Announcer: Wall Street Unplugged looks beyond the regular headlines heard on mainstream financial media to bring you unscripted interviews and breaking commentary direct from Wall Street, right to you on Main Street.

Frank Curzio: How’s it going out there? It’s January 29th. I’m Frank Curzio, host of the Wall Street Unplugged podcast where I break down the headlines and tell you what’s really moving these markets. You know, my days of living in Northern Florida may be coming to an end. I’ve been here for 12 years now.

Frank Curzio: I have to tell you, I thought I would get used to the culture but I can’t, especially in my neighborhood. I grew up in Queens, New York. There were kids in the street playing all the time, lived right next to this big park called Farmer’s Oval. Wasn’t a lot of traffic on the streets because it was a dead end, but we played foot hockey, football, baseball, everything. I mean, every single sport you can think of we played and there were dozens of us.

Frank Curzio: Dozens of kids all hanging out. The parents were all on the same page. They saw your kid doing something wrong, they yelled at them. You didn’t get in trouble for that back then. Perfectly okay because they cared. My neighbors back then, all the family, we cared about each other. We hung out together. We all had each other’s backs.

Frank Curzio: My neighborhood in Northern Florida, I have to say, my neighbors and if I put a percentage on it, 90% don’t give a shit about you or your family. They don’t talk to you, they’re very mean, and I’m struggling to understand why they’re so pissed off.

Frank Curzio: It’s gotten worse as I’ve been here. It wasn’t like that the first couple of years. There were a few kids in the neighborhood, not a lot of kids. There was a few. Now there’s hardly any. I did have a few cool neighbors, lived next to me, lived across the street. They all moved.

Frank Curzio: Holidays were cool. Now at Christmastime, you’re lucky if you see just a few houses with decorations on them. Every Halloween, my neighborhood was the go-to neighborhood when I first moved there. I’d say first three, four years. They had to shut it down, a police car would come with his lights stopping cars from coming into the development. Of course, if you lived there you’d be able to come in.

Frank Curzio: My development houses about 125 homes. The parents would sit outside on lawns, have a few beers, the wives take the kids around and the husbands would take them around next. It was like three, four hours. You hung out, it was very social, lot of fun.

Frank Curzio: But the past few years, and the old people who run my neighborhood, who basically run my housing development, they now put up a sign right in front of the entrance so when you go in, right in front of the entrance on Halloween and it says kids could only trick or treat from 6:00 to 8:00 PM.

Frank Curzio: Think about how effed up that is just for a minute. Kids have one day every year or trick or treat and you’re going to put a limit on it. Only two hours? If you don’t want to participate, fine. Maybe you’re older and you can’t walk to the door every five minutes to hand out candy. I get it. But if that’s the case, just shut your lights off and none of the kids will ring your bell.

Frank Curzio: But to have a big sign that says only two hours? The first three years I lived here, we were the go-to development and the whole town would come to our neighborhood for Halloween. Tons of kids from other neighborhoods. They would trick or treat and it was awesome. They even set up cool haunted houses for the kids and they put a lot of work into it. They were really, really cool. They did it through their house and they had this whole thing set up, different rooms. It was really cool.

Frank Curzio: And now over the past couple years, hardly anyone trick or treats in our neighborhood. In fact, my wife and I, we drive a few miles to a friend’s house to take our kids trick or treating in their neighborhoods because there’s no kids around. There’s nothing around. Half the people don’t have their lights on, they don’t care but the two hours, it’s just so much more fun going someplace else.

Frank Curzio: I’m not ranting here trying to be funny and picking on Florida. This is really important, more important than earning season, the coronavirus, the Grammy’s, the impeachment hearings, topics everyone’s talking about this week. Bear with me because my frustration is beyond belief and more important, I’m going to make a very strong point here.

Frank Curzio: Because recently when my neighbors, neighbors I don’t like, they block my driveway almost every day with their cars. Keep in mind, I live in a development where it’s against the rules to leave your cars parked on the street overnight unless there’s exceptions, you have a party, someone’s over for the weekend. Nobody cares, that’s okay.

Frank Curzio: I’m not talking about this. My neighbor that lives on the same side as me has four cars. They park one of their cars in front of my house almost every day for the past two to three months and the tires on this car are actually on the grass. They’re on the grass in my front lawn.

