Conversations with Fund Managers – Rick Bensignor – Buy The Dip, When Do Valuations Actually Matter?
Rick Bensignor, President of Bensignor Investment Strategies and editor of Supposedly Irrelevant Factors, joins the KE Report for a deep dive into today’s market environment. Rick’s institutional insights are followed by some of the most successful hedge funds worldwide, and he also shares strategies through his Tactical Trader and Daily Tip Sheet reports at the In the Know Trader website.
Discussion Highlights:
- Bull market momentum: Why shallow pullbacks continue to be bought and Rick’s next upside targets for the S&P 500 (SPY).
- Sector rotation & small caps: How falling rate expectations are fueling Russell 2000 outperformance and broadening market strength beyond mega-cap tech.
- Valuations & risk management: Why “valuations don’t matter until they do” is a dangerous mindset, and how Rick applies behavioral finance and timing models to identify exhaustion points.
- Is the 60/40 portfolio dead? Why Rick believes bonds are no longer the safe anchor they once were, and why stocks, gold, and alternatives should play a bigger role in modern portfolios.
- Investor psychology: The disconnect between market headlines and underlying economic risks, from U.S. debt to consumer leverage.
Rick shares decades of experience as a trader, strategist, and fund manager—offering tools to navigate a bull market that looks unstoppable on the surface but carries hidden risks below.
If you notice a lot of the PM stocks have been attracting heavy volume now for weeks and a lot of them have broken out. I agree with what Livermore said and have used it for years. The other thing I realize is that cycles come and cycles go and I use that in many of the commodity areas and start to accumulate hated sectors when prices are depressed. I cost average down and then wait. You have to be patient and when those sectors start to move with increasing volume I have a good position in place and then I hit them hard with probably 50% more in a position and ride them higher. Right now the energy area is depressed and I’m starting to slowly accumulate. It has time yet to bottom out and I continue to cost average.
Hi Doc! Jesse Livermore committed suicide so be careful following him. Are you betting on the Longhorns or the Buckeyes next Sat? Have you bought HGRAF?
When you think of the metallurgy that was around after the Second World War, and what we have now it is astounding. The future holds much more than that as companies like HydroGraph start producing commodities in a lab, using robots. Artificial diamonds were just the beginning. Technology is taking mining to new frontiers. DT
Precious Metals Update – BPGDM, GDX, Gold, Silver, and SIL
Excelsior Prosperity w/ Shad Marquitz (08-24-2025)
https://excelsiorprosperity.substack.com/p/precious-metals-update-bpgdm-gdx
I think, Rick Rule said we are in the third inning of the gold bull market
I think, he also said that this bull market will be more impressive than the 1970‘s bull market
There will be also impressive set backs, before an hyperbolic run
Would be nice to get an interview with him on this topic
Good suggestion Thomas. I actually saw Rick this last weekend on Saturday at Jayant’s conference, and invited him back on the KER. We’re working on scheduling that for down the road.
I listened to an interview with him recently where I think he said the 6th or 7th inning, but those kinds of “What inning are we in?” talks are always subjective and nebulous. What is absolutely clear is that we are NOT in the 1st or 2nd inning, which was the point laid out in my article.
Your reports are always amazing in thoroughness and volume. Great update and thanks as always.
Yes. Unparalleled.
Much appreciated Lakedweller2 and BDC! Glad it was of value.
Hi Chad, have you bought any HGRAF or looked at it? The chart is scary but they might be on to something bigger than Coca Cola was in the last century. It’s Jay Taylor’s biggest holding by far.
Quien es mas macho, Hydrograph or Heliostar?
Hi there Bonzo. No I don’t own Hydrograph, but am aware of their graphene patent and the potential for it. Yes, I do own Heliostar and really like them as a growth-oriented gold producer with a nice pipeline of projects and exploration upside as well.
Monday News: Omai Gold trading halt. Scorpio Gold drill results. District Metals change in ownership announcement with Barsele.
FWIW: Daily algo trend continues using Magna or EMO to neutralize accounts. Today Magna gains are offset by EMO losses. Afternoon trading adjusts more to reality ….generally, Says nothing but reflects intervention continues.
Impact news: +27% gains in earnings or something like that
More importantly they swung back to a loss. Digging more, losing more. Time for another pp?
https://tinyurl.com/bddmb9wj
WRLGF: 75¢ ATHBO Soon?
First Buy.
Omai addresses Halt with press release with increase in indicated and inferred.
Yep, saw the news out on the resource update, and working on getting Elaine back on the show later this week to unpack the key takeaways for the KER crew.
Omai didn’t move that much on the resource add … but I am thinkin it will
Jesse Livermore looks for volume in a stock that creates momentum. He say’s, “When a stock breaks out to new highs and it does so with conviction, that’s not the time to hesitate that’s the time to act. The same replies in reverse. I made my money by riding waves that already started, not by trying to start my own. The trend is your ally.”
Livermore never tried to guess where the market was going he always followed wherever it led. The only time he lost big was when he tried to figure out where it was going beforehand. He say’s “don’t buy cheap stocks, there is a reason they are cheap because nobody wants them.” DT