I was born on 6 August 1956 in San Francisco, California to Janet and (the late) Richard Hovis.
I grew up in Santa Monica, California where I attended elementary, junior high school, and high school (graduating in 1974), in addition to involvement in sports and recreation (Little League +, the Boy’s Club ++). Further, it was in elementary school – St. Augustine’s By-the -Sea Parish School that I found, and made the choice to truly journey with God.
I attended Arizona State University from 1974 to 1977 – seeking to become an architect, however, I was not accepted, and, as such, I graduated with a Liberal Arts degree.
Upon graduation from Arizona State University, I attended Cal Poly San Luis Obispo and studied City and Regional Planning at the Master’s level. I successfully completed one (1) year in a two (2) year program – I did not complete the Master’s degree in City and Regional Planning – due to personal reasons.
I returned to Santa Monica where I started (October 1979) my career as graphic designer with Exxon Company, USA. I spent five years with Exxon Company, USA.
While working with Exxon Company, USA I was accepted into architectural school – Sci-Arc in Southern California, however, I did not attend preferring to stay with Exxon..
In 1982 I married Laura Flosi and in April 1983 we had our one and only child – Lauren Alain Hovis – a gift from God.
We moved to Phoenix, Arizona in 1984 from Los Angeles, where I went to work as a graphic designer with Kitchell CEM (from 1985 -1987).
From 1987 – 1995 I was an independent contractor, and a registered representative in mortgage finance, financial management, graphic design, and drafting.
Further, I attended the University of Phoenix and successfully obtained a Master’s in Business Administration (MBA) in 1982.
I was also a member of the Scottsdale Jaycees, where I became very involved in community events and projects.
In 1994, I accepted a cartography position with the Defense Mapping Agency in Reston, Virginia. As such, I relocated from Phoenix to Reston.
In 1998, I was accepted and worked as a Visual Information Officer with the Central Intelligence Agency. In 2002, I worked as a Support Officer until my retirement (due to a need for shoulder surgery) in September 2018.
Away from my Federal Government service, I have been involved in various organizations and activities in Northern Virginia.
In November of 2011, I married Rebecca Ouellette in Santa Monica, California. I reside in San Tan Valley, AZ with my two hamster - Jess and Timothy, our fish, our lizard - RJ Lizard., and our cats - Pearl and Grey.
As to hobbies, I enjoy playing sports, attending sporting events, mentoring individuals from financial management to hamsters, building models, photography, travel, multimedia design, managing partner for RJ Hamster, and jazz – smooth jazz to a samba or a bossa nova.
Love and God Bless,
Peter – aka RJ Hamster Jo hi
Editor’s Note: For nearly 50 years, Louis Navellier has studied Federal Reserve cycles and the way they reshape leadership in the stock market. Over that time, he’s developed a reputation for identifying major trends early — especially in smaller, fast-growing companies that tend to benefit most when monetary conditions begin to loosen.
Right now, Louis believes Wall Street may be underestimating what’s developing behind the scenes at the Fed.
I’ve invited him here today to explain why two men connected to one of the most famous trades in financial history — the 1992 collapse of the British pound — may soon play a major role in shaping the next phase of U.S. monetary policy. Louis also explains why he believes this shift could create a rare opportunity in small-cap stocks, and why he’s preparing to discuss it in much greater detail in just a few hours during his free event, where he’ll also share one stock recommendation with attendees.
On September 16, 1992, the British government was fighting for its financial life.
For months, currency traders had been circling the British pound. The pound was pegged to European currencies at a rate most believed was indefensible. The U.K. economy was weakening. Inflation was high due to economic growth in Europe after the fall of the Berlin Wall.
The math didn’t work. And one man – George Soros – decided to bet on it.
What followed was one of the most spectacular days in the history of global finance.
Soros shorted $10 billion worth of the British pound.
The Bank of England fought back by buying pounds by the billions. It raised interest rates twice – from 10% to 12%, then to 15% – in a single day in a desperate attempt to defend the currency.
But it didn’t work. By the evening, it was over.
The British government surrendered. It unpegged the pound from Europe and later began a series of cuts, bringing its interest rate down to 6% by early 1993, leading to an economic recovery.
As for Soros, he made more than a billion dollars in a single day. The date went down in history as Black Wednesday.
I’m sure a lot of you folks know that story. But I bet not all of you know who else was in the room.
You see, two of the men connected to that trade are about to be in charge of American monetary and fiscal policy simultaneously. And I don’t think most investors have connected those dots yet.
I’m talking about Treasury Secretary Scott Bessent and Kevin Warsh, the incoming Federal Reserve Chair.
I’ve been at this for nearly five decades. I’ve seen every market cycle and every Fed regime come and go. And I want to tell you directly: I think this combination is very good news for your portfolio.
In this piece, I’ll explain the connection between Bessent and Warsh – and why I think it’s good news for investors. I’ll also give you my prediction for the Fed’s next move and how to be positioned before everyone else catches on.
