[TENSE MUSIC]
- Hi, I'm Peter St. Onge.
Days from now, America will decide its future.
Hundreds of millions of people will cast their vote in what
The New York Times calls
"the most important election since 1860."
With November 5 barreling down upon us,
America is at a boiling point.
Everywhere you turn, everyone you speak to,
one question infects their mind.
Who will win?
What does it mean for me,
my way of life and the future of our country?
To find the answer,
I've traveled to a secluded stretch of farmland 53 miles
from the swamp, from Washington, D.C.,
because it's here, on this 320-year-old farm,
that one man says he knows what's coming next,
one of the world's most influential economists.
His followers include famous politicians, billionaires,
venture capitalists, and bankers.
Barron's called him, quote,
"prescient." Others have even called him a prophet.
Of course, there are those,
typically the more mainstream thinkers,
who vehemently disagree with new ideas,
and who think he's just made a few lucky calls.
Either way, I'll let you decide.
All I know is that over the past 25 years,
he and his team have predicted major economic and financial
moves in both directions, long before the mainstream media
even understood what was happening.
So now, on the eve of the most important political event of
our lifetime, he has an urgent new warning for all Americans.
He says, everything you've heard about this election is missing the point.
Who you vote for, who wins the White House,
the policies they put in place,
all of the divisive political rhetoric of the past year,
it is all smoke and mirrors,
a way to distract you from the only issue that actually matters,
the only issue that neither party will even talk about solving.
So my guest today says that what's coming on November 5 is
far bigger and far more important than any issue you've
heard on the campaign trail.
Both the convergence of unseen financial forces that have been
building under the surface for years,
in some cases for decades, and have now hit a breaking point.
He believes that as these forces erupt,
they could trigger an unstoppable chain reaction that
could destroy millions of unsuspecting investors'
wealth while potentially making a fortune for those who know what's coming.
Which side of this divide you're on depends on what you
do before the polls close and before this economic, social,
and financial crisis reaches the point of no return.
While that might sound crazy right now,
just remember that for over a quarter of a century,
many of this man's biggest forecasts have been right on the money.
Today, I've traveled to this historic 130-acre farm in Maryland to
speak with the one and only Porter Stansberry.
Porter has agreed to share everything he has uncovered
about the 2024 election, who he thinks will win and why,
what his political insiders are telling him,
the election shock he thinks is coming,
why both parties are powerless to prevent America's breaking
point, the only assets he thinks you should own moving
forward, including Porter's highest-conviction investments,
the money moves he's urging on his friends and family.
So let's get to the full story.
Porter has made a career of never pulling punches.
Much of what he says today will no doubt anger a lot of people,
especially anyone who is blindly loyal to their political party.
But for those who are willing to listen,
this information could be critical because Porter thinks
millions could be blindsided by this crisis.
But if you're prepared,
it could be one of the greatest wealth-building opportunities
of your lifetime.
Porter, thank you for sitting down with me today.
So I wanted to come here because you've been privately
sharing some very disturbing facts about the election that I
don't think a lot of people understand.
You don't shy away from speaking your mind,
but I think this prediction of yours could unnerve a lot of people.
- I just want you to know, Peter,
that I appreciate you being here with me because you're
putting yourself in the line of fire too.
I know that most of the folks watching this are going to
absolutely refuse what I'm about to tell them about the
coming election and about what will inevitably happen to the
country afterward.
It is obvious to me,
but it flies in the face of everything that most Americans
believe because most Americans still believe that what they're
being told in the media is true.
So I want to start by addressing this point up front.
My warning to you today is not about politics.
I am not a Democrat or a Republican.
And my position, I can't allow my analysis to be clouded by tribal political
thinking because
a lot of investors with billions at stake rely on me to
be impartial, objective, and thorough.
So let me be clear about this.
I don't care who you vote for at all.
I don't care what you believe about politics.
Believe whatever you like.
Today, everyone in America is so obsessed by politics that they
are completely ignoring a crisis that's already destroyed
about half of Americans,
and is going to destroy the rest of our country in the next
18 or 36 months.
To use a metaphor,
it's like all of America is in a giant football stadium,
rooting for their particular team.
You've got the people who say the blue team's going to win.
You've got people saying the red team's going to win.
And you've got all the media commentating about who's a
point up and who's a point behind.
And everyone's focused on that while meanwhile,
right outside in the parking lot,
Godzilla is smashing cars and is about to breathe fire into
the folks sitting in the stadium.
And no one's paying any attention.
And here is the part that I hope will resonate with people
and get them to pay attention.
The truth of the matter is,
it does not matter who wins this election.
Not one bit.
- All right,
I love the Godzilla reference, but hold on.
That is quite the claim. Nobody's going to believe that.
People are obsessed, right now, with the election.
- I'll go even further than that, Peter.
In one way, your vote doesn't even count.
Of course, your vote matters in terms of the social and cultural issues
that seem to dominate our politics these days.
You want to vote with your tribe,
not with the other tribe.
I get it.
But all of this stuff that you think you're voting for is all
just noise that's meant to distract you because whoever
wins, whether it's Kamala or Trump,
there is something far bigger at play in our country right now.
And it's something that is far beyond either one of the
political candidates' control.
It's bigger than party politics.
It's bigger than individual policy decisions.
It's even bigger than the entire presidency itself.
And as these trends come to a head,
these things go well beyond, like I said,
the tribal-affiliation nonsense.
It's these things that actually matter in our country and in
our economy.
And this crisis is coming to a head.
When it happens,
it's going to forever transform the life of every single man,
woman, and child in America.
And whether that impact on your life is positive or
negative completely depends on what you do,
not what the politicians do,
and certainly not what they say.
And it makes absolutely no difference how you vote.
It matters what you do right now,
before this election.
- Now, we've spoken privately about some of this, Porter.
I know you believe these forces are behind a lot of the
economic and social malaise that is plaguing America.
Now, whether it's sky-high inflation,
the vanishing middle class, businesses going bankrupt,
savings evaporating, debt, of course, soaring,
repossessions even soaring--
- Yeah, but Peter,
it goes deeper than just these basic economic problems.
These are the symptoms that you're seeing.
And by the way,
the symptoms are also what's driving the social erosion that
we see all around us.
Sociologists call this phenomenon "anomie."
And it's the dislocation of society's norms and ethical standards.
But what's really causing all of this,
it relates directly to our money, back to the dollar.
When money is sound and stable in a free market,
then cooperation is easy.
You can easily make a contract with goods or services over many years,
knowing that the underlying values in our society are stable.
When the money is stable, the society is stable.
But that's not true anymore at all.
Since 2010, when all this got started,
these economic forces are destroying America,
and not just our purchasing power or our wages or an entire
class of people, the middle class.
It's destroying our nation.
It's destroying our shared belief in
the destiny of America.
That whole idea, that whole American exceptionalism is
completely gone.
And that's why we've seen things in the last few years
that no other American in history,
maybe outside of the period of the Civil War,
could have imagined would ever be tolerated in our society.
Whether that's that senator who's been wearing a hoodie to
the Senate floor or expecting the government to pay for your
personal college debts or Kamala's
recent madness, offering $25,000 of taxpayer money to
pay for immigrants' personal houses.
If you told this to people back in the 1970s and 1980s, even the 1990s,
no one would believe that this could happen in America.
And every day, it's one more gross,
ridiculous perversion of what it means to be an American.
It's no longer the Americans against the world.
What was it they call it, a city on the hill,
a beacon of light and hope for the world.
That's all gone.
Right now in our country,
it is very much an ongoing war of different interest groups.
And as these economic, political,
and social conflicts come together,
we are going to see everything I'm talking about get
dramatically worse.
The entire economy is going to unravel.
And this crisis is going to unleash an enormous transfer of
wealth because when everybody starts fighting over the crumbs
that are left, there's going to be one group that wins.
And there's going to be a whole bunch of people who lose.
And that process is already underway.
If you go back to my Godzilla metaphor,
about half the people in the country have already seen all
their wages and all their savings wiped out.
It's why Dollar General, which is a deep-discount retailer,
has seen its stock collapse.
And there are just already been millions of people who've been wiped out.
But it's not going to stop at the middle class. It's not.
It's going to come next for people who are retired.
It's going to come next from people who have white-collar
jobs and high salaries.
And if you understand what's happening,
what's really causing all these problems,
you're going to see it's going to lead to transformational
wealth, of course,
for the elites and the few people who know what's going to
happen and when.
- So now, you believe the election is going to be some sort of a
trigger, like a tipping point for some of these forces?
- Yeah, I do because whether or not it's Trump or Harris,
and whatever their public policies are,
and whoever they appoint as the new chairman of the Fed,
and no matter what promises they make to the American
people in public, the reality is,
they know the government is totally powerless to stop these problems.
And these problems are going to continue to destroy our country.
What will be interesting is the way that they go about allowing
the elites to win.
And following those decisions will be absolutely critical.
- So you're saying in a way,
the next president is going to end up destroying America by
trying to save it in his or her mind?
- No, not intentionally.
The problem is that both Trump and Kamala actually believe
their policies are going to save America.
