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Ticker Reports for February 5^th

COST $993.14  (+1.51%)

UBER $75.51  (+2.15%)

ENPH $48.76  (-5.64%)

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With New CEOs, Is Walmart or Target the Better Buy Going Forward?

After gaining less than 4% in 2025 and finishing second-worst among the S&P 500’s 11 sectors, consumer staples stocks are staging a comeback this year. 

Just over a month into 2026, the consumer staples sector has posted a gain of nearly 9%, trailing only the energy and materials sectors’ gains of nearly 12% and 10%, respectively. 

While the rotation out of tech has benefited those defensive sectors, so too have the year-to-date (YTD) performances of two of America’s largest retailers. 

Target (NYSE: TGT) and Walmart (NASDAQ: WMT) have posted YTD gains of nearly 11% and more than 13%, respectively. And with both corporations now under new leadership, arguments can be made in favor of both as investors hope consumer staples’ early success this year continues.   

Walmart Picks a Familiar Face to Succeed McMillon

On the back of a more than 24% gain in 2025, Walmart joined the $1 billion market cap club on Tuesday, Feb. 3—just three days into the tenure of newly appointed president and CEO John Furner. 

Furner, who took the reins on Feb. 1, is following in the footsteps of Doug McMillon, who served as Walmart’s fifth CEO for 12 years and began with the company as a summer stock associate in his first job as a 17-year-old in 1984. 

McMillon notably led Walmart through its digital transformation, making the company’s membership-based Walmart+ a leading competitor to Amazon (NASDAQ: AMZN) while maintaining its warehouse segment Sam’s Club as a leading competitor of Costco (NASDAQ: COST).

When the company reports its Q4 fiscal year 2026 (FY2026) earnings on Feb. 19, it will reflect the final quarter of McMillon’s run as CEO—a legacy that Furner will look to build upon, including 14 earnings and revenue beats in the past 16 quarters. 

Furner, who in 1993 also began working for Walmart as an hourly associate, will look to continue his predecessor’s track record of EPS growth, which stood at 44.08% and 26.18% the past two years. 

Perhaps the biggest challenge facing the new CEO will be maintaining Walmart’s unprecedented growth while successfully implementing AI. Until then, investors can look forward to a steadily increasing yield. The Dividend King has now increased its payout for 53 consecutive years, while maintaining a healthy payout ratio of less than 33% to go along with an annualized five-year dividend growth rate of 3.17%.  

Target’s New CEO Faces an Uphill Battle

Conversely, new Target CEO Michael Fiddelke—who previously served as the company’s COO—has a more challenging landscape to navigate after taking over on Feb. 1. 

The company’s previous CEO, Brian Cornell, stepped down after 14 years of service, the tail end of which was marked by a less-than-desirable financial performance stemming from declining consumer sentiment, a struggling grocery line that has seen shoppers prioritize competitors like Walmart and Costco, and a sustained slump in higher-margin discretionary goods amid ongoing inflation. 

The result has been shares losing more than 57% from their five-year high in August 2021, exacerbated by revenue losses in 2023 and 2024 and negative EPS in 2024. 

Target has missed earnings expectations in three of the past seven quarters, with revenue missing in five of those quarters. 

For patient investors who believe Target’s forward price-to-earnings ratio of 12.80 signals better performance ahead, the stock—a Dividend King like Walmart—yields 4.10% versus its peers’ 0.74%, along with an annualized five-year dividend growth rate of 11.30%. 

What Analysts Think of Walmart and Target

Given the stock’s recent success and consumer staples’ inelastic demand, analysts are bullish on WMT, with 32 of the 34 covering the stock assigning it a Buy rating. However, Walmart’s average 12-month price target of $123.93 suggests nearly 3% downside. 

On the other hand, the majority of the 34 analysts covering Target assign it a Hold rating to go along with an average 12-month price target of $103.21, or more than 7% potential downside.   

According to Target’s current short interest of 3.79% of the float, Wall Street’s bears foresee more downside risk than they do for Walmart, whose current short interest stands at just 0.50%.

However, one notable advantage for Target is that the smart money has piled into the stock, with institutional ownership of nearly 80% resulting in more than $12 billion in inflows over the past 12 months versus just shy of $7 billion in outflows. Walmart’s institutional ownership is notably lower at less than 27%, but inflows of more than $52 billion over the past 12 months are more than double the outflows of nearly $24 billion. 

Target scores higher than 87% of companies evaluated by MarketBeat, ranking 43rd out of 201 stocks in the retail/wholesale sector, while Walmart ranks 86th out of 201 and scores higher than 72%. 

But Walmart’s big edge comes via its TradeSmith financial health score, which has seen the company in the Green Zone for more than nine months, compared to Target, which has spent the majority of the past year in the Red Zone. 

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Uber in the Buy Zone: Can It Take Investors for a Ride They Like?

Uber (NYSE: UBER) stock retreated to the buy zone in early Q1 2026, and signs indicate it can take investors on a ride they’ll like. Boosted by recent earnings results, analyst trends, and institutional buying, this stock represents a profitably growing tech company relevant today and for the future.

Focused on ride-sharing and final-mile services, Uber’s future is tied to autonomous driving and the application of physical AI. Partnerships include NVIDIA (NASDAQ: NVDA) for infrastructure and platform support, as well as major AV developers such as Waymo and Aurora, which already have AVs in operations.

Uber Drives Away With Record Free Cash Flow in 2025

Uber’s Q4 earnings left something to be desired, with adjusted earnings per share (EPS) falling short of estimates; however, the results were strong overall. Revenue of $14.73 billion was up 20.2% compared to the prior year, sustaining its 20% growth pace for another quarter, and outperformed analyst consensus by a slim margin.

Growth was driven by an 18% increase in active users, compounded by a 3% increase in trips per user. Trips were up 22%, bookings were up 22%, and margins expanded. Mobility grew by 20% and Delivery saw a 26% gain, underpinning the longer-term outlook.

The earnings and profitability news was mixed. Adjusted earnings fell short of expectations, setting the stage for the post-release stock price drop despite significant year-over-year (YOY) improvement. That miss overshadowed what was otherwise a strong quarter, highlighted by expanding margins and record cash flow. 

Critical details included a 35% increase in adjusted EBITDA, a 46% increase in adjusted operating income, a 25% increase in net income, and a 65% increase in free cash flow (FCF), totaling $2.8 billion. 