I’ll also be going deeper at my Fed Shockevent later today at 1 p.m. Eastern, where I’ll share my highest-conviction picks and a free stock recommendation just for attending. (It’s only a few hours away. Click here to reserve your spot now.)
Look out for a package from Bastrop, Texas. It could arrive any day — and it’s from Elon Musk. It’s part of a project he’s waited 27 years to launch, which could be 15 times bigger than SpaceX, Tesla and xAI combined. And it’s going live right now.
What the Market Is Missing
Our Treasury Secretary – Scott Bessent – was part of the team that pulled off the Bank of England trade for Soros.
Kevin Warsh comes from the same world. After leaving the Fed in 2011, he went to work with Stanley Druckenmiller, the trader who actually executed the Black Wednesday trade. Druckenmiller and Bessent have remained close ever since.
These two men know each other, they trust each other, and they are operating from a shared playbook. And that playbook calls for lower rates.
Warsh has been a big critic of the Fed for years. He doesn’t like quantitative easing – the money printing that has ballooned the Fed’s balance sheet to nearly $7 trillion. But he also believes AI-driven productivity gains are fundamentally deflationary (meaning they’ll lower prices).
Bessent, meanwhile, is one of the most capable economic minds in Washington. He has publicly called for 150 basis points in reductions — that’s 1.5% — and he is fully aware of the mounting debt burden the country carries.
I believe he and Warsh are going to work together, and I believe they are going to move faster than the market expects.
How We Can Profit From the New Fed Regime
I’ve seen this movie before. Four times, to be precise.
Every time the Fed opens a sustained rate-cut cycle, the same dynamic plays out: smaller, domestically focused companies — the ones most sensitive to borrowing costs and most leveraged to U.S. economic growth — become the biggest winners. Not immediately. But consistently, and dramatically.
2020 COVID cuts: MARA Holdings +1,800%. Moderna +1,200%.
Different stocks. Different sectors. Same dynamic every time.
Now, I’m not naive about what we’re dealing with. There’s a war on. Inflation is still a factor. The Fed moves more slowly than anyone wants, and Warsh will need to build consensus on a 12-person committee.
This isn’t going to happen overnight.
But the direction is clear. The players are in place. And history says this is how it plays out.
The Exclusion List
My Stock Grader system has already been running throughout this early phase of the cutting cycle – and it has flagged 53 stocks showing the same early signals I’ve described in every prior window.
Strong fundamentals. Building institutional buying pressure. Consistent top rankings in my eight-factor model month after month.
I call it the Exclusion List. These are stocks that are too small for the big Wall Street funds to touch — but not too small for you.
Today at 1 p.m. Eastern, I’m going live to share my highest-conviction picks from that list. The are the names I believe are best positioned for what’s coming. I’ll also give away a free stock recommendation just for attending.
Manage your account We hope this timely investment research is valuable to you. As you know the markets move fast and conditions change frequently. So please check the current issue for the most recent advice. Please note that we cannot be liable for any missed bulletins caused by overzealous filters. To ensure that you continue to receive this valuable part of your service please take a moment to add services@exct.investorplace.comto your address book.
Legendary storyteller. International racing star. And still one of the funniest men ever to climb out of a race car.
David Hobbs raced everything — Trans-Am, Formula One, sports cars, touring cars, Indy cars, IMSA, NASCAR, and Can-Am. He competed in both the Indianapolis 500 and the Daytona 500, raced in the 24 Hours of Daytona, and made twenty starts at the 24 Hours of Le Mans during one of the most dangerous and exciting eras in motorsport history.
This Labor Day Weekend, one of racing’s most beloved personalities returns to
Lime Rock Park as a Special Guest of Historic Festival 44 — and if you’ve ever heard “Hobbo” tell a story, you already know this is going to be fun.
“My first trip to Lime Rock,” Hobbs recalls, “was in 1969… I was overwhelmed with the beauty of the area, the adulation of a local driver, Sam something, and the fantastic, very challenging track.”
That “Sam something,” of course, was Sam Posey.
Hobbs quickly became part of Lime Rock lore himself — winning at the circuit and setting a track record that stood for years. But for many fans, the stories became just as legendary as the driving.
At HF44. Hobbo returns to the place he still speaks about with genuine affection.
“Lime Rock to me epitomizes the birth of American road racing. The track just carved through the local terrain — a true racer’s layout. I always relish my visits.”
His first Trans-Am race came in 1969 at Riverside, lining up against names that still echo through American road racing history — Mark Donohue, Dan Gurney, Parnelli Jones, Peter Revson, Swede Savage, George Follmer, and Sam Posey. Many of the very same cars from that era will return to Lime Rock this year as Historic Trans-Am joins HF44.
Then came 1983.
“My first Trans-Am season with DeAtley Motorsports came out of the blue,” Hobbs says, “but it worked out rather well.”
That’s one way to put it.
The phone call from team manager John Dick became classic Hobbo material almost immediately.
“John Dick here,” the caller said. “We’re going to run a Trans-Am team next year with Chevrolet Camaros, Budweiser money, and intend to win a championship. It’s going to be a fully funded team, and we would like you to drive one of the cars.”
