Now is the time to be in defensive mode with your portfolio

August 9, 2019

Chris Temple, Founder of The National Investor joins me to wrap up the week by explaining why he is going full on defensive with his portfolio.

Click here to visit Chris’s site and sign up for his newsletter.

    Aug 09, 2019 09:43 AM

    The problem is that the BLS measure of inflation is just plain wrong.

    It measures rent NOT house prices, and rent is not keeping pace with house prices as interest rates DROP.
    There is too MUCH SUBSTITUTION taken place in the inflation calculations……artificially keeping inflation to appear LOW.

    Why does the BLS measure of inflation being low matter ?

    It makes everybody think the economy is doing OK. IT IS NOT OK. if you deduct the inflation number (which is too low) in reaching the GDP, the GDP number comes out TOO HIGH.

      Aug 09, 2019 09:14 AM

      Compounding the problem with the BLS is the fact that the purchasing power of sound money goes up over time. Even most gold bugs are unaware that sound money goes up in value because it accounts for and passes-on the saving that result from better technology and other advancements in the way we do things. You think flat screen TVs have plunged over the last two decades? Try pricing them in gold and you’ll see that they have crashed to almost nothing.
      Sound money protects the least among us which is why totalitarians despise it. Over the long term, a return is built-in.

        Aug 09, 2019 09:09 AM

        Ditto ………on……Over the long term, a return is built-in.

        Aug 09, 2019 09:16 PM

        Well said.

          Aug 09, 2019 09:58 PM

          Totally agree

    Aug 09, 2019 09:49 AM

    The central bank lowering interest rates is NOT coming through to the real economy.

    Have your credit card interest rates been lowered ? NO.
    Have your mortgages rates gone down ? They did for a while, but stopped dropping.
    Has student loan interest rates been lowered ? NO.
    Have car loan interest rates gone down ? They did for a while, but no longer going down.

    The only reason the Fed is lowering interest rates is to cut the carry cost of the National Debt.

      Aug 10, 2019 10:25 AM

      So true cfs! Here in Aus alot of lenders are not passing on rate cuts in full as per our Reserve Bank cuts. Thankfully this does not aplly to me.

      Somewhat worringly, our Reserve Bank chairman has not ruled out unconventional methods to stimulate the nations economy in the future, ie: quantatative easing, zero or even negative interest rates etc. This rhetoric is unheard of! A sign of the times i guess.

    Aug 09, 2019 09:54 AM

    Mr. Temple is correct about manufactured goods.

    But there will be a shortage in agricultural products. There will not be an over-supply in this area, because of weather dependency.

      Aug 09, 2019 09:24 AM

      Agreed, cfs — looking at some ag and related themes.

    Aug 09, 2019 09:56 AM

    Egon von Greyerz, 01 Aug 03:10 PM

    Aug 09, 2019 09:57 AM
    Aug 09, 2019 09:12 AM

    This is where a central economy has an advantage:

    Rare Earths.

    Aug 09, 2019 09:29 AM

    Did you know gun sales are high ?
    The Nation Instant Background Check System is reporting 16 million inquiries in the first 6 months of this year.

      Aug 09, 2019 09:46 PM

      We had all better buy an AK-47 while they are still legal, unless Matthew prefers the AR-15. My Winchester model 1894 30/30 holds just 5 or 6 rounds.

    Aug 09, 2019 09:35 AM
    Aug 09, 2019 09:50 AM


    Aug 09, 2019 09:51 AM

    Still like gold …….OOTBank………

    Aug 09, 2019 09:53 AM

    Temple got bit by a Sand flea…… careful with the red tide…

      Aug 09, 2019 09:13 AM

      That is 100% correct………
      This column is supposed to be about national security and geopolitics. But these recent conversations reinforced the feeling I have had for some time regarding our security: The greatest threat the United States faces is from inside — the scourge of socialism.

        Aug 09, 2019 09:15 AM

        But, I do not think it is just socialism……..the elites have a lot more , with their secret societies…….fbi,doj,irs,gop,dnc,mic, fed.

    Aug 09, 2019 09:25 AM

    Have you seen the latest bias?

    Go to an MSNBC piece on youtube where they have lied about Trump and try to give it a “thumbs down”

    Their really pro-Democrat pieces can only get “thumbs up”
    Click on thumbs down and nothing happens……no registration disapproval number

      Aug 09, 2019 09:44 AM

      I never watch MSNBClub………

        Aug 09, 2019 09:46 AM

        Loud mouth dumb a….. , kind of a joke …..

          Aug 09, 2019 09:47 AM

          Kind of like listening to Gomer Pile Crammer ……….

    Aug 09, 2019 09:56 AM

    Brixton Metals has now quadrupled since bottoming in June 7 weeks ago:

      Aug 09, 2019 09:00 PM

      Brixton has been on a tear for sure. Highly anticipated drill results at Thorn and Atlin and recent investment by Sprott driving the investor interest.

      I’ll confess to lightening up a bit today as I was sitting on profits and wanted to trim the position down in size a bit to deploy in other areas after such a surge. I left 2/3 of the position in place though to see if they hit it big with the drill bit this season.

      If it keeps surging on good news, then I’ll likely cash out, but it depends on how zesty the drill hits are. Wishing Brixton and investors that follow this story all the best.

