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Rick feels that gold has returned to a bull market after having based for six years. Over the summer, we broke out to the upside, which has now temporarily stalled. He makes the case that gold is headed to $1700. Money printing and low or negative interest rates are bullish for gold over time.
He says, “In any career you choose, success is a combination of your skill and an element of luck.” He discusses a trade where, in a matter of twenty minutes, he went from very nearly losing everything he owned to having the second-best day in his career.
Time Stamp References:
0:40 - Ricks early career.
2:30 - Outlook for gold in today's climate.
6:00 - How does luck play a role in investing?
11:10 - How he picks bottoms.
17:30 - Favorite author and mentor. 20:50