Hobbs replied, “OK, sure.”
And he went on, “The Dickey brothers are going to be the mechanics.”
“Uh huh. And your name is?”
“John Dick.”
Hobbs replied: “Sounds to me like there’s an awful lot of dick in this team.”
Driving alongside Willy T. Ribbs, Hobbs captured four victories and the 1983 Trans-Am title — a defining season in a remarkable international racing career.
“A mere 24 years after I started racing, I became Trans-Am Champion. With me is Nick Craw, a former racer who was President of the SCCA at the time and now is a top man within the FIA.”Get Tickets To Historic Festival 44 Here
Jocko Maggiacomo Named Special Guest at HF44
Chauncey “Jocko” Maggiacomo will return to Lime Rock Park for Historic Festival 44 as he celebrates the 50th anniversary of his 1976 SCCA Trans-Am Championship season.
For fans of American road racing, Jocko’s story feels deeply connected to
Lime Rock itself.
The Poughkeepsie native followed in the footsteps of his father,
Chauncey “Jocko” Maggiacomo Sr., who raced everything from motorcycles and midgets to modifieds and late models before earning induction into the
New England Auto Racers Hall of Fame in 2000. But while his father made his name on oval tracks, Jocko gravitated toward road racing and quickly became one of the standout independent drivers of Trans-Am’s golden era.
Driving a dark blue AMC Javelin originally built by Roger Penske for
Mark Donohue, Maggiacomo opened the 1976 season with a victory at Pocono, added another win at Road America, and led the points throughout the season on his way to capturing the TA I championship for production and sedan-based cars. By season’s end, he finished third overall in the standings behind only George Follmer and Hurley Haywood in their new turbocharged Porsches.
“Trans-Am was the closest thing between road racing and stock cars,” Maggiacomo recalled in an interview with The Schenectady Gazette. “I had always gotten a kick out of watching Mark Donohue, Parnelli Jones, and Dan Gurney run bumper-to-bumper in Trans-Am cars, and I got hooked on it.”
Driving a Chevy Camaro, Maggiacomo won the first-ever IMSA race held at Lime Rock Park in the TO class. During Penske Racing’s successful Trans-Am years, he spent countless hours testing his AMC Javelin at Lime Rock for Mark Donohue.
“At one point, Mark told me, ‘You’ve got to come out to TRA-CO in Culver City, to test engines,’ remembered Maggiacomo. “I told him, ‘Mark, I’ve got a family, a shop to run, and staff back in Poughkeepsie.’ Mark looked at me and said, ‘Jocko, cubic horsepower generates cubic dollars.’ That line stuck with me.”
Years later, when Maggiacomo transitioned into NASCAR competition with the AMC Matador, TRA-CO supplied the engines.
“I spent a lot of time at Lime Rock, going back to when I was a child,” he said. “My dad won the Little Le Mans race in a Studebaker Lark, and I was there for that win. I even rode the victory lap holding the checkered flag!”
Jocko Maggiacomo
That 1960 Little Le Mans victory became part of Lime Rock lore. Jocko Maggiacomo Sr. co-drove a Studebaker Lark with legendary Holman & Moody co-founder Ralph Moody, guiding the unlikely American sedan to victory in the eight-hour endurance race against European favorites including Abarths, Saabs, and Volvos.
For a young Jocko, the memory never left him. “I’d love to drive one of those Historic Trans-Am cars at Historic Festival 44!”
Historic Festival 44 takes place Labor Day Weekend at Lime Rock Park and will celebrate Alfa Romeo as the Featured Marque while welcoming the return of Historic Trans-Am to the circuit where the series helped build its American legacy.Get Tickets To Historic Festival 44 Here
Miles Collier, founder of the Revs Institute, returns to Lime Rock Park as Honored Guest of Historic Festival 44, joined by Chief Curator Scott George. Revs will bring a group of historic cars—some on display, others racing. This year’s Featured Marque, Alfa Romeo, will be celebrated with a strong gathering of cars, including rare examples from Revs and ARCA-era machines tied to early American road racing. – Read more.
Tommy Kendall returns to Lime Rock Park as a Special Guest for Historic Festival 44, joined by his iconic All-Sport Roush Mustang—the car that defined his dominant 1997 Trans-Am championship run, highlighted by an incredible 11 victories. This appearance is part of the Historic Trans-Am celebration at Historic Festival 44, where the cars, drivers, and stories that defined an era return to Lime Rock Park. – Read More.
On Sunday, the circuit goes quiet and becomes home to Sunday in the Park — the largest Concours in the Northeast and the only one held as part of a historic race weekend. Collectors and car owners gather along the Sam Posey Straight, with Alfa Romeo proudly featured among a world-class field of rare and elegant automobiles. If you own a historic Alfa Romeo — or a car worthy of inclusion —Apply for the Concours Here.
Sunday morning at HF43 begins with one of Lime Rock’s most colorful traditions: the Gathering of the Marques. Cars of all kinds line the track, parked by make in a joyful celebration of automotive passion.