Guidance was another sticking point for investors. Uber expects a typical seasonal step-down from Q4, but the 2026 guidance still implies roughly 19% growth versus the same quarter last year, with adjusted earnings of 68 cents.

The 68 cents was below consensus; however, that figure reflects wider margins and is likely cautious. Momentum in Q4 will likely carry into the current quarter and potentially strengthen as the yearprogresses. Recent news from Washington points to de-escalation in trade relations, moderating inflation, and accelerating global economic activity.

Free Cash Flow Drives Analysts and Institutional Interest

Revenue growth is central to the stock price outlook, but cash flow is more so. The company’s 2025 pivot to improving free cash flow enabled a robust repurchase plan that is reducing the count semi-aggressively. With the share count down about 1.5% on average for both the quarter and the year, that pace looks likely to continue in 2026, boosting per-share results.

Institutional interest affirms Uber’s potential for investors. The group owns more than 80% of UBER shares and bought on balance throughout 2025, providing a support base and tailwind for price action.

The trend has persisted in early Q1 2026, with activity accelerating to a $2 bought for each $1 sold, suggesting strong support at price points aligned with technical support and trend targets. 

Regarding the analysts, some moderated price targets emerged following the guidance update, but no significant change to the outlook was noted.

There is some concern about near-term margin pressure, but bookings, operational leadership, pricing power, and longer-term forecasts outweigh it.

The analyst consensus remains a Moderate Buy, sentiment is firming, and the consensus, up 20% in the last 12 months, forecasts a 40% upside and new all-time highs. 

Uber Points to Hard Bottom After Guidance Update

The price action in UBER stock isn’t bullish at first glance, with shares down a moderate single-digit amount, but a closer inspection reveals support at critical levels.

Both the daily and week-to-date candles show support with long lower wicks; the lower wick is notably longer on the daily chart than the upper one. This signal amounts to a market unsure of where it is going but reasonably sure that lower prices aren’t the right move. The market can rebound quickly in this scenario, but there is a risk of it breaking the trend and becoming range-bound until potent catalysts emerge.

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ENPH Stock Soars 50% on Earnings Beat—Is It a Data Center Play?

Enphase Energy (NASDAQ: ENPH) was up more than 50% in early trading on Feb. 4, the day after the company delivered its quarterly earnings for the fourth quarter. Enphase beat on the top and bottom lines, with adjusted earnings per share (EPS) coming in at 71 cents on revenue of $343.32 million. That beat expectations of 59 cents in EPS on revenue of $340.45 million.

That said, on a year-over-year (YOY) basis, revenue was down about 10%. Yet, investors are pushing the stock higher. They seem to agree with Enphase management’s optimism that the current quarter may mark a bottom for the company as tariff pressures continue to ease.

Supporting that outlook, management raised its first-quarter revenue forecast to a range of $270 million to $300 million. The prior forecast was for $250 million. Furthermore, chief executive officer (CEO) Badrinarayanan Kothandaraman announced that Enphase was nearly 90% booked to the midpoint of its revenue guidance.

At the high end of that forecast, revenue would be up approximately 13% YOY. However, if the company is correct in saying that next quarter represents the trough, then it’s easier to see why investors were enthusiastic after a mostly bullish report.

The Ace Up Enphase’s Sleeve

Investors are also paying attention to Enphase’s emerging role in using its distributed energy ecosystem to help free up grid capacity for power‑hungry data centers, an area management has highlighted as a growth opportunity.

On the earnings call, Kothandaraman explicitly tied Enphase’s long‑term R&D roadmap to the data‑center build‑out. He noted that hyperscale operators are moving toward 800‑volt DC architectures and said Enphase is evaluating next‑generation front‑end power‑conversion designs that can efficiently step medium‑voltage AC at 13.8 kV to 34.5 kV down to 800‑volt DC before power reaches AI racks.

While he stopped short of giving specific product timelines, management framed behind‑the‑meter resources and virtual power plants as a “critical evolution” of the business as data‑center demand threatens to overwhelm local grids. 

That commentary dovetails with recent remarks from Enphase’s marketing leadership, who see tech and data‑center developers subsidizing residential solar‑plus‑storage to unlock grid capacity in constrained markets. Third‑party analysis cited by the company suggests that this model could free up tens of gigawatts of effective capacity if large customers help fund distributed systems, potentially giving Enphase a new demand channel for its batteries, inverters, and emerging load‑management products.

For investors in the energy sector, this adds a longer‑duration AI and data‑center angle on top of the more traditional residential‑solar recovery thesis and helps explain why the market is willing to look through a 10% year‑over‑year revenue decline in the near term.

Beware of the Squeeze

Enphase delivered a strong report, and the stock was up about 16% for the year heading into the earnings report. That was a relief to any investor who held on through an ugly 2025.

But does it justify a 35% increase in the company’s stock price post earnings? It does if traders have to cover short positions. Short interest in ENPH stockis around 22% as of this writing. That’s not massive, but it’s significant and is certainly enough fuel to accelerate a post-earnings rally.

That said, ENPH stock is overbought after this sharp move higher. The Enphase analyst forecasts on MarketBeat show that several analysts have either upgraded ENPH stock or raised their price targets.

However, while most of the new targets are above the current consensus price of $44.53, they provide little to no upside from where the stock has bounced.

That means investors who are looking to get involved should wait for a pullback. That may happen in the next several days as some traders will look to take profits after this strong move higher.

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The Top 10 AI Stocks You Need to Know(From TradingTips)

Marathon Petroleum Company Is Ready to Sprint Higher

Written by Thomas Hughes on February 3, 2026 

What You Need to Know

• Marathon Petroleum Company is well-positioned to drive value in 2026 as margin strength and cash flow enable capital returns.
• Buybacks aggressively reduce the share count each quarter.
• Analysts and institutions support this market and point to record-high stock prices later this year.

Marathon Petroleum Company (NYSE: MPC) was poised to advance ahead of its Q4 earnings release, and the report triggered the move. Affirming the company’s strong position in petroleum refining and the strength of its capital return, the report catalyzed a trend-following signal with the potential to take this market to new highs. The dividend, as attractive as it is, isn’t the only driver, as share buybacks are part of the picture. 

A key factor for investors is Marathon Petroleum’s approximately 70% stake in subsidiary MPLX. MPLX is a midstream limited partnership whose business is to collect fees and pay dividends. The dividend is substantial, yielding 7.8% on its own, and is sufficient to more than cover MPC’s own substantial payment. 

