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Business/Finance See other Business/Finance Articles Title: Snippits from Agora's Vancouver Wealth Conference Byron King — “You didn’t build that, Uncle Sam.” I’m inclined to agree with Eric Fry’s characterization of Byron King, Editor of Outstanding Investments, as “the most interesting man in the world.” Byron’s a former Navy jet pilot, a geologist, a lawyer, and a semi-pro historian... But until Eric introduced him on stage this morning, I didn’t know he could teach a dog to bark in Spanish! Whether he can or not, Byron’s immensely informative, graphically intensive presentation began with a comparison between the U.S. and King Kong. The parallels are frightening: Both are too big for their own good, and fighting for their lives against the entire world. But only time will tell whether both of them end up dead. After that, Byron — in his typical historical-context-first fashion — examined some risen-and-fallen empires throughout time, specifically Rome and Britain... Did you know that both of these empires were “solar powered?” I didn’t. Yet King proves that they were. He also revealed the six “must-haves” that no empire can exist without. Rome and Britain both had all of these things — for a while, at least. But the real question in this day and age is “Why do empires fail?” There are many reasons, Byron says — but two primary ones are military failure and monetary failure. This revelation pretty much silenced the crowd, as Byron took us back to Saigon in 1975, when the last of the Americans fled after our failed military campaign in Vietnam. And one doesn’t need to belabor the point that our currency in on shaky footing. That’s common knowledge... Then, Byron starting talking about “turning points.” Specifically, about how empires CAN turn things around after mistakes or misfortune. Or at least stave off the end for a couple of centuries. “You don’t have to get everything right all the time,” King says. “But if you get the big things right enough over the long haul, you can last a long time.” He proved the point using British history: It took them 200 years to relinquish their Empire card after their “turning point” loss at the Battle of Saratoga! But what I found most interesting — and heartening — about Byron’s presentation was the way he talked about the U.S. That seems to be a common thread with King’s talks over the years... They all make you want to go out and buy sparklers, eat a hotdog, and go to a baseball game in your Chevrolet (pre-Government Motors, natch). After reminding us that the U.S. was NOT an empire until after WWII, Byron then reminded us of how we were able to rally to the call, and ultimately triumph, in the Second World War. It wasn’t with rhetoric or diplomacy. It wasn’t with existing military might (ours was the 15th largest military at the time we entered the war). And it wasn’t with superior tactics, or even deeper pockets. It was through entrepreneurship, and good ol’ American ingenuity. According to Byron, FDR had viewed industrialists with disdain before we got drabbed into the war. But once the bombs hit Pearl Harbor, he realized how badly the nation needed them... People like Bill Boeing (whom the FDR administration sued in the 1930s!), who designed and built the B-17, the deadliest aircraft of WWII, with his own money. “You didn’t build that, Mr. Uncle Sam,” said Byron, to amused chuckles from those in the audience who remember President Obama’s recent gaffe. And people like William Francis Gibbs, who turned out to be the greatest naval architect of the 20th century. “His dream was to build ocean liners,” King says, “He wanted nothing to do with the government.” And yet, he answered the call — and ended up designing 70% of the vessels that saw action in the American Navy in WWII. I can only skim the surface of everything Byron said in this forum. His presentations are always jam-packed with the lessons of history, and the promises of tomorrow. But his overarching point is that America CAN right the ship, no pun intended... When our backs are against the wall, we DO know how to succeed — as we’ve proven time and again. The Big Question is: How can we innovate our way out of the mess we’re in now? Byron’s got some ideas — and he’s also got some ideas about how we can get rich from it... As usual, these revolve around energy, Byron’s specialty. For all the specifics, you’ve got to get hold of the new high-definition video coverage of the 2012 Symposium. That’s the only way you can see all of Byron’s charts and graphics — and fully understand where the opportunity is in all this chaos. Which brings us to our next speaker, a man who specializes in the opportunities that come from understanding chaos... Chuck Butler — “Greece is a pimple.” I’m ashamed to admit it, but I’ve never really known much about EverBank — even though they’ve been a strategic partner of Agora Financial’s for many years... Just like I have. Sort of. And so, before I attended Chuck Butler’s presentation (he’s the President of EverBank World Markets), I did some digging on the company. Enough digging that I’m now considering quitting the credit union I’ve been a member of for 18 years! I thought EverBank was only an “Internet bank.” But as it turns out, they’ve had a