No pressure. Just good vibes, great cars, and a whole lot of chrome. Got something good lookin’? Bring it. Want to stroll the track with a coffee and take it all in? You’re in the right place. — Register Here.
Planning your HF44 Weekend
As you begin thinking ahead to HF44, it’s worth noting that lodging and dining in the Northwest Corner tend to fill early for Historic Festival weekend. We’ve listed our preferred hospitality partners — the inns, hotels, and restaurants that know our community and welcome our fans, competitors, and crews — on our website. You can explore your options here.
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When a secretive project gets a name, it means we’re closer to a breakthrough than most people think. When Golden Dawn launches, it could instantly leapfrog ChatGPT, Gemini, and Grok – and trigger a $100 trillion reset of the AI markets. Louis Navellier is revealing the one stock at the center of it – down to the ticker. Go here to get the details, free.Top 3 Financial Stocks That Could Lead To Your Biggest Gains In May
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🧨New Fed Sheriff Rides into Town… Microsoft Misses the “Mag 7” Yacht Party (+$500B Session)
“You hear that? That’s the sound of cheap money ridin’ into town.” -newly elected Sheriff Kevin Warsh
Well folks, today is your lucky day. After an 8-year run filled with endless word salads, emergency money-printing, and a zero-interest-rate COVID environment that accidentally created the greatest casino in stock market history… Jerome Powell is officially hanging it up on Friday.
And in his place? Trump’s minion (read: Kevin Warsh) is inheriting arguably the most influential job on planet Earth. (“I used to pray for times like this.”)
The Senate voted 54-45 to confirm Warsh as the next Federal Reserve chairman, and funny enough, Pennsylvania’s human hoodie John Fetterman was the only Democrat who crossed party lines to vote yes. (I knew I always liked that guy for some reason, just couldn’t figure out why).
That said, yesterday’s hotter-than-expected inflation report still managed to smack parts of the market around like a substitute teacher trying to control a middle school classroom.
The Dow slipped 0.2% as household-name companies like Nike and Home Depot got kicked directly into the clearance aisle. But while old-economy stocks were busy crying into their dividend yields, the money simply rotated right back into Big Tech like always.
The S&P 500 climbed 0.7%, while the Nasdaq ripped 1.3% after Donnie’s little bachelor trip to China with all his billionaire tech bros gave investors hope that Jensen Huang (read: Nvidia) may once again be allowed to sell the “good stuff” to Xi Jinping.
ANd get this, the Mag 7 stocks added half a TRILLION dollars in market cap today with Google seeing it’s best record since April, Nvidia up 6 sessions in a row and hitting an all time high… and even with Tim Apple gone, the iPhone maker was able to cross $300 for the first time ever.
In addition, Tesla, Meta, and Amazon are living it up. The only one who sh*t the bed, was Microsoft which loss $26 billion and had its 4th straight losing session.
So instead of just buying the S&P, maybe it’s time we start just telling folks to split their portfolio 7 ways into the Mag 7 stocks. (This is just a joke). But it’s worth mentioning, with all the bubble talk, do we really think that’s bursting anytime soon now that Kev is getting handed the keys? My money is on no. But we’ve never seen the market go up like this for this long.
If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.
Market momentum is building — don’t miss the move.
GuyStocks gives you free, real-time alerts so you can catch stock momentum as it happens—not after it’s already run.
Alibaba’s Profit Machine Pulls a “2020 Jack Ma” (-84%)… CEO Crowns Himself China’s Jensen Huang
Jack Ma 🤝 Alibaba profits disappearing without notice…
Well ladies and gentlecars, the original Temu (read: Alibaba) just delivered one of the funniest earnings contradictions Wall Street has seen all year.
Somehow, the company’s AI business centered around it’s LLM “Quen” and AI Agents is growing like a weed… while profits are simultaneously pulling a Jack Ma circa 2020.
And this isn’t clickbait bad… it’s bad, bad… For instance, Alibaba reported adjusted EBITA collapsed a horrendous 84% year-over-year during the March quarter. Funny enough, Alibaba shares initially popped 1-2% in premarket trading before investors actually read the earnings report and…
FedEx CEO Risks “Cramer Curse” After Dismissing Amazon Logistics Threats on Mad Money
Inverse Cramer’s gonna have a field day making memes about this…
What’s the first move you make if you run a powerful Fortune 500 company and a new competitor claims your turf? If you’re answer isn’t “go on Mad Money and jinx yourself BIGLY chatting it up with Jim Cramer…” then, respect. Unfortunately for all you FedExshareholders, CEO Raj Subramaniam (what a name), did exactly that.
It all started earlier this month when Amazon rolled out a new service called “Amazon Supply Chain Services,” which pretty much lets…
Drown Bad: Waymo Recalls 3,800 Robotaxis After Multiple Cars Cruised Into Flash Floods
“Where we’re going, we don’t need roads.” – Doc Brown Waymo
Of all the rules a self-driving fleet could break, Waymo’s billion-dollar AV unit found the one printed on every Texas highway billboard during flash flood season. Three thousand eight hundred robotaxis are now under voluntary recall because the software couldn’t reliably tell the difference between a road and a creek.