Marathon’s dividend yield was approximately 2.25% as of early February. Alongside MPLX’s dividend income and Marathon’s healthy cash flow, that supports aggressive share buybacks, the primary driver of long-term price action.

MPC’s buybacks in Q1 and throughout 2025 reduced its average diluted share count by about 6.5% for the quarter and roughly 10% for the year, a pace likely to continue in 2026. Regarding the dividend, distribution increases are also expected. The company has increased payments for four consecutive years and has the capacity to continue the trend.

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Marathon’s Robust Q4 Underpins 2026 Outlook 

Marathon Petroleum had a solid Q4, with revenue falling only 0.1% year-over-year, outpacing consensus by 300 basis points (bps). The strength was driven by refining and marketing, as well as strong margins. 

Margins are the critical detail, as they were stronger than expected, producing leveraged strength in the bottom-line result.

The adjusted earnings came in at $4.06, or nearly 50% above the consensus forecast, with utilization and efficiency highlighting business quality. The company achieved 94% utilization and a 105% margin capture rate.

Guidance was also favorable. While no revenue or earnings estimates were given, the outlook for gasoline suggests margins will remain elevated, suggesting another strong year for MPC.

The company’s focus is on high-return capital projects, margin-enhancing efficiencies, and capital return. Projects include new capacity for transport, processing, and treatment in high-margin businesses. 

Marathon Analysts Point to Record Stock Price Highs

Marathon Petroleum’s analysts responded favorably to the news, highlighting the Q4 strength and potential for momentum to build in 2026. While no revisions were issued immediately after the report, the chatter aligns with trends of increasing analyst coverage, firming sentiment, and a rising price target. Consensus assumed a 10% upside ahead of the release, with the high-end pegged at $220, in line with record highs. 

Institutional activity aligns with the uptrend, suggesting downside risk is limited. The group owns nearly 90% of the stock and bought on balance in 2025. While selling outpaced buying in Q4 2025, the balance reverted to accumulation in early 2026, helping to put a market bottom in place following the Q4 2025 sell-off. The top three holders are fund managers Vanguard, BlackRock, and State Street Capital, which collectively own 30% of the stock. 

The post-release price action has been favorable. MPC price advanced following the release, extending a rebound that began in early 2026. The movement shows support at a pair of long-term EMAs, signaling a trend-following entry for investors.

The price is likely to trend higher, potentially reaching the $200 level by mid-2026 and record highs soon after. In the long term, fresh all-time highs seem inevitable due to institutional interest and share buybacks. The dwindling share count and improving equity leave no other option. 

Read this article online ›

Further Reading

• The Memory Supercycle Is Here—2 Winners From 1 Breakup
• These 3 Income Stocks Are Gaining Attention Fast (From StockEarnings)
• 2 REITs That Look Attractive in a Stable Rate Environment
• The biggest scam in the history of gold markets is unwinding (From Behind the Markets)
• Why NXP Semiconductors’ Post-Earnings Dip Could Be a Buying Window
• Amphenol Stock Dropped 17% After Earnings: Opportunity or Trap?
• AMD’s Post-Earnings Dip Looks Like the Buying Window Bulls Wanted

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Then Jacob called his sons, and said, “Gather yourselves together, that I may tell you what shall befall you in days to come. Assemble and hear, O sons of Jacob, and hearken to Israel your father. Reuben, you are my first-born, my might, and the first fruits of my strength, pre-eminent in pride and pre-eminent in power. Unstable as water, you shall not have pre-eminence because you went up to your father’s bed; then you defiled it — you went up to my couch! Simeon and Levi are brothers; weapons of…

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Evening Bible ReadingGENESIS 49:1-28

Then Jacob called his sons, and said, “Gather yourselves together, that I may tell you what shall befall you in days to come. Assemble and hear, O sons of Jacob, and hearken to Israel your father. Reuben, you are my first-born, my might, and the first fruits of my strength, pre-eminent in pride and pre-eminent in power. Unstable as water, you shall not have pre-eminence because you went up to your father’s bed; then you defiled it — you went up to my couch! Simeon and Levi are brothers; weapons of…

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Hello TempeHere’s what’s happening in and around Tempe coming up.

Scottsdale Camp Fair 2026

Feb

22

12:00 noonScottsdale, AZCome join us at the Scottsdale Camp Fair! This community event is absolutely FREE to attend and connects members of your…Get Seen First…Feature your event and appear up top.

Feb 07

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My perfect (lucky) timing… Why I sat on my hands… The first rule of trading… Andy Swan’s six rules… My long-term take on silver… Cautious and bullish at the same time…

The timing was uncanny…

In last Thursday’s Digest, I (Dan Ferris) warned you about silver.

At the time, silver was up more than 55% since January 1 and more than 250% over the past year.

I wrote that holding big gains in an asset like silver is a good problem to have – but it is a problem that must be dealt with properly.

The very next day, silver was absolutely bludgeoned. It fell nearly 32% by Friday’s close, according to data compiled by Bloomberg. The widely owned iShares Silver Trust (SLV), which I hold in The Ferris Report‘s model portfolio, traded as much as 38% below the previous day’s high.

What did I do about it?

Nothing.

The reason is simple. I decided under what circumstances I’d exit before I ever recommended SLV to my subscribers in December 2022. Specifically, I imposed a 35% trailing stop, based on closing prices.

SLV closed Friday at $75.44, nearly 29% below Thursday’s close of $105.57. It fell again on Monday, closing at $72.44 – 31% below Thursday’s close.

That’s a big, fast drop. But it’s not 35%.

SLV shares bounced off their low earlier this week. Then, as I write on Thursday afternoon, they’re down double digits for the day… and once again flirting with a 35% drop from their highs.

But until the market closes, it doesn’t make a difference. And if shares do trip my stop, then that’s when I’ll tell my Ferris Report subscribers to sell – not before. We’d still be looking at a gain of more than 200%.

It’s difficult for most folks to watch as much as 38% of a position’s value disappear in a matter of hours without selling in a panic… But that’s how trading works.

I emphasized last week that there’s no such system or skill of calling the top on every trade (or any trade).

My warning on silver came right at the top. But that was pure luck.

If I’d told subscribers to sell at the top, that would have also been lucky.

But much more likely, I wouldn’t have been so lucky. And subscribers would have missed out on gains.

Being lucky is great… but it’s not an investing or trading strategy.

Very early in my investing career, I was particularly unlucky…

About 35 years ago, I put $2,000 into a commodity-futures trading account. In my mind, I was investing. In reality, I was gambling.

