Rick Rule is a highly experienced investor and speculator, focused on sub $1,000,000,000 market capitalization public and private issuers in natural resource industries.
Rick has structured, led and participated in hundreds of privately placed debt and equity issuances for resource companies operating internationally, and domiciled in Australia, Canada, Chile, Great Britain, New Zealand, Sweden, Switzerland and the United States.
Rick is a sought-after investment conference speaker as well, having presented at hundreds of resource and investment conferences over the last thirty years.
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If you enjoy listening to Rick speak, I highly recommend you attend one of his upcoming conferences:
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In this episode, Rick shares his perspective on 6 mental models that are useful to become an intelligent investor in natural resources. The mental models discussed include antifragility, barbell strategy, lindy effect, circle of competence, skin in the game and common sense.
Rick discusses how his experience in natural resource investing has informed his understanding of antifragility and gives examples of investments that have benefited from volatility and uncertainty. He also explains the barbell strategy and shares a time when this strategy resulted in outsized returns in the natural resource sector, highlighting the specific factors that contributed to that success.
The conversation also covers the lessons Rick has learned from investing in natural resource assets that have persisted over time, and how he evaluates the potential for future persistence when considering new investments. Rick shares his strategies for expanding his circle of competence as an investor, as well as his thoughts on aligning incentives with the management teams and insiders of the companies he invests in. Finally, the conversation touches on how to evaluate investment opportunities and navigate uncertainty in the markets.
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Host: Ben Mumme
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Guest: Rick Rule
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