The recall, filed Tuesday with the NHTSA, covers vehicles running Waymo’s fifth and sixth-generation automated driving systems. Which… checks notes… is basically the whole commercial fleet. The trigger though, is the cameras in Austin, San Antonio, and elsewhere catching Waymos either nosing into flooded streets, stalling mid-storm, or, in one San Antonio case on April 20, getting straight-up swept into a creek with no passengers on board.
That said, this isn’t a one-off for Waymo. Google’s side-piece has been catching safety-flag strays at the same time it’s been aggressively expanding into Los Angeles, Phoenix, Miami, and Austin, with select access in a few more markets. Austin alone has produced the school-bus-yielding controversy and now the flood-canon footage. In December, the SF fleet famously gridlocked an entire neighborhood during a power outage by stopping in place mid-intersection. Different bug, same underlying problem: the cars handle 99% of driving and then catastrophically misread the 1% any teenager could parse.
SoftBank’s $46 Billion Vision Fund Gain Was 99% OpenAI, and Masa Son Is Selling Nvidia to Press
Diversification is for poors. Citation: Masayoshi Son.
If your $46 billion annual gain comes from one position, you don’t have a Vision Fund. You have an OpenAI fund with extra steps.
That’s the awkward asterisk on SoftBank’s earnings drop this week. All-In Masa (read: Masayoshi Son), the man who has lost more money on bad ideas than Zuck (sup, Reality Labs), just booked a $46 billion yearly gain at his Vision Fund. And basically all of it is OpenAI. The fund’s $30B-and-counting stake in Sam Altman’s chatbot empire generated $45 billion in paper gains this year alone. The other 300+ portfolio companies? Bleeding.
We’re talking companies like Coupang, DiDi Global, and Klarna… to which the Vision Fund is literally losing money on the parts that aren’t OpenAI. In Q4, $20 billion of the gain came from OpenAI while the rest of the book was getting its cheeks clapped. Translation: Masa accidentally built a single-stock ETF and called it venture capital.
To his credit (and to S&P’s horror), he’s leaning IN. SoftBank has committed…
This is Michael Reece saying congrats on TDIC, QUCY, FCHL!
I first alerted TDIC on May 12, premarket at approx. $1.61, and it rocketed to a high of $30,00 today May 13, representing 1,763% gain from my alert.
Take a look at the Snapshot of Level II below.
QUCY Rallies to a High of $1.62
Running Up 224% in Gains
I alerted QUCY on May 13, premarket at approx. $.50, and it rocketed to a high of $1.62 today representing 224% gain from my alert.
Take a look at the Snapshot of Level II below.
FCHL Rallies to a High of $3.32
Running Up 22% in Gains
I alerted FCHL on May 13, premarket at approx. $1.89, and it rocketed to a high of $2.32 today representing 22% gain from my alert.
Take a look at the Snapshot of Level II below.
These three momentum setups delivered a combined gain potential of +2,000%.
And if you liked the moves above… you’re going to want to see the next setup we’re tracking closely.
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Delivering World-Class Financial Research Since 1999
A conversation with Gabe Marshank… How to make money from basic economics… Be ‘right and unlucky’… The AI power boom… The price that needs to go higher… A company well positioned to profit… Learn more here…
Editor’s note: In today’s Digest, we’re taking a break from the daily news on Iran, inflation, and AI to bring you a special Q&A that our Director of Research Matt Weinschenk recently had with Stansberry Research senior analyst and Market Maven editor Gabe Marshank…
Before joining Stansberry Research a few years ago, Gabe spent nearly 30 years at the top of the hedge-fund world.
He worked alongside folks like Leon Cooperman at Omega Advisors, David Einhorn at Greenlight Capital, and Steve Cohen at SAC Capital, helping generate hundreds of millions in gains for some of the most demanding investors alive.
Now, he puts his skills and investing experience to work for Stansberry Research subscribers…
In this conversation – pulled from our weekly Top Stocks show on YouTube and edited for length and clarity – Gabe joined Matt to talk about how he thinks about markets… why an overlooked energy story is bigger than most people realize (it has to do with the longer-term story about AI)… and one of his favorite stocks to play this story.
I (Corey McLaughlin) hope you enjoy… and if you’re interested in learning more about Gabe’s investment thesis about energy in America, he recently laid out all the details in a free presentation. More on that at the end of today’s issue…
Why you can ignore Wall Street’s obsessions…
Matt Weinschenk: Gabe, you’ve had this very specific investing niche throughout your career where you found huge opportunities in the industrial and commodity markets. Why there?
Gabe Marshank: I started from the principle that I could work harder, or I could work smarter. In 1997, when I was at Omega, all these tech guys were running everywhere trying to chase everything. It was kind of the beginning of the dot-com boom. And everyone was trying to tell me how an OC-192 self-healing ring worked [in network connections]. I didn’t want to do that. It seemed too hard. But if I went and looked at industries that nobody else was following, there was nobody else following them. It’s like playing basketball against short people. I’d rather do that than try to go against the toughest guy on the playground.
