[Music] I'm Charlotte McLoud with investing.com and here today with me is Mike Campbell he's one of our best known Financial analysts here in Canada and he's also the host of the popular Money Talks program thank you so much for being here great to have you nice to be here love talking about this stuff yeah I think we're going to go in a lot of interesting dire today we're here to talk about your upcoming World Financial Outlook conference that will be held next month February here in Vancouver
but before we go there just because it's our first time talking I thought you could start by giving me a brief overview of yourself and your background I think many people will be familiar with you but just for anybody who isn't aware well I'm old as you can see I've been doing you know finances I started in New York at maril Lynch for example and I hate to even say this I mean I'm talking literally 45 years ago I oh know I I I need I need a doctor's uh help now to get past even saying that but yeah I
worked in the financial business for a number of years at the same time I was doing some uh lecturing out at UBC you know always been fascinated with this stuff been doing television work for if I do the math it's about 40 years you know and radio shows and Money Talks has been around for decades and I'm really pleased to say uh we've been fortunate to have the support of you know large audiences every time so yeah I it's just a background over the course of those years I've got to meet and know so many
fine analysts which I've benefited from I hope the audience has too but my background also academically is in you know Finance into economics that kind of stuff yeah well really good to have you here today and as I mentioned many directions for us to go in starting with the world Outlook Financial conference so I mentioned that is coming up very soon and you have a number of speakers companies that I think people in our audience will be quite familiar with I wanted to begin by asking you about your
goals with this conference what are you hoping to achieve for attendees well what I'm hoping and it's the same with Money Talks is I think we're in an incredibly historic changing environment and now you may measure it by saying M look at those interest rates the way they drop down and then they rocketed back up you've seen it in certain pricings and the volatility within all of that that's part of the environment we're dealing with and I think people need a lot of help in protecting
themselves I mean where are they going to get it they're not getting it in high school they're not going to get it in University unless you take a course specific and people become I I think can I always say you don't want to become roadkill here but many people are we know that from the renewal of the mortgage problem that we're seeing in the country we know that from how many people are having trouble make just the basics ends meet I mean we looked at something from the financial institution
of Canada say that 43% of Canadians under 44 borrow money for basic necessi you we know that 2 million people ACCESS food banks every month in Canada I mean it isn't the case any longer do it doesn't matter that our politicians don't acknowledge this but it used to be we worried about the bottom 20% of income earners that number is up to 50 55% and more than that have been impacted to a degree that they've had to change their lifestyle but I'm talking about people literally sitting there
worried about how to make ends meet so I look at that stuff and say well how can I help you how can we and that sounds a bit pompous but I mean we can if you bring in right analysts you direct them especially inform them about what's really going on and they have to first notice that things are not the same I mean we are in a period of historic change now I'll say Charlotte the other thing I do is I look globally I don't just look at you know we we've learned that slowly uh for example uh you know
if you're out in Vancouver where you are you know we started to appreciate that it was International money coming in to the city that was pushing real estate we started to realize so policies in China actually had an impact on my housing cost we know that and so many others of course Commodities are also set internationally pricing you know Canada doesn't set the oil price doesn't set the gold price the uranium price the nickel the you know copper etc etc so we become a little more sensitive to
looking globally at those things and that's what and that's certainly uh what I've been doing for since the early 80s is really focusing on both Global and then drilling down to domestic yeah I think it can be really easy to get stuck in your local bubble so important to bring in that global perspective as well and maybe you can mention some of the names some of the C Miss presenters that you're going to have at the event yeah so we're bring in people based on their track record and also Integrity is
important and honesty but their track record against that backdrop and again with the goal of protecting people in this environment I mean one of the things I always say Charlotte is and seriously if people think the government is going to bail them out their fingerprints are all over the housing crisis the lack of affordable rents increase in food cost gasoline costs shelter costs you know broadly speaking uh you know government isn't going to bail you out so you're on your own you know and I really think that's an