    Aug 09, 2019 09:02 AM

    I didn’t benefit from it but CDE was $3.49 at the time of this exchange:

    On June 12, 2019 at 1:31 pm,
    bonzo b. says:
    Looks good for silver, Matthew. What do you think of CDE?

    On June 12, 2019 at 2:35 pm,
    Matthew says:
    It looks very good to me. The bears are running out of time…

      Aug 09, 2019 09:40 PM

      I also failed to buy CDE, but I did buy PSLV.

        Aug 09, 2019 09:26 PM

        Hope no one has been holding HECLA & GSV

          Aug 09, 2019 09:20 PM

          Nope but I do have some Fresnillo stock going cheap

    Aug 09, 2019 09:32 AM

    Jeffrey Epstein Accuser Names Powerful Men in Alleged Sex Ring

      Aug 09, 2019 09:36 AM

      The word … CLAIMS……
      Virginia Giuffre claims that Jeffrey Epstein and Ghislaine Maxwell trafficked her to politicians, princes, and a high-flying financier, among others.

        Aug 09, 2019 09:38 AM

        Noticed that some of the Intel people are not back on the show… lol

          Aug 09, 2019 09:39 AM

          Do not look here…….look there…….. 🙂

    Aug 09, 2019 09:53 AM
    Aug 09, 2019 09:07 PM

    Glencore To Shutter Giant Cobalt and Copper Mine In Congo

    Bloomberg News – August 6, 2019

    “Glencore Plc is planning to halt production at one of the world’s biggest cobalt mines after prices for the battery metal collapsed and costs at the project increased, according to a person familiar with the situation.”

    “The announcement that Glencore will close its Mutanda mine in the Democratic Republic of Congo is expected to come as the company lays out an overhaul of its key African copper and cobalt business when it releases first-half results on Wednesday. It would be another setback for Glencore, which has been dogged by operational problems, legal challenges and a rift with Congo’s government over a new mining code.”

      Aug 09, 2019 09:09 PM

      Glencore Zambian unit closes two mine shafts; opposition sees 1,400 job cuts

      Reuters – August 8, 2019

      “The closure of the two uneconomic shafts was always part of our plans,” Mopani said in a statement, adding that the move would allow it to channel funds towards the completion of other expansion projects.

        Aug 09, 2019 09:12 PM

        First Cobalt and Glencore Conclude Term Sheet for Refinery Restart

        by @newswire on 15 Jul 2019

        First Cobalt Corp. (FCC) (FTSSF) is pleased to announced that it agreed on a term sheet with Glencore AG outlining the framework for a non-dilutive, fully funded, phased approach to recommission the First Cobalt Refinery in Ontario, Canada. The framework remains subject to a number of conditions and outlines the key milestones to a long-term strategic relationship that could bring a reliable source of domestically refined cobalt to the North American market.”

      Aug 09, 2019 09:52 PM

      Investing in areas of question……but, World Wide Slowdown?…..China man slow mow…

    Aug 09, 2019 09:22 PM

    Gold, 2011-2015, 50% = $1484 (FX Street).

    Aug 09, 2019 09:30 PM

    What you think of diss jong people AL ! ?

    Aug 09, 2019 09:00 PM
      Aug 09, 2019 09:46 PM


      Chase cancelled an affinity credit card for me in the states, without giving a reason and I just paid off the card, which I do every month anyway, but I was annoyed enough to send them back another Chase card cut in two and told them I was displeased.

      A pity Gold could not stay above $1500, but at least Silver stayed above $17.

      Aug 09, 2019 09:07 PM

      Not really a Debt Jubilee so I hope you are sort of joking.

    Aug 09, 2019 09:49 PM

    nenner and bob both say a correction is about to happen.

    Aug 09, 2019 09:56 PM
    Aug 09, 2019 09:45 PM

    Malaysia Indicts 17 of the “Untouchables” at Goldman Sachs
    By Pam Martens and Russ Martens: August 9, 2019 ~

    Malaysia Attorney General Tommy Thomas

    When it comes to serial and systemic frauds perpetrated by big banks on Wall Street, the U.S. Department of Justice typically punts. It will either not charge the bank itself or it will issue a felony charge along with a non-prosecution agreement that lets the bank settle the charges without a trial. These tactics by the Justice Department are why Wall Street crimes remain serial and systemic in nature.

    Aug 09, 2019 09:28 PM

    Sven Henrich @NorthmanTrader
    9 Aug 2019 – 12:25 PM

    “Hi, I’d like to refinance my negative yield mortgage.”

    “My old one was pegged at -1%, but now rates are at -2%.
    Pay me more please.”

      Aug 09, 2019 09:33 PM

      July 29, 2019

      “Do investors recognize how much risk they’re taking on at this stage in markets? I think it’s a highly relevant question as things may not be as well as they seem. On the surface all looks well as markets just made new all time highs in July and big cap stocks such as $AAPL are near trillion dollar valuations and show strong balance sheets.”

      “But there’s something insidious going on underneath the valuation equation and that is: Investors are paying higher and higher forward multiples not realizing that they do.”

      “Why? Because corporate profits are actually not expanding. Not only are they not expanding they’re shrinking on an aggregate level.”

      “What if I told you corporate profits before taxes actually peaked in 2014, 5 years ago? Really, it is true…”