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 [Music] I'm Charlotte McLoud with investing news.com and here today with me is EB Tucker editor of the Tucker letter thank you so much for being here great to have you thanks for having me really good to be speaking with you as always and as I'm sure everybody can tell you are not in your usual location so let's begin by maybe you can tell me where in the world are you right now I'm in Morocco so so just you know barely the Northwest sliver of Africa so I'm about hour and a half south of Tangier

I've been over here for for a little while and I'm I'm my my newsletter on uh the next newsletter will give some more detail about what I'm doing here people should read EB tucker.com Tucker letter you can read that for free and uh I'm telling people kind of what I'm up to what's going on this is this is a great country I mean really really great you know for for a number of different reason reasons and I'm going to I don't want to bore everyone here now with that

I'm going to lay it out in the in next week's letter okay so this is this is coming up I'll leave the link to the newsletter people can sign up if they want to find out more about what you're doing there very beautiful it looks almost like it's not real as I told you before but of course it is so I'm happy to jump in the pool if necessary just to just to prove that yeah it's a real okay yeah we we won't make you do that I'll I'll believe you but very very beautiful and I

appreciate you taking the time out while you're traveling to do this and I'll I'll try to keep it short and sweet so that you can get back to what you're doing over there I was going to start with gold because we've been speaking about gold for years at this point people like to get your thoughts on gold we're coming off a record setting year for gold and and some people are still really wanting more from the metal in 2025 where do you see gold going next year do you have a a price prediction in

mind what are you thinking well the thing the thing I think people really missed was the price ran up drastically this year because the market clearly expected a democratic win in the US and that that run to 2750 or 2780 whereever we got was it backed off a 100 bucks you know as soon as there was a different outcome than than the market expected and I think people should really you know put the politics aside and realize that what that tells you is that the the market thinks there's going to be a pro

business climate and uh there were some threats and some risks that were causing gold to bid up going into the election and that shifted and so if you gold still had a great year but what what you're looking at now is is that you're looking at a scenario where some other assets are are set to move and I think the gold price will have a good year next year but I don't think it's some kind of uh Panic breakout you know and and I think people need to really understand that Gold's going to move up

at the rate that your currency really moves down your buying power I mean if you're a Canadian think about it like this if you could wind back the clock to January 1 and you're you know regular hardworking person in Vancouver or Toronto or something like that the best thing you could have done would be to buy you know as many Maple Leaves as you could fit in the safe and um you had a great year your currency did not have a great year but not really much happened with gold you know it just did just kind

of moved the one thing that really occurs to me Charlotte is that you got to be you've got to have something something from a cognitive perspective wrong with you to own a mining stock I mean it's it's amazing what's happened in the in the business I mean you've got overpaid Executives bloated boards uh uh some of the people at the conferences I mean I've turned down speaking opportunities you know at these conferences because my question to the promoter was who's there I mean it's

it's what's even the point of talking about it you buy the Gold stock and it goes down you buy the gold and it goes and it goes up right so you've and obviously like there have been ERS don't get me wrong I mean of course there's been a company here or there that's I mean it's not like there's not going to be some but the argument for the stocks was as the gold price Rises they earn more money and the equity value goes up hasn't happened and and and even if you

look at like a basket of four five that went up this year you know 40% or something like that what's the big deal I mean you could have bought the S&P and made you know almost that much and you don't have any of the jurisdictional problems you don't have any of the the capex problems and and uh I I just think it's like something's very very wrong in that business and I don't think this whole sales pitch of like don't quit before the miracle happens I don't think

it works I mean the whole game here the FED wants you to play is to buy stuff that goes up in value to sell it and to pay capital gains tax and you just have not effectively done that in the mining business except for maybe six months in 2016 couple months you know in 2019 little bit after the flu panic in the US you had a few months of of bliss there but it hasn't really been something material I mean you've had to be very very Nimble you know like get in there quickly get out of there and that's not

really a bull market I mean and all these guys will tell you well you know you everything else is going to collapse I I mean I I just think you gota you gotta really ask yourself a hard question of like what am I doing in this business and a lot of people are a lot of times shocked to hear me say that but I mean it's been a long time since I've been associated with any major investment in the gold space outside of bullion because the bullion has worked and the companies have not worked I just

think people really have to look at that I mean it's it's shocking when the actual product itself has done better than the company's producing it for many many years and then to say well that's going to change soon maybe it will change maybe it will change soon but I think if you're if you're clear-headed you want to wait to make that trade until you see it change some of these companies that got bought this year you know all these deals you have to get into specific but some of these