What I found is that a lot of the best hedge-fund managers have come out of cyclical and industrial industries, because it forces a real grounding in economics, and if you get the economics right in these industries, you can make a lot of money. And the thing I’ve always focused on – always, always, always – is what’s happening on the supply side. Because what you find on Wall Street is economists sitting there looking at a crystal ball saying, “I think GDP is going to grow 3.4% this year, not 3.3%.” Who cares? If you have a situation where the supply of iron ore could go up by 10%, why does it matter whether Japan grows at 3.3% or 3.4%? So I’ve always focused on supply, and that has been the way I’ve gotten into a lot of profitable trades.
Matt: Give us a classic example – a supply story that played out exactly the way you’d expect.
Gabe: Coal is a good one. Utilities were phasing out their old coal plants. Some of it was driven by environmental regulations, but a lot of it was just that these plants were getting to the end of their useful life, getting more expensive to run. Demand started falling, and it fell continuously until last year. And the stock market said, “Nobody’s ever going to use coal again.” The stocks went down a ton. They lost access to capital. Companies had to close mines. And all of a sudden, out of nowhere, you got this supply crunch.
You could just look at where supply was going versus where demand was. You knew the market was going to be undersupplied. Sure enough, coal prices more than doubled. These stocks went absolutely ballistic. I have a friend who took the money he made on that trade and bought a villa in central Italy we now call Domaine Appalachia.
Matt: So it was a function of there being certain things in the world that you can only make more of with a huge investment in a long time frame… How do you apply that same thinking when you’re looking at any stock, not just a commodity?
Gabe: The first thing I’ve ever told any analyst who has come to work with me is that it doesn’t start with stocks. It starts with companies. And companies start with their actual business model, and it’s something a lot of people forget. Just ask yourself, “How does this company make money?”
Here’s a great example: British Airways. You’d probably say it makes money flying planes around. But if you really look, British Airways makes money by operating premium cabin service – business class and first class from New York to London. That’s it. That’s 100% of its profits. The rest of the network is there to feed [that one route]…
And one of the things I love is when you find an idea and you say to yourself, “If I get this one thing right, I get paid.” Because you always want to look back and ask, “If the stock goes up, was I right, or was I lucky? If the stock goes down, was I unlucky, or was I dumb?” You want to be in the “right and unlucky” camp. You never want to be “lucky and dumb.”
The AI power boom…
Matt: Let’s get into the big story you’ve been focused on. People have seen the headlines about AI power demand… Everyone’s saying their power bill is going up. It’s on the front page. How can this story not already be priced in the market?
Gabe: In most cyclical industries, it takes a couple of years to open a new mine or new factory. Electricity is regulated. It has to be – it’s literally a matter of life and death. If there isn’t enough reserve capacity, bad things happen. You can get a blackout like the Northeast had in 2004. You can get a hospital without power for lifesaving equipment. What complicates it is that our system in the U.S. is incredibly complex.
You’ve got regional grid operators and regional transmission organizations. There are organizations you probably have never heard of, but you might have heard of ERCOT [the Electric Reliability Council of Texas]. These are the guys who oversaw the Texas grid when it went down during Winter Storm Uri. PJM Interconnection is the one out here in [the mid-Atlantic] that operates the largest grid in America… They’ve all got to tie in together… and you have this huge mishmash of regulatory interference at the federal and state levels… It’s a mess.
So unlike most cyclical industries, where some people say, “Hey, I want to flip the switch,” you can’t do that in energy and power… It can take as much as eight years for a new facility to come on.
And on top of that, we had a bad lesson to unlearn. Back in 2000 or 2001, you had the California energy crisis. We had overbuilt. Those were the Enron days. The whole industry went into restructuring. Capital never really came back. Nobody ever said, “I want to invest in utilities.” One guy was investing in utilities – Warren Buffett. And that should tell you how little supply was coming on… So the backdrop going into the AI era was an industry that was wildly underinvested. And I can’t emphasize how critical that is. People thought demand was going to be flat forever.
We were tracking right along the path where electricity intensity – the amount of electricity it takes to produce a dollar of gross domestic product (“GDP”) – was expected to decline. That’s what happened in Japan, and there was every reason to believe we were heading in the same direction.
And then one day ChatGPT came along and turned it all on its head. I don’t think it’s an exaggeration to say this is one of the most seminal events in at least modern economic history. And it was so electrically intense that demand went from well below GDP growth to this accelerating spike. At the same time, supply hadn’t caught up.
Matt: This won’t be fixed next year or the following year. You’ve got a view that over the next five or 10 years we are going to be short on power?
Gabe: Well, I don’t have the view. The market has the view… That’s one of the things that’s part of my framework – listen to what the market is giving me… If you look right now, Nvidia (NVDA) is breaking out to new highs. That’s an astonishing thing to say. You have the world’s largest company adding hundreds of billions of dollars of market cap in a day.
