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.
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
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