As crazy as it might sound to me and you,
Kamala actually thinks that the key to saving the dollar is
something as absolutely nonsensical, is trying to tax
unrealized capital gains,
which will destroy the capital markets--
that won't help--
or price controls.
Well, they've worked every time they've been tried.
No, that's going to just set a wildfire to inflation.
So if Kamala is elected,
these things are going to come to a head in one way.
But by the way--
and this is going to upset people--
if Trump is elected,
then these problems are going to come to a head in a different way,
but just as violently and just as negatively for most
Americans. So look, I agree with a lot of Trump's policies.
But they are not going to stop the coming dollar crisis
because as you remember from his first term,
he is not going to do anything to try to balance the budget.
The debts are already out of control.
And they're about to take off.
- So you're saying no matter who wins, our fate is sealed.
- Peter, it's not just that.
If you look, our fate has been sealed now for about a decade.
Countries that begin to use these kind of
economics, printing money to buy the government's bonds,
printing money to manipulate interest rates,
printing money to just give to college students,
that's the way you end up with a
country like Zimbabwe.
It's not the way you end up with a country like
Switzerland.
So we've been on this path for a long time.
And what people don't realize is,
we are now past the point where there is absolutely no
way to stop it.
It's the same thing as when I told people back in 2006 that
there was no way to stop the bankruptcy of General Motors.
It had gone well past the point of being able to be saved.
Today, we're at a point in America where our debts are going to be restructured.
Whether that happens in an overnight collapse of the treasury market,
whether that happens with all the banks being shut down and
everyone's wealth being stolen,
I can't tell you exactly what will happen to be the final trigger.
But I can tell you what it will mean to Americans today.
And listen, I love our country, absolutely love America.
I've been all around the world. There is no place like America.
And I know that our nation will survive this crisis.
We will get through it.
But it's going to be absolutely gut wrenching and terrible
for most Americans.
For the last 50 years,
almost every single member of our political establishment has
been serving a false god.
And it is not the American people.
And like it or not,
the next president will not be any different.
And of course, I'm one of the few,
but I'm not the only person who understands what's happening.
There are a few other people who know how desperate
America's financial condition is and how we're at the breaking point.
But their message, just like mine,
is not getting through to the people who really need it.
There's nobody else, I think, out there, besides me,
who is explaining in very simple terms for the average
American what they have to do with their money right now,
before this election, and before it's too late.
Because the fact of the matter is,
whether you are enriched or impoverished by this coming
monetary debacle all depends on what you do
right now, with the savings that you have left.
I'm not a money manager.
I can't force anybody who's watching this to actually take action.
But I know for certain that anyone who says, well,
maybe Porter's right, I'm going to wait and see,
is going to regret it forever because whether or not it's
Trump or Kamala, the destination is the same.
And the deadline is rushing towards us.
- OK, but here's the question.
So Trump and Kamala are chalk and cheese.
It would be pretty difficult to find two people who disagree
more about the future of America.
They're pretty much the polar opposites on every issue.
- Not really.
I'm not going to make a--
what is it, a uni-state argument here.
But they're different in degrees on policy.
And there is certainly one policy they're both united on.
And it's the one policy that they are never going to discuss
with the public, I promise.
It's their unconditional support for this secret policy.
And this is the support for the financial elites that is going
to open the floodgates to one of the greatest financial
disruptions in all of human history.
And again, it doesn't matter which one gets elected.
They're both serving the same ultimate masters.
And to understand why,
you've got to really get your head around how incredibly
corrupt our financial system has become.
We are $35 trillion in debt.
That is the biggest pile of debt in the entire history of humanity.
Whether it's Kamala or whether it's Trump,
that story is not going to change.
Under every administration for the last 50 years,
our national debt has grown unabated and unchecked.
And it is now absolutely growing
logarithmically, incredibly out of control.
It took us just over two centuries to amass a trillion
dollars of debt, Peter,
so 200 years to get to our first trillion.
We are now adding $1 trillion in debt every 100 days.
How long before that's a trillion every month or every week?
We are, every single day,
approaching the Weimar German hyperinflation period.
And there is no way to stop it.
- So everybody knows the national debt is gargantuan.
It shows no sign of slowing. It's ludicrous.
I totally agree. There's no way we can afford it.
But it's pretty much baked into the cake at this point, right?
- I really disagree.
And I think that's what makes it so dangerous.
We've been living with this for so long,
and they have done so much to protect the bond market in
terms of printing more and then doing things like,
when all the banks lost all the money on their Treasury bonds,
they just papered over that too.
So there has been so much corruption and so much
manipulation that everybody, like me,
who's been warning about this, has become "Chicken Littled."
They put a Band-Aid on it.
They held it together for another quarter, another year.
We're just praying that nobody notices that we're completely bankrupt.
And right now, there's not a single politician in America warning
their constituents, you are about to get wiped out.
But they should.
And I can tell you exactly how I know we're at the end.
We just hit the final breaking point that's going to split our
entire country in two, financially.
And these incredible financial problems are about out to
create two very different Americans, vastly,
vastly different, like, not even the same citizens anymore.
- OK, how so?
- You can see the breaking point right here, in this chart.
It may not look like it at first,
but when you understand what this chart means,
this is the most important and terrifying chart in the entire world.
You should print this out and put it on your workstation,
put it on your fridge, make sure your wife understands it.
It shows how our nominal GDP growth has increased less than
the increase in federal debt.
And when you add in private-sector debt, of course, it's much worse.
But I'm not even really talking about that.
Just look at the chart. The U.S.
economy has completely inverted,
with nominal GDP growing by roughly $7 trillion,
but the federal debt growing by $8 and 1/2 trillion.
- Then of course, the GDP growth that we have seen,
the alleged booming economy that Biden and Harris have delivered?
- Well, just look at your own life. Do you feel better off?
It's all smoke and mirrors because what they won't tell
you is that only $1 trillion or so of the growth they've seen
over the last four years is actually from labor force and
productivity growth.
All of the rest is directly from debt creation and inflation.
It's fake.
And when you exclude the impact of government spending,
you quickly realize the economy isn't booming at all.
It's barely breathing. And it's about to collapse.
And that explains why the average wage earner in America
has seen their income eviscerated in recent years,
even as nominal wages have risen.
The hardest part and the most frustrating part about this is,
instead of looking at the stock market,
I wish people would just think for a second about their actual lives.
Are they actually wealthier today than they were a decade ago?
Were they two decades ago?
The answer is no. Why not?
Because all of these gains that you see written about in The
Wall Street Journal, the higher stock prices,
the booming GDP,
all of this stuff is coming from an enormous amount of new
inflationary growth.
It's coming from printing more and more money and borrowing
more and more money and putting into the economy.
We have an entire mirage of an economy.
The reality is, no matter how much your wages go up in nominal amounts,
the average person is falling further and further behind.
And I know if you think about your own life, you'll agree.
Every time you go to the grocery store,
every time you have to pay for something that you really need,
like a college education, like health care, car insurance,
or god forbid, if you try to buy a house--
you can't.
And look, I know our monetary system is centered around debt and credit creation.
And economists like you can make a really good argument
that this would all be sustainable as long as it was
being used to fund productive investments.
And I agree. But it is not.
And the reason why it's not is because it's all being
controlled by elites through the government.
And the government is not investing for a return.
It's investing to pay off the people who keep them in power.
And that is really inefficient.
So my estimate, looking around,
is that every new dollar of public debt is probably only
generating about $0.50 of value.
And if you look at the numbers,
you come up with a very similar figure.
Today, every dollar of public debt is generating just $0.58
of GDP.
And that is really a huge problem.
By comparison, in the 1960s,
every time we spent a dollar of government debt,
the economy grew by $10.
As late as 2000, every time we spent $1 in government debt,
we got $4 in GDP growth.
Now we're getting negative results.
We're getting less than $1.
So while on paper,
the establishment can make it look like the economy is booming--
hey, we printed a bunch of money and we bought a bunch of guns and
planes and we fought some wars.
We gave some people free education that isn't worth anything.
In reality, all of this debt-fueled growth isn't producing any real GDP
growth, and therefore, it is not sustainable.
And that's why, despite all of the incredible
technological advances of the last 50 years.
That's despite America being the leading country in how many industries?
Tech, entertainment, aerospace.
That's despite the longest bull market in history.
That is why, despite all those things,
most people in America are actually
worse off.
Nobody feels richer because we're all, in fact, getting poorer.
- It's incredible.
It's why there's such a disconnect between what the
official numbers say and what your average person
experiences, right?
It's why almost half of Americans have less than $500 in the bank?
- Exactly.
- That's why someone who's getting paid 10 times what
their father earned still feels broke.
Bankruptcies, delinquencies,
debt of all kinds are going through the roof.
It's the great hollowing out of American life.
- It's the complete destruction of our country. And look.
Look at this inversion.
While it could be tolerable for the short term if economic
growth skyrocketed and we saw some kind of a big return on
all the deficit spending.
That is not what's going to happen.
As I've been warning my readers,
a major recession is coming.
And it's going to be far worse than anybody expects.
And the warning signs are flashing everywhere you look,
just exactly what you just said.