companies that got bought are still a fraction of the share price of where they started a fraction of the price and then if you look the executives every single year they got more and more incentives and they got you know deal payouts and everything happened well so what I mean that's like that's like five people you know I mean why why why do we care about them you know it's like the average stock buyer could have bought us treasuries and made more money so I or you know whatever you could buy just

physical round ounces of gold and have made more money I think that's I think people have really got to start talking about that because you how does the business work I mean I was I don't know if people saw but I was down in Uruguay with Doug Casey and we we had a like a long meeting about this talking about different some things that we're doing together like related to this and and I told him I was like it's not the90s anymore you know you got these you know Vancouver people running around like

trying to raise $3 million to keep a company going it's like what are you doing so crazy I mean the the game is to make money by buying something and selling it at a higher price it's that's the game and like and like you know you could you did it with Bitcoin we in the newsletter you know we we wrote about Bitcoin we had nasty comments from people you know it's really amazing what people say and we bought it from like in the 30, thousands and rote it up to a 100 I mean what is what is so bad about

that I I mean I don't understand like you know it's just doesn't make any sense to me I mean you can you can just this is this Market is a great opportunity to buy things and sell them at a higher price I I just think people really miss that it's all you got to do all you got to do is buy the things that go up that's what you have to do not the things that go down okay yeah it does it sounds simple when when you put it that way and I think going back to the mining stocks I think people probably will be surprised

to hear you say that I've heard you talk about this topic in other interviews so maybe we can just take a little bit of a quick look there and and go into a little bit more about what you're saying is that mining stocks across the board you're not interested right now and and what would make you change your mind if anything is it just you know better management needed it sounds like you've got a lot of I mean I'm I'm pretty tired of the management like I mean they it it's the whole the whole song and dance

that they put on is like it's this story that you're just tired of hearing you know it's just kind of like look I mean it's not it's the same people in all the deals it's the same process you know sure you sold your last company you know for 50 cents and you know you'd raised money at a dollar I mean who who cares about that I mean that's like that's just not like that just it doesn't work I mean and I think I think what would open up people's mind a little bit is to

be involved in other deals like you know you I I'm involved in stuff that like in the tech business for example when you see the way it works and you're just like well that's how you're supposed to do the deal you know is that you raised money at a dollar and then $5 dollar and $10 and $20 and $80 I mean you're just like whoa okay I mean higher prices that that's what you're going to do because you you built real value and you know like going around and clubbing each

other with shovels down in you know Central America for seven years and losing most of the money and then getting bought by a stable large competitor for half of the where you sold stock that doesn't work for me I mean and it's like obviously people are going to say oh well my company's different yeah maybe so but but the reality is a bull market is when almost everything goes up I mean you what people need to realize is that you want to get involved in things where the executives can stumble around

and spill coffee on their laps and still make money because the product or service that they're providing is in high demand nobody is buying a Mining stock I mean nobody like let me just so I spend half my time in New York so obviously like I'm with a lot of people that are in the mainstream money business and it's like it's almost like a fact that you want to hide that I know about gold you know it's like it's like now I have two books available one of them is nothing to do with gold thank

God so these people it's interesting to listen to what they're up to because they're not involved in the resource business and the reason they're not involved in it is because their job is to make money and it's very complicated to make money in the resource business I mean like a lot of the people that come on here and like when I got started in my career it was a different Market you had this Market where you know there was a lot of money coming in for exploration there was a lot of money coming in to

buy projects it's not happening right now it's like the business is getting smaller I mean you look at the total market cap of the junior stocks and it's microscopic and then to say well it's going to explode by 100 times to me is like slightly delusional I mean maybe but the reality is if it does that you'll have plenty of time to get involved later and I think that's what people need to see is like thinking that you're going to be the last person in the door before the rocket ship takes

off is crazy and um the other thing people should realize is like I sometimes wonder if anybody read my first book a lot of people bought the book I mean it's like almost 100,000 of them or something but I wonder if anybody read it because what what happened was I'm laying out the case for physical bullion and then laying out the case for how I played it five years ago and sometimes things don't work out right it's like these markets are changing all the time you know and so and so the reality is is that like it

when something doesn't work out it's like if you're in a relationship and it doesn't work like and you break up right and people say what happened well it didn't work out oh okay what do you mean well what do you think I mean I mean I I thought it was one way and it didn't work out that way so we you know we we split up oh okay well that's how life goes right I mean you get started on a trend and then it starts going and if it and if a stock doesn't perform you you cut the stock

and you sell it right I mean you don't like say well I invested in buggy whips in 1930 and it turns out there was this thing called an automobile but I stuck with the buggy whip business like you don't say that and then people say why'd you get out of that buggy whip business it's like well there was a little something called Henry Ford that came along you know and it's a game changer so what I'm saying is if you want to make money on the long term okay if you're just gambling all right if you're