Between the lethal combination of confidence, ignorance, and $100 commissions on each completed trade, I’d drained my account down to $268 in about six months.

A few years later, I bought a gold-stock mutual fund when gold had fallen to around the $330s or so. Then I held it through a nice (and very brief) rally back above $400. The mutual fund doubled, I sold (luckily, within a penny of the top), and felt I’d learned something about trading risky situations.

Though I made other mistakes, I eventually figured out something that all the best traders will tell you…

The first rule of successful trading is sheer survival. Don’t blow up your account.

Everybody wants to get rich, and that is a wonderful goal. But counterintuitive as it seems, you will get rich in financial markets a lot faster if you focus on minimizing losses and controlling risk rather than maximizing gains.

As a published investment analyst, I will absolutely die on this hill. No matter what anybody tells me I need to say to get folks interested in what I write, my readers will always get a heaping helping of the inviolable primacy of recognizing, understanding, and controlling risk.

You can make other mistakes and still get rich. But if you accumulate wealth and blow up your account, you’ll have to get rich all over again…

I blew myself up when I was young and had little money. That was lucky, because I had plenty of time to learn my lesson, accumulate more capital, and learn how not to blow myself up.

If you screw this up late enough in life, that’s a hopeless prospect. You’re out of time.

The primacy of capital preservation comes up often when we interview traders on the Stansberry Investor Hour podcast, including in two of the last three interviews we’ve done for upcoming episodes.

We most recently interviewed Andy Swan from LikeFolio – an innovative, effective approach for trading stocks based on data most investors don’t even know exists.

When we spoke with him, Andy said nobody wants to read an article about not blowing up their account. But it’s a lesson so important that, if you don’t learn it and honor it, you’ll never, ever get rich in the financial markets.

Like me, Andy had the good fortune to learn that lesson early. He started trading stocks in college during the dot-com boom. He says he made and lost about $30,000. It taught him that he needed to learn how to hang onto his gains and cut his losers… as do we all, no matter what investment style or strategy you use.

Andy lists six trading rules on his website. Only one addresses entering trades. Two address risk limits and two when to exit. Here’s his full list…

1. Have a data-backed thesis
2. Determine in advance what will prove your thesis wrong
3. Position small enough to fly blind
4. Define your maximum risk in advance
5. Automate your profit taking
6. Do something else for a while

The final rule is essentially telling you that, once you’ve followed the other five rules, you should chill out and let them do their job.

It’s like what I said above about our silver position in The Ferris Report. I set a trailing stop. It wasn’t hit. So I didn’t have to do anything.

Notice Rule No. 5: Automate your profit taking.

Last week, we addressed a time-honored solution for that: selling half of the position when it doubles. That’s just one possible technique. And if you’re currently doing nothing to protect your gains on a trade, it’s an easy one to implement.

Turning back to silver… what should you do next?…

That’s up to you. But if you’re holding a silver investment that hasn’t hit your stop… why do anything?

I know at least one famous trader who thinks last Friday’s crash was just the silver market’s way of shaking out the weakest hands on its way to $200 an ounce. (Depending on the source you use, the all-time high was about $120 per ounce last month.)

I have no view on that, but I will say this: I have a lot of experience with markets, and a lot of data to back me up. And you won’t find many cases of a market going straight up once, then straight down once, and then it’s all over.

Yes, I did say last week that ballistic price movements like silver’s recent run don’t resolve by going sideways. They plummet. Sure enough, silver plummeted last Friday.

And I can’t help noticing that silver’s recent run bears a striking resemblance to its move from 1971 to 1980…

After the 1980 peak, it took silver 13 years to find its next bottom.

Will it go into a 13-year bear market this time? I won’t pretend to know. Nor will I listen to anyone who does pretend to know.

All you can do is plan your trade and trade your plan. Last Friday was a gut punch, but my stop told me this trade was still working.

That’s all I know. And it’s all I need to know.

And if today’s price action stops me out, or tomorrow’s, or another wacky day next month? I’d look for a good moment to reenter.

I have a fundamental view of silver which makes me bullish over the longer term, even despite Friday’s big crash…

To explain why, let’s look at the three most important fundamentals for silver.

1. The historical gold/silver ratio
2. Its history as a monetary metal
3. Its status as mostly a byproduct of other metals like gold and copper

The gold/silver ratio is the price of gold divided by the price of silver…

It tells you how many ounces of silver it takes to buy an ounce of gold. Since 1975, the ratio has spent most of its time between 40 and 100, with an average of about 68. The higher it gets, the cheaper silver is compared with gold. By the chart alone, it was a screaming buy in March 2020.

It’s notable that the ratio got a boost up above 100 last April, mostly because gold went up. As long as gold’s bull market is intact – and it is – then any rise toward 100 seems a reasonable time to buy silver.

I also watch for whether the ratio is at a high or low relative to its most recent price cycle.

Over the long term, silver’s recent ballistic price action has pushed the ratio toward a cyclical low. It bottomed out (so far) at 46 on January 29 – the day before the recent crash – and is in the high 50s as of yesterday’s close.

Silver tends to rise and fall with gold, but later and a lot faster. That’s why we see such sharp spikes in the chart.

Gold is also in a slump this week. On Monday, it closed 14% off its high from the previous Thursday. But that’s only about half of silver’s 31% drop during the same time.

As long as the gold bull market is intact, the silver bull should follow – volatile as ever, of course. Given gold’s proximity to recent highs, I have to conclude that both the gold and silver bull markets are still intact.

Next comes silver’s history as a monetary metal…

Silver has been used as money for thousands of years (as long as gold), starting in ancient Egypt and Mesopotamia.

Around the middle of the first millennium, Charlemagne created a standardized monetary system based on a consistent weight for a silver denier (penny). A pound of silver was divisible into 20 shillings and each shilling into 12 pennies. It revolutionized European commerce and lasted for up to a thousand years. The British currency is still called the pound today.

Silver’s decline as a widely circulated currency began in the late 1800s. Gold’s higher value made it more efficient, and discoveries of new gold supplies made it a more viable currency.

But U.S. currency redeemable in silver continued to circulate until the middle of the 20th century.

Silver has spent a lot more of its history as money than not. Like gold, there is no reason to believe it couldn’t come into common use as a currency backing again. And I’m willing to bet many of the folks reading this Digest use both gold and silver as a form of savings and a long-term store of value.

That will create steady demand for existing metals investors – and potentially explosive new investment demand in times of crisis.