Consumers are tapped out. They're running on fumes.
Credit card charge-offs at U.S.
banks are up 3% a year,
to their highest level in 13 years.
According to the FDIC,
the percentage of debt unlikely to be collected has now more than doubled.
And of course, you know when that trend starts,
it's going to get way worse.
It's going to keep doubling like that.
The job market--
I'm sure people have seen,
if they're out there looking for work,
it's completely changed.
Unemployment is now rising.
And that's another key signal that a recession has actually begun.
All of these factors are going to make it a lot harder to
engineer a recovery from this big recession that is just beginning.
So not only is our fiscal reality bleak, but politically,
we are now less prepared than ever because we cannot reach
the kind of consensus that we would need to try to avoid this massive crisis.
The simple fact is, we can't afford, on any level,
a recession or a slowdown.
Our economy is like the bus in the movie Speed.
Remember, if the bus dripped below 50 miles an hour,
it would explode?
Well, that's like the position our economy is in right now.
If we don't keep pumping it full of credit and cash,
it's just going to completely collapse.
And that's why the next phase of this crisis is the
devastating phase.
And sadly, all this stuff is not only
predictable, it's actually inevitable.
- So how does this play out? What happens next?
- Well, the elites in Washington and at the Fed
fundamentally believe that they can control these forces forever.
They believe they can keep pulling the levers and they can
play around with the interest rates and they can eventually
make the market do what they want.
And by the way, that's been going on now for a long time.
So no matter who's in power,
they're going to plow more and more money into the system.
It's the only thing that they can do.
But remember, this was meant to be the year when the budget deficit would
gradually normalize.
Remember those promises?
And after years of crisis finance,
the government said it was going to end its drunken sailor spending ways.
- But you cannot stop an addict.
- That's exactly right.
And the moment it seemed like the economy might falter,
Biden blew up the deficit by another $686
billion.
That is more than double the month before's figure.
It's the only thing they knew how to do, Peter.
They're just going to pump more and more money into the system.
And they're going to inflate the all hell out of the dollar.
And that sets in motion a chain reaction that's going to prove
fatal to the US financial system.
- OK what do you mean by fatal?
- The coming money printing will be even more destructive than
most people can imagine.
If you look through history,
you will see this again and again and again.
And every time they go to print more,
it's always by a factor of 10.
So the first money printing, the QE number one was x.
QE number two was x times 10.
And then the COVID bailout was x times 10.
There will come a moment where they have to print so much
money to bail it out that no one wants it anymore.
And you've seen already,
our foreign creditors are no longer buying treasuries.
China's dumping treasuries.
That is an exit from our dollar.
You were right a moment ago when you said that everybody
knows America has huge debts.
And you're right, they have kept the party going,
by hook or crook, for a long time.
But what most people don't realize is that right now,
the interest payments on our federal debt have hit a
critical inflection point.
And they cannot go further.
If we zoom in here to the last few years in detail,
I can show you how urgent this problem is today.
We're now paying--
[LAUGHS]
This is hard to believe--
over a trillion dollars a year just on the interest of our debt.
Currently, our debt repayments are bigger than our defense budget.
Can you imagine?
The Pentagon, as you probably know,
is the largest consumer in the world.
We're now spending more than that just on bankers and interest.
So that's bigger than our expenditures on income
security, bigger than our federal expenses on health,
veterans benefits, Medicare.
And we're just a few months away now from interest being
the single biggest outlay of the federal government,
bigger even, than Social Security,
which is about $1 and 1/2 trillion each year.
So anyone who has studied any kind of financial history knows
this does not end well.
My favorite historian, Niall Ferguson, he's brilliant.
And he wrote about this exact same problem just a few weeks ago.
He said, quote, "any great power that spends more on debt service than
defense will not stay great for very long."
So you go back through history,
you look at the Habsburgs in Spain, bankrupt.
You look at the old regime in France, bankrupt,
Ottoman Empire, bankrupt, the British Empire, bankrupt--
by the way, bankrupted by Churchill.
But no one wants to talk about that.
- That's another one.
- Yeah.
- Now, Ferguson actually said--
he's now saying we could see a crisis as early as this year.
- You can't outrun this.
At this pace, we'll soon be paying more to service the federal debt than
the government collects in total, in taxes.
We are way over our head.
And there is only one way out.
- So you talked earlier.
Either we default on our debt,
which would wipe out millions of people--
it would certainly unleash a global financial meltdown.
That's option A.
- Yeah, and we know that's not going to happen.
A naked default would be like a nuclear bomb going off for the
whole world because the dollar is the basis of the world's
financial system.
It would be an unprecedented financial crisis like we've never seen.
And millions of Americans will be completely wiped out.
And our country would never be the same again because no one
would ever trust the government ever again.
- And so that brings us to option B,
continue printing more and more trillions,
running up ever-larger deficits,
systematically destroying not just the U.S.
dollar, the economy, the entire social fabric, our way of life.
That's the big problem.
The big problem is, the only way out is way more inflation.
And the consequences of that socially,
are what I'm most concerned about.
And as you know, I've been warning about this for years.
I said it was inevitable.
I just didn't know when it would happen.
But we're there now.
The collapse of the dollar is going to completely accelerate
in the next several months because
the level of the debt and the level of the interest payments,
we're at the point where, like GE,
we're going to start paying our interest payments by printing money.
At that point, there's not going to be any stopping the inflation.
Almost regardless of what interest rates are,
it's not going to make any difference.
So everybody listening, you have got to accept this.
It's hard to get your head around it.
But you are about to see your wealth and your savings destroyed.
- That's why you're.
Calling this a dividing-line moment,
that people are going to very quickly have to figure out how
to protect themselves as the dollar collapses,
inflation picks up again.
So what about people who don't? What happens to them?
- Absolutely nothing good.
People are about to see their wages decline by 50% in real
terms, their savings wiped out.
And their standard of living is going to be destroyed.
It's going to be just like it's been over the last 10 years,
but all at once.
As the phony money the Fed is going to have to pump into the
system explodes, it'll pay for far less of
life's essentials.
And you can forget about luxuries because in real terms,
America is going broke.
- So what can people watching today--
concretely, what can they do to avoid this kind of fate?
What should they be doing with their money right now?
- Now that we understand the lay of the land,
I want to show people how to actually use these forces
radically to transform their financial lives for the better.
Now, listen, it's not your fault that our government's broke.
It's not your fault that the Fed has been protecting the
financial elites for decades.
But once you know what to do,
it is your fault if you don't do it because if you don't get
your money out of the dollar and into assets that thrive
during inflation, you won't just lose 20% or 30% of your real wealth.
Over the next 10 years, you're going to lose all of it.
But--
and this is a very important but--
if you do own the right assets,
you've got a chance to grow your wealth massively in the years ahead.
Why?
Well, because everybody else is going to have to flood into those assets.
And it's already happening right now.
- So which assets are we talking about?
A lot of people talk about gold and Bitcoin.
- Of course, I am too.
Those are great ways of profiting from a huge inflation.
And I'm a fan of both assets.
So of course, it makes a lot of sense for every investor to allocate some
portion of their wealth into physical gold, absolutely.
And by the way, I believe in physical gold.
I'm not just talking about buying GLD.
I own physical gold. And I buy more every year.
And I've never sold a single ounce because while the dollar
has lost 90% of its purchasing power over the last 80 years,
gold has a 5,000 year history of maintaining its value very consistently.
So the case is becoming absolutely crystal clear that
you can use gold.
And of course, I believe Bitcoin can be used in a similar fashion to help
you opt out of the dollar system,
opt out of the banking system,
and retain direct control over your wealth.
People talk about the volatility of Bitcoin.
And it is absolutely wild. That's true.
But I'll take Bitcoin's volatile 15,000%
rise over the last decade rather than the dollar's
relentless decline.
Wouldn't you?
- And do you? Do you own them?
- Yes, I own both because gold and Bitcoin will help you protect
your capital as this situation worsens.
And it will do so in a couple of reasons.
One, because fundamentally, the dollar is going to lose value.
So those assets that don't lose value will get higher in nominal price.
But more importantly,
as everybody realizes that the banks are failing,
they're going to pile into Bitcoin and gold in a way we
haven't seen probably, since the 1970s.
And of course, it'll be even bigger this time.
But I think there's a much better option than either gold or Bitcoin.
And I will admit Bitcoin's outperformed everything for the
last two decades.
So this hasn't been the case in recent history.
But I believe it'll be the case, going forward.
I think that Bitcoin is going to have lower volatility and
lower upside as it becomes a mature asset.
So I think there's a better option.
This is obviously, my opinion.
And I probably won't convince anybody of this.
But I'm going to try.
So consider this.
You're familiar with Coca-Cola company?
- Oh, yeah.
- All right, so Coke's IPO was in 1919.
And it went out to the market at $40 a share.
Since 1919, the U.S.
dollar has been devalued by roughly 2% a year,
most notably in 1933, when the government seized all the gold
and massively devalued the dollar, and then, of course,
in 1971, where the government once again repudiated its
gold contracts and devalued the dollar massively.
