[applause] moderator: thank you. i didn't go too far. okay ... · bulls_vs_bears_where the...

BULLS_VS_BEARS_WHERE THE MARKETS ARE HEADING NEXT of 21 Moderator, Amber Mason, Dan Denning, Dave Forest, E.B. Tucker,

Jeff Clark, Jason Bodner, Teeka Tiwari, Nick Giambruno, Marco Wutzer

www.verbalink.com Page 1 of 21

[Applause] Moderator: Thank you. I didn't go too far. Okay, so we are down to the final

panel of the event. Just a couple of things while they're setting up here. We actually did have feedback forms and you should have them. You should have had them out there on your desk. If you will please, I'm sure that this is something that's always asked but because it's our first one, if you wouldn't mind actually filling it out or not, just totally ignoring me, if you could fill it out and you can leave it right there. You don't have to take it anywhere. We'll have someone come and pick it up. I did get some feedback in some notes. That's fine. You can leave it like that, but if you haven't given any of your feedback, please do it there. I think the first piece of feedback that I'm going to have is let's not do the feedback forms on two pages. Let's do it in one. I don't know what you guys think about that. The other thing is while the panel is setting up and they're coming on, we will have a cocktail reception. I'll explain a little bit more afterwards and after the panel, when they come up, that's when I'm gonna do that really final, hard close on all you people back there who have not, for whatever reason, joined Lifetime. Look, there's one final t-shirt. It's the last t-shirt standing. I just want to say that. Okay, so we've got the panel. Do they look ready? There's many names here. We've got Jeff Clark. We've got Teeka Tiwari, E.B. Tucker. We've got Dan Denning, Jason Bodner. It looks like Nick Giambruno, and Marco Wutzer, and Dave Forest, and all led here, the moderator will be our very own Amber Mason. Welcome them to the stage, please. [Applause]

Amber Mason: So we're blowing up the schedule a little bit. You can see we've got

more guys up here than we planned to. What happened this morning was I thought about they asked me to moderate this final panel instead of Chris Lowe. We were giving him a break because he's worked so hard. Chris has done an extraordinary job getting great information out of these guys. I'm really very impressed. [Applause] Plus he has that charming accent so he's just fun to listen to. So I was thinking about this final panel. We've been sitting in a




windowless room for two days quietly absorbing information and we have eaten for a few hours. The jet lag might be coming out. Maybe you guys went hard last night at the bar. I don't know. This is the slot where yesterday, we had bright lights, and loud music, and a sexy magician assistant. We were watching magic, and then I'm supposed to come up and do a panel about the bull market versus the bear market and it was too grim for me, plus I'm the second string moderator, so what I wanted to do was up the sexy factor a little bit from these guys, make sure you want home feeling like you got ten times your money's worth, so I'm gonna steal a page from my good friend, Rick Rule. Who here has been to Rick's conference in Vancouver, the Sprott conference in Vancouver? Rick's been there. It's a great show. I highly recommend it, and what he does at the end of at least one of the days is he gathers the smartest people he's got and he squeezes them for more investment recommendations, so that's what we're going to be doing here, actionable advice from our smartest gurus. So get a pen and paper out, get excited. You're going to be getting some good ideas. So yeah, the goal guys, and this is more stealing from Rick. We've heard a lot about the theory of fishing, and the philosophy of the ocean, and the state of the fishing industry. What we want now is some fish. So let's start with your best idea right now and we're going to check in at our conference next year to see how we've done. We've got a lot of guys to get through and not a whole lot of time, so keep it brief. If you've mentioned it already, it's okay to mention it again. Just let these people know your best recommendation today. Oh, that's no excuse.

Dan Denning: It is me, okay. Well, I'm not gonna weasel out of this but I will say

that at one of the breaks, I talked to a guy who's talking about people who invest for growth and people who already have a portfolio and they're trying to protect that, and that really is the primary mission at BBL is for people who already have money and to protect it and not lose it. But if it was for growth, look, I'll just say what I said at my breakout session yesterday. I'm looking at commercial real estate in small towns, that I visited Hendersonville, North Carolina and Bozeman, Montana, and the reason I didn't present all of my conclusions yesterday is I just finished my trip three days ago, but I did say to people in the room yesterday that if you gave me your business card, I would send you a complimentary copy of that report, so once that's done next




week, I'm happy to send it out, but I have to run all of the comments by the people that I talk to.

Amber Mason: So that's not something people in the audience can immediately

run up the price on their mobile phones. Let's see if Dave can give us some of that.

