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***This is an excerpt from a Long Pull Report sent to Collective members on September 11 outlining our bullish precious metals thesis we’ve been pounding the table for over a year. Enrollment to our Collective runs till Sunday. If you’d like to join, click the link below and get after it. Don’t hesitate to shoot…

As a culture, we’re obsessed with winning. Partly because it feels good. But more so because losing hurts twice as much as the pleasure we get from winning. Nobody wants to dissect how much they lost on that one trade. Instead, you want to brag about how much money you made buying NVDA.   But if…

RAIL designs, manufactures, and sells railcars and railcar components for transporting bulk commodities and containerized freight products in the United States and Mexico.  According to its website, the company offers a range of railcars, including open-top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars, bulk commodity cars, covered hopper cars, coil steel…

Every six months, we pour over our trade logs, journals, and public writings from the previous two quarters.  We review what we thought markets would do, how we placed and managed bets on these opinions, and then compare them to how reality unfolded. It’s a ruthless study of our mistakes in thinking and execution. Like…

At first glance, Fenix Resources (FEX) is a high-cost, single-asset Australian iron ore producer with a low remaining mine life (<4 years). And with a $150M market cap, most investors stop there and move on to the next idea. The good news is that they’re wrong. FEX is not just a single-asset producer of ~1.3Mt/year.…

“Poker isn’t just about calibrating the strength of your beliefs. It’s also about becoming comfortable with the fact that there’s no such thing as a sure thing—ever. You will never have all the information you want, and you will have to act all the same. Leave your certainty at the door.” ~ from the book…