important point to understand for individuals if they think oh I don't care who's in government they're gonna they're going to protect me well they haven't look at healthc care that's their perview oh my gosh it's a it's a disaster got a report this week that over 177,000 people died in the last fiscal year waiting for treatment you know that's so those are the people who are not going to protect you so that's what we try and do so we bring in people like um my old friend Martin Armstrong
who the Wall Street Journal called uh the highest paid financial adviser in the world but Marty is controversial to say the least because he takes on the prevailing narratives but his track record is UN undeniable I'm really looking forward to hearing Tony Greer from the morning nav Navigator TG macro first of all I love his work but it's a wonderful combination of 25 years as a Trader in 15 years as a sort of a newsletter analyst you know called on by many many people his sense of the market
is feel for the market and again our audience really benefited from him because he literally called if you remember go back to November uh 23 and it was really negative out there you know we thought Tony sits there and says this is a three sigma day get the truck load it up stocks are going higher he also is the one who called what he called the Great rotation out of Commodities or well first into Commodities out of tech and then back out again so I'm really looking forward to him James Thorne he's been with us
several years he's Wellington alus wealth management last year he sits there and I mean literally pounds the table he says what's it going to take for you guys uh to get into the US you've got to be done with Canada as an investor you've got to get in the US you got to get in Gold you got to get in Bitcoin everything in that R it sure turned out and as I say that's the bottom line how does it turn out how did you do in the end uh you know in the what is it February 2020 conference we
talked and continue to do about uranium you know Peter grandich who's coming back his last live performance in Vancouver he'll be back and I I joking with him I said you you're a hard act to fall yourself because the last time you were here you told us to buy camico $19 you know $70 now you know uh but I'm still I'm personally still very bullish on uranium long-term investor so as I say that list keeps going Lance Armstrongs coming up from Houston Texas to chat with us and again Lance has had
his finger on the pulse of what's going on in the States you know the uh the interest rate scenario he's one of the few people who said interest rates are not going to drop the way you hope he said that a year ago well they haven't and they won't you know at this point it looks pretty clear uh we'll talk oil with Joseph Shaker and again oil is one of our sort of little basket of uh you know you have that fundamental basket that you know the thing that you don't trade that you always is your
stability well oil is in ours and uh I liked oil by the way when we saw it the other day over at $80 again but it's a longer term hold so yeah it's quite a quite an array of top-notch speakers coming from all over speak and it's a rare opportunity for people uh they're chosen for their track record oh one final thing because I can't let these guys we've been doing something called a small a world Outlook small cap portfolio we've been doing it I think we're in our 13th or 14th year we've
been doing it with uh two young men who I met years ago and I interviewed them we chatted on and on and what I liked is that they were using the same methodology I would for choosing a smaller company and their track record has been brilliant so we put together with them uh a portfolio every year never done less than double digits now you can't promise to keep doing it but 14 years in a row and some of these and we we've had years where that portfolio return like 70 80% and uh that's what their expertise
is we also don't only talk about those sort of smaller growth stocks we talk about dividend payers and all of that but yeah that's been a huge part is come to the Outlook get the world Outlook conference uh small cap work folio and people have loved it yeah yeah okay it's it's so hard when there's a long list of people to mention them all but I'm will'll add the link so people can check out the full agenda in the description of the video so we'll have that there and I think so important to focus on
track record very interesting there I wanted to ask you a little bit more about the small cap angle because I think our audience is quite interested in these smaller companies and of course we've got there the higher risk and and the higher reward typically is how that is and I think it's interesting to put that next to the the protection element that you have with gold and and all those kinds of prodcts so maybe you can talk a little bit more about how how that all plays out potentially in a
portfolio well we'll also have um BT globals Paul Bey out with us and I say that because last year he talked actually for two years he's been talking about a company I wasn't originally familiar with unless Paul told it it's kits ey care eyewear well yeah I like stuff that goes up 50% you know I I don't have to be an expert to go yeah 50 50 60% gain is okay he's going to talk more about that and he still loves it so that's an example uh small Cap's interesting because they
haven't been discovered by the mutual fund group or the pension fund group so if you can identify those just before again they gain that notoriety and uh yes Paul's done a great job with that Ryan Irvine at Keystone Aon Dunn at Keystone yeah that's why we featured them and there's been so many examples of that that literally have been you know frightening uh in in the way they've gone up and I again you sound like well I don't want to promote that I mean we'll have to see but if you're