Frank Curzio: Forget that it’s difficult to see when we pull out of the driveway, right? Because it’s a narrow street, it’s difficult, you’re blocking off the street, but you’re on my fucking grass. Are you kidding me? The guy across the street’s even better. Think he’s some kind of retired judge. Miserable.

Frank Curzio: Being a judge, it basically means the percentage of being smug, arrogant, asshole, extremely, extremely high, right? It’s hard not to be if you’re a retired judge or judge in that matter, given that you’ve basically been telling everyone what to do your entire career and none of those people have the right to talk back to you. Not a bad job for anyone who needs to boost their ego.

Frank Curzio: Yes, it requires a lot of education but you get my point. Here’s a guy that parks his car across the street also blocking my driveway. Now this guy owns two cars and we all have two car driveways in the neighborhood, every house. I have two cars, my wife’s, myself. They’re in our driveway, they’re parked in our driveway. But this guy, no.

Frank Curzio: One car is in his driveway, the other parked in the street blocking my driveway. So, when my wife and I pull out, we’re backing out, I have to back out, go forward, back out, go forward to get out which is insane. The funny thing is, and I thought about this a lot, these people have no idea they’re doing anything wrong and they’re not being a-holes on purpose, which I could actually accept.

Frank Curzio: I’m from New York, I get it. Sometimes you just don’t like people, you’re going to do stupid… I get it. But they’re just idiots. They don’t understand. Every street in my neighborhood, if you look anywhere, if you walk outside at night, you look to the right, you look to the left, you go down any single block, there’s no cars anywhere at night parked on the street except in front of my house and they’re not even my freaking cars.

Frank Curzio: But it’s not just the people living next to me and across the street. Almost everyone in my neighborhood is old and miserable. It’s been going on for such a long time. I’ll get home from hanging out with my family, we like to do things on the weekends. I get out of the car, my kids and wife get out of the car, we park in our driveway and someone will be walking their dog across the street and this isn’t an isolated situation. This happens a lot.

Frank Curzio: The sidewalk’s across the street. We don’t have the sidewalk on our side of the street, it’s across the street, so somebody walking their dog, just walking by and I always do the polite thing. I wave and say, “Hey, how’s it going? How you doing?” And I’ll wave. They look at me and don’t wave back. They just keep walking.

Frank Curzio: I mean, who doesn’t wave back? Who doesn’t wave back anywhere in the world? Who doesn’t wave back when you wave to them? I could travel to Beirut, there could be a terrorist across the street and if I waved, that terrorist is going to wave for me. It’s universal, everybody waves. Everybody always waves. Even if you don’t like the person, if someone waves, you wave. Everywhere. Universe, any country, anywhere. They’re going to wave back. My neighborhood? Nope, they won’t wave back. Just turn their head and keep walking.

Frank Curzio: My kids see this and they’re like, “Wow, why is everybody so mean here?” I’m always honest with them and I tell them because there’s a lot of a-holes in the neighborhood. I try to cover that up and don’t curse but they’re kind of you-know-what and my daughter’s like, “They’ll be what? A-holes, dad?” I’m like, “No, don’t say that.” But they get the point.

Frank Curzio: I say just ignore them. But I just don’t get it. Why do you hate the world for? Why you so grumpy? If you hate everything and you’re mean to everybody, man, just jump off a bridge or something. I know that sounds terrible. Oh my god, tell me to commit… It’s just if you’re that miserable, why share the misery with everybody else?

Frank Curzio: I just don’t know what the purpose is being miserable and treating people mean all the time. I’m not talking about sometimes this happens. This happens all the time, all the time. Maybe some of these people are living with chronic pain. Okay, you get a pass but that’s not these people. You know what pisses me off the most? And this is really important to understand.

Frank Curzio: Very, very important to understand. Guys like me are in the prime of their career. I work my ass off. I love what I do. The only way we get smarter, the only ways we can learn is by talking to people who have experience, who went through ups and downs, lived through different cycles where most young people today only know about one cycle, a straight up stock market, booming economy, assets going higher for the past 10 years.

Frank Curzio: Guys, this kind of market never happened in our history this long. We will go into a recession, we will have massive pullbacks. That’s normal. That’s normal. But you get this experience by talking to people who have been through it. But if you’re 60 or older, the knowledge you have, I can’t read that in books. It doesn’t capture the emotions, the real perspective that you have.