Today, what it would have cost you for $1 in 1919--
if you were going to go buy something for $1 in 1919,
today, that would cost $17.
So that's a collapse of 95% of the dollar's purchasing power.
What if instead, though, instead of holding dollars,
what if you'd gotten your paycheck, cashed it,
and then went to the stock market and bought Coke stock?
Well, thanks to reinvesting the dividends and 11 different stock splits,
that initial purchase of Coke stock would now be more than
300,000 shares of Coke stock.
And that $40 investment in 1919 would now be worth more than
$10 million. That is a 500,000 times return.
And even when you adjust for all the inflation,
that's still a real return of 25,000 times.
In my belief, there is no other kind of investment that comes
close to growing your wealth as a
long-term investment and a high-quality common stock.
And that will remain true even during this crisis.
The right kinds of companies will outperform gold and will
outperform Bitcoin.
And that is exactly why,
in order to protect and grow your money in real terms,
especially as the government turns on the printing press in
an unprecedented way, you have got to own productive assets.
That is, you've got to own great businesses.
It is the only effective solution at your disposal for
most Americans.
- I completely agree with you.
You have to deploy the capital in something that produces.
It's not just protecting. It's thriving.
It's enriching yourself.
But of course, not any company will do.
- You're right. And that's where most people come unstuck.
They're frozen. They don't know what to buy.
And they're afraid.
And as a result, they're just going to get inflated away.
After all, everybody knows common stocks offer investors the highest
returns over time.
Except they don't, not on average.
And it's not even close.
The truth is, most stocks lose money.
And as a result, most investors lose money too.
But wait, Porter,
I thought you just said that common stocks are the best way
to protect my wealth?
They are, but only the right kind of stocks.
So look at this.
This is the Center for Research in Security Prices database.
It has all of the stocks that traded in the United States
since 1925.
In total, the database contains the trading history of 29,078 stocks.
The majority of those, Peter, 51%,
lost investors' money.
If you don't know this and you simply buy a stock at random,
you're more likely than not to lose all your money.
And right now, that's especially true and dangerous because most stocks
are incredibly expensive right now, by nearly every measure.
So with so much money flowing into stocks,
despite a deteriorating macro environment,
it's not surprising that the major indexes are in nosebleed
territory, in terms of the valuations.
In fact, a recent Bank of America analysis shows that the S&P 500
is well above its long-term historical averages in terms of
the valuations in 19 out of 20 key valuation metrics.
In other words, buying the wrong companies right now is a recipe for
disaster because there's really only one direction for them to go.
And that's down. Stocks are really expensive right now.
That's why at Porter and Company,
which is my private research firm,
we specialize in providing investment ideas and
recommendations that are well capitalized,
that are capital efficient, and that are undervalued.
And those are the three things you've got to have to protect
and grow your wealth in this environment.
These are investment ideas that have the potential to produce
very high returns on equity and invested capital,
and that have plenty of room for additional growth.
You must only own the best, the most enduring,
and the leading businesses.
These are the companies that have the ability to increase
their prices, to protect you from inflation,
and they're going to be able to compound your capital for
decades to come, companies like RLI Corporation.
No one's ever heard of this company, I know.
It's a little known property and casualty insurer.
I've been writing about it for almost a decade.
Since RLI started trading,
the dollar's real value has continued to decline year after year.
But look, the shares of RLI have increased by more than 20,000%
You probably have gotten an insurance bill recently.
And you've probably seen that insurance prices have gone
through the roof.
This is exactly the kind of company that can protect you from inflation.
Why? Well, because it can easily raise prices.
And listen, I don't want to confuse anybody.
I'm not telling you to go out and buy RLI right now.
I'm just saying, this is exactly the kind of business that you want to look for.
So there's a couple of stocks I want to talk about today.
And I'm even going to give you, for free,
my number-one highest conviction recommendation.
This is a company that I recommended to our members more
than two years ago.
And it's already up by more than 50%.
But Peter, it's still cheap.
And this is only the beginning of a multi-decade run.
You see, for a number of unique reasons,
this company is perfectly positioned to capitalize on the
looming debt crisis.
It's going to make more money in the crisis, not less.
And of course, it's going to continue to raise prices.
So it will benefit from the collapse in the dollar.
It has tremendous pricing power.
It can increase prices in line or above inflation without
increasing costs too much, and critically,
without losing the customers.
And you'll see why in a second.
And by the way, this company is mostly international.
It has a huge international market.
With the dollar collapsing,
this is a huge advantage to this company because it makes a
lot of money in foreign currencies.
And those foreign currencies are going to be worth more as
the dollar declines.
I'm talking about the tobacco giant.
I'm talking about Philip Morris.
Despite the negative PR around tobacco companies,
this has been one of the best businesses in the world for a
hundred years.
Not only does it own the legendary Marlboro brand internationally,
which is one of the world's most valuable brands, still,
it's worth $56 billion today.
Philip Morris made a huge pivot towards smoke-free tobacco
about a decade ago.
And that, of course,
is where all the growth in the company is today.
- Yeah, you're talking about smoke-free electronic
cigarettes, vaping, nicotine patches.
- Yep, it's a massive market.
And the new market is going to double over the next five years.
It's Philip Morris's most successful smoke-free product.
And it's the number-two nicotine brand in the world,
with nearly 18 million daily users,
18 million people every day.
It generates about 30% of Philip Morris's revenues.
And as the U.S.
plunges into a full-blown financial crisis,
Philip Morris is going to keep selling more and more and more
of that stuff every year.
If you don't have a job, you're going to use more nicotine,
I guarantee you.
So as a result, the industry is really recession resistant.
Nicotine is simply the last thing that people give up,
especially in a time of crisis.
And secondly, while Philip Morris is domiciled and headquartered in
the United States, again,
it gets the majority of its sales from international markets.
And that means it'll earn revenue in foreign currencies
before it converts those back into dollars,
which it will then distribute to U.S. investors.
So you're going to be getting valuable foreign currencies,
which are going to go up in value as the dollar declines.
Right now, the company is still paying a 4% dividend.
But that dividend is going to get increased every single year.
So as the dollar declines in value,
those dividends will be more and more valuable because most
of it will be coming from foreign currencies.
That is why I believe Philip Morris is the absolute perfect
hedge against the ongoing collapse of our currency.
And it's why it's one of my top recommendations to our
subscribers, and that people are adding Philip
Morris to their portfolio,
not only to just protect their wealth from inflation,
but to grow it a lot too.
Philip Morris is just one company we recommend, though.
And while it's a phenomenal vehicle to compound your money
in the face of this crisis,
there are a couple other ideas I want to share with you today.
These are companies that I believe have far greater upside
potential than Philip Morris in the near term,
and that I believe everybody needs to know about today.
Listen, as this crisis comes to a head,
the people who are prepared are going to do really well.
You're going to see your wealth soar.
But the people who are unprepared are going to suffer
unthinkable financial losses.
At our research firm,
I've been advising our readers how to prepare for what's coming.
And I'm going to share with you the exact same advice today.
- So I was looking at the portfolios you run at Porter
and Company before we sat down today.
And your team is producing first-rate output.
You produce outstanding results.
You've done it without investing in any nonsense
speculations, fads.
All the companies I see now are world-class businesses.
- Peter, listen, I'm just not interested in speculating.
I've played that game before.
But after 25 years of investing, actually,
30 years of being in the investment business,
and after working with hundreds of analysts and after
overseeing dozens of portfolios and how many different
recommendations and investments?
Hundreds.
I've come to realize, the single greatest way to build
real, lasting wealth is not a mystery.
And it's not risky.
All you have to do is buy shares in world-class,
capital-efficient businesses that for whatever reason,
are currently undervalued.
Buying these kinds of companies when they're trading at the
right price is exactly how you can generate market-beating
returns decade after decade.
These are the kind of investments that will keep you
or make you wealthy.
And it's not about taking big risks.
It's about doing the opposite.
It's about eliminating the risk that you face as an investor.
Right now, as a result of all the different economic forces that
we've discussed today,
there are a number of investments that I'm urging my
friends and family to make--
and this is very important--
before the polls close on November the
5.
- So we've talked about buying gold. We talked about Bitcoin.
We talked about Philip Morris.
So what else are you telling your subscribers they can do,
so they're on the right side of what's coming?
- It's clear that a recession is coming.
It's clear the consumer is broke.
It's clear that there's going to be some real chaos ahead.
And the vast majority of investors,
instead of taking care and being cautious,
they're getting greedier and greedier and greedier.
For anyone who is burying their head in the sand or doesn't see
this really big disconnect in the market,
they're all going to lose 50% or more in stocks because
they're going to be in the wrong stocks.
And they're not going to get out before there's a big crash.
And that's bad news because a stock crash and a huge
inflation is going to wipe a lot of people out.
The good news is, on the opposite end of the spectrum,
there are massive amounts of untapped opportunities and lots
of undervalued, high-quality,
but under-the-radar companies that are going to do fine.
Do you remember, Peter, back in the last big tech bubble,
the late '99, early 2000 bubble?
Do you remember how everyone was saying that value
investing no longer works?
And shares of Berkshire Hathaway were trading at
decade-low multiples while tech stocks had soared?