The hyperscalers – Amazon (AMZN), Meta Platforms (META), Alphabet (GOOGL), and so forth – are going to spend $600 billion in capital expenditures (“capex”) this year. About nine months ago, that number was $400 billion.
Matt: There was a time when there was a big capex announcement, and the stocks would go up. And then there was a time when there was a big capex announcement, and the reaction started to get muted. But now it has gone back to big capex [meaning] big stock moves like these are being highly approved by the market.
Gabe: That’s right, the market is approving this spending. It’s saying these companies can earn a return. Now, I’m deeply skeptical over whether these companies can earn a return. In fact, I doubt that OpenAI will ever earn a return… Because the fact is that Claude got invented not out of thin air but with just a bunch of money getting poured into the ground, and it was able to take away OpenAI’s business.
But I don’t have to make that bet, right? I don’t have to be the one who’s deciding if the money is going to make sense, because I can own the companies where they’re spending the money.
What has gotten left behind…
Matt: OK, so as you follow this value chain, what’s the answer to keep our power grid going?
Gabe: If you’re listening to what the market is telling you, GE Vernova (GEV) – the biggest U.S.-based turbine manufacturer – went from $100 to $400 in a year… Quanta Services (PWR), which is the company that puts in long-haul transmission lines, went from $300 to $630. These are not small companies. But they’re telling you something is really moving.
The [thing] that has gotten left behind is natural gas. Natural gas is the critical swing fuel in the U.S. energy stack… At the baseload, you have the stuff that runs all the time. That’s nuclear, hydro, a lot of the old coal facilities. Then you have solar and wind, which are fine when the sun is shining and the wind is blowing, but you can’t predict when they run.
You need something that can act as a swing producer, and that’s natural gas. It’s very efficient, it’s much cleaner than coal, and it’s a lot easier to put up… Liquefied natural gas (“LNG”) is a technology that has been around for a long time but is kind of getting going in real time. I see LNG capacity following the same path that we saw with U.S. onshore drilling. And you’ve now got a second demand driver, which is the LNG export market…
New nuclear is the only real alternative, and that’s basically a generational project…
Matt: But the technology with LNG is settled. We know how to build a natural gas plant. They [can build] them on a scale sometimes that can actually be at the data centers.
Gabe: But despite two enormous demand drivers ‒ new domestic power generation and a booming LNG export market – natural gas prices are still near historic lows. Historically, there’s a 6-to-1 ratio in terms of pricing with oil. If oil is at $90, oil-equivalency math says gas should be trading around $15. It’s at $3.
At some point, that has got to end. You can’t have a free commodity forever. It’s going to be valued at what it’s worth… and that’s going to be an incentive [for companies to get more gas]. The market is going to find a way to get more gas.
A stock worth knowing about…
Matt: If you like this natural gas thesis, why don’t you tell us about your favorite investments to play it?
Gabe: Again, what I find really easy is supply and demand. My old boss at Pequot Capital Management, Art Samberg, rest his soul, used to say the best management is excess demand… I wanted to find the lowest-cost producer of natural gas. That’s Antero Resources (AR). It’s actually headquartered in Denver, with assets in the Marcellus Shale… That’s mostly in West Virginia, Ohio, Pennsylvania… right next to “Data-Center Alley” in Virginia. It has very, very big wells, is very focused on keeping operational costs low, and has access to a pipeline system that gets its gas out for a very low cost. These guys are incredibly well positioned.
Matt: They have about an $11 billion market cap on $800 million of free cash, call it 10 times free cash flow. But with natural gas at $2.50 [per million British thermal units (“MMBtu”)], they make about $1 billion more in free cash flow for every dollar that natural gas goes up. So if natural gas goes to $5 or $6 MMBtu, [Antero] is going to have $5 billion or $6 billion of free cash flow and be trading at 5 times, which is remarkable… if you put a forward multiple on that.
Gabe: It’s really as simple as that… Keep it simple, stupid. It shouldn’t take you all the work in the world to arrive at a really simple and obvious answer – and that’s it… If you’re bullish on natural gas, you can be bullish on Antero Resources.
Editor’s note: Before Gabe buys any stock, he asks himself one thing: “What is the single thing I need to get right to make money?”
If you can answer it clearly, you understand the investment. If you can’t, you’re relying on luck. For Antero Resources, the answer is the price of natural gas. For British Airways, it’s one transatlantic route in business class.
The simpler the answer, the better your chances of knowing whether you’re right or wrong about an investment… or are simply leaving things up to chance…
This is the same discipline Gabe used on Wall Street. Now, he’s applying it for you… including with the AI story…
As Gabe says, “The best AI businesses probably haven’t been invented yet. What we want to figure out is the path from here to there – and right now, that path runs through power.”
Stansberry Alliance members and Gabe’s Market Maven subscribers already have the details laid out here.
But if you don’t have access to Gabe’s research yet, he goes much deeper on all of this in a new free presentation – including more stocks up and down the power value chain… and the full case for why he thinks this story has years left to run.