Frank Curzio: The financial newsletter industry, our demographic is a 60-year-old person who has a nest egg, who is looking for new ideas to invest and has the time to read several newsletters. I know I’m talking to my core market right now. If you’re grumpy, you’re pissed off, the easiest way to get rid of that anger, try mentoring someone.

Frank Curzio: Share that knowledge that you have. It doesn’t matter what field you’re in, it doesn’t matter what race, gender, if you served our country. You all have knowledge to share that could help us. Can you imagine the perspective you would get from a retired military vet that’s been in dozens of hostile nations? They come back and listen to Americans complain about traffic, post meaningless selfies of themselves. Hey, how you doing? All over social media.

Frank Curzio: Take for granted that you have access to water every day, every minute or electricity or opportunity to succeed if you work hard. I got to tell you, guys like me, I’ll sit and listen to you all day and I’ve done that. I’ve done that with so many of you that have emailed in. Frank@curzioresearch.com. So many of you, you know exactly what I’m talking about.

Frank Curzio: For me, that’s invaluable just to learn, to capture that. I mean, seriously I read books, I read everything in the markets. I could teach you guys anything you want when it comes to research, anything. How to do the research, what stories are important, what metrics are important. You probably won’t get a better perspective when it comes to stocks, individual stock picking than anyone in this industry. I could help you with that.

Frank Curzio: But at the end of the day, I’m only in the third year of running my own business. I’m not a genius. I’m going to make mistakes and yet, many of you have been through this whole entire cycle already, many times. I mean, starting your own company, learning through those ups and downs, learning from your mistakes that allowed you to retire comfortably.

Frank Curzio: Those lessons I could learn from you are priceless and again, I’ve reached out to so many of you for this and it’s cool. I love it and that respect. So stop being grumpy, stop being pissed off at the world, you’re alive and being alive is the greatest thing ever. Life’s an exceptional thing. So many of us take for granted. Look at Kobe Bryant, his 13-year-old daughter, the helicopter crash.

Frank Curzio: I mean, how quickly things can end and when they do, when they do end and it’s going to happen to all of us, right? Death is inevitable. Who do you want to be? You going to be that person who says, “Oh, shit. You know what? I wish I had more time to hang out with my family, my kids, my grandkids, just a little bit more. Wish I had time to travel to the place I wanted to go which I…” To make amends with old friends you lost touch with over stupid, meaningless arguments. You going to be that person?

Frank Curzio: Are you going to be the one that says, “Man, you know what? I accomplished so much. I gave it all as a parent, I worked my ass off to provide a better life for my family, my clients. Traveled the world. Met so many amazing people, had so many great times,” which most of the time, that comes from being irresponsible. It’s okay to be irresponsible and do stupid things. Those are the times you remember for the rest of your life. Believe me.

Frank Curzio: You’re not going to remember the big test you passed in college. No. You remember drinking and throwing up and not sleeping and going in there to take that test and barely pass. That’s a cool story. That’s what you remember. For Kobe, and this hit me really, really hard, my life was basketball for pretty much every day before I got married. You’re looking at 25 years or so. It’s all I did.

Frank Curzio: It built my character, built everything. I went to the high school that’s ranked number one in the country and I didn’t make the team. I failed but I used it as motivation and it built my character, built me into the person I am today. I took this pretty hard.

Frank Curzio: When I look at Kobe, there was so much he wanted to do, yes. For the game, for his family, but you know what? He was a guy that left everything out there. He accomplished almost everything possible in the NBA. League MVP, Finals MVP twice, five championships. Even won an Oscar. Spent lots of time with his girls after he retired, traveled the world to educate people about the game, about sportsmanship.

Frank Curzio: Had the ups and downs, we know, just like all of us do but always rose to the occasion. What he accomplished in his 41 years is absolutely incredible. It’s sad, it’s a sad week, day, whatever you want to call it. This tragedy. I can tell you what, Kobe looking down, at least he can look down and say, “Man, you know what? I lived. I never took a play off. Every minute counted. Spent time with my daughters teaching them the game,” and that’s pretty cool to me.

Frank Curzio: I just don’t get why so many people in my neighborhood are so pissed off, so grumpy, so unfriendly. You know what? I don’t see any change coming. I thought I’d get used to it, to the culture, it would get better but after 12 years now, it’s actually getting worse, not better. I’m probably going to move, at least to another development but maybe to another state pretty soon and I promise I will keep you guys posted.