We are in exactly the same situation today.
There are great opportunities that are out there.
But for most investors, they're about to take some huge hits.
So for those of you who are willing to act now,
before the polls close, this is an incredible opportunity
to generate some real wealth over the next 12, 18,
36 months.
It's a great opportunity to position your portfolio in
companies that are set to thrive on inflation,
that do well during a recession,
and to protect yourself as this debt crisis rips America apart.
Everything I'm urging our viewers to do today has one thing in common.
They all benefit greatly from the weakening dollar,
from the debt crisis, and from money printing.
- So walk us through that.
- Take one of our top companies right now.
It's the perfect way to capitalize on gold's bull market.
And as the dollar continues to be decimated,
gold will continue to rise in value, as it has for decades.
In fact, gold just hit another new all-time high.
So in markets like this,
investors will typically rush out to buy gold miners because
of the extra leverage that they can deliver as gold prices rise.
And that's fine.
In the past, my partners and I have made a lot of money for our readers
with mining stocks like Wheaton Precious Metals, Alamos, and Royal Gold.
- One of your guys actually sent me a copy of this audit,
Porter.
It's an independently audited track record of the gold and
silver advisory you launched 22 years ago.
And the results are fantastic.
So since inception, the returns have averaged 19.9%
per year.
That is Warren Buffett-level returns for two decades.
And it's more than double the annualized return of the S&P.
- I am really proud of that advisory.
And my partner, who ran it, did an unbelievably great job.
But these days, I believe I found a better way.
You see, miners are speculative and highly cyclical.
And while you can make great returns,
you pay a high price for them with risk and volatility.
Instead, and as strange as this sounds,
I have found a gold company that gets paid to do nothing.
Unlike hyper capital-intensive miners,
who have to spend a fortune on geologists, mining equipment,
acreage, processing plants, storage, shipping,
all that stuff, this company doesn't do any of that.
Instead, it's insanely capital efficient.
It actually gets paid from the mining of gold.
But it doesn't spend a single cent on material costs,
on acreage, on machinery, or labor.
And it has crushed the S&P 500 by almost 100% since
2008, with far less volatility than mining stocks.
And I know this is going to continue for years and years to come.
- So when you first told me about this company,
I was skeptical. But there are some numbers I want to share.
So they only have, what? 40 full-time employees.
They have another five part-time contractors.
And with that tiny team, under 50 people,
they made $1.3 billion in revenue last year.
Their net income on that was about half of it,
so $650 million.
That's $14 million per employee.
That is pretty much unheard of.
- It is one of the best run and most capital efficient
businesses in the entire world.
There is nothing else like it.
Their free cash flow margins are almost twice that of
Microsoft.
- So everyone knows, Microsoft is priced in.
But most folks have never heard of this gold company.
- That's right.
I really don't a better way to protect and grow your wealth in
the face of ever-more inflation.
This is a company that absolutely every investor has
to have in their portfolio right now.
Not only has it outperformed the S&P 500 by almost double
over the last decade, but with gold continuing to rise,
this trend is almost certain to continue.
In this crisis, you're going to watch other people see their portfolios get hammered.
I think you'll see losses of 50% or more,
from top to bottom, in tech stocks, for example.
But you're not only going to be protected from that,
you're going to see your portfolio grow massively as
gold continues to rise.
- So your team has put all of the details of this company into a new report.
And that will give your viewers everything they need to know
about the company.
It's called the Ultimate Gold Stock.
Before we get into that,
what other opportunities are you urging for readers to take
advantage before the election?
How else can they protect themselves?
Can they stay on the right side of what's coming?
- Well, there's one sector in particular,
I really think people should focus on.
This sector holds an almost magical advantage against the
decline of the dollar and against D.C.'s insatiable
appetite to pump trillions of dollars more into the system.
You see, this sector has the unique ability to receive money today,
put that money to work in the markets to protect it from
inflation, and then pay it back, and its expenses,
only after the dollar has weakened.
I don't think there's a better business in the world to
protect yourself from inflation with.
In fact, no other business has the potential to provide you with
the same kind of extraordinary high returns for decades to come.
As Joel Greenblatt, who's one of the world's best investors, has explained,
this is the closest thing to a perpetual money motion machine
that you will ever see.
Let me give you an example of a company and the sector.
This share price has risen steadily for the last 40 years.
It's outperformed the S&P 500 by almost 10x
over that time.
To put that in context,
if you'd invested $10,000 into this company in 1983,
it now be worth almost $2 million and counting.
- So you've shared with me about a dozen or so of companies like
this, which have delivered similar results for decades,
and that you think are going to continue to do so.
- When you buy these businesses at the right time, Peter,
and if you hold them long enough to allow them to
compound capital for you,
I believe they are the very best investment vehicle on
Earth.
It's why when I launched The Big Secret on Wall Street,
I knew I wanted an entire section of our portfolio
dedicated to this industry alone.
- And the performance on that portfolio,
I've seen the numbers. They're solid.
You've got nearly every position already up by at least
double digits in a matter of months.
Some of them are approaching triple digits.
- Yeah, it's only going to continue.
These things really do get better and better with time.
In fact, I'd be willing to bet that over the next couple of years,
this section of my portfolio creates more wealth for my
subscribers than anything else we do.
And there's never been a better time to be involved in this
industry right now because as I explained earlier,
these obscure companies are receiving dollars today.
And then they're investing those dollars in the markets
for their own profit.
And then they don't have to pay it back for years,
maybe even decades later.
And by that point, the value will be gone.
The dollar will be inflated.
- So it's the ultimate hedge against inflation.
It's a way to not only escape inflation,
the devastation on your wealth,
but actually turn it to your advantage and grow your money.
Now, this portfolio that you've put together,
it's already has five of these operators,
all of which are already up by at least double digits and counting.
Is it too late for people?
- No, not even close.
These stocks are all still trading at very fair valuations.
So there's a lot of room to climb over the years.
And of course, as inflation ramps,
they're going to do better and better and better.
So we're always monitoring the sector.
It's something we focus on every day.
And we've got a list of targets that we're going to be
recommending when they come into our buy range.
So all you got to do is just follow along.
In fact, there are two new companies that we're about to add to our
portfolio from this industry in the coming, I don't know,
maybe 10 days or so,
each of which has the potential to produce crazy returns over the long run.
It's really hard to get people to understand this industry and
how much money you can make with it.
We wrote a really good report. It's 50 pages long.
It explains everything about just this industry.
And it's called "God's Investment."
And you might chuckle about the name.
But interestingly, this industry got started a long
time ago, back in the 1200s, with the Catholic Church.
So we call it that because that's where it started.
But we also call it that because once you really
understand this investment, it's so perfect,
it does seem like it was invented by God.
- "God's Investment." I love it.
And now, to be fair, for decades,
you've been on the right side of the major economic and financial moves.
And that lets readers protect themselves.
It helps them profit from these moves if they've got the risk appetite.
This is also true for a lot of the big political cycles.
So you and your partners have shown an ability to capitalize,
not just to protect yourself,
but to actually take advantage of some of the presidential cycles.
And when you first started,
Bill Clinton was in the Oval Office. That was some time ago.
He had just signed a little-known piece of
legislation that he called the Internet Tax Freedom Act,
that put a multi-year halt on taxes that discriminated
against e-commerce.
You believe that could be a powerful tailwind for the new
emerging class of internet stocks that mainstreamers were
still skeptical about.
- Yeah, that's right.
A lot of people thought the internet was just going to be a fad.
I remember a guy said,
it's just a fancy fax machine.
[LAUGHS]
- Yeah.
- But it was a little bit more than that.
In fact, I was very certain it was going to transform capitalism and our
entire economy forever.
And so we told people to buy a lot of those stocks long
before they bubbled up.
We were in Amazon early, Adobe, Qualcomm, Sun Microsystems,
Texas Instruments. We bought a lot of great businesses.
- And you and your partners also did the same during the Bush
years, with the biotech policies.
You wrote that a, quote, "revolution was coming."
You recommended companies like Illumina.
- Yeah, I mean,
Illumina was an unbelievable investment that one of our
analysts figured out was going to benefit from the tailwind
that Bush was putting into biotech.
- Yeah, that was like the NVIDIA of the day.
And then during Obama's time in office,
one of your partners named two companies to buy ahead of the
Obamacare rollout.
So one of them was Anthem--
is a health care insurer.
That was up more than 1,500%.
Then UnitedHealth Group. And that's up more than 1,800%.
So you guys did the same again with Trump.
One of your analysts predicted Trump's push to roll out 5G
cell phone networks across the country,
that that would send a number of cheap tech companies soaring.
- Yeah, and ahead of the 5G expansion,
my analysts recommended Broadcom,
also Automatic Data Processing, Intuit, and Salesforce,
which were all linked to that particular tech boom.
And all, of course, have done great since.
- So I know that a lot of what we've discussed today is that
your focus right now is on the larger,
the unseen forces that are reshaping America,
regardless of who wins in November.
But I'm sure people are also curious.
Who do you predict is actually going to win?
And with these political cycles,
how can people capitalize on that?