good at it you do recognize value you recognize that that's not the value that they'll get when they get rediscovered or when they get discovered in the broader Market by a pension fund those PE ratios are going to go up and the price is going to go up with them so yeah we've got a long track record of that but your point also is it's not the same part of your portfolio as I would put gold uranium silver uh other Commodities I'd look at I mean I'm not I'm not there in the timing with the
Commodities because to me it's part of the US dollar story but with those other ones gold uranium and uh and silver we've got as a core position in the portfolio the other part is offsetting that that we can be a little more active a little more aggressive uh so that's how they two come together and we feature both of course at the conference yeah yeah I think it's good to have those two halves the way you explain it definitely makes sense I think so I definitely want to take a look over at
Gold it's one of our big focuses here on the channel and I know now a big Focus for you as well so curious to hear about your outlook for gold I know you've been following it for for quite some time as you're telling me before we turn the camera on and and bullish moving forward so drivers for gold that you're watching Outlook what are your thoughts our biggest concept or or context for all invest is declining confidence in government now I I'll relate that back to gold in a second but people have to
appreciate if I ask them gee do you have more confidence in the Health Care Systems going to see you in time or less they'll go less do you have more confidence that in our academic institutions they're providing a balanced view or an objective view I think most Canadians say no they're worried it's a partisan view everywhere you look and you look at government institutions that you've seen a declining confidence that by the way politically is what I see as the dominance team that served us very well
I think Money Talks was the only place you heard people say in 216 Trump would be elected literally the same week that Time Magazine had him on the cover like the end of trump or something in October of 216 we said he'll win we said brexit would go through it wasn't about the individual it's about the establishment and what I think is more recognizable that we've seen a growing dissatisfaction whether it's mainstream media I mean I'm not saying that's what an IND individual's view should be they
should understand that's what the general Public's view is and we've seen it manifest in so many places including the currency that when you start losing confidence in the currency there's a lot of ramifications for that I'll give you another example let's say your employer came in and said you know how we're paying you 5,000 a month in Canadian dollars well we're still going to pay you 5,000 but it's going to be Zimbabwe dollars you don't have to be a currency
expert to know you want no part of that you wouldn't have confidence or Turkish lerra or argentinan and peso even though it's improving with Malay president mle but Argentinian peso I mean the list is just a long one so currencies in my opin you know and this is where I fully appreciate you've got people who are keen on gold who have a different view they think inflation's driving it no I think inflation is a reflection of lack of confidence and if you want a big move I mean can you imagine the charts would
look like if you put up the price of gold but denominated in other currencies you know denominated uh and has certainly come into the Western world but let's do it denominated in BR uh Brazilian real you know it's going to look like a spike you know uh Argentina uh Guatemala the list is really a long one yeah it's a currency deal not all of them have the same inflation profile but they all have a lack of confidence in government's currency so they go I don't trust my currency but I don't want to
make it sound complicated it's not people do this all the time you know um in the 80s before you were born and when I was already about 70 no but in the 80s uh what people used to do is they used to go out and buy like a house because they were worried it would be more expensive soon you know like I don't want to wait three months I don't want to wait a year that's confidence in the currency what they're really saying is the currency is not going to buy as much and that's to me again people can yes or
no but that's the key Dynamic and again something we'll talk about at the world Outlook conference I think I can make a hell of a case for that but we're seeing it everywhere and uh yeah I think that's going to ultimately Propel gold here my my thing is this so when does Gold explode like a rocket ship I think you can make the case it's done pretty darn well so far you know and we've been recommending gold since 214 very clearly Buy on every dip don't worry about it it ain't going way down
because we measure it in these weakening dollars so it's not going way down it just has reactions so every reaction I we've been very clear by it you know and uh so the key for me for gold going forward would be when confidence leaves the US dollar it'll be the last one standing we've already seen it erode in the Yen we've seen it erode in the Euro uh you know as I say and these are the Western ones we've seen it erode in the UK which is a mess and the Canadian you know so you've got your gold move but