just a if you're a hopeless Gambler maybe it makes sense to stick with the penny stocks okay because that gives you a personal good feeling that you might need in your life but that's not really what I'm interested in if your game is to make money over the long term what you got to do is you got to get involved in stuff that's got energy behind it and then you got to get out of stuff that's dying okay so like if you're in a relationship that's exciting and energetic you stick with it if you're in

a relationship that's literally dying of cancer get out of that relationship I mean that is like not the kind of place that you stay if you want to live a long healthy life okay because you're going to go down with that ship and so what people need to do is they need to say when the mining stocks go I'll jump in and get involved with them but they've not gone so like 205% move in gold and negative you know 5% move or something in your Mining stock major problem right that's a major

problem because the company told you if gold goes up 25% you'll have to like scrape us off the ceiling that's how big the party is going to be didn't happen so so now really quickly let's get down to a practical thing you can do this is something this is one of my little secrets that I do write stuff down that people tell you okay so I I I keep like all these little books I write down it's not like a secret either I mean you could steal the thing and I don't think you'd know how

to use it but I'll write down the date and I'll say like you know Bob told me this or whatever and then you look back and you're like this guy told me that he would be making this much money if gold price did this gold price did this he's losing money now he wants more money I'm out of there man I'm not I mean no hard feelings but like I'm not playing that game anymore now if the opposite happens like he told me he'd make this much money he made more money well that's a

story that I'm interested and so that's what people need to need to understand is that you know in my career I have been wrong several times okay like I mean my my my thing is like if you like if you're a baseball player and you bat 600 or something they they bronze you in into the Hall of Fame right and that's you're you're like a like a like a career you know uh achievement is so great that you're you're for they name highways after you in the investing business the same thing right like you

have got to quickly cut when you're wrong that's what you have to do when you're wrong about something get out of that and then when you're right about something add to it stay in that you know and and so people have a really hard time with this in the mining business because they think Magic's going to happen but you got to look around you go to the mining conference there's like nine people there you go to the go to the like the AI conference and there's like 9,000 people there you know

and and and and you there's like people jumping out of cakes and stuff and you gotta understand something like like there's like hundreds of billions of dollars going around and say and then in the in the mining conference there's like $20,000 going into it and and of it's yours right so like that's what I'm trying to say now if that changes like if if you see that change then you shift gears right away and you go chase that you don't need to be the first dollar in okay like everybody wants to sell at the

top forget about it the first dollar in and the last dollar out are like impossible you'll die trying to get that dollar and you don't you don't need to die like you you need to catch the middle of that you know and so some of the things we've been talking about these other sectors they're a little bloated you know I mean it's like you've got you know Apple trading at 40 times earnings or something is a it's a little high you know I it's like a little crazy so I mean I I don't think things are so

binary but I have become very fatigued with listening to the pitches for the mining guys even the early stage even the ones that are like we have a special deal for you it doesn't sound that special because like it's the same old recipe that nobody's buying okay I think that helps us understand where you're coming from for sure so not the time for mining stocks right now you mentioned in one of your recent newsletters it's really important to follow the trend which is what you've been talking about

right now so for 2025 where are those trends that you're following yeah biggest thing is energy I mean like like we we've the last couple months we we've done massive amounts of research in energy space where like one of the reasons is because we we got we had an energy play this year that we sort of like I'm not going to say we got it wrong but like we were surprised how some things worked out like we we were we were you know we in that trade but we were we were like how it started the

year and how it finished the year it was not exactly what we thought we did okay but like in that trade we learned about what's really going on with the energy needs and then we we got a little deeper with some political contacts and people that are that are involved kind of higher level stuff and we figured out that like the whole entire way that we use and consume energy is about to change and I mean change like radically speaking I mean the thing that like really did it for me was when you start

playing with the AI programs the chat gpts all this stuff and somebody starts explaining to you what's happening from an energy perspective and you realize that like if I ask perplexity AI something about like in Morocco like I'm writing about the situation in Western I mean in 5 seconds it gives me like this very interesting um summary of like you know all these different facts it's basically it's like getting Google search back in the old days remember in the like 2006 or whatever you could do a

