Important notice about your subscription to Bonner Private Research
A personal thanks from the four of us for your support in 2022...plus some exciting plans for what's ahead the rest of the year.
Bonner Private Research
Thursday, June 30, 2022
It’s been nearly six months since we launched Bonner Private Research. You may have joined us early in our new venture. Or you may have only recently become a paying subscriber. Either way, you took a chance on something new. And for that, you have our sincere thanks.
Today I want to share with you some news about our plans for the rest of the year.
First, the great bear market we warned you about is finally here. The S&P 500 finished the first half of the calendar year down 20.6%. That’s the worst start to the year in 60 years (1962). This time, something is different.
As we’ve shown you in our research, the length and size of the bear market are the two big concerns for investors. How big will the ‘drawdown’ be? How long will it last? How long will it take to recover?
If it’s a ‘standard’ bear market (a 20% correction) then it could be the worst is behind us. We don’t think so. In fact, we may already be in a recession.
Today, the GDP tracker from the Atlanta branch of the Federal Reserve showed that the US economy shrank by 1% in the second quarter of the year. That’s after a decline of 1.6% in the first quarter. Technically, that’s a recession—one we think the stock market hasn’t fully reckoned with.
There are also important things happening outside the market that demand our attention and analysis.
The war in Ukraine drags on.
There are now less than 500 million barrels of oil left in the US Strategic Petroleum Reserve—a decline of almost 25% in the last year, with oil prices till over $100.
The mid-term elections in the US are just around the corner.
No one knows how high inflation or interest rates will go in the coming months (some people think inflation has already peaked and the Fed won’t have to raise rates by as much as expected.)
There are more questions than answers. As Investment Director Tom Dyson pointed out earlier this week, this is challenging market to understand, much less make the right calls. It’s taken over 50 years to get us into this situation (Nixon breaking the link between the dollar and gold, too many deficits, too much debt, interest rates too low, stock prices too high historically).
The problems aren’t going away in two months. It may take two years. Or ten. We don’t know.
What we DO know is that with your help, our experiment—a small team of analysts working to solve a major problem and find any opportunities along the way—is going to work out. Our work can continue.
As long as we’re supported exclusively by you, we can avoid third party advertising and aggressive marketing. That allows us to keep our operation small and the quality of our research high.
To that end, we wanted to let you know of some changes you may see in the coming months.
First, to reflect the quality of the work we’re providing, we’re going to raise our subscription price for all new readers to $39 per month or $395 per year. This will not affect you. We locked in your price when you first subscribed. You’ll continue to pay that price (either $10 a month or $100 a year) for as long as you stay with us.
Second, we’re going to release at least one new Research Report every quarter. These in-depth reports (like The Gold Report, The Strategy Report, and The Trade of the Decade) will focus on big ideas and specific topics. Over time, you can expect more of them. There are no shortage of serious and complex issues to explore. We also hope to do more subscriber-only Private Briefings on video with our colleagues from around the world like Chris Mayer, Rick Rule, Byron King, and Jim Rickards.
Comments on the website postings of Bill’s daily reports and all our paid research will be only be available to paying subscribers like you. We value the insights and perspectives of everyone in our small community. We want to keep the value of that conversation high by making sure your voices are heard. We want it to be a thoughtful, informed, and civil discussion that we all benefit from.
One other thing!
We’re going to try and host a virtual conference later this year. I can’t commit to it just yet because it takes a lot of organizing. But if we can get it together, it would be one or two days, jam packed with presentations from our own analysts and some hand-picked guests. Stay tuned for more on that.
In the meantime, thanks again for your support of Bonner Private Research. To be honest, we weren’t quite sure how (or if) this was going to work back in January. Or if it would be worth the price we started out with. After six months, we’re pleased to say it’s working out. And based on the quantity and quality of the work, we’d like to think it’s worth every penny. I certainly hope you’ve found it worth your time and money.
On behalf of Bill, Tom, Joel, and myself, I can say we couldn’t be happier working for you in this way as we all try to make our way through difficult times. We hope it’s been helpful, thought-provoking, a little amusing, and maybe even profitable!
There’s still lots of work to do. But we wanted to keep you informed of what’s ahead in the coming weeks and months. Thanks again!
Until next time,
PS We’re always interested in your comments, thoughts, and suggestions on how to improve. Please feel free to share them with us at firstname.lastname@example.org. Or feel free to leave a comment below (if you’re reading this on the website.)
Your feedback and constructive criticism helps us understand what you like and value about our work, and what we can do better to be more useful and worthy of your time.
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PPS We haven’t made any of this information public yet. We’ll do so in the coming weeks. But as one of first subscribers, we wanted to let you know first and get any feedback that might help us provide a better service. And also, to reassure you that if you see us talking about a higher subscription price, it won’t affect the price you paid when you first signed up.