The third important fundamental is supply…

According to the Silver Institute, silver has been in a supply deficit for five straight years. That means demand has been higher than new supply from mines and recycling. Numbers aren’t in yet, but the institute estimates that the 2025 supply was 1.022 billion ounces versus demand of 1.117 billion ounces.

The cumulative deficit of the last five years comes to around 820 million ounces. That’s often more silver than gets mined, worldwide, in an entire year.

Here’s the big reason that silver supply is slow to keep up with demand: Primary silver mines – where silver is the main product – make up just 30% of global silver production. So most of the world’s silver supply is mined by folks who were looking for something else. It’s a byproduct of other metals… copper, lead, zinc, and gold.

When gold prices soar, new gold mines come online to take advantage. But rising silver prices aren’t going to push the development of a new copper mine.

Base-metal inventories peaked in 2013 and have fallen as much as 90% since.

No wonder that in 2022, mining mogul Robert Friedland said that by 2030, the world will need eight new copper mines the size of his massive Kamoa-Kukula project in the Democratic Republic of Congo.

Soon after, Chile’s Codelco (the world’s largest copper miner) estimated the world would need eight new mines the size of the nation’s Escondida mine – the largest copper mine in the world – over the next eight years.

Those mines don’t yet exist.

And it’s really hard to bring new mine supply on line these days for various reasons. For example, global copper-mining projects equivalent to roughly 25% of the world’s copper production are currently blocked by environmental concerns.

I could go through the same exercise for lead and zinc.

A falling base metal supply means a tighter silver supply – exactly what the Silver Institute has been reporting for the last five years.

So silver’s fundamentals are solid, even if the prices are volatile.

Nobody ever went broke letting winners run, systematically taking profits, and cutting losses where appropriate…

My message might seem contradictory: cautious and bullish at the same time.

But look closer…

My caution is solely based on the fact that human nature left unchecked is ill-suited to trading highly volatile markets. And I’m long-term bullish on silver based on its most important fundamentals.

So you see, they’re two very different things… which both need to be discussed right now.

In short, making a fortune on silver and silver mining stocks is doable. They’ve both moved a lot already. The drop looks alarming, and I’ll follow my stops if it gets too big.

But over the long term, silver’s fundamentals are solidly bullish.

In this week’s Stansberry Investor Hour, Josh Young from Bison Interests joins me and Digest editor Corey McLaughlin to talk about oil and gas investing, including how to find winners amid growing geopolitical risks…

Click here to watch the episode on our YouTube page… or listen on our website or wherever you listen to podcasts, like Apple Podcasts, Spotify, or Audible. Just search “Stansberry Investor Hour” and subscribe to get more episodes when they go live.

Recommended Links:

Breaking: Potential to 6X the Stock Market

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Why Do Oil Companies LOVE This New ‘Woke’ Energy?

Here’s a shocking turn – Big Oil is lining up behind a new kind of clean energy in a BIG way. And they’re not doing it just to pander to environmentalists. Thanks to a breakthrough discovery, it turns out this new energy source is virtually limitless… It’s found right here in America, beneath our feet… And the oil companies are in a perfect position to extract it. We launched a 2,125-mile scouting mission to get the details. Get the full story here – you won’t hear this anywhere else, but I believe this could make some people obscenely rich.

 New 52-week highs (as of 2/4/26): Arch Capital (ACGL), Amgen (AMGN), Atmus Filtration Technologies (ATMU), Alpha Architect 1-3 Month Box Fund (BOXX), BP (BP), Brady (BRC), CME Group (CME), Pacer U.S. Cash Cows 100 Fund (COWZ), Coterra Energy (CTRA), Chevron (CVX), Donaldson (DCI), WisdomTree Japan SmallCap Dividend Fund (DFJ), DXP Enterprises (DXPE), Western Asset Emerging Markets Debt Fund (EMD), Enel (ENLAY), Enterprise Products Partners (EPD), iShares MSCI Italy Fund (EWI), Expeditors International of Washington (EXPD), Franklin FTSE Japan Fund (FLJP), Cambria Foreign Shareholder Yield Fund (FYLD), Gilead Sciences (GILD), W.W. Grainger (GWW), Hawaiian Electric Industries (HE), Helmerich & Payne (HP), Hershey (HSY), Coca-Cola (KO), Lincoln Electric (LECO), Lumentum (LITE), McDonald’s (MCD), Magnolia Oil & Gas (MGY), Merck (MRK), Nucor (NUE), Novartis (NVS), Realty Income (O), Pembina Pipeline (PBA), PepsiCo (PEP), Invesco High Yield Equity Dividend Achievers Fund (PEY), Packaging Corporation of America (PKG), Invesco Oil & Gas Services Fund (PXJ), Ryder System (R), Roche (RHHBY), RenaissanceRe (RNR), Invesco S&P 500 Equal Weight Consumer Staples Fund (RSPS), SandRidge Energy (SD), Snap-on (SNA), State Street SPDR Portfolio S&P 500 Value Fund (SPYV), Travelers (TRV), Tenaris (TS), Valaris (VAL), Vale (VALE), Valero Energy (VLO), State Street Energy Select Sector SPDR Fund (XLE), State Street Industrial Select Sector SPDR Fund (XLI), State Street Consumer Staples Select Sector SPDR Fund (XLP), and ExxonMobil (XOM).

In yesterday’s mailbag , a Stansberry Alliance member shared his take on silver and why it felt good taking profits recently. Today, another subscriber shares how he preferred to handle the silver trade… Do you have a comment or question? As always, e-mail us at feedback@stansberryresearch.com.

“I’m glad Earl H. liquidated or sold his silver and used it to pay off his medical bills… I, on the other hand, gleefully rode the ride up in silver price in both physical metal and mining stocks and did not sell. I believe both physical metals and mining stocks have a long way to go up before they fall. I am using the recent price drop to add to my stock…” – Subscriber Mark M.