Google search was more useful than now you know because it was like non-biased anyway so that search with perplexity AI or chat GPT that massive search uses 10 times the energy as a as a Google Search and so you start think about it and you're like already you know Dominion power in in Virginia for example like they they you got to wait like five years to hook a data center up to the Grid it's like completely broken and so we started getting into this we realized it like the entire way you power all the

stuff out the window like forget about it forget about solar wind I mean that's going to do your house right like you're G to have solar for your house you're gonna have wind for your they have wind here in Morocco it's like yeah it's pretty good so like but the thing is is that is that that's not going to of power the AI but then we figured out that the AI situation is like almost identical to the space race of the you know 60s 7s 80s to the to the whole Reagan Star Wars thing I mean it's like

you've got this Panic a sheer Panic of like we have to beat the Chinese and anyway so we just we figured out a way to play that that's pretty pretty aggressive pretty exciting there are going to be startups like in Vancouver that are going to focus on this I think like a little bit more better organized than the mining stuff that's the whole thing that kind of got me negative on the miners too was you meet with somebody doing a company in this in the energy space and it's like way organized

I mean you're like this is probably going to work you know I mean like it's not like the same four people that you know are doing every nine Cent private placement in the mining business I me you got like you know this is some heavy stuff patents you know like technology it's big and you look at the new incoming presidents energy advisors and it's like boom it's all there you know and so that's the kind of stuff we want to we want to play and there's not that many public Equity options you know like

stock options to to work with so like it's not very hard to play that it's early days and um all you got to do is beat the S&P that's all you got to do you know like I mean that's it's it's like people kind of get think you got to have like multiply your wealth every three months forget about it if you grow your money like a little faster than the S&P every year yeah and and you know what I do is like have like a Morgan Stanley guy and then you you just like compete against the guy you know then

you just like give him a hard time at the meetings or whatever you know and you're like come on man it's not that hard you just got to do better than the index so I think that's how people should see next year I mean there's been a big shift you know you had that big shift after the election like certain things started moving so I mean like yield curve is is is upward sloping at the moment which probably means the econom is slowing down the cost to borrow money is like is dare stepping

out like the way that it should to should be doing which means that like you're probably going to have a slump and then you're going to come out of the slump and grow and things are get more expensive I think people they need to understand the price of things is going to go up you know it's not and it's not really like inflation like people are are used to it's not the same thing it's like what you pay for stuff's going to go up and you need to make more money and actually the FED wants you to make

more money the FED legitimately wants you to buy something and sell it for a higher price and I think should go along with it I mean why fight it you know it's like everybody's like fighting it losing money I not everybody but I mean there are people that are arguing about some bad idea that doesn't work it's like just let it all literally Let It Go I mean the first of the year is the best time for you as a person to stop doing things that don't work okay like you got to look at what you've been doing you

know you know if you've been like on a workout or something and you have no results for like two years you actually get a worship shape you got to stop doing that workout okay you got to do a new workout and all you got to do is like try anything because I mean if you're if what you're doing is not working it's like literally anything is better I mean so just make a list of all the stuff in your life that's I mean I do this right I mean it's like I I do this like it's very important and you

look at stuff you're like what results am I getting you know like if I'm if I have like a service provider and I'm getting worse results you just fire them I mean that's like you fire them and and you get a get a different one you know it's like and your your perspective changes when you make these changes and so you could do that with your Investments you look at your investment account and you're like what what happened what was told to me about this okay fine it was wrong people are wrong

cut it get out of there instead of like fighting it and kind of holding on leaving claw marks you know just cut it and let go and January 1 like there's a reason why we have this whole new year concept like in the west is like you just l literally January 1 wake up don't do the same crazy thing you were doing for the last year that cause you to lose money and I hope people can see that like that's that's like you know I think Charlotte the difference between people that are like very successful in in the

business and people that are not are it's just they move faster like they're faster to to double their efforts on something that's working and they're faster to quit doing things that don't work they don't hang around like confused and blaming and like they still do that you know like they just just it's onward and upward and it's one thing to say it's another thing to do but like next week is the time to do that okay well I think that's really good advice for in general but also

because we're starting a new year so thank you for taking the time to explain what you're doing and also what you're not doing this is really valuable and we'll have you back in the New Year hopefully to maybe go a little bit deeper on the energy side but for now this is really good thank you so much definitely and look everybody you know to EB tucker.com I mean this this is like it's kind of about a little bit more than just what stock we're buying at the at the moment but you know it's

comes out every other Thursday at 9 am there's no marketing there's no solicitation it's just me it's the only thing that I write so I used to write for a lot of big people and it's like that's all that I do so it's the number one way to keep up with me and you can can read for free perfect and as I said we'll have the link to that in the video description if people want to check it out so again thank you so much especially coming from such a beautiful location really good to have you once again I'm

Charlotte McLoud with investing news.com and this is Evie Tucker with the Tucker letter thanks so much Happy New Year Charlotte happy New Year 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 comment below [Music]