number of physical branches in Florida since 1961 — they’ve even got their name on the field where the Jacksonville Jaguars play. However, in recent years they have indeed become one of the world’s biggest online banks (so I was kinda right), in large part because they offer mortgages, investment products, and a variety of other services that put most people’s banks to shame... In fact, they’ve gotten so large that they’re now publically traded. And I guarantee you: Your bank’s president doesn’t know one tenth as much about markets, currencies, economics, and investing as Chuck does. He started off — as a lot of speakers do — with some general observations about global GDP trends. Who’s gaining share (emerging nations), who’s losing share (the U.S. and U.K), and how long it’ll be before China becomes the world’s top dog economy (4-5 years). But where Butler differs from everybody else is in his analysis of what that means... Especially for the U.S. dollar. “What scares the heck out of me,” says Chuck, “is that China has signed an agreement with the Arab countries — and that [their] oil is no longer priced in dollars.” Why’s that a big deal? According to Chuck, it’s strong evidence that the dollar’s status as the world’s reserve currency will soon be challenged... What makes it even worse, Butler maintains, are the four other things China’s doing right now to intentionally undermine the U.S. dollar, and replace it with a rival Chinese currency. President Obama’s helping them do it, too. His call to “double exports” in the U.S. over the next three years would actually weaken the dollar... Chuck explains why in his talk. And the reason is pretty damn scary. But it’s not as scary as his comparison of the dollar to the Euro — which looks relatively favorably on the Euro! Perhaps not now, but soon, “[The Eurozone] is going to look like a million dollars compared to what’s going on in the U.S.” according to Chuck. Why? In a particularly scary PowerPoint slide, he lists NINE reasons (and adds a few more off the cuff) why America’s facing real, perhaps “empire killing” economic trouble. Among those, just this one fact is enough to chill the blood in your veins... 77% of American businesses are NOT considering hiring anyone in the near future! I don’t know what’s scarier, that or the fact that true unemployment in the U.S. is close to 23%, according to Butler. Chuck’s also great at putting the whole European situation in perspective. “Every day, at the end of the day, the discussion is going to be about Greece,” says Butler. But this may not make a lot of sense. “Greece’s economy is about the size of the Dallas/Ft. Worth area. If they default, who cares?” The pundits do. But not the smart money, according to Chuck. Where SHOULD the smart money go? Butler’s got three specific recommendations, tailored specifically for these conditions... And I’m sure my notes really don’t do them justice. For best results, you should get either the CD and MP3 audio — or new high-definition video — coverage of the Symposium, and make note of them yourself. Yikes. I’m already at 1830 words, and I’ve still got a lot of ground to cover. Onward! David Franklin — “We’re in uncertain times.” That may seem like an obvious sentiment. But what’s not so obvious is what you should do to make (and keep) money in these times... David’s got some great perspectives on it — his presentation was one of the best I’ve seen yet. Punchy, credible, and with LOTS of charts, graphs, and statistical backup. In my book, Franklin’s got automatic street cred. Because as the CEO of Sprott Private Wealth LP, he rubs elbows often with Rick Rule, one of my favorite analysts. But after seeing his presentation today, Franklin’s now high on my list, too. Let me show you why... “What I’m talking about today is managing wealth in uncertain times,” says Franklin, as he opens his speech. “I work with a lot of wealthy individual who say, ‘Hey, Dave, I’ve made my money... please help me invest in this tumultuous market.’” Although I’m nowhere near rich, I want to know the answer to that question, too. What’s a defensive investor to do? I also want to know — in clear and concrete terms — why there’s so much uncertainty now. And in the first part of David’s speech, I get my answer... In the very first slide, he lists the eight major causes of the uncertainty that seizes the hearts of most investors nowadays. In a nutshell, it’s because right now, there are a lot of what he calls “unknowns.” But the silver lining is this: If you know what to look for, there are also a lot of “knowns,” according to Franklin. And these can be played for solid gains — and for solid asset protection. One of the things that struck me most about David’s talk was how he characterized the bond bubble situation. I haven’t heard any other analysis that’s quite like his. Since I have only a cursory understanding on bond dynamics in general, it would be hard for me to explain it to you as he did... But basically, he equates the bubble in bonds to a “bubble in fear.” And his mega-chart on the bond situation is worth the price of admission by itself. It put the whole thing into better perspective than anything else I’ve ever heard. After seeing it, I actually understand a little about what’s going on with foreign bonds — and