Dave Forest: Well, as I mentioned yesterday in my talk, Doug and I both believe

we're on the cusp of a major resurgence for commodities. We've been using the cost curves analysis to look at which commodities are the most depressed and thus have the most upside. Two that jump out to us in a big way are platinum and nickel. Fortunately, there's a company called Ivanhoe Mines that has both of those commodities, has a nickel and platinum mine that they're developing, one of the newest, most high-tech mines for both of those metals in the world. As an added bonus, they mine what's called sulfide nickel, which is the nickel that makers of electric vehicle batteries prefer, so it's the really, really good nickel, and as an extra bonus, they have one of the world's largest copper discoveries in the Democratic Republic of Congo where they keep finding more, and more, and more, and more copper. The company just got a huge cash injection from Citic, China's biggest investment fund, and it's run by Robert Friedland, who is probably the most successful mine developer on the planet right now, sells relatively cheap. It IPO'd at $4.00 a few years ago. You can buy it now at $2.50. It's a great buy, great people. The exact metal is where we want it to be. If they had uranium, that would be ideal. They don't, so we're still looking for picks in that space, but that is my one stock that I would buy in the commodities business right now.

Amber Mason: Ticker? Dave Forest: IVN, or in the US, IVPAF, Ivan Victor Papa Alpha Frank. E.B. Tucker: So I just gave a presentation about warrants and one of the

warrants I owned myself, Tidewater, is an offshore supply vessel company. It literally ripped my heart out to sell this thing. The problem is that Tidewater bought a company we own in the portfolio, so I by default have to let go of these things and I think that they're priced, they're very attractive. I sold them at $5.25 two weeks ago. They're trading in the low $4.00's now. The ticker symbol is TEWWSA. You can buy them on Fidelity, Etrade, any platform.




What you get for this $4.00 price is you get a warrant that gives you a right to buy a Tidewater share at $57.80 at any time in the next I think it's five more years. That's a long time in the oil business, and offshore oil thrives at $70.00 a barrel. It's a perfectly good price for the offshore business. The best case scenario is that oil just stays at $70.00 a barrel. It doesn't need to go to $100.00. It just needs to not go to $40.00, and then up to $80.00, and then back to $50.00, and bounce around. So I think if Tidewater stock does what I think it will do, then the warrant should be a huge winner, and you have limited downside and you have unlimited upside.

Amber Mason: Great. Jeff Clark: Okay, I have to give mine with one condition, though. I don't want

to hold it for a year 'cause I don't hold anything for a year, and so if we can do this let's say six months. The best recommendation for six months and if it beats everybody else's for a year, we'll go with that.

Amber Mason: Can we make an exception for Jeff? Yeah, okay. Jeff Clark: I truly do think this is a no-brainer. I think the next six months for

gold stocks are going to be rocket ship, so I would buy – don't go nuts and mortgage your house for this 'cause this is going to be a big swing, but if I'm right and it works, I'm a hero, and if I'm wrong, well, you've got these guys that have other ideas that'll do better, so a little bit less pressure. But I would simply buy the GDX, which is the market vector's gold stocks ETF, I would buy the April '20 call options on GDX, and they're probably, I don't know what they closed at today but I'm guessing, based on we've got six months' worth of time, probably 4.00 bucks. I would do that and I would look to be selling them sometime in March or April, and get out of them early, and then just go to the beach.

Amber Mason: Nice. JASON BODNER All right. I'm going to spend a little more time on TTD. I already

mentioned it a couple of times. What I didn't mention about the digital ad space that they're doing, they're actually functioning almost like a high frequency trading desk for advertising. They match advertisers and clients seeking advertising and they do it lightning fast, and their growth is just tremendous and I love the ad space. The one thing that I didn't mention, I think the company is like $5.2 billion valuation right now, really kinda small, especially in that space.




When you consider the market cap of Facebook, they could write a check to buy out any potential competition without even thinking about it, so the prospects are great for the environment that they're in. Digital ads are just still proliferating. Obviously I think legacies of where there's trouble with Facebook advertising and things like that, these guys are really changing the space, changing what they're doing. I love the growth prospects and I think it will definitely be higher within a year and I also love that there's big volume buying that's kind of going undetected other than what I see, so I really like TTD.

Amber Mason: Great. Teeka, do you have a crypto for us? Teeka Tiwari: My No. 1 no-brainer pick that will crush everybody's pick over the

next 12 months, is bitcoin, and I will tell you why. Of course, most people know there's only ever going to be 21 million bitcoins. There's about 17 million or so that have been mined, and of those 17 million, about 5 or 6 million of those have been lost forever, meaning people lost their private keys and they can't get access to those bitcoin, so the actual float of bitcoin is around 10 million, 11 million bitcoins. As I showed you yesterday, over the next six months, you are going to see the market, the addressable market for crypto currency go from 35 million approaching 500 million people that can come into this market. The reason why I'm picking bitcoin is because if you look at what each one of these different brokerage firms are building, they're all building bitcoin products, every single one of them. Citigroup building a bitcoin product. Morgan Stanley building a bitcoin product. TD Ameritrade, Fidelity, they're all starting with bitcoin. Bitcoin is the gateway drug for crypto. If you believe, as I do, that we are on the cusp of crypto currency going mainstream, then of all the coins that are out there, the most amount of buying is going to occur in bitcoin. It's the lowest risk, highest reward play in cryptocurrency right now, in my opinion.

