Rick Rule

• Agriculture
• Alternative energy
• Forestry
• Oil and gas
• Mining
• Water

INVESTING

• Rule is a highly skilled investor and speculator that is particularly active in private placement markets.
• He has focused on sub $1,000,000,000 market capitalization public and private issuers in natural resource industries. 
• He has originated and participated in hundreds of debt and equity transactions with private, pre-public, and public companies.
• In retirement, he only invests in debt and equity interests issued by publicly quoted natural resource or conventional financial services companies.

THOUGHTS ON GOLD AND PRECIOUS METAL BULL MARKETS

• Gold becomes popular when confidence in Fiat Currencies wanes.
• Gold tends to move really fast when it moves.
• Precious metal bull markets begin with gold; gold is the fear trade).
• The price for gold increases first, then later price for gold miners (once their income statements and balance sheets improve, thanks to the higher price of gold)
• The biggest, most liquid, most stable, and most experienced gold mining stocks move first (least risk and easiest for investors without mining expertise to get exposure).
• Later, interest moves downmarket to smaller gold miners that can be acquired.
• Finally, interest grows in smaller/risker development and exploration mining companies.

2020 NOTES ON GOLD MINING

• The exploration and development sector has been underfunded: expects larger mature minters will need to make acquisitions of junior companies to keep up production. Larger companies also have better balance sheets and cost of capital which make this natural
• At the previous peak, precious metals and miner assets were 7% of investable assets. Today they are just .5% (lots of room to grow). Mean was 1.5%.

• He thinks that Royalty Companies are the best part of the mining business. Since they don't use leverage, they don't perform as well as other types of gold businesses like miners.

CAREER AT SPROTT

• Rule led a highly skilled team of earth science and finance professionals who enjoy a global reputation for resource investment management.
• Today, he continues as a Sprott director and sub-adviser on several investment portfolios.

MEDIA AND OTHER APPEARANCES

• Rule is often interviewed on radio, television, print, and online media.
• He is regularly quoted by prominent natural resources-oriented newsletters and advisories.
• He has appeared as a guest on Real Vision multiple times
  

• He is a coveted investment conference speaker, having presented at hundreds of resource and investment conferences over the last 3 decades.