- Peter, I can't recall a time where I saw more of a
groundswell of people on one side of a presidential election.
I think Trump's going to win.
But it's
certainly a lot closer today than it was six months ago.
Six months ago, when Biden was in the race,
I would have said there's no way that Biden can beat anyone.
I mean, he--
completely out of it.
So obviously,
the Democrats have done a lot to make the race a lot more
competitive.
I still think that Trump is going to win.
But I think it's going to be a lot closer than most people
expect or that even I expected six months ago.
Regardless, what I do know for certain is that neither side is going to
accept, unfortunately, the results.
We've come so far from politicians gracefully--
what is it called when they concede?
No one even does that anymore.
Instead, everyone calls lawyers and urges their people to rally.
And it's terrible.
So whoever wins, you're going to see some very serious civil unrest.
You're going to see the media denying the results.
And that is going to trigger a whole lot of violence in the streets.
The aftermath of this election is certainly going to be a spark.
And I honestly hope not.
But I think it could easily be the powder keg
that really explodes the currency and the economy
because when our foreign creditors see America going to
war with each other, they're going to sell treasuries.
And the way that the Fed is going to try to control that, of course,
is by printing lots more money and buying treasuries.
That's just going to set in motion a complete crisis,
where we'll have no effective government.
We'll have violence in the streets.
We'll have the Treasury market collapsing.
You'll have money being printed like it's never been before.
And that's why, if you're going to protect
yourself, I really do urge you to do it before the election.
And that's why I'm telling all of my family and all my
friends, listen, don't try to speculate
right now on specific policies because the election's really close.
What matters is, you can know that after the election,
there's going to be a whole lot of chaos.
And you want to be in these kinds of businesses that thrive
in those environments.
And you want to be out of expensive tech stocks.
- And the continued devaluation of the dollar,
the ever-increasing national debt, the inflation.
- Right. Those forces are all inevitable.
The
riots around the election are just not going to help.
And listen, Peter,
there's one other factor that's inevitable too.
Regardless of who wins the election,
this particular company is going to do incredibly well
because it sits right in the center of a trend that is
bigger than either Kamala or Trump.
I'm talking about our absolutely insane energy demands.
Nobody wants to talk about this.
And the ESG warriors will not like it.
But what do you think is going to be powering all those data centers?
I'll give you a hint.
It's not going to be windmills. It's not going to be solar.
You have to have very consistent baseload power to
power these things.
And that means that coal.
Yes, coal is going to be a vital
part of our energy universe for the next several decades.
Anybody who doesn't believe we won't be using more coal for at
least the next 50 years does not know anything about
physics, economics, or the development arc of humanity.
Coal is responsible for 16% of the power in the United States
and 37% of electricity worldwide.
And we know of a 160-year-old coal business that is the
last one standing when it comes to high-quality coal miners in
the whole country.
In fact, Obama and Biden's war on coal has actually strengthened its
position in the market because it put all of his competitors out of business.
And now it has a much bigger share of the market.
It's doing incredible business internationally too.
This is something that most people don't understand.
Demand for coal is growing worldwide, not shrinking.
And this business is America's leading coal exporting company.
It exports hundreds of millions of dollars worth of coal to the
less-woke corners of the world.
And again, this company is going to be receiving foreign currency for
a lot of those coal shipments.
And that'll help us as the dollar declines.
And I know what you're thinking, Porter,
you said we wanted to be in capital-efficient companies.
How could a mining company be capital efficient?
Well, even though mining is inherently very expensive and wasteful,
this company's mines are the most efficient in the world.
And as a result, the company has
outrageous free cash flow.
It was able to buy up a bunch of mines for pennies on the
dollar when other companies went bankrupt.
So it doesn't have nearly as much capital investment as you would think.
And its cash flows are, I don't know,
close to $700 million this year and still growing.
So after 160 years in business, this is a great investment.
And it's the kind of thing, again, that right now,
no investor would even look at.
But when this recession starts, when this election crisis hits,
it's exactly the kind of business that people,
the elites, are going to run their money into,
to protect themselves from what's coming.
And of course, there's a huge X factor here,
which is that even if there's a recession,
domestic energy demands are going to explode because more
and more AI is going to be needed.
And AI is the absolute unstoppable trend that's going
to drive our economy for the next decade.
So you're going to see thousands
of new data centers being built.
You're going to see hundreds of them built every month next year.
And demand for energy is going to soar.
People are predicting that demand for energy in the United
States will grow by 160% by 2030.
I'm telling you, I'll go on the record of this,
it'll be 10 times more than that.
You have just no idea how much electrical demand is going to
soar through the rest of this decade.
It's going to be unprecedented.
Again, people are saying that AI alone is going to be 25% of the grid by 2030.
Go on record. It'll be at least half of the power in the grid.
It's the way technology works.
Nobody understands how much demand there's going to be for
AI because there hasn't been a killer app yet for AI.
But there will be. And it'll just absolutely explode.
So again, let's think about this.
Does growth in AI--
does growth for electricity depend on who wins in the White
House? Nope. Either way, that's going to happen.
Does that depend on whether or not there's a crisis after the election?
Nope. Either way, it's going to happen.
Does that make any difference in terms of the Fed printing a bunch of money?
No, because AI is going to be the way that companies use to cut
their costs, to better handle inflation.
And the result is going to be very unexpected outcome.
But the result is going to be more demand for coal than we've
ever seen before.
And sure, Trump is all in on fossil fuels.
But just wait until all of Kamala's friends in tech
realize that they're going to need coal to power all their
AI.
That's why I think this particular investment, which--
this is a great business.
It did $2 and 1/2 billion last year alone, in coal revenue--
is such a great bet.
And it's one of these awesome,
absolutely unexpected hidden stocks that's still super cheap.
Right now, it's shunned by Wall Street.
And most investment firms came and buy it because of the whole woke backlash. You
know. You've seen that.
- Yeah, it's discounted. And you can pick it up for a song.
- But here's what people don't realize.
It's absolutely crushed the S&P 500.
It's a great, profitable business. It's unloved.
It's unheard of. And it's seriously undervalued.
But in its field, it's the very, very best.
And it's capital efficient.
And that's an incredible combination.
You just don't get to see that very often.
So listen, I've barely scratched the surface here.
It's a great stock.
And it's another long-term investment that we know is
going to do so well for investors over the next three or four years.
So we wrote a whole report about it, just one company.
It's called The King of Coal.
And of course, in that report, the full investment analysis,
everything, every investor needs to know about one of
America's greatest energy businesses.
- All right, so let's pause for a moment.
So we've got a bunch of good reports here. And
you've covered a lot today.
I know that you've put a lot of these materials together for
people, kind of a suite of special reports and recommendations.
- Yeah, but let me just tell you bluntly,
if you expect to survive what's going to come in the aftermath
of this election, then you've got to read these reports.
And they're all written in plain English.
So you've got to understand them, you've got to read them,
and you've got to act on them right away because as this
crisis unfolds, there will literally be a financial chasm.
It's going to put America into two different camps.
You're either going to be enriched by the crisis or
you're going to get wiped out by it.
And it really does depend on what you do in the next few days.
And like I said earlier,
I can't force anybody to listen to my warnings.
I like to say, there's no such thing as teaching.
There's only learning.
So if you don't have an open mind,
if you're not willing to learn, this won't help you.
But whoever
wins the election, there is no stopping this financial storm.
So get ready because this financial devastation is going
to wipe out the folks who are unprepared.
And it's going to destroy a lifetime of savings for a lot of people.
But for the people who positioned themselves correctly,
who are willing to read and think and use my reports,
those folks are going to see some of the best investment
returns of their lives.
So at Porter & Co., what do we do?
Well, we work hard to position our members to ensure that they are
on the winning side of this coming financial apocalypse.
And I want to make sure that everybody watching today has
the opportunity to get on that right side before it's too late.
- Now, you mentioned you'll be offering everyone watching
today something you've never put on the table before,
a one-time-only opportunity to get access to some research.
- That's right, Peter.
And we're only doing this because with the election
coming up so fast,
we've got to make sure that as many people as possible have
the information they're going to need to survive.
You see, over the last 25 years,
I've only ever seen a handful of true make-or-break moments
like this for investors.
There's been a few of them,
just these incredible moments where, if you had acted,
you had the potential to produce real amounts of wealth.
And if you ignored it, man, you got wiped out,
like the top of the tech bubble,
or like when I told my readers that Fannie Mae and Freddie
Mac, the two largest mortgage bankers in the entire world,
were going to go to $0.
And we recommended shorting both those stocks right before they collapsed.
Or back in '07, I saw what was happening in the mortgages.
And I knew the stock market was going to crash.
So why did I recommend a stock? Well, I recommended Hershey's.
It was trading around $40.
It was trading for about 10 times earnings.
And I knew it was one of the most capital-efficient
businesses in the history of the stock market.
Nothing better to protect your wealth with during a crisis.
So I urged my readers to buy it.
And I called it my best no-risk opportunity ever.
And look, it's done 15% a year, every year since.
- Yeah, you wrote,
it could easily be the best investment you make in your entire life,
which is a pretty big claim for a chocolate company.