Amber Mason: Great. Nick Giambruno: I mentioned in my presentation earlier that the federal legalization

of hemp is imminent. It should happen in the next few weeks. It might be a little delayed but it is going to happen soon. So I want to give you a stock that is going to directly benefit from this development, and with hemp, there's thousands of uses of hemp, but one use in particular is quite popular and growing in popularity, because in the cannabis plant, there's over 100 different




chemical compounds called cannabinoids, and we only really know about two of those, about THC, which is the one that gets people high, but then there's 99 other ones, and the other one that we know about is called cannabidiol. It's CBD. It's non-intoxicating. It has quite a lot of medicinal benefits. It's the active ingredient in the cannabis drug that the FDA just approved to treat seizures, but you've probably seen CBD oil or CBD all sorts of products in various health stores already, and that's because you can get it from hemp, but just this hemp is foreign hemp and it still is in a legal gray area, but when hemp is legal federally, you'll be able to buy this stuff in Wal-Mart, in Target, on Amazon. It's going to open the floodgates to it. Okay, so who is the No. 1 brand in CBD oil? And that's Charlotte's Web Holdings. The ticker on that one, first you have to note it trades on the Canadian Stock Exchange. This is not the TSX or the TSX Venture Exchange or the US Exchange. This is a special exchange in Canada called the Canadian Securities Exchange, and the ticker is CWEB. Now they are also looking to list over the counter in the US soon, so you can take a look at that in case you can't access the Canadian exchange. That will be coming very soon. Anyways, I don't have time to get into their story but you can certainly Google it. They are by far the most trusted and well-known CBD name namely because of this incredible story of how they helped this young girl with a severe form of epilepsy have another shot at life, and her story was featured on CNN, oh, geez, I think four years ago or so. Anyway, they are the most nationally known and trusted CBD brand and it's the brand everyone wants to buy and they're going to be the ones on the shelves of Wal-Mart, Target, and in Amazon once hemp is legalized. It will open the doors to that and that is my pick.

Amber Mason: Can Fidelity or TD America access that stock? Nick Giambruno: They should be able to. You might have to call them up and do it

over the phone, but if not, you might want to wait a few weeks and they should have a US over the counter ticker available.

Amber Mason: Great. Oh, sorry. CWBHF? Nick Giambruno: Yes, that's correct. They were going through the process of getting

it. It appears that it has gone through.




Amber Mason: CWBHF, and that's the over the counter listing for Charlotte's Web.

Nick Giambruno: Charlotte's Web Holdings, yes. Marco Wutzer: All right, it's a little bit of a tough choice for me because I have a

very strong conviction in all my ideas that are in the portfolio right now and all my ideas are rated a strong buy at the moment, but I'm going with Loom Network. Ticker symbol is LOOM and you can buy that one on Bittrex, and I talked very briefly earlier about the slow speed and the limited capacity of current block chains, and right now, one of the most important ones that you all know is Ethereum, and Loom Network is helping Ethereum scale, and Ethereum is working on its own solutions, but the solution that Loom Network has is already live. It's already in production, and their team is just amazing. They're an execution machine. They're making fast progress and one thing that I also really like about it is we talked earlier briefly also about the big catalysts and one thing that they focus on is the gaming market, which is a multimillion-dollar market, and this is one additional avenue to bring millions of people into crypto and do it in a really smooth way because when they own things in games right now, like first person shooter or something, you have a special gun. If you buy that gun, all that money goes to the gaming company and there's big gaming companies who make a lot of money, and all of this can be done seamlessly in the block chains so the games look exactly the same but now the gun is not owned by the gaming company but it's actually a token on the Ethereum network, on the Loom Network that links to the Ethereum network. So this opens up a whole new avenue of adoption for cryptos and based on their track record on really good execution and everything they've, done, I think it has even more explosive upside than bitcoin or Ethereum itself, so that would definitely be my No. 1 pick right now.

Amber Mason: Great. So I want to change the angle a little bit. We've got seven

one-year recommendations and one half-year recommendation. I sent you guys some notes about the questions I might ask and two of them were if you had 10X, $5,000.00 that you never needed to see again, so either I never see it again or I get ten times my money over the next couple of years, where should I put that money, and if I had a million dollars and I wanted it to hold its purchasing power until I died, where would I put it? So you can choose to




answer both or either of those questions, and we're gonna come back here to Dan.

Dan Denning: The second half, I would just go TIPS, inflation-adjusted bonds. Amber Mason: Okay, so that's holding purchasing power until you die. Okay,

TIPS. Dave Forest: I think for a 10X gain, I love EB's strategy about warrants, I think

the listed warrants. I focus on Canada on the resource-focused ones, but that, there's those kind of products on a number of different stocks. There are warrants that trade on a company called Northern Dynasty, which owns one of the largest copper and gold discoveries in recent memory in Alaska. A project that's been plagued by a lot of local opposition but which looks like it may get a go ahead in November with the election of a potentially pro-mining governor, pro governor who's in support of that project, so the warrants on Northern Dynasty are in the money but selling relatively cheap at about 30 cents. If that project gets a go ahead in November, that large project, those, I see potential for a 10X gain in those warrants. The warrants you would have to be in Canada. The ticker symbol on the company is NDM, November Delta Mother, and then there's two series of warrants. There's an A series and a B series, so in Canada, the ticker symbol for those is NDM.WT.A and .B, and I don't believe you can buy them on the US exchanges, so that's one you would have to go through a broker who can do Canadian stocks, such as Mr. Rule over there.

