You’re Only Ever a Contrarian or a Victim in Natural Resource Investing

Dan and Corey kick off the show by discussing Warren Buffett's recent letter to Berkshire
Hathaway shareholders. In it, he honored his late colleague and friend Charlie Munger, plus
gave updates on some of Berkshire's businesses. Dan and Corey also cover Apple switching
its resources over from electric vehicles to artificial intelligence. (0:41)

Next, Rick Rule – president and CEO of Rule Investment Media – joins the conversation. He
goes into depth on models, such as the discounted cash flow model. He talks about the flaws
with models, why models are only useful for apples-to-apples comparisons, and how a model
can be used on exploration companies or similar companies that don't have revenues.
(24:32)

After, Rick goes into detail on the uranium market. He describes why uranium companies
have mothballed production, what makes uranium so unique in the natural resources world,
the differences between the spot and term markets, and how to interpret uranium
companies' financials. (33:18)

Lastly, Rick calls out several commodities that present good investing opportunities today.
He describes one of them as "stupidly cheap"... another he says is hated by investors and its
market is in disarray... and the final two, he explains, are being sold off because of an
incorrect belief that we don't need internal-combustion engines anymore. Rick even goes
one step further and namedrops specific companies that could be worth looking into to take
advantage of these price discounts. (49:15)