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Brent Johnson Milkshakes Pod | Investing • Finance
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The High Cost of NOT Listening to a Legend regarding Gold & Silver

decoded from Brent Johnson Milkshakes Pod | Investing • FinancemacroTrainingWatch on YouTube
NowPress play to follow along0:00 / 21:26
Chapters12 segments · tap to seek
ticker lesson

Breakdown

0:01lesson

The American experiment and the context of the video

  • Welcome to Milkshakes, Markets, and Madness
  • July 4th weekend
  • Enjoy the fruits of the American experiment
  • 250 years of success with challenges ahead
1:48lesson

Setting up a gold fund and seeking advice

  • Set up a gold fund in 2012
  • Physical gold outside the banking system
  • Hedge with mining shares
  • Reached out to Rick Rule, Don Kagan, and Jim Rogers
3:29lesson

Meeting Jim Rogers and the advisory board process

  • Met Jim Rogers in New York
  • Wore a three-piece suit and tie
  • He was on a stationary bike
  • He agreed to be on the advisory board
5:06lesson

Securing Jim Rogers' investment

  • Sent him information and asked for investment
  • He agreed to invest
  • Sent a check
  • He was on the advisory board
6:41lesson

Hedging the gold fund in 2013

  • Gold had a big draw down in 2013
  • Hedged the portfolio
  • Silver also had a selloff
  • Hedges helped but it was still painful
8:26lesson

The blood in the streets moment and the decision to pull hedges

  • Gold and silver had a big selloff
  • Hedges helped but it was still painful
  • Silver and gold rocketed higher after pulling hedges
  • Gold went from 1220 to 1400
10:15lesson

Meeting Jim Rogers and the QE debate

  • Met Jim Rogers at a conference in San Francisco
  • Discussed the Fed's QE policy
  • Jim was skeptical of the analysis
  • He warned about the market bottoming
12:25lesson

The lesson of pride and the importance of humility

  • Jim Rogers warned about the market bottoming
  • The speaker did not listen to Jim
  • The market did not follow the expected path
  • The speaker learned a painful lesson
13:59lesson

The Fed's decision and the market's reaction

  • The Fed did not taper QE
  • Silver and gold did not continue to rise
  • Investors plowed back into equities
  • Silver fell back to its lows
15:52lesson

The importance of listening to legends and learning from mistakes

  • Legends like Jim Rogers and Rick Rule have insights
  • The speaker learned from his mistake
  • The legends are not wrong
  • The speaker now questions his assumptions
17:47lesson

The long-term impact of the market and the importance of adaptability

  • Silver remained around $20 for years
  • The speaker and Rick Rule sold silver
  • The market is cyclical
  • The speaker learned to question his assumptions
19:46lesson

The final lesson and the importance of an open mind

  • The speaker learned a painful lesson
  • The importance of questioning one's certainty
  • The speaker now keeps an open mind
  • The speaker hopes others learn from his mistake

Informational only — this is Brent Johnson Milkshakes Pod | Investing • Finance’s content, decoded by Plutus. Not Paid Daily’s advice or a recommendation. The outline, timestamps, and claims are extracted from what the creator said; verify before acting.