Amber Mason: Would you want to buy the A's or the B's? Dave Forest: They're both good. Both are in the money. The B's have a slightly

longer. The A's are good till 2020. The B's are good till 2021. They're trading around the same price, so I kind of buy whichever one is cheaper, but if you can get the longer dated B ones, obviously you've got another year to realize the upside.

November Delta Mother, NDM.WT.A, so it's N-D-M-period-W-T-

period-A and period-B. Amber Mason: Great. E.B. Tucker: I'll take the million dollars for life question. This is a very easy

one. I would take the million dollars and I would buy an eight-plex, and eight apartment complex, or two fours, whatever. That




gives me $125,000.00 per unit. I'd buy that cash. I'd look for call it a seven, eight percent return on my cash, which I think is completely doable, and I feel so certain that at the end of my life, if that were unfortunately in a few years or several decades, that I would maintain my purchasing power. Because as a landlord that bought property after the crisis, there's something amazing about putting a roof over people's heads. Google can't, Facebook, these guys, they can't automate and change this. Maybe one day, but I don't think it's possible. It's the most basic thing that people need and if you're renting someone an apartment in a cool neighborhood, forget about it. The building falls into disrepair someday, scrape it, put a new one up.

Amber Mason: Great. Jeff Clark: All right, I won't do the death thing. Amber Mason: Too hard to think about. Jeff Clark: The first one was 10X my money on a $5,000.00 investment that I

don't care if I blow it, and what's the timeframe? Amber Mason: A couple of years. Jeff Clark: We're gonna go six months. Amber Mason: Six months? Why not three? By Christmas. Jeff Clark: You're gonna like this. Get your pencils ready. Every year, and I

do this every October and it's about time to do it again, I decide what I think is going to be the turnaround stock for the next year, and those of you who read my stuff know last year it was Teva Pharmaceuticals, which we got buried on because I bought it early, but it was trading around 11.00 bucks a share in September last year, I think, and I couldn't explain it. It seemed cheap to me. The stock was trading four times earnings, paid a decent dividend. It was paying down debt. They had new management and the bonds, which would tell us if there was a problem, were trading roughly for about par. And I said I can't explain those stocks at 11.00 bucks a share but I think it's the turnaround trade for 2018. Of course, now it's at $21.00 or $22.00, so that looks pretty good, but it was $25.00 back in April, which is why I say six months. So today, same sort of a situation as the stock we have in our current portfolio and we're getting buried on because I was early




on this one, again. Newell Brands trades I think it closed today at $17.00. It is a little bit more than four times earnings. It pays a little bit more than a five percent dividend. The company is paying down debt. They sold off some money-losing businesses and used that money to pay down debt. The bonds are trading at par or a slight premium to par, so bond holders don't seem to have any concerns at all. Carl Icahn owns a ten percent stake. All of the managing officers and directors of the company have bought stock recently at prices $20.00 and above. I can't explain why it's trading at $17.00 a share. I think it's a no-brainer at this point. So if I had $5,000.00 to make 10X my money, the only way you're going to do that is in the option market 'cause Newell is not going to be $170.00 stock, so $5,000.00, I would go and I would buy – I don't know what they're priced at, but I'm gonna guess you would get a reasonable price for the April 20 call options, so that's NWL is the symbol for the stock. I would buy the April 20 call options and then I would close my eyes and not look at again until about mid-March and go from – oh, no. I would do even better than that. I would buy the April 20 call options but pay for that. Keep your $5,000.00.

Amber Mason: For zero dollars. Jeff Clark: Sell. I'm guessing what the prices are. Sell the April 15 uncovered

puts, collect that premium, use that premium to buy the April 20 call options.

Amber Mason: Nice. So we are talking about $5,000.00. You should invest

whatever you're comfortable enough losing. That's the whole idea. Jeff Clark: Oh, I got one more. I'm surprised it didn't come up on the earlier

question, but if you've got – I don't know. I don't even know what it is, but if you're looking to make 10X your money, than buy the Legacy Infinity Lifetime subscription.

Amber Mason: Hey, yeah.

[Applause]

Jeff Clark: That is what we call begging for applause. Audience: Is there a secondary market on that? Audience: What is the name of the stock?