no longer think I’m insane for wanting to stockpile cash in my gun safe, instead of putting it anywhere near bonds. Further, Franklin’s chart illustrating why additional rounds of Quantitative Easing may not stimulate the market was the single best chart I’ve seen at this event yet. When you see it, you’ll agree... “I hear it from people, and I read it in the newspapers,” says Franklin. “[They say] ‘Quantitative Easing will correct the market, and will make the market rally’... “This [chart] would say that we’ve lost the impact of QE.” Scary, huh? But it still doesn’t answer the question: What DO I do with my money? Well, Franklin’s got a three-pronged approach to nurturing and increasing wealth right now that makes more sense than anything else I’ve heard recently. I don’t have the time or space to outline all three of these things for you in this forum — but I can give you a snapshot of one of them. According to Franklin... “If you’re not in gold stocks, now’s the time.” Franklin’s calculations of the prices of these stocks vs. NAV (Net Asset Value) indicates that they’re trading right now at historic lows... And that the right ones now offer you a chance at gains of up to 120%! Not bad for a flat, uncertain market, huh? Again, I’m only scratching the surface here. The only way to really understand what David knows and believes about the market — and what he recommends for preserving and enhancing your wealth in it... Is to snag your own copies of the event coverage, available in both audio-only and video versions (which also include the audio options as a “platinum” package). Yeesh, I’m at 2,509 words — and haven’t even covered half of today’s speakers... Well, here’s at least one more, real quick. Michael Covel — “Your money is at risk, period.” I’d heard of Michael Covel before. Among other titles, he wrote The Little Book of Trading — and the perennial bestselling Trend Following. Both of these have been on my reading list for a while now... However, after seeing his presentation, I’m going to read them both as soon as I get home from this trip. And everything else he’s ever written! I never thought that a single, 40-minute presentation — by anyone who’s last name isn’t Buffet — could completely change the way I think about how I’m going to make money from now until I retire... But that’s exactly what Covel did to me. Seriously, I don’t have the time or space to do his presentation justice here (it’s already 11:22PM, with a midnight deadline). However, I can quickly run through just a few of the things it showed me: The key to winning in any market is to NOT buy into a narrative — but only to buy into trends “Buy-and-hold” is a losing proposition — just ask the Japanese, or anyone who’s trusted their nest egg to the Dow over the last 13 years Trend-following has outperformed the S&P by as much as 770% in the last 38 years Being successful at trend-trading does not require ANY knowledge of fundamentals, sectors, industries, balance sheets, financials, or management Your money is always at risk, no matter what you invest in — but with trend trading, you can control the downside Now let me be clear: This stuff isn’t just some guy’s opinion. It’s all backed up by the facts, as Covel’s abundant charts and graphs prove. Again, I could go on for a thousand more words about the revelations about making money I got from just this one presentation. But I just can’t do it. I’m only one man, and there are only so many hours in a day. And I’ve got to wrap this up right now. Pity, because there’s SO much I didn’t get a chance to cover today — like Frank Holmes of U.S. Global Investors, author and newsletter guru Marc Faber... I couldn’t even get to my favorite event: The one-of-a-kind Whiskey Bar panel discussion. I used to sit on that panel myself, and I’m telling you, anything — and I do mean anything — can and does happen on it. And this year’s event was just as lively as ever... But you know, it’s one of those “you had to be there” things. I’m a good writer, but I’m not good enough to capture the unscripted hilarity that’s typical of this yearly slug-fest. My best advice to you is to spring for our new, high-definition video coverage of this event. It’s the only way you’ll get all the information and entertainment the Symposium has to offer... Because so much of it (and more every year) is in the charts, short films, and graphics these incredible thinkers show along with their presentations. Sure, you can save a few bucks by getting the MP3/CD audio coverage — and you’ll still learn boatloads... But the best deal by far — in terms of dollars per unit of information — is in the high-def video option. Agora Financial is calling this the “platinum” package (because it also includes the audio MP3s and CDs, as a bonus). Prices are $99 for the MP3 digital audio files, and $149 for both MP3 and CD audio coverage... But it’s only $199 for the full boat: High-definition video, complete with all charts and graphics — plus the CDs and MP3s thrown in for good measure. (Click here to choose which option you prefer) And don’t forget: These prices will be going up by as much as 50% after my coverage of this event ends. Jim Amrhein Roving Reporter Post Comment Private Reply Ignore Thread
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