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Dr Allen Alper Interviews Brien Ludin, Host of the New Orleans Investment Conference.

on 9/17/2019
With a career spanning four decades in the investment markets, Brien Lundin serves as President and CEO of Jefferson Financial, a highly regarded publisher of market analyses and producer of investment-oriented events. Under the Jefferson Financial umbrella, Lundin publishes and edits Gold Newsletter, a cornerstone of precious metals advisories since 1971. He also hosts the New Orleans Investment Conference.

Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News talking with Brien Lundin. Maybe we'll start off with your views on what's happening in the gold and precious metal markets and in some of the other metals. Could you give us your viewpoint? Then maybe comment a bit on what you think investors should consider looking at broadly for investment, both between metals and stocks, and juniors and majors, and royalty companies. Then maybe tell us about your upcoming New Orleans Investor Conference, which is always a great conference.

Brien Lundin: Okay. I think that we have confirmed a long term bull market in gold and silver. Not only has gold moved higher, but the mining stocks have offered leverage to the move by outperforming, and then silver has begun to outperform gold. So those three factors have historically indicated that a longer-term move higher for gold is in place. And just as importantly, it's confirmed that the move is based on monetary concerns and not the day to day headlines or any temporary geopolitical issues.

So this is really a secular bull market in gold, one that will extend for years to come, one that's built upon the foundation of excessive, unmanageable debt, sovereign debt in the US as well as in every developed country, and the necessity for there to be some significant level of fiat currency depreciation, not only in the US with the dollar, but in every major economy around the world.

So this will serve as a long-term underpinning for the gold price. And I think it'll actually help propel it to new records over the next few years. During that process, we'll see mining companies really soar in value from current levels. The major mining indices are still down to about a quarter of where they were at the 2011 peak. So if we only get to that level in this market, the average mining company, the average gold mining producer, will quadruple in value from its current levels. And that's the average. So the better companies are going to do significantly better. And the leveraged juniors, the well-positioned junior mining companies, are going to do far, far better and provide far, far greater returns.

In the 2001 to 2011 bull market, we saw many junior companies go up four or five times in value, some 10, 20, even 30 times in value. And that's in gold and silver, but we also saw the same thing as other little spin-out markets emerged in uranium, rare earths, copper, et cetera. And so I see the same thing happening in this market because it will be, or should be in my view, a long-term, sustained rise in gold.

So I think there's just a world of opportunity right now. The good news for investors is that we have a confirmed long-term trend, yet some of the more-leveraged companies, the junior stocks, have yet to really respond. A lot of them are up 30%, 50% but they have yet to double, triple and quadruple in value. And that's the kind of gains I think are ahead for the sector.

Dr. Allen Alper: That sounds very promising, great news for investors in mining stocks and metals.

Brien Lundin: Mm-hmm (affirmative).

Dr. Allen Alper: Excellent. Is there anything else you'd like to add about the marketplace and what's happening? Maybe comment on the opportunity and risks of investing in metals, junior mining, more established mining companies and also royalties.

Brien Lundin: Sure. I think that this is a tremendous opportunity that investors really need to explore, learn more about and act upon. Now, if they don't have the time or the inclination to really look into the sector, to talk to company management teams, to research individual companies, go to conferences and subscribe to the best newsletters, then they should probably stick to the bigger-name producers and the indices like GDX and GDXJ. And of course the royalty companies are always more highly valued. They trade at higher multiples, but that's because they have a lot of other advantages such as high margins and no operational headaches. So a royalty companies can also be a great way to play the sector in addition to some of the main mining indices.

I do recommend, though, that investors take the time and spend the money to explore the sector in more detail, go to conferences, meet the companies, listen to speakers who are independent and objective and knowledgeable in the sector. Subscribe to some of the half dozen or so best newsletters on the sector and take the time to research it. And if they do that, they should do exceedingly well in this new bull market. And of course they should be careful to devote only a minority position of their overall investment portfolio in this highly volatile and risky area. It has a much higher potential, but much higher risk — so no one should go overboard in allocation to the sector. But it is something that can dramatically outperform any other area during a metals bull market.

And all of this I would recommend be an addition to a core holding of physical metals that someone keeps that is accessible and acts as an insurance policy for the rest of their portfolio.

Dr. Allen Alper: Sounds like excellent insight. Could you tell our readers/investors a bit about the Jefferson Company and also your upcoming New Orleans Investment Conference?

Brien Lundin: Yeah, absolutely. Jim Blanchard started Gold Newsletter in 1971, actually on the day that Nixon closed the gold window, and he used Gold Newsletter as a tool to advocate for the return of private gold ownership to investors. He was successful in that in late 1974 and to teach US investors how to invest in gold, he started having an annual investment conference. That grew to become the New Orleans Investment Conference. Of course, Gold Newsletter is also still going strong, and with both we’re intent on carrying on Jim's legacy.

Over the years, the New Orleans Conference has become known for the quality of the speakers, the fact that every presentation from the main stage is objective, from independent world renowned experts on the subjects and not sales presentations. So it delivers an incredible amount of value. It's featured giants of not only the markets but also recent world history, including Margaret Thatcher, Milton Friedman, Alan Greenspan, Barry Goldwater, Ayn Rand. The list goes on and on, and that's the legacy that we hold true to today.

At this year's conference, our attendees are going to hear leading experts on geopolitics, on economics and every exciting investment sector, including cannabis, technology, crypto and more. Of course, we’re also continuing our long-standing focus on personal liberty, gold and silver as protectors of wealth and ways to leverage a long-term bull market in metals through high-quality mining stocks.

Dr. Allen Alper: Sounds excellent. Is there anything else you'd like to add, Brien?

Brien Lundin: Yeah, the conference runs from November 1st through 4th, and our attendance seems to be up significantly this year. There's still an early bird registration discount that's in effect for the near term, and people will have to act quickly to take advantage of that. But if they do, they can save $400 on registration and get other valuable benefits. And I think you have that link, Al.

Dr. Allen Alper: Yes, I do. I'm running the banner ad right now and the links.

Brien Lundin: Good.

Dr. Allen Alper: I've gone to the conference often and it's a fantastic conference. Not only does it have great companies present that are talking about their company, and opportunity to meet the CEOs, but you also have a great group of speakers, both in the metal industry and outside the metal industry, and very strong political speakers, people who understand what's happening in the world, the political stage as well as the financial stage. So it's a very impressive meeting and very enjoyable.

Of course New Orleans is a wonderful venue. Best food, maybe in the world.

Brien Lundin: Well, I would agree. And I think this year's conference is going to be all of that and more. It's going to be, I believe, one of our most rewarding events because we're at this crucial turning point in the markets where the junior mining stocks have yet to make the really big moves, yet we're confident that a longer-term bull market is in place. So it's a short window of opportunity, and I think this year's New Orleans Conference is perfectly positioned within that that brief window of time. And as a result, attendees this year could make a lot of money and are just going to have a very rewarding experience.

Dr. Allen Alper: That sounds excellent. Sounds like great reasons for our readers/investors to attend New Orleans Investment Conference. Anything else you'd like to add, Brien?

Brien Lundin: No, I think that pretty much covers it.

Dr. Allen Alper: Well, I appreciate your sharing your insights with our readers/investors, and I'm looking forward to attending a great conference.

Brien Lundin: Thanks Al, appreciate the opportunity.

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