Jeff Clark: Newell Brands. It's NWL, Nancy Whisky Lima. Amber Mason: All right, so a million dollars, or $5,000.00, or whatever you're

comfortable with? Jason Bodner: I could do both. The first one I can answer in a couple of ways. I

mentioned I liked the Trade Desk, TTD. I agree with Jeff, 10X your money, go to the options market. We would either buy upside calls and I don't have the price matrix in front of me. I didn't get a chance to look at it before the panel, but I would probably be looking at a six-month or even a one-year call, if that's the timeframe, and I agree with Jeff that I would rather keep the $5,000.00 and finance it with a sale of puts, 'cause theoretically speaking, you can leverage up, however that is a much higher-risk strategy, so if we're just going to do $5,000.00, 5,000.00 bucks of upside calls. The nice thing about the Trade Desk is it's come in from highs with pressure of the overall market. I believe it's got a lot of room to run, so it's almost picking it up on sale after it had that major leg repricing higher. To dabble into two more groups, the Chinese tech stocks that make almost 100 percent of their money in China are getting absolutely punished right now, so there's actually interesting value in those, like a previous winner like Weibo, WB, is a previous winner. I think it's in 55 percent from its 52-week highs. That's another one to look at some long-dated calls, or even just going into the tech sector, XLK calls, spending 5,000.00 bucks worth of premium. I don't have specific strikes or maturities because I like to look at that stuff before I throw that out there. As far as a million dollars in purchasing power, I'm going to evoke Mr. Warren Buffet, and again, be bullish. If you look at 100-year chart of US equities, it goes one direction and it goes straight up, and if he were sitting here and someone asked him that question, he'd be like, "Well, I'd buy US stocks. There's no better place to put your money." And the truth is, assuming I'm answering it for my lifetime, I hopefully have decades left. I don't think you would beat stocks. That's my personal opinion, so putting even a million dollars in something as boring as an index tracking fund like S&P 500 tracking ETF, like the SPY or getting more aggressive if you believe in tech like Hughes, but I still believe US equities as a whole, like SPDR, is a great place to keep the purchasing power of




your money because I don't subscribe to the view that civilization as we know it is going to end and it's going to tank the stock market.

Teeka Tiwari: Amen, brother. Amber Mason: So for the bulls versus bears, you can see where the bulls are right

here. Audience: Is there any other bear? Amber Mason: Who's bears? Jeff Clark: After April. Jason Bodner: After your six months. Amber Mason: All right, Teeka, 5K or million? Teeka Tiwari: I'll answer both. I'll answer the million dollar question first. It's

really the exact answer that Mr. Bodner said. I'd put a million dollars in S&P index fund, SPY, and leave it alone. It will definitely keep up with inflation. You'll probably outperform 85 percent plus of most professional money managers. Yeah, you'll have every seven years, you'll get the hell scared out of you, but it will come back. So to me, that's a no-brainer. In terms of a 10X over the next two years, there's a project that I like a lot. I like everything that I've recommended, but this one project in particular that has been really getting tremendous traction among institutional players in terms of new institutional use cases have been merging for this particular coin, and I think if we were in the heady days of 2017, this coin probably would have 10X'd already given the enormous changes that have taken place within the coin over the last year and that's Stellar, the coin Stellar. The Stellar network has just transformed itself dramatically. This partnership they have now with IBM is taking Stellar and putting Stellar into the hands of just about every IBM client. I think at some point, we will see a central bank issue a digital fiat currency and it will probably be issued on the Stellar network. You've now got a stable coin where you can actually view the money backing it by an FDIC bank that IBM has supported and it trades on the Stellar network. It's absolutely huge. The fees on the Stellar network are incredibly low. They still got a lot of work to




do to get where I think they can go, but over the next two years, I think the value creation on Stella is going to be huge.

Amber Mason: Great, Nick? Oh, sorry, symbol? Teeka Tiwari: Well, it's a digital currency, so it's XLM, but it's spelled S-T-E-L-

L-A-R. You can buy it on Binance. You can buy it on Bittrex, Poloniex, most of the major exchanges list it.

Nick Giambruno: Okay, I'll answer both, but to clarify real quick, the million dollar

question, this is over a lifetime where we want to preserve, it that the question?

Amber Mason: Until death, yes. Nick Giambruno: Oh, until death. Okay, well, I think that's quite easy. What else has

a thousand year track record of preserving purchasing power than physical gold? It's maybe not a revelation to a lot of people here.

Amber Mason: Somebody had to say it. I was waiting for it to come up. Nick Giambruno: This is not ground breaking I think to this crowd, but I think to

accomplish that objective. I'm not talking about gains. I'm just keep what you got physical gold in your possession, not no third counter party. Find a way to do it and you can do it. So then the 10X. I have to go back to the cannabis market. I am very bullish on this, because as I mentioned, I think we're in the process this is a multiyear megatrend and we're just at the very, very beginning of it. So another stock, and one that I think has the potential to go 10X, is Auxly Cannabis, and the ticker for that one is CBWTF. Auxly is a like a cannabis streaming company and a cannabis hedge fund rolled into one because it's like the streaming companies in mining but unlike the streaming companies in mining, Auxly not only gets a stream but they get equity in the companies that they're financing, so really it allows you to get access to the top cannabis companies in Canada. Many of them are private and it's the only way to get for the retail investors is to get it through Auxly, and also with Auxly, the guy who's in charge of Auxly was pivotal to the success of Canopy Growth, which is the largest cannabis company in the world, so I think he'll at least be as successful with Auxly, so that's that. And then one thing, too. I've got a bonus one for the 10X. This is




largely academic for most people, though, but I think if you can short Italian government bonds with leverage, which is out of reach for the retail. You need to be a hedge fund or a big bank to do that, but I think that's a no-brainer, and if you know something is gonna go down, well, you can leverage that up and you can get a 10X return on that, for sure, I think.

