles of the late 1980s and late 1990s respectively. The firm was later sold to Fisher Investments. Duffy also publishes a bi-monthly investment letter called The Coffee Can Portfolio. |
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Patrick Highsmith is Chairman of Firefox Gold Corp. A professional geologist and mining executive with 29 years of experience in exploration, operations, business development & leadership roles for companies, including: Rio Tinto, BHP Billiton, Newmont, Lithium One, Pure Energy Minerals, and Fortescue Metals Group. Mr. Highsmith has worked on more than 250 projects around the world, leading teams through creative transactions, new discoveries, scoping, and prefeasibility studies. He is experienced in the capital markets, having been associated with all manner of financings and transactions. Patrick has been targeting gold in Finland since 2005, and has been integral in building FireFox. He is also the Pres. & CEO of Timberline Resources, a mineral exploration and resource development company focused on gold and copper discoveries in north-central Nevada, USA. |
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J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.
In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.
In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism. |
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Jay Taylor Taylor Hard Money Advisors, Inc 718-457-1426 |
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