you also got your move in the currency when it leaves confidence leaves the US dollar it'll be a rocket ship I hate using a motive turs like that that that's the move though and uh do you want the time it's going to do that I could give you that 50 15 minutes past three in no 2018 you'll see it more clearly you've seen it now anybody awake to that goes yeah look at that the paper currencies are all declining when it comes to measured against Commodities that's the ultimate purchasing power
because your your barrel of oil is the same in Cairo you know as it is in China it is in southern us so it's a good measuring stick as Commodities that way yeah yeah I think a lot of what you're saying will will resonate with viewers especially you know when you're talking about people mentioning their purchasing power is declining and they don't necessarily know how that translates this does make it very simple to understand and and the connection to gold as well I want to I want to look at
energy as well because I know that you've got on on the roster for the event quite a number of oil and gas companies other types of energy companies so want to talk about your outlook there as well we have a lot of people who are very interested in uranium what what are your thoughts on the outlook for for those sectors again one looks shortterm or or you know as an investor a little longer time frame so I'm talking as an investor um well we just I just did a show on oil and gas you know it's had a really difficult
couple of years and I'll start with this if you can find some companies that did not suffer unduly like could survive that man are they ever set up for a push we're also finally acknowledging that if you are concerned about climate change and Emissions I love uranium but it's mid longterm natural gases let's turn it on tomorrow morning you know and coal you know the farce as you look over in Europe I mean unfortunately it's a tragic farce but you know here is Germany shutting down their two major
nuclear plants with no backup they had no plan I mean they literally had no plan well what are we going to do without that power so they're the biggest importer of coal you know in the in Europe you know of course emissions are huge I mean it's been a farce around the world but natural gas now is finally perceived to be one of the solutions they're not going to have to fight climate change activists who fight natural gas are going to look really bad and they're still out there believe me
but you know what the public is starting to understand this so after two really brutal years I think natural gas gets very interesting and as I say especially those companies that survived and I'm not going to say thrived but did okay you know in the last two abysmal years so I kind of like as an investor uh natural gas going a bit forward here for that uh uranium still Keen long term because that's the ultimate solution if we are going if we are committed to the reduction of emissions besides other
efficiencies but then you have to add in things like well you've got for both natural gas and for Uranium you've got this explosion in artificial intelligence and you've watched major firms it doesn't matter if it's meta or Amazon go out and try and secure their own power sources including in natural gas they'll be looking at nuclear that way I think that's another huge boost uh I mean I'm looking at Japan trying to redo its nuclear again and you know publicly saying that that's what that's
what our goal is the real interesting time is when Europe finally turns back France is starting to because they were the most powered by nuclear they're starting to talk about it because it's not doable in the in fossil fuels for emissions and cost and Reliance on Russia you know all of those things come into play here so yeah it's uh I I'm I'm long-term bullish on both short-term natural gas is interesting really I mean there's some stuff that really hit the bottom for those people some people are
momentum buyers you know it's things go up they start other people are I Like to Buy Low sell High well you got to look at natural gas on the buy low side right now look at quality it's on sale yeah yeah and you know I grouped oil natural gas uranium kind of all together when they're very different but as you can see when you're talking through it they are all part of the same energy equation so thank you for going through that and one thing that's yeah one thing that's interesting is Canadian producers with
the Canadian dollar you know at a$ 69 Cent dollar you know their production cost in Canada I'm saying you know versus the United States become even more attractive you know within that and I'm thinking of oil in that way and I'm thinking of cash flow when you get $80 oil like we did you know hit it on Wednesday $80 oil but we've been you know up in that region boy the cash flow of some Canadian producers gets incredibly uh um attractive and I'll tell you what I've done I mean I've been
looking at some Canadian producers so I'm starting with that I want them to have cashlow I want them to benefit this way their share prices have taken a huge beating well there's sure a heck of a lot better by than they were a while ago and I would still say the old the world isn't even close to getting off of oil or fossil fuels you know look at Germany I mentioned a few moments ago literally the share of fossil fuels um driving their electrical grid and their power grid hasn't changed a bit since 2010
same share despite what 500 billion EUR spent you know I mean they're not going anywhere and demand out of the third world or the developing nations they're not waiting India is not waiting and saying gee I think I'll you know so I can satisfy Barack Obama I think I'm not going to develop because the only way that you raise the standard of living is it will accompany more energy use so yeah so you can tell in bullish on all those things yeah yeah I think that gives a pretty good idea of