Amber Mason: Great. Last one. Marco Wutzer: So a 10X return in the crypto market where we are at right now

towards the tail end of a bear market is almost like a _____. That's an easy one. The project I'm going to talk about now, I'd be surprised if it weren't doing at least twice as much over the next two years, and I talked earlier a little bit about decentralized exchanges. That's the future of where exchanges are going and there's one company called Blocknet. The ticker symbol is BLOCK, B-L-O-C-K. It trades on Bittrex, I think. This is one of the oldest projects in the decentralized exchange space. It's by far the most developed. Even I am surprised how much it has come down. This is an absolute no-brainer for me for 10X. But wait, there's more, because Blocknet also pays a 13 percent dividend, so it really only has to go up less than eight times sometime in the near future for you to make 100 percent of your money every single year in that project, and if it goes up even more than that, so not only can you make 10X or even more return on your capital in that one but it also has a really, really sweet dividend that makes it easier to wait for that.

Amber Mason: Great. So we're going to progress to the speed round. I'm gonna

need volunteers for these answers. One that I didn't get to send you ahead of time I got from a subscriber. He wanted to know some ideas for asset allocation if he wanted to live off of his income. Anyone want to jump on that one?

Teeka Tiwari: Yeah, I'll take a shot at that. I would say the person that has most

impacted my ideas about wealth is Mark Ford. I don't know if Mark's here.

Amber Mason: Who else has had their lives changed by Mark Ford? Teeka Tiwari: My professional life, it was always boom and bust, and I would

confuse making an enormous amount of money with wealth, so I'd make a few million dollars, I'd lose a few million dollars, I'd make a few million dollars, I'd lose a few million dollars. It was just this constant yo-yoing effect, and then I started getting smarter about




what to do with my money. But it wasn't until I met Mark about five years ago and really understood how Mark has built his wealth, and so Mark has built his wealth by focusing –

Amber Mason: Sorry, Teeka. We did say speed round. Teeka Tiwari: Listen, this is really important, so I've gotta share it, so sorry if I'm

gonna go a little long. Amber Mason: Again. I need Chris up here. Teeka Tiwari: But Mark has not built his wealth by mining stocks, or massive

speculation, or stuff like that. He's built his wealth by having businesses and then not blowing up, so he's focused a lot on income investment. So in terms of to answer your question, I think real estate portfolio. If you don't want to invest in real estate yourself, there are private placement deals if you're an accredited investor. You can invest, get anywhere from eight to ten percent a year, and have a professional manage it for you. You can go and buy your own real estate like E.B. has talked about. You can sell puts, which is another way to create income. So yeah, I think there's a lot of different ways to create income that you can live off. My favorites are real estate, either owning it directly, investing with other people that can go buy big buildings, and selling puts. I sell puts and I can make one to two percent a month selling puts.

Amber Mason: Would you put 100 percent of a portfolio into those two ideas or

would you reserve some for gold and the crypto currencies? Teeka Tiwari: Yeah, well, crypto currencies are speculation. Again, I say five to

ten percent of your liquid net worth for crypto currency. For myself, I would say I would probably have not including the money I have in crypto, but I would say 60 percent of my capital is probably in real estate and I would say another 30 percent is in income-producing stocks, which is selling puts and stocks that pay big dividends. Outside of my crypto, most of my investments are income oriented and they throw off enough income where I would never have to work again, so yes. The proof is in the pudding. It works.

Amber Mason: So I'd like to hear from a couple of you guys. We were here in the

conference listening to each other talk and I was wondering if you could talk about something that you learned here at the conference that was important that you're afraid maybe the audience missed or won't remember. Was there something you heard that really made an impact on you?




Jason Bodner: Last night, I had the occasion to talk to Jeff Brown, who's an

awesome guy, if you have the chance, and I was saying, "Oh, I think I'm gonna get up there as one of the only bulls and I'm kind of nervous and all that stuff," and he and I started talking and I was really fascinated with his whole 5G presentation and how it can trickle out to various areas and not just technology but companies that rely on technology and proliferate out to people. One thing that he told me that he did not say to all of you is he's a big bull. He believes equities, we have a massive run ahead of us, maybe six years. I was throwing out reasons like record-low tax reform that hasn't worked its way through balance sheets and record cash repatriation. We're going to have a trillion dollars of buybacks of US stocks this year. There's prosperity. There's record sales in earnings growth. There's all these great things. It's a great time to be bullish on equities. I learned that from him that clearly was not made public. Maybe he didn't want it to be.