Good investing,

Dan Ferris
Medford, Oregon
February 5, 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
Microsoft11/11/101,371.3%Retirement MillionaireMSFT
Microsoft02/10/121,334.2%Stansberry’s Investment AdvisoryADP
Automatic Data Processing10/09/08888.0%Extreme ValueBRK.B
Berkshire Hathaway04/01/09793.2%Retirement MillionaireGOOGL
Alphabet12/15/16720.4%Retirement MillionaireWRB
W.R. Berkley03/15/12651.0%Stansberry’s Investment AdvisoryALS-T
Altius Minerals03/26/09563.8%Extreme ValueSII
Sprott01/11/18543.6%Extreme ValueHSY
Hershey12/07/07528.9%Stansberry’s Investment AdvisoryCIEN
Ciena10/20/22504.9%Stansberry Innovations Report

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 MillionaireDoc3Stansberry’s Investment AdvisoryPorter1Stansberry Innovations ReportEngel

Top 5 Crypto Capital Open Recommendations

Top 5 highest-returning open positions in the Crypto Capital model portfolioInvestmentBuy DateReturnPublicationBTC/USD
Bitcoin11/27/181,846.9%Crypto CapitalWSTETH/USD
Wrapped Staked Ethereum12/07/181,768.2%Crypto CapitalONE/USD
Harmony12/16/191,016.4%Crypto CapitalQRL/USD
Quantum Resistant Ledger01/19/21862.4%Crypto CapitalPOL/USD
Polygon02/26/21645.7%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.

Stansberry Research Hall of Fame

Top 10 all-time, highest-returning closed positions across all Stansberry portfoliosInvestmentDurationGainPublicationNvidia (NVDA)^*5.96 years1,466%Venture Tech.Microsoft (MSFT)^12.74 years1,185%Retirement MillionaireInovio Pharma. (INO)^1.01 years1,139%Venture Tech.Rocket Lab (RKLB)^2.35 years1,034%Venture Tech.Seabridge Gold (SA)^4.20 years995%Sjug Conf.Berkshire Hathaway (BRK-B)^16.13 years800%Retirement MillionaireIntellia Therapeutics (NTLA)1.95 years775%Amer. MoonshotsRite Aid 8.5% bond4.97 years773%True IncomePNC Warrants (PNC-WS)6.16 years706%True Wealth SystemsMaxar Technologies (MAXR)^1.90 years691%Venture Tech.

^ 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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My perfect (lucky) timing… Why I sat on my hands… The first rule of trading… Andy Swan’s six rules… My long-term take on silver… Cautious and bullish at the same time…

The timing was uncanny…

In last Thursday’s Digest, I (Dan Ferris) warned you about silver.

At the time, silver was up more than 55% since January 1 and more than 250% over the past year.

I wrote that holding big gains in an asset like silver is a good problem to have – but it is a problem that must be dealt with properly.

The very next day, silver was absolutely bludgeoned. It fell nearly 32% by Friday’s close, according to data compiled by Bloomberg. The widely owned iShares Silver Trust (SLV), which I hold in The Ferris Report‘s model portfolio, traded as much as 38% below the previous day’s high.

What did I do about it?

Nothing.

The reason is simple. I decided under what circumstances I’d exit before I ever recommended SLV to my subscribers in December 2022. Specifically, I imposed a 35% trailing stop, based on closing prices.

SLV closed Friday at $75.44, nearly 29% below Thursday’s close of $105.57. It fell again on Monday, closing at $72.44 – 31% below Thursday’s close.

That’s a big, fast drop. But it’s not 35%.

SLV shares bounced off their low earlier this week. Then, as I write on Thursday afternoon, they’re down double digits for the day… and once again flirting with a 35% drop from their highs.

But until the market closes, it doesn’t make a difference. And if shares do trip my stop, then that’s when I’ll tell my Ferris Report subscribers to sell – not before. We’d still be looking at a gain of more than 200%.

It’s difficult for most folks to watch as much as 38% of a position’s value disappear in a matter of hours without selling in a panic… But that’s how trading works.

I emphasized last week that there’s no such system or skill of calling the top on every trade (or any trade).

My warning on silver came right at the top. But that was pure luck.

If I’d told subscribers to sell at the top, that would have also been lucky.

But much more likely, I wouldn’t have been so lucky. And subscribers would have missed out on gains.

Being lucky is great… but it’s not an investing or trading strategy.

Very early in my investing career, I was particularly unlucky…

About 35 years ago, I put $2,000 into a commodity-futures trading account. In my mind, I was investing. In reality, I was gambling.

Between the lethal combination of confidence, ignorance, and $100 commissions on each completed trade, I’d drained my account down to $268 in about six months.

A few years later, I bought a gold-stock mutual fund when gold had fallen to around the $330s or so. Then I held it through a nice (and very brief) rally back above $400. The mutual fund doubled, I sold (luckily, within a penny of the top), and felt I’d learned something about trading risky situations.

Though I made other mistakes, I eventually figured out something that all the best traders will tell you…

The first rule of successful trading is sheer survival. Don’t blow up your account.

Everybody wants to get rich, and that is a wonderful goal. But counterintuitive as it seems, you will get rich in financial markets a lot faster if you focus on minimizing losses and controlling risk rather than maximizing gains.

As a published investment analyst, I will absolutely die on this hill. No matter what anybody tells me I need to say to get folks interested in what I write, my readers will always get a heaping helping of the inviolable primacy of recognizing, understanding, and controlling risk.

You can make other mistakes and still get rich. But if you accumulate wealth and blow up your account, you’ll have to get rich all over again…

I blew myself up when I was young and had little money. That was lucky, because I had plenty of time to learn my lesson, accumulate more capital, and learn how not to blow myself up.

If you screw this up late enough in life, that’s a hopeless prospect. You’re out of time.

The primacy of capital preservation comes up often when we interview traders on the Stansberry Investor Hour podcast, including in two of the last three interviews we’ve done for upcoming episodes.

We most recently interviewed Andy Swan from LikeFolio – an innovative, effective approach for trading stocks based on data most investors don’t even know exists.

When we spoke with him, Andy said nobody wants to read an article about not blowing up their account. But it’s a lesson so important that, if you don’t learn it and honor it, you’ll never, ever get rich in the financial markets.

Like me, Andy had the good fortune to learn that lesson early. He started trading stocks in college during the dot-com boom. He says he made and lost about $30,000. It taught him that he needed to learn how to hang onto his gains and cut his losers… as do we all, no matter what investment style or strategy you use.

Andy lists six trading rules on his website. Only one addresses entering trades. Two address risk limits and two when to exit. Here’s his full list…

1. Have a data-backed thesis
2. Determine in advance what will prove your thesis wrong
3. Position small enough to fly blind
4. Define your maximum risk in advance
5. Automate your profit taking
6. Do something else for a while

The final rule is essentially telling you that, once you’ve followed the other five rules, you should chill out and let them do their job.

It’s like what I said above about our silver position in The Ferris Report. I set a trailing stop. It wasn’t hit. So I didn’t have to do anything.

