Private Briefing with Tom Dyson (transcript)

Below you’ll find the transcript of Tom Dyson’s Private Briefing with Dan Denning from Thursday. You can find the original video here. Please note the transcript has been lightly edited for brevity and clarity.

Dan Denning: First of all, I should say that Tom and I talk like this at least twice a month, and we keep it private because we go over some business things, but we kind of do a top-down review of our strategy and of course, if anything is happening in the markets that we think will affect that, and if so, whether we should make any changes in what we should do and clearly the last week has been momentous in a lot of ways, but we're going to talk about those changes and we're going to start at the top, go all the way down to the bottom.

I also encourage paid readers to look in their email inboxes from this afternoon. Tom sent out a new alert with four new stocks to buy. So, if you haven't seen that, please review it and if you have questions about that, please send them via email to bpr@bonnerprivateresearch.

So, there's a lot to talk about, and thank you to everyone who sent their questions. I got most of them and I've tried to fit them into these categories. But first of all, Tom, welcome back to the Western hemisphere, where in the world are you right now?

Tom Dyson: I'm in the Dominican Republic.

Dan Denning: Okay.

Tom Dyson: And we're staying at a slightly down-market Airbnb in a slightly run-down neighborhood, because I didn't really know the geography of the Dominican Republic. And I think it's set up so that these giant all-inclusive resorts that the tourists go to and generally don't even step foot outside the resort. And then this town is where the workers live. Because I look out the window in the morning and I see security guards and maids, and they all have name tags on their lapels walking to work. So, we're in kind of a blue-collar area. There are some kids outside. There's a little pool outside. They're jumping around, so-

Dan Denning: So, if there are children screaming, they're not your children, there's somebody else's.

Tom Dyson: They're not my children, no.

Dan Denning: All right. Well, look, since the market closed today, a bunch of things have happened. First of all, the gold price set a record closing high of just under $3,200 an ounce. And then in aftermarket action, it has traded above that. So, to my knowledge, that's maybe the second time it's happened, but it looks like it's over $3,200 an ounce for now. And then we had such a wild couple of days on the indices and also with the 10-year yield and with the gold price. So, I looked at some of the numbers. We’ve got the Dow that's down 7% year-to-date, S&P, 10%, gold's up 21%, 36% in the last 12 months. The Nasdaq was down 4%. Today people are trying to figure out what the heck is going on and more importantly, how does this affect our strategy?

So, let me start from the 35,000-foot view that since Bonner Private Research started in late 2021, we have been warning of the popping of this great financial experiment. And we've stayed in maximum safety mode for that reason. And the main way we do that is with an asset allocation strategy that has us 40% cash, 40% gold, and 20% stocks with some small allocation to Bitcoin. So, let me start with gold. Are you happy with the way it's performing in terms of being in Maximum Safety Mode right now?