Amber Mason: Marco next, and then Dan, you can rebut. Dan Denning: I say this with all due respect, but I don't know how we managed to

get in some kind of time travel machine and go to Colorado, but everyone is high in Colorado and everyone is kind of high here as well. I don't know if there was Kool-Aid outside before we came in, but it does feel to be very much like everyone has drunk the Kool-Aid. The anniversary of the Jim Jones massacre was last week, and I guess with seriousness, it's crazy. I mean to me, it sounds crazy. I've been through two of these peaks and –

Amber Mason: We're not doing this session. Dan Denning: I've just gotta get it in. I'm the only one up here gonna say it, but I

will say it this way, with respect to your asset allocation question, we don't know the future. We know that there are cycles in markets. We know that historically, it's really hard to go higher from this when we're this late in the cycle, we have this much debt, this much low growth, and I'll answer the other question you had on your list. There's a book that I recommend everybody read called –

Amber Mason: Wait. I'm saving that for the end. All right, Marco, you're just

going all in over there.




Marco Wutzer: I think it was abundantly clear, but just in case it wasn't, what Nick was talking about with the cannabis space, I see a lot of similarities, a lot of parallels to the crypto space, because also it's really a paradigm shift, and it's really massive, and it's very early still, 'cause one thing that Nick didn't talk about is if the US legalizes marijuana, a lot of places in Europe and the rest of the world are not far behind because there's this gold rush happening, and sooner or later, everyone gets it, so the big brands like he was talking about, when they take over the US market, that's just the first step. Afterwards comes the international expansion. So this is a huge, huge theme that we're really early on, so I don't think you can go wrong with that.

Amber Mason: Anyone else, an idea they heard this week that they think was – Teeka Tiwari: Yeah, I just want to reiterate, the hemp idea. I didn't know that

hemp was going to be legalized. I think that's huge and I didn't know that we were so close to potentially legalizing marijuana, so that's something I learned the last couple of days.

Nick Giambruno: Yeah, that is coming soon. You know who introduced federal legal

hemp? Mitch McConnell. It wasn't Bernie Sanders or some fringe politician. It was Mitch McConnell. So it's going to happen.

Amber Mason: Great. All right, I think just time for one more and I'd like a book

recommendation from everybody, and if you want to do a little extra editorializing on that, you can have the time.

Dan Denning: It's quick. It's called The Dark Valley. It's a history of the 1930s,

the decade between the peak of the stock market and the onset of World War II. If it were about today, it would be about an angry culture full of drug-using speculators.

Dave Forest: Is that written by Doug Casey? The Enchiridion by Epictetus, the

famous stoic philosopher, one of the key lessons of the stoics being to focus on the things you can control and give up worry about things that are outside of your control, which I think is a great lesson for life and for investing. It's The Enchiridion. Now you're going to make me spell it, aren't you?

Amber Mason: Who can spell that? Dave Forest: E-N-C-H-I-R-D-O-N, and the author is Epictetus, E-P-I-C-T-E-T-

U-S. Amber Mason: We'll post these somewhere.




Dave Forest: Spelling bee champion. E.B. Tucker: An excellent book I've been reading, and John's been reading it as

well, is called My Adventures with Your Money, and it's the story of George Graham Rice, who's kind of the original con artist in the 1910s and '20s, and this guy was the first perp walk ever. He's basically responsible for most of the SEC rules, not that those are all so great or anything, but the book is incredible. The guy was just the most persuasive, excellent, sophisticated con artist there ever was. He makes Madoff look like someone selling something at the fairgrounds. The guy was incredible. So it's a great book and I think there's a lot of lessons about how to manage your own assets, and spot trouble, and avoid trouble. We don't talk about that enough. Avoiding trouble is more important than finding a huge winner.

Amber Mason: I think Dan would agree with that. Jeff Clark: I read two books recently. Neither one of them had anything to do

with investments, but it will help explain the notable change in my writing style recently. One is an old book called Zen and the Art of Motorcycle Maintenance, which I thing Doug would like, and that's an old one but it's a great book. The other one which maybe Bill would like is called Biocentrism. It's not light reading at all. It's about quantum theory and the existence of time. I'll just give you the conclusion. They say time doesn't really exist, but there's a lot of math and stuff that proves that point, so if you're looking for some light reading, that's not the one.

Jason Bodner: I love a book. It's an old book. I read it a long time ago. It's called

Extraordinary Popular Delusions and the Madness of Crowds, a very wordy title. It's written by a guy named Charles McKay in the 1800s, I believe, but it goes into detail on several different manias throughout history, most notably the Dutch tulip bubble, and the Salem witch trials, and I think the Dutch East – not the Dutch East –

Amber Mason: The East India? Jason Bodner: But there are about six or seven actual bubbles that you can study

and learn a lot from because the term is just thrown around loosely all the time, "Oh, it's a bubble. It's a bubble." But you can actually read what really happens in the excess and the crazy lengths that




people will go to when things get out of hand. I think it's really – Extraordinary Popular Delusions and the Madness of Crowds.