Notice Rule No. 5: Automate your profit taking.

Last week, we addressed a time-honored solution for that: selling half of the position when it doubles. That’s just one possible technique. And if you’re currently doing nothing to protect your gains on a trade, it’s an easy one to implement.

Turning back to silver… what should you do next?…

That’s up to you. But if you’re holding a silver investment that hasn’t hit your stop… why do anything?

I know at least one famous trader who thinks last Friday’s crash was just the silver market’s way of shaking out the weakest hands on its way to $200 an ounce. (Depending on the source you use, the all-time high was about $120 per ounce last month.)

I have no view on that, but I will say this: I have a lot of experience with markets, and a lot of data to back me up. And you won’t find many cases of a market going straight up once, then straight down once, and then it’s all over.

Yes, I did say last week that ballistic price movements like silver’s recent run don’t resolve by going sideways. They plummet. Sure enough, silver plummeted last Friday.

And I can’t help noticing that silver’s recent run bears a striking resemblance to its move from 1971 to 1980…

After the 1980 peak, it took silver 13 years to find its next bottom.

Will it go into a 13-year bear market this time? I won’t pretend to know. Nor will I listen to anyone who does pretend to know.

All you can do is plan your trade and trade your plan. Last Friday was a gut punch, but my stop told me this trade was still working.

That’s all I know. And it’s all I need to know.

And if today’s price action stops me out, or tomorrow’s, or another wacky day next month? I’d look for a good moment to reenter.

I have a fundamental view of silver which makes me bullish over the longer term, even despite Friday’s big crash…

To explain why, let’s look at the three most important fundamentals for silver.

1. The historical gold/silver ratio
2. Its history as a monetary metal
3. Its status as mostly a byproduct of other metals like gold and copper

The gold/silver ratio is the price of gold divided by the price of silver…

It tells you how many ounces of silver it takes to buy an ounce of gold. Since 1975, the ratio has spent most of its time between 40 and 100, with an average of about 68. The higher it gets, the cheaper silver is compared with gold. By the chart alone, it was a screaming buy in March 2020.

It’s notable that the ratio got a boost up above 100 last April, mostly because gold went up. As long as gold’s bull market is intact – and it is – then any rise toward 100 seems a reasonable time to buy silver.

I also watch for whether the ratio is at a high or low relative to its most recent price cycle.

Over the long term, silver’s recent ballistic price action has pushed the ratio toward a cyclical low. It bottomed out (so far) at 46 on January 29 – the day before the recent crash – and is in the high 50s as of yesterday’s close.

Silver tends to rise and fall with gold, but later and a lot faster. That’s why we see such sharp spikes in the chart.

Gold is also in a slump this week. On Monday, it closed 14% off its high from the previous Thursday. But that’s only about half of silver’s 31% drop during the same time.

As long as the gold bull market is intact, the silver bull should follow – volatile as ever, of course. Given gold’s proximity to recent highs, I have to conclude that both the gold and silver bull markets are still intact.

Next comes silver’s history as a monetary metal…

Silver has been used as money for thousands of years (as long as gold), starting in ancient Egypt and Mesopotamia.

Around the middle of the first millennium, Charlemagne created a standardized monetary system based on a consistent weight for a silver denier (penny). A pound of silver was divisible into 20 shillings and each shilling into 12 pennies. It revolutionized European commerce and lasted for up to a thousand years. The British currency is still called the pound today.

Silver’s decline as a widely circulated currency began in the late 1800s. Gold’s higher value made it more efficient, and discoveries of new gold supplies made it a more viable currency.

But U.S. currency redeemable in silver continued to circulate until the middle of the 20th century.

Silver has spent a lot more of its history as money than not. Like gold, there is no reason to believe it couldn’t come into common use as a currency backing again. And I’m willing to bet many of the folks reading this Digest use both gold and silver as a form of savings and a long-term store of value.

That will create steady demand for existing metals investors – and potentially explosive new investment demand in times of crisis.

The third important fundamental is supply…

According to the Silver Institute, silver has been in a supply deficit for five straight years. That means demand has been higher than new supply from mines and recycling. Numbers aren’t in yet, but the institute estimates that the 2025 supply was 1.022 billion ounces versus demand of 1.117 billion ounces.

The cumulative deficit of the last five years comes to around 820 million ounces. That’s often more silver than gets mined, worldwide, in an entire year.

Here’s the big reason that silver supply is slow to keep up with demand: Primary silver mines – where silver is the main product – make up just 30% of global silver production. So most of the world’s silver supply is mined by folks who were looking for something else. It’s a byproduct of other metals… copper, lead, zinc, and gold.

When gold prices soar, new gold mines come online to take advantage. But rising silver prices aren’t going to push the development of a new copper mine.

Base-metal inventories peaked in 2013 and have fallen as much as 90% since.

No wonder that in 2022, mining mogul Robert Friedland said that by 2030, the world will need eight new copper mines the size of his massive Kamoa-Kukula project in the Democratic Republic of Congo.

Soon after, Chile’s Codelco (the world’s largest copper miner) estimated the world would need eight new mines the size of the nation’s Escondida mine – the largest copper mine in the world – over the next eight years.

Those mines don’t yet exist.

And it’s really hard to bring new mine supply on line these days for various reasons. For example, global copper-mining projects equivalent to roughly 25% of the world’s copper production are currently blocked by environmental concerns.

I could go through the same exercise for lead and zinc.

A falling base metal supply means a tighter silver supply – exactly what the Silver Institute has been reporting for the last five years.

So silver’s fundamentals are solid, even if the prices are volatile.

Nobody ever went broke letting winners run, systematically taking profits, and cutting losses where appropriate…

My message might seem contradictory: cautious and bullish at the same time.

But look closer…

My caution is solely based on the fact that human nature left unchecked is ill-suited to trading highly volatile markets. And I’m long-term bullish on silver based on its most important fundamentals.

So you see, they’re two very different things… which both need to be discussed right now.

In short, making a fortune on silver and silver mining stocks is doable. They’ve both moved a lot already. The drop looks alarming, and I’ll follow my stops if it gets too big.

But over the long term, silver’s fundamentals are solidly bullish.

In this week’s Stansberry Investor Hour, Josh Young from Bison Interests joins me and Digest editor Corey McLaughlin to talk about oil and gas investing, including how to find winners amid growing geopolitical risks…

Click here to watch the episode on our YouTube page… or listen on our website or wherever you listen to podcasts, like Apple Podcasts, Spotify, or Audible. Just search “Stansberry Investor Hour” and subscribe to get more episodes when they go live.