what you're thinking there and you know just because you mentioned Canada I know that we've been talking about how important it is to have the world Outlook but we have a pretty interesting time coming up in Canada I think we've had Justino just resigned we're looking for a new prime minister probably heading sooner than later toward an election in the country any any considerations with all of that in mind for for investors well a a couple of things one is I don't knock people for having different political
views that's legitimate my complaint about our political uh mil is there's so much dishonesty with it you know why not just tell the truth you have a so the agenda looks the Liberal Party have had an agenda that has prioritized climate change I'd say lgbtq um you know some other issues around that but their number one priority clearly has been climate change now we're we're thinking or they're talking about Mark Carney well Mark Carney is on a a founding member of the foundational Trustees for the world
economic conference their agenda is well spell out it's Net Zero I I'm not knock I mean we can debate that later but let's at least know what our choices are going to be and they are going to be continued to be Addy fossil fuel I mean there's just no doubt of that uh he advised prime minister TR they both said it he advised prime minister Trudeau on the economic side of the climate agenda you know so that's going to be I think one of the major issues in this debate is where do we go with our natural
resources where do we go with especially with oil and gas and the NDP liberals have staked out their claim to being discouraging it and the conservatives said we want more of it so that's going to be the choice and people can make that choice whichever way they see but there are consequences to both you know we have dire financial situation right now when you look look at uh the rising deficit in debt and I'm not I'm not an alarmist about it I'm saying there's consequences one being you're going to
pay 54 million in interest coming up next year you know that's a consequence of rising that debt that's about 11% of all government revenues Federal revenues well do you want to spend it on that or something else well we couldn't I don't believe now again let's bring someone on who would have supported that approach from the liberal party and the NDP but I personally don't think we could afford the way we sent away so much capital investment in this country so much innovation in that area I'm glad
we got Kinder Morgan and looking at what president elect Trump is saying about tariffs we should be really glad we've got you know the Kinder Morgan pipeline to give us access to other markets but yeah it's it'll be a very clear choice about oil gas other resources uranium included you know and I also think they're by the way they're a very powerful chip in the r of rare earth minerals in the negotiations with president Trump or his administration that's a very big positive for us saying
well don't do that because we'll give you all these Rare Earth minerals or critical minerals so it's it's going to be play a big part but I think we have two distinct visions of Canada as a resourc country was that diplomatic enough I I think that was actually really quite diplomatic so so thank you for that answer thanks for going in that direction there I I think that we've gone through a lot of what's going to be happening at the conference a lot of the things that are on your mind is there
anything else you would add Before I Let You Go any details on the conference or anything else that are you're thinking of there just a couple things that I really enjoy I I enjoy a lot of people listening to Money Talks I enjoy meeting them in person and chatting but I'm not saying they enjoy that but I am saying they enjoy getting a chance to talk to someone like Peter grandage you know they get a chance to in person you know to have a chat with Tony Greer to have a chat with James Thor Lance Roberts and
list of speakers that we have uh and they love that you know I mean literally just go you know these people if they charge for you know some sort of oneon-one would be about 50 times more than the cost of a ticket you know uh so it's a great chance to sit mingle it's a day you know it's Friday evening all day Saturday uh to learn many more practical things to talk with professionals we can get your own questions answered and just a chitchat I I I love that part and I think a lot of people attend also like
that part so hey what else are you going to do anyways I mean it's February February 7th February 8th it's raining both days by the way I know in advance just kidding I don't know that but you know uh Chile damp day or come on to the Bayshore the Western Bayshore and chat with a lot of nice people yeah I think it sounds like it's going to be a great event and I think you can probably say that it's going to be raining pretty easily I think can almost guarantee that for you so really good we'll have all
the information like I said in the video description below thank you so much for giving us a little preview and and coming on to talk about your thoughts on what's going on in the resource sector and more absolutely my pleasure thank you of course and and once again I'm Charlotte McLoud with investing news.com and this is Mike Campbell thank you for watching if you like this video make sure you hit the like button and subscribe to our Channel we'd also love to hear your thoughts so leave us a
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