Jeff Clark: Could you spell that, please? Jason Bodner: Yeah, so I'm gonna send everyone an e-mail. That'll be easier. Teeka Tiwari: My book pick is called Reminiscences of a Stock Operator by

Edwin Lefèvre. It's kind of a fictionalized account of Jesse Livermore's life, probably one of the greatest traders that ever lived. It's just a heck of a read. It gives you such a window into what Wall Street was like back in the turn of the century and there's a lot of parallels between the early days of Wall Street and the crypto currency markets. I mean it's dramatic how many parallels are between the two, so I definitely recommend Reminiscences of a Stock Operator, great read.

Nick Giambruno: I would recommend a book called The Bitcoin Standard: The

Decentralized Alternative to Central Banking. This is a book, it might be a little bit of preaching to the choir for people who are familiar with crypto currencies, but maybe not because it takes a look at bitcoin through the perspective of Austrian economics and how bitcoin is sound money and how it can be used as money in the world. I think it's a really interesting book and it's largely an economics book but it's accessible to the average person. It's written in layman's terms, and when you wrap your mind around that and how bitcoin fits in through the Austrian framework as money, and you really get to see this new paradigm that Marco and Teeka are talking about. That would be the book I'd recommend. The Bitcoin Standard.

Marco Wutzer: I highly recommend that you read How I Found Freedom in an

Unfree World by Harry Brown. It was written probably 60 years ago or something like that, but it's as relevant as ever. We live in an increasingly insane society and it's just such a rational, rounded way of looking at society and how to free yourself from all this BS that's going on. It's a very, very worthwhile book. I highly recommend it.

Amber Mason: Great. Two more book recommendations. They're not out yet. Bill

just submitted a book for editing which should be out in a couple of months, and Doug has one coming out. Is it Assassin? Is that the next one? So buy Doug's first two books out front and then check out Assassin. Doug makes amazing arguments about things that nobody else would say and they're totally worth reading.




We worked these guys really hard this week and I just can you give them a round of applause? I think they did a really good job. [Applause] While you're standing up, I think Fernando's gonna be coming back out to the stage. I think Fernando was amazing. Can you give Fernando a round of applause, too? [Applause]

Marco Wutzer: I guess it's cocktail time. Dan Denning: While I have the chance, I'm not gonna make another speech, if

you haven't signed that digital bill of rights outside, it's just outside. We really are trying to make America great again. I picked this up in Montana. We mentioned it earlier, but it's right outside, and that petition launches this weekend.

Moderator: Dan, being an MC is a union position and you're taking my job.

What is this? Okay, just a couple of announcements. First, and just as a heads up, the really serious, very strong hard pitch is coming. Okay, first, please drop off all of the completed forms that you have. [Applause] So you wait till the end to give the applause that I was so eagerly looking for. I know what you're thinking. What happened to the other half of his pants? When in Rome, or in this case, when in Bermuda. Okay, so the completed 2019 Legacy ticket forms. If you can drop them off at either the customer service or at the sales desk here. The cocktail hour tonight. It's outside on the Great Sound Lawn, so through the lobby and make a left. There should be signs that say Great Sound Lawn. The only thing is because it's outside and it's in a grassy area, for anyone that's wearing either shoes, or heels, or anything like that that may be uncomfortable, out there, you may want to think about changing that up so that it doesn't bother you. And the last thing is, so we have one final shirt. It looks like it's Doug Casey's face on it. So this one is going to go to the last person who joins Legacy Lifetime, the last one who joins Legacy Lifetime. No, that's not good? So it's either that or it will go to –




Robin really wants it? So then it's going to go to Robin. I won't throw it, 'cause again, liability. Okay, so folks, that's it. The last thing I will say with regards to the Legacy Lifetime is you can go get any of your questions answered. Like I said, the best person to talk to you about it are your fellow peers and your fellow subscribers here. They'll definitely have the most experience with what it's like, and when you speak with the gentlemen outside, they can definitely set you up with that and they can explain to you what's happening, and there's two announcements that we have in terms of Legacy Lifetime. We've got two brand new products right now being developed. I don't know when they're coming out. You heard E.B. speak about his new service, which is being worked on. There's another one. I hesitate to say who it is and what it's about because it's not something that we tend to do, but one of the benefits of Lifetime is when we develop something new, you automatically get it. I will tease you a little bit with that. And finally, the last thing is the charter membership really is the lowest price that we'll ever have for Legacy Lifetime. I worked at Stansberry. These things go really high in price and right now is the lowest. In fact, you'll be very surprised when you speak with the gentlemen about how low the price really is, and don't forget, you do get that credit that you can use here. That's my hard pitch. Thank you so much and I hope you guys enjoyed it. [Applause] [Music playing]

[End of Audio]

[applause] moderator: thank you. i didn't go too far. okay ... · bulls_vs_bears_where the...

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