But it turned out correct.
- And I know for a lot of my subscribers,
because they've told me, it was.
The same story in the mid 2010s,
when my team and I spotted the cracks in the corporate debt market--
you remember there was that bond-market collapse in mid
2015?
Well, we urged our readers to get in and buy distressed bonds when,
get this, they were trading at about 10 percentage points over treasuries.
And the returns on these investments were amazing.
In fact, the folks who followed our advice could have earned
annualized returns of 37%
that year, while other investors lost their shirts in that market.
I'm sure you remember the COVID-19 pandemic.
I don't know that stocks have ever fallen further and faster
in that six-week period between--
what was it?
Maybe mid February and then mid March?
And then they just collapsed.
Well, I think it was March '23, March '24,
I went out on a video like this, and
I pounded the table.
I said, this is the best investment opportunity of my lifetime.
And I don't care how afraid you are,
you have to go out right now and buy the world's best businesses.
And that basket of stocks--
by the way, these are all-blue chip companies,
incredible businesses.
They've gone on to deliver average returns of more than
154%.
The point of all this is, if you're a good investor,
you use a crisis to your advantage.
And that's exactly what I want you to do right now because the
upcoming presidential election is going to be one of those moments.
It's do or die for your finances.
And of course, listen,
I can't promise you that the returns from the strategies I'm
suggesting are going to be as good as my previous work.
But I can promise that my team and I are completely
obsessed with delivering the world's
best financial research.
It's what we do day and night.
So when my wife says, every night, honey, come to bed.
Not quite yet. I've still got some work to do.
And we always give our subscribers the exact same
advice that we give our loved ones and that we take ourselves.
So the game plan we've put together today is exactly what
we're urging our friends, our family to do.
And it's exactly what we're going to be doing before
November 5.
We believe that owning these companies is the single best
way to not only protect your wealth from the chaos that's
coming, but to grow it too.
So listen, here's what we've discussed so far.
We've talked about Philip Morris.
We've mentioned that there is this incredible gold stock that
nobody understands, that's way better than gold.
We've talked about what I call "God's Investment,"
which is an entire industry that seems like it's built
specifically to profit from inflation.
And then, of course, I mentioned the King of Coal,
which I can't wait for you to read that report and see how
great this business is because nobody believes that a coal
business can be this good.
But it is an amazing business.
Meanwhile, the members of our flagship advisory,
The Big Secret on Wall Street,
have several other incredible opportunities that we--
I don't have time to get into this today.
But it's not just these stocks we're going to give you.
We're going to give you a whole portfolio.
And while Porter & Co.
has only been in business for two years,
the results we are delivering for our members have been
absolutely spectacular.
- I've actually met your team.
I've seen inside what you guys are doing.
It is really special, the quality of the analysis,
the pedigree, the experience of your team,
the obsession with serving your readers over decades,
and results that speak for themselves.
Just looking at some of the recent calls you made and the
subsequent returns,
what I love the most is that you're delivering these sorts
of returns without recommending high-risk
speculative garbage that you often see others promoting.
- Absolutely not. We're fanatical about one thing.
We only ever give our readers the same advice we would want
if our roles were reversed.
And while it means that we, as a business,
leave a lot of money on the table because we refuse to do
anything that would ever compromise that ideal,
the results for our members,
both in their peace of mind and in their financial returns,
are, I believe,
vastly superior to anything else in the industry.
- So I have some messages your members have shared that I want
to draw attention to because I think they speak to that vision.
So this one is Patrick S.
He says, "everyone in the world seems to have an angle,
but I love Porter & Co.
because I receive such in-depth analysis,
fact-based perspectives.
They allow me to make a highly-informed decision for
each investment. It
is literally bringing me peace and comfortable sleep every night."
You got another one. This is Eric S.
He wrote, quote, "For those of you that are new to Porter's research and work,
you're about to experience true brilliance.
I've been reading Porter's work since early 1999,
and remembering his recommendations of buying
Amazon back then, when it was $2 a share.
Like I said, Porter is one of the most brilliant people you'll ever
read in the financial world."
I got another one. This is Ed C.
He shared, quote "my wife's IRA account, which I manage, is up 105%
this year.
What can I say,
but thank you for teaching me about investing and for
providing me and all your readers a way to gain the
confidence to think for myself and manage my own portfolios?"
- Yeah, and hearing these stories--
and quite honestly, Peter,
I get dozens of emails like that every week.
And that is exactly why I continue to do this.
I did retire briefly in 2019.
But I miss it.
I feel like it's my duty to cut through the nonsense and to
tell people all the obvious things that they should know,
but no one else is willing to tell them.
And that's why we never pull any punches with our forecasts.
It's risky to stick your neck out there and say,
I think we're going to have a real problem after this
election because if it doesn't happen,
I'm going to look foolish.
But that's exactly what's going to happen.
And I don't want to sugarcoat it.
I want to tell you exactly what I would want you to tell me if
our roles were reversed.
Listen, we have a great business.
We've got great subscribers who support us.
We don't have to kowtow to investors.
We don't have anybody telling us what we can or cannot say.
I don't worry about being canceled.
I've been canceled about a half a dozen times already.
I'm not trying to be popular.
I don't want to appeal to the mainstream media.
I want to serve my customers and do what's best for them.
And that's why I've always kept Porter and Company completely independent.
I own the business.
I don't have any partners.
So I get to run it exactly the way I want.
And the result is that we get to give absolutely clear-eyed insights.
And we can focus only on the solutions and the opportunities
that our subscribers really need.
That's how we can stay one step ahead of events.
And I don't think you'll find anything else out there in the
market that's like our products.
- So we've got thousands of people watching today.
How can they get access to your research?
I know you've put together a special invitation.
Tell us a little bit more about it.
- Peter, it's really simple.
I want to invite everybody watching to join my flagship
financial advisory.
It's called The Big Secret on Wall Street.
And we're ready to offer you very special terms that we've
never offered before and we may never offer again.
Here's the deal.
Usually, an annual membership to The Big Secret on Wall Street is
$1,425.
That's what our more than 12,000 subscribers pay for
access to our research, our analysis, our recommendations,
our portfolios, and all the other membership perks.
But as part of today's special broadcast,
we've got a special offer that will give folks access for a
fraction of the cost that others have paid,
and will also unlock thousands of dollars worth of bonuses
that we have never offered before.
Because as I've been stressing today,
I think the 2024 election is going to mark the tipping point
for our entire financial system.
And that is something that's going to impact every investor in the world.
But for those who are prepared,
I think it's a great opportunity to grow your wealth as well.
So I want you to take action now, before it's too late,
so you can protect your wealth and help it grow in the months ahead.
- So as a member,
they're going to get everything we talked about so far.
They'll also get your model portfolio with every investment
recommendation you've issued,
along with a library of every back-issue special report
you've released over the past two years,
which includes some of the most exciting ideas I've seen.
Most importantly, every week,
your members get a brand new issue of The Big Secret on Wall
Street.
- Peter, that's just for starters, though.
You see, when I started Porter & Co.,
I wanted our firm to be very different than anything else
I'd seen in the industry before.
And what we've built here is more akin to a boutique
investment bank than anything else.
So yes, every Thursday at 4:00 PM,
you're going to get our latest issue, one issue a week.
And that'll include our model portfolio that has all the
different sections in it.
And of course, you're going to get all our special reports and briefings.
But listen, The Big Secret is about a lot more than the stuff that we've
just recently released.
The first really special benefit is our annual conference.
Every year, we host a private, close-knit conference here, at my farm.
And invitations to this meeting are coveted because as you
know, my network in finance is pretty much--
nothing else is like it.
And we get the highest-quality investors and speakers to come
and meet with us personally, here at the farm.
- Now, one of the companies you recommend exclusively to
conference attendees last year was the payment processor,
Adyen. Since then, it's up almost 90%.
- Yep. And our 2024 conference was just a few weeks ago.
So let me just say,
the quality of the speakers and the investment ideas that our
guests and our analysts shared,
it blew last year out of the water, frankly.
It's really, really good content.
So another thing that we do for all of our subscribers is
called The Spotlight.
So each month, I turn a spotlight onto an analyst who
is not a part of the Porter & Co.
staff, but instead, is someone outside our company,
whose work that we completely respect and think you should be aware of.
And these are all people who can make you a lot of money.
So you're not going to get just me and my staff.
You're also going to get another dozen analysts who are world class.
And these are people who I've known for decades,
and who I know can beat the market.
- So it's a way for people to profit from the same research you follow,
and research that other people have paid thousands of dollars for.
- Yeah, and I don't think there's anybody else in financial
research who could pull this off.
It's really my reputation and the relationships I've built
over many years that will allow people to share their work with our subscribers.
As you probably know, I'm the founder of MarketWise,
which is the world's largest financial research firm.
So I can pull strings that nobody else can.
And I've convinced the best financial thinkers, investors,
and economists to share their ideas with my audiences,
whether at my conference or in my subscriber file.
And as a member of The Big Secret on Wall Street,
you're going to get this perk every Tuesday.
It's all part of my quest to make the Big Secret on Wall
Street the absolute most valuable and lucrative research
advisory firm of all time.
