Roar!! Tweet memes. Roar again. Tweet some more. That’s apparently the way to get rich in the stock market. All of that fundamental mumbo jumbo Benjamin Graham spent a lifetime writing about is no longer the way to profits.
I kid, of course, but you wouldn’t know it by the meme stock price action that’s being driven by a gentleman who goes by the name Roaring Kitty.
This is, of course, meme mania 2.0. They made a great movie about the first one called Dumb Money for those who are curious. While I will continue to be entertained, I most definitely will not be partaking in the madness.
What I will be doing is what I’ve been doing for the past 16 years: Identifying opportunities in the resource space and then trying to mitigate the risks that are inherent when speculating in this corner of the market.
The good news is, after years of a miserable macro backdrop, we finally have a market where the trends are our friends.
The copper deficits I’ve been warning about for the past year are now materializing. Gold and silver are headed higher; ditto for uranium and lithium.
While some equities have started reacting, most still are sitting at multi-year lows. The difference is companies with real catalysts are now catching a bid.
There are a lot of companies wasting shareholder money hoping to catch a friendly market. But there are also some gems doing incredible grassroots exploration that will be richly rewarded in this cycle.