(S14-E685)

Featured Guests

Prof. Burton Malkiel

& Bill Murphy

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Please Listen Here

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• Former NFL player Bill Murphy of GATA.org returns with commentary on the stunning advance in palladium.
• The former industrial metal has an inversion of the typical market dynamics, eclipsing the precious metals king.
• The host proposes a chief factor sending Palladium higher while gold and platinum remain relatively subdued.
• Unlike the former high fliers, palladium was not hoarded as a store of value, but instead consumed like silver by industries.
• The silver market could undergo an epic run to the three digit level in surprisingly fast order.
• For the first time in perhaps decades, central banks are now accumulating silver.
• President Putin directed the Moscow bank to fill the coffers with 72 pound silver bars.
• The new trend suggests the already inelastic market could soon stretch even more tightly for exceptional expected-returns.

• Dr. Burton Malkiel, returns to the show to discuss the 12th edition of A Random Walk Down Wall Street.
• For decades his magnum opus has guided millions of investors on the path to financial success through diversified index funds.
• While a small cadre of investors occasionally outperform the market return substantially it is rarely consistent.
• 90% of actively managed funds fail to meet the returns of basic index funds.
• Economics Nobel Laureate, Professor Paul Samuelson likened trading vs. investing as giving a potent potable to the addict.
• Our guest outlines research on financial market bubbles, such as the dot.com bubble, the Crash of 1929 and the Tulip Mania.
• Dr. Malkiel outlines key findings on ETF expense ratios, offering guidance on the best ETFs for optimal expected-returns.
• Dr. Malkiel prefers mutual fund investments over ETFs to avoid the hidden costs associated with the spread.
• The difference between the bid / ask, an expense levied on the ETF purchaser.
• Favorite ETF alternatives include Vanguard and Fidelity index funds.
• Dollar-cost-averaging (DCA) on a regular basis, i.e., adding funds to a portfolio of index funds is highly advisable.
• For example, the recent 20% decline in US equities offered significant discounts to investors who deployed the DCA investing methodology, essentially providing indirect market-timing success without forecasting or predictive modeling.