Gabe Marshank – who made $100 million in profits TWICE by spotting this exact setup before – says the same signal is flashing again. He says the biggest gains could come to those who make one straightforward move before June 1.Instead of briefing billionaire hedge-fund owners, he’s going public (for only the second time ever). Click here now to see his urgent free presentation.
New 52-week highs (as of 5/12/26): Altius Minerals (ALS.TO), BHP (BHP), Alpha Architect 1-3 Month Box Fund (BOXX), British American Tobacco (BTI), CBOE Global Markets (CBOE), Cisco Systems (CSCO), Healthpeak Properties (DOC), Fanuc (FANUY), W.W. Grainger (GWW), KraneShares Bosera MSCI China A 50 Connect Index Fund (KBA), Nvidia (NVDA), Pembina Pipeline (PBA), Starbucks (SBUX), USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI), Solstice Advanced Materials (SOLS), SSR Mining (SSRM), and UnitedHealth (UNH).
“Re: Tim L’s comments on the state of the world [in yesterday’s mail]… The Iranian Islamic Revolutionary Guard Corps needs to go. They have fomented violence for nearly five decades… Trump needs to continue pressuring them until they are thrown out.” – Subscriber Mike M.
“Why not reduce rates? Go against the normal expectation… We are in a different economy full of tech and innovation. Rate hikes will stifle the growth while a rate reduction would stimulate the housing and other sectors. In my opinion, a rate reduction would only add to the economic boom. Inflation be damned! Inflation can be overcome by [the] incredible advantages that come with a reduction in rates.” – Subscriber Alan F.
All the best,
Corey McLaughlin with Matt Weinschenk and Gabe Marshank Baltimore, Maryland May 13, 2026
Stansberry Research Top 10 Open Recommendations
Top 10 highest-returning open stock positions across all Stansberry Research portfolios. Returns represent the total return from the initial recommendation.InvestmentBuy DateReturnPublicationMSFT Microsoft11/11/101,361.0%Retirement MillionaireMSFT Microsoft02/10/121,316.3%Stansberry’s Investment AdvisoryCIEN Ciena10/20/22900.7%Stansberry Innovations ReportGOOGL Alphabet12/15/16854.1%Retirement MillionaireADP Automatic Data Processing10/09/08825.3%Extreme ValueBRK.B Berkshire Hathaway04/01/09776.5%Retirement MillionaireALS-T Altius Minerals03/26/09755.7%Extreme ValueSII Sprott01/11/18682.5%Extreme ValueLITE Lumentum04/15/21625.1%Stansberry Innovations ReportWRB W.R. Berkley03/15/12618.5%Stansberry’s Investment Advisory
Please note: Securities appearing in the Top 10 are not necessarily recommended buys at current prices. The list reflects the best-performing positions currently in the model portfolio of any Stansberry Research publication. The buy date reflects when the editor recommended the investment in the listed publication, and the return shows its performance since that date. To learn if a security is still a recommended buy today, you must be a subscriber to that publication and refer to the most recent portfolio.
Top 10 Totals3Extreme ValueFerris3Retirement MillionaireDoc2Stansberry Innovations ReportEngel2Stansberry’s Investment AdvisoryPorter
Top 5 Crypto Capital Open Recommendations
Top 5 highest-returning open positions in the Crypto Capital model portfolioInvestmentBuy DateReturnPublicationBTC/USD Bitcoin11/27/182,074.5%Crypto CapitalWSTETH/USD Wrapped Staked Ethereum12/07/181,900.5%Crypto CapitalONE/USD Harmony12/16/191,012.3%Crypto CapitalPOL/USD Polygon02/26/21644.2%Crypto CapitalQRL/USD Quantum Resistant Ledger01/19/21403.6%Crypto Capital
Please note: Securities appearing in the Top 5 are not necessarily recommended buys at current prices. The list reflects the best-performing positions currently in the Crypto Capital model portfolio. The buy date reflects when the recommendation was made, and the return shows its performance since that date. To learn if it’s still a recommended buy today, you must be a subscriber and refer to the most recent portfolio.
^ These gains occurred with a partial position in the respective stocks. * Editor Dave Lashmet closed the first leg of this Nvidia position in November 2016 for a gain of about 108%. Then, he closed the second leg in July 2020 for a 777% return. And finally, in May 2022, he booked a 1,466% return on the final leg. Subscribers who followed his advice on Nvidia could’ve recorded a total weighted average gain of more than 600%.
Stansberry Research Crypto Hall of Fame
Top 5 highest-returning closed positions in the Crypto Capital model portfolioInvestmentDurationGainAnalystBand Protocol (BAND)0.31 years1,169%Crypto CapitalTerra (LUNA)0.41 years1,166%Crypto CapitalPolymesh (POLYX)3.84 years1,157%Crypto CapitalFrontier (FRONT)0.09 years979%Crypto CapitalBinance Coin (BNB)1.78 years963%Crypto Capital
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Focused market insights, strategic perspectives, and actionable ideas for informed investors.
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