And while I can't share everything we have planned for
our members in the future,
I can tell you that we're going to be adding an online-members
community, a high-yield portfolio, very exclusive,
for folks who want to maximize retirement income,
and most exciting of all,
a fully-managed equity portfolio.
This is where in real time,
you'll get to see exactly how I would manage my money,
inside The Big Secret on Wall Street,
the selections I'd make, the position sizing,
the risks to consider,
and how I translate my decades of experience into a real,
live portfolio.
- So let's get down to brass tacks.
You said that a membership to The Big Secret on Wall Street
usually costs $1,425,
but because you're on a mission to help as many people as
possible get on the right side of what's coming,
you're doing something you've never done before.
Let's hear it.
- Yeah, it's real simple.
As a part of this broadcast,
I'm going to give you a 30% discount.
Instead of paying close to $1,500 for a year's membership,
you're going to save more than $400,
and you're going to get everything we've talked about
here for just a thousand dollars for an entire year.
But that's not all.
I believe that 2024 election is a critical turning point for
our country and for your money, your retirement,
and even our way of life.
This is a situation that can make or break your financial future.
So I'm going to do something that I've never done before.
For the next couple of days only,
I'm also going to give anyone who joins The Big Secret on
Wall Street an incredible number of exclusive bonuses.
Before now, these were all bonuses that were only
available to what we call the partners in our business.
And partners are people we serve at the highest level.
And a partnership with our company today costs $10,000.
So this is our most exclusive content.
And I'm going to give it to you for free.
What am I going to give you?
Well, first, what I consider to be the best kept secret in all of finance.
It's the perfect example of what we've covered today.
This is a way for you to turn the destructive market forces
into your favor and allow you to see your wealth grow.
When I started Porter & Co.,
one of the first analysts I hired was the legendary Marty
Fridson.
- For people who don't know, Marty is,
according to the Museum of American Finance,
"a living legend." The New York Times said,
"he's one of Wall Street's most thoughtful,
perceptive analysts." In fact, for nine years in a row,
the Institutional Investor,
All-American Research Survey ranked him number one analyst in his category.
He spent three decades on Wall Street as a consultant for the president.
He spent three decades on Wall Street as a consultant for the
Federal Reserve.
He served as president of the Fixed Income Analysts Society.
He even launched a high-yield research team at multiple
major Wall Street banks.
- Yeah, Peter,
he's actually the dean of high yield on Wall Street.
He didn't just start a couple of teams.
He was the guy at Salomon Brothers in the late 1970s,
who started the very first high-yield research team.
And he did the same thing, moved on to Morgan Stanley,
and then moved on to Merrill Lynch.
So there is nobody in the history of Wall Street who has
ever had more experience in research at high yield.
And guess what? I hired him. He's now at Porter & Co.
And he is the head of our Distressed Debt team.
There is just no more trusted analyst in the whole world for
high yield than Marty Fridson.
And he's the guy who's working for our partners.
Now, you got to realize in the aftermath of this election and
in the crisis that follows,
what do you think we're going to see?
You're going to see an incredible wealth-building
opportunity in distressed bonds.
When this recession hits,
the amount of distressed bonds is going to soar.
The premiums and yield are going to be amazing.
And I want my partners to capitalize on it.
And by the way, I want my new readers to capitalize on it too.
And that's why I'm going to give--
we've never done this before.
I'm going to give all the new members of The Big Secret on
Wall Street two special reports from Marty's team.
The first one is called Learning to Love Bankruptcy.
It lays out Marty's distressed investing strategy in full detail.
And I understand,
most people watching this are never going to invest in a distressed bond.
I get that.
They're certainly not going to be poking around in bankruptcy.
It's a really difficult area to be an investor in.
But if you read this report and you
keep an open mind, Marty can show you one of the most
overlooked and most valuable wealth-building strategies that
Wall Street has ever invented.
And to help you profit from this approach,
along with the guidebook,
we're also going to give away Marty's latest distressed bond
recommendation.
This is a remarkable opportunity for you to
capitalize on a sector that's set to double over the next five years.
And again, that's all regardless of who wins the
White House.
This involves a trillion-dollar trend that both Trump and
Kamala are behind,
and a little-known company that dominates the supply
of a critical material at the heart of the trend.
So inside you'll discover how Marty is extracting a 9% annual
yield from this company while everyone else, by the way,
has to sell for a dividend of less than 2%.
And of course, that's not even to mention the appreciation that is going to come, as well.
That's just the income.
But everything you need to know is in this special report,
which is called The EV Master Key.
- So you're saying Marty's recommendations are usually
only for partners, and they've paid as much as $10,000.
So given his results,
it's pretty extraordinary that you're offering it for so little.
- Yeah, and if you look at Marty's track record,
I just want you to remember,
that performance is almost all from bonds.
Marty is not making 6% or 8% in bonds.
His average total returns are usually in excess of 20%
a year.
And there's nobody better in the field than Marty.
He actually wrote the book on investing in distressed bonds.
You may have never seen it before.
It's one of the biggest secrets on Wall Street.
Marty can teach you how to generate equity-like returns
with only taking the risk of a bond.
And when you take advantage of this special offer,
you're also going to get those special bonuses from Marty for free.
- So now, you've put a lot on the table here for people to become more
informed, more sophisticated, more
successful as investors.
So just running through it real quick,
so because your new subscribers will be getting a lot of value here,
we're looking at a one-year subscription to The Big Secret on Wall Street.
You've got three urgent reports that they can dive into right away.
You've got reports specifically designed to get subscribers on
the right side of these financial-crisis trends you've
talked about, that are about to divide America in two.
You've got The Ultimate Gold Stock, the King of Coal,
God's Investment Portfolio, my personal favorite,
each packed with high-conviction plays.
That subscription opens up unrestricted access to your
full model portfolio.
You've got over 30 companies where everyone can access the
full investment briefing.
Plus people get every past issue of The Big Secret on Wall
Street, every past investment briefing,
every strategy report,
the spotlight feature you just described,
and the forthcoming new feature,
which will allow you to closely follow your very own personal
investing approach,
including your own curated stock selections.
And those are coming from the Big Secret portfolio--
and then the two special reports from Marty Fridson,
Learning to Love Bankruptcies, The EV Master Key.
So people have paid as much as $10,000 to access Marty's work.
But new subscribers to The Big Secret are going to be getting
access absolutely free.
To join The Big Secret on Wall Street,
just click the button below,
follow the instructions on the next page, and that's what?
80 odd bucks a month for access to one of the premier research advisories,
not to mention thousands of dollars worth of bonuses.
- This is a deal we're only offering in the run up to this
election because I really want to prove that there is a way to
get ahead as everybody else suffers in this crisis.
And one final thing.
I believe in doing business in a very certain way.
Peter, you've seen me do business like this for years.
If you've ever been a subscriber to one of my products before, you
know that I'm deadly serious when I promise we will
always give you the information we most want to have if our
roles were reversed.
At Porter & Co.,
we always put our subscribers first in everything we do.
And we deliver great financial research.
We do so in a first-class way.
Among the many ways we demonstrate our sincere
goodwill is by always counting any purchase you've made with
us before towards the purchase of any
higher-level of membership with our firm.
So if you've spent any money with Porter & Co.
before now, those amounts might be eligible as credit towards your full
membership with The Big Secret on Wall Street.
Just call my offices.
And my guys will sort it all out for you.
Before we wrap up today,
I just want to say to everyone watching,
these are the moments that are going to define your life as an investor.
This election is coming up fast.
It's going to be extremely important in ways that most
Americans don't understand. But now you do.
I've shown you today that you have a big say in whether or
not you'll be enriched by what's about to unfold or you
could become impoverished by it.
The knowledge you have acquired in this special broadcast,
I believe, comes with a certain responsibility to take action.
You can't just ignore these problems because they aren't
going to go away.
And we can show you exactly what to do to protect yourself
and your loved ones.
We have prepared research that will put you, your money,
and your family on the right side of this coming crisis.
And we're giving you a massive 30% discount plus 30 days to
look everything over.
That's the kind of deal.
I would want if I were in your shoes.
All the details are on the next page for you,
including one final bonus I've set aside for everybody
watching today that is worth thousands of dollars,
but is yours for free.
In my opinion,
this is one of the most valuable assets we publish
here, at Porter & Co.
And while it's typically reserved only for a select
cohort of our members, I'm going to give it to you for free.
Simply click that button below and secure your discounted
membership to unlock everything we've been talking about.
This special deal will not be available for very long.
- Porter, it has been enlightening talking to you today.
It really has.
I think we've helped everyone at home understand some of the
deep problems, the heart of our financial system,
the urgent threat they now pose to the personal wealth of every
man and woman in this country.
If anyone watching right now is in two minds about what to do
next, I urge you to give Porter's work a try.
You'll have some of the greatest investors and best
financial minds in the world working hard to keep your money
growing even while the chaos unfolds around us all.
I hope you'll consider it.
OK. That is all from me.
Thank you for your time today, Porter.
And thank everyone at home for watching. See you next time.
[UPBEAT MUSIC] MUSIC]