Frank Curzio: Anyway, so much going on with the markets this week. There is earning season, there’s a coronavirus which is affecting some sectors which is real because it’s not just, “Oh, this is going to get better” which it will. Find cures, it’ll be okay. But when you have places in China being shut down, it affects travel, affects Macau, affects gambling. There’s a lot of sectors that are going to get impacted. Earnings will get impacted.

Frank Curzio: You’re seeing now a lot of these names down 15, 20 percent. And impeachment hearings that still go on and on, whatever side you’re on. Crazy. But quietly, and this is pretty amazing, quietly one asset class, this is outside stocks, S&P 500, has not only been holding up well but it’s in a steady uptrend and the hedge fund managers are finally talking about this asset class more than anytime I can remember in the past seven, eight years.

Frank Curzio: This asset class is gold, which is now trading at a six year high which is not normal. That’s not a normal pattern we see when the markets or other assets are trading near their all-time highs. No one’s really talking about it, it is gold, the sector I covered for over a decade. Great contacts and a lot of money in this industry.

Frank Curzio: About 15% of my net worth in gold mining related assets. But to talk more about this trend, the price of gold, where it’s heading, what stocks will benefit, why is it different this time, I’m bringing in my buddy Amir Adnani, who’s a chairman and founder at GoldMining, a company that acquired 22 million indicated in front ounces of gold over the past seven years, using this downturn to build up a huge asset based in a depressed asset.

Frank Curzio: These acquisitions, which he’s made lots of them, cost GoldMining about $80 million. At the market’s peak in 2011, these assets were worth over $880 million. Usually I would tell you to ignore that. Okay? Doesn’t matter what the valuations were. Intel just passed its 1999, March 2000 valuation. It could take 20 years.

Frank Curzio: Usually when people say that, I run away but listen to this because this is significant. Because gold was trading over $1,700 back then at its high. We all know it went to as high as 1,900, it was there very briefly, but trade over 1,700 for a few months in 2011, hit those levels again I think in September 2012. But that’s a key level, 1,700.

Frank Curzio: Today, gold prices are trading close to 1,600 an ounce. Right? Just $100 off of those average highs back then. When I look at a company like GoldMining, their market cap is under $200 million. They’re not the only company I’m seeing this with. I’m starting to do a lot of research, a lot of things in there, finally seeing momentum.

Frank Curzio: You want to see the momentum in this industry before you get back in, so don’t worry about missing the last 30%, 40% move. It doesn’t matter. These things are down 90%. They still need to go up 2x, 3x, 4x, 5x to get back to where they were trading but trying to catch a falling knife has not been the way to go.

Frank Curzio: Doesn’t matter who your management team was, doesn’t matter if the pope was on the board, doesn’t matter anything. Mining stocks have gotten killed over the last seven years. Now you got prices coming back, a lot of things favoring the industry right now. Amir’s going to break down his company GoldMining, tell you about its growth initiatives but guys, it’s going to be a great, great interview. If you have any investments in gold or gold stocks, this is a must listen to.

Frank Curzio: My educational segment, it’s that time of the year again where I give you the ultimate guaranteed recommendation. Relax, if the SCC is listening, this is a joke. Kind of a joke, but anyway, this investment which I share every single year right at this time has been dead on for eight out of the past nine years. I think some of you know where I’m going with this, if you follow me for a while.

Frank Curzio: But for new listeners, please pay close attention to this segment because not a lot of sure things in life, but this segment, this recommendation I’m going to share is very, very close to being a sure thing. I’m going to break that down for you, it’s going to be a lot of fun and before I share all the educational segment, all the data, everything, and why my recommendation is almost guaranteed to work out, let’s bring in GoldMining’s founder and CEO, Amir Adnani. Amir Adnani, thanks so much for coming back on the podcast.

Amir Adnani: Hey, Frank. Is it okay to say happy New Year or is it too late?

Frank Curzio: No, it’s perfect timing and although I think it’s been a little while since you’ve been on this podcast, I was fortunate enough to see you not too long ago, about a week and a half, two weeks ago which was a lot of fun at the Consumer Electronics Show. What’d you think about the show? Was that the first time you were there?

Amir Adnani: Yeah, it was the first time and I think it was a wonderful opportunity. In fact, inspired by your defeat last year to that robot that beat you at ping pong. Do you remember that?