Recommended Links:

Breaking: Potential to 6X the Stock Market

Two world-class analysts from our corporate affiliate Altimetry say it’s the single best opportunity they’ve seen in decades – a chance to 6X nearly every stock in the markets… with the risk profile of buying U.S. Treasurys. But it will disappear quickly. Find the details here.

Why Do Oil Companies LOVE This New ‘Woke’ Energy?

Here’s a shocking turn – Big Oil is lining up behind a new kind of clean energy in a BIG way. And they’re not doing it just to pander to environmentalists. Thanks to a breakthrough discovery, it turns out this new energy source is virtually limitless… It’s found right here in America, beneath our feet… And the oil companies are in a perfect position to extract it. We launched a 2,125-mile scouting mission to get the details. Get the full story here – you won’t hear this anywhere else, but I believe this could make some people obscenely rich.

 New 52-week highs (as of 2/4/26): Arch Capital (ACGL), Amgen (AMGN), Atmus Filtration Technologies (ATMU), Alpha Architect 1-3 Month Box Fund (BOXX), BP (BP), Brady (BRC), CME Group (CME), Pacer U.S. Cash Cows 100 Fund (COWZ), Coterra Energy (CTRA), Chevron (CVX), Donaldson (DCI), WisdomTree Japan SmallCap Dividend Fund (DFJ), DXP Enterprises (DXPE), Western Asset Emerging Markets Debt Fund (EMD), Enel (ENLAY), Enterprise Products Partners (EPD), iShares MSCI Italy Fund (EWI), Expeditors International of Washington (EXPD), Franklin FTSE Japan Fund (FLJP), Cambria Foreign Shareholder Yield Fund (FYLD), Gilead Sciences (GILD), W.W. Grainger (GWW), Hawaiian Electric Industries (HE), Helmerich & Payne (HP), Hershey (HSY), Coca-Cola (KO), Lincoln Electric (LECO), Lumentum (LITE), McDonald’s (MCD), Magnolia Oil & Gas (MGY), Merck (MRK), Nucor (NUE), Novartis (NVS), Realty Income (O), Pembina Pipeline (PBA), PepsiCo (PEP), Invesco High Yield Equity Dividend Achievers Fund (PEY), Packaging Corporation of America (PKG), Invesco Oil & Gas Services Fund (PXJ), Ryder System (R), Roche (RHHBY), RenaissanceRe (RNR), Invesco S&P 500 Equal Weight Consumer Staples Fund (RSPS), SandRidge Energy (SD), Snap-on (SNA), State Street SPDR Portfolio S&P 500 Value Fund (SPYV), Travelers (TRV), Tenaris (TS), Valaris (VAL), Vale (VALE), Valero Energy (VLO), State Street Energy Select Sector SPDR Fund (XLE), State Street Industrial Select Sector SPDR Fund (XLI), State Street Consumer Staples Select Sector SPDR Fund (XLP), and ExxonMobil (XOM).

In yesterday’s mailbag , a Stansberry Alliance member shared his take on silver and why it felt good taking profits recently. Today, another subscriber shares how he preferred to handle the silver trade… Do you have a comment or question? As always, e-mail us at feedback@stansberryresearch.com.

“I’m glad Earl H. liquidated or sold his silver and used it to pay off his medical bills… I, on the other hand, gleefully rode the ride up in silver price in both physical metal and mining stocks and did not sell. I believe both physical metals and mining stocks have a long way to go up before they fall. I am using the recent price drop to add to my stock…” – Subscriber Mark M.

Good investing,

Dan Ferris
Medford, Oregon
February 5, 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
Microsoft11/11/101,371.3%Retirement MillionaireMSFT
Microsoft02/10/121,334.2%Stansberry’s Investment AdvisoryADP
Automatic Data Processing10/09/08888.0%Extreme ValueBRK.B
Berkshire Hathaway04/01/09793.2%Retirement MillionaireGOOGL
Alphabet12/15/16720.4%Retirement MillionaireWRB
W.R. Berkley03/15/12651.0%Stansberry’s Investment AdvisoryALS-T
Altius Minerals03/26/09563.8%Extreme ValueSII
Sprott01/11/18543.6%Extreme ValueHSY
Hershey12/07/07528.9%Stansberry’s Investment AdvisoryCIEN
Ciena10/20/22504.9%Stansberry Innovations Report

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 MillionaireDoc3Stansberry’s Investment AdvisoryPorter1Stansberry Innovations ReportEngel

Top 5 Crypto Capital Open Recommendations

Top 5 highest-returning open positions in the Crypto Capital model portfolioInvestmentBuy DateReturnPublicationBTC/USD
Bitcoin11/27/181,846.9%Crypto CapitalWSTETH/USD
Wrapped Staked Ethereum12/07/181,768.2%Crypto CapitalONE/USD
Harmony12/16/191,016.4%Crypto CapitalQRL/USD
Quantum Resistant Ledger01/19/21862.4%Crypto CapitalPOL/USD
Polygon02/26/21645.7%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.

Stansberry Research Hall of Fame

Top 10 all-time, highest-returning closed positions across all Stansberry portfoliosInvestmentDurationGainPublicationNvidia (NVDA)^*5.96 years1,466%Venture Tech.Microsoft (MSFT)^12.74 years1,185%Retirement MillionaireInovio Pharma. (INO)^1.01 years1,139%Venture Tech.Rocket Lab (RKLB)^2.35 years1,034%Venture Tech.Seabridge Gold (SA)^4.20 years995%Sjug Conf.Berkshire Hathaway (BRK-B)^16.13 years800%Retirement MillionaireIntellia Therapeutics (NTLA)1.95 years775%Amer. MoonshotsRite Aid 8.5% bond4.97 years773%True IncomePNC Warrants (PNC-WS)6.16 years706%True Wealth SystemsMaxar Technologies (MAXR)^1.90 years691%Venture Tech.

^ 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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© 2026 Stansberry Research. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Stansberry Research, 1125 N Charles St, Baltimore, MD 21201 or stansberryresearch.com.

Any brokers mentioned constitute a partial list of available brokers and is for your information only. Stansberry Research does not recommend or endorse any brokers, dealers, or investment advisors.

Stansberry Research forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Stansberry Research (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation.

This work is based on SEC filings, current events, interviews, corporate press releases, and what we’ve learned as financial journalists. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility.

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