Bob Moriarty’s Idiot-Proof Guide to Investing in Resource Stocks

I recently read my well respected friend’s Bob Moriarty of 321gold.com new book ‘Basic Investing in Resource Stocks – The Idiot’s Guide’.

After reading the first two paragraphs of the introduction, I knew this was going to be a fun read in true Moriarty style.  He makes it clear that the reference to Idiot refers not to his readers, but to himself.  Okay, then.  Seeing that someone can poke fun at himself immediately puts the human in one of the most inhumane industries – the whirlwind tornado of investing.

I called Toto and told him that he was about to learn how to see our way clear through the black clouds of uncertainty, whether we stayed in Kansas or not.

The book starts with a look at some of the financial circumstances in the U.S. – a man made mess of the finest making that makes the Wicked Witch of the West, at times, seem like nothing more than an innocent misguided soul but of course, as when the shenanigans of the elected noteworthy running our world come to light, the dark side is revealed.

Moriarty then delves into the astronomical total world debt of $250 trillion. If that doesn’t make you choke on your coffee, there’s more.  He continues to expound on this frightening fact leading the reader through a series of interesting, albeit weird and questionable political plays.

What may frighten readers more than an actual tornado is the tornado that the world economy may be experiencing within the next few years.

According to Moriarty (Chapter 4), “we are starting the most significant financial collapse in all of World history” (which I mimic in my own writings).

At this point, the book goes into the metals markets, most significantly gold and continues on in this vein comparing investing in metals to a form of insurance policy during periods of economic strife.  However, unlike an insurance policy which in many cases is merely a vastly overpriced useless piece of paper that you have to have whether you want it or not and rarely ever generates a fair payout, using gold as insurance against difficult economic times is a type of policy that might actually make sense for your financial portfolio.

One thing that I really liked was that the complexity of indicators was clearly explained, so that any ‘idiot’, whether they are writing a book or not, can comprehend and put to practical use the tools that are out there for the taking.

Moriarty also looks at different aspects of investing, from a comparison between streaming and royalty companies to mutual funds to simple basic investment strategies.  Important to note is that the book contains a list of the top ten gold mutual funds as well as a comprehensive list of different level gold companies from the majors to the small producers.

The brilliance of Moriarty is very matter-of-fact.  There is no sugar-coating.  As he states in investing (Chapter 8) “You either profit or you lose” and you can’t get more direct than that. Not even an expert marks person can always hit the red circle that closely.

His interesting rhetoric on investing errors includes personal examples, both his own and others.  They serve to bring the stark reality of how easy it is to lose money right to the forefront.  You don’t have to throw money out the window but if you are going to make bad investment judgments even knowing what the right strategy should be, throwing money out the window will have the same loss effect but without the stress.

Chapter 13 (no, not as in that bankruptcy thing) of the book outlines a list of helpful hints.  My personal favorite is number 17 – “Never confuse brains with a bull market.  There is a big difference.  The day you think you are as smart as the market, the market will kick your butt.”  Fair warning for those investors who gleefully watch as a stock they have invested in continues to rise visualizing the dollars that will float into their bank account when they sell in two days time until they wake up the next day to possibly find out that red is the color of the day and the dollars have graciously floated into somebody else’s bank account.

In Chapter 14, Tools I Use, Moriarty provides websites and contact details of some of the sites that he personally uses to find information.  He makes it clear that he does not receive any payment from them.  He just likes the sites.

In conclusion, ‘Basic Investing in Resource Stocks – The Idiot’s Guide’ is an excellent resource guide whether you are a beginner, a mid-expert or an all-out expert investor.  It makes you think and it makes sense.

The book is available on Amazon.com ; Amazon.ca ; Amazon.com.au

Bob’s website:  www.321gold.com

As always, do you own due diligence

Happy Investing!

Dr. Kal Kotecha

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