Frank Curzio: Yeah, yeah. Yes, I do unfortunately. But yeah, it was great to catch up with you in person and hang out which is a lot of fun but a lot of people on this podcast haven’t heard from you for a while and we’re going to talk a lot about gold and GoldMining. Let’s start with the macro picture.

Frank Curzio: Okay? Because four years ago, you and I, which we know each other for a while now, we thought gold prices and gold stocks would surge after Trump got elected and I think there was tons of people that believed that as well and we were all wrong.

Frank Curzio: Now given the strong possibility of Trump getting reelected, and forget about politics, put our differences aside, it’s very hard to unseat a president when the economy is doing this good. It could happen of course, but most likely it’s not going to happen at least right now. Trump gets reelected, do you think this could create another long term head wind for gold again?

Amir Adnani: Before we talk about Trump, why don’t we just talk about the three words that could be just absolutely bullish for the gold price, right? Those three words are President Elizabeth Warren. This is interesting to look at Frank because you and I both thought, and maybe the market thought to some extent, in 2016 that if Trump became president, it would be terrible for the economy and it’d be very good for gold.

Amir Adnani: Who would’ve thought today we all would think that he’d be the best thing for the economy and that the Democratic ticket and the nominees look like they would be the worst thing for the economy? But anyways, that aside, I think we also have the fact that today in the White House, you have a president who’s actually fascinated by negative yielding bonds and he’s wondering, “That sounds pretty good.”

Amir Adnani: The businessman and former developer, he gets how interesting those could be. That to me is the bigger sort of theme that we need to think about, that regardless of who wins the election later this year, we have this unprecedented phenomenon in the world that started really to take momentum this year where we got as high as $17 trillion in the world in terms of bonds globally that were negative yielding.

Amir Adnani: The numbers come down a bit but still, I believe the latest estimate is somewhere around 10 or 11 trillion dollars of bonds globally that are negative yielding. This is sort of economic insanity. This idea that you give out a loan and get less back in return. It really emphasizes the need and why we’re seeing central banks globally kind of pursue this concept of de-dollarization.

Amir Adnani: Central banks have been net buyers of gold for 10 consecutive years and Asian central banks still have very low gold holdings which basically means that countries like China continue to switch out of treasury holdings and into gold. While I think events like the US presidential election coming up and geopolitical events like what we had in terms of craziness in the Middle East and the issues between the US and Iran just a few weeks ago, while those things can certainly create volatility in the gold price, I think we have some more fundamental underpinning that is driving the gold price higher and that’s gold’s main relationship with basically real interest rates and adjusted for inflation.

Amir Adnani: When you look at that, if we continue to head into this negative yield world, this is going to be a very positive backdrop for a long time to come for a stronger gold price.

Frank Curzio: Now Amir, mining is your life. You’re in the central hub of the mining world in Vancouver. Being on the outside, I’m seeing more hedge fund and major hedge funds talk about gold and the importance of it, more today than I’ve seen pretty much in the last six, seven, eight years at least. Are you seeing that on your end or is that a big deal to you? Because for us, it seems like that nervousness from…

Frank Curzio: These are guys that manage hundreds of billions of dollars. You’re usually not seeing them talk about goal, especially with stock prices, most assets going sky high, a lot higher it seems like. The fact that they’re still in place for that to happen at least through the election. But I’ve never seen so many of these big hedge fund managers and very important we talking about why you should have some kind of allocation of gold. I don’t know if you’re seeing that as well on your end or is that a big deal to you guys?

Amir Adnani: Well, it certainly is a big deal. But having said that, I would agree with you that while you see, let’s say, a Ray Dalio come out and talk about gold and be bullish gold and you’re seeing some really big names on the investment side talking about gold and the importance of gold as hedge or insurance in portfolios at a time when again the markets are at a new all-time high, it seems, every day.

Amir Adnani: What we haven’t seen yet, Frank, in a big way is that translating, that interest and that investment interest in gold, translating to investments flowing in a big way into junior mining stocks or junior gold stocks. I think you’re seeing the bigger, large cap, very liquid names receive some of the attention but I think this is also very normal.

Amir Adnani: Rural Bank of Canada just a few months ago had a report discussing this saying that look, in the very early innings of developing recovery in the gold market and the beginning of a bull market, you see capital initially get allocated to physical gold, psychical gold ETFs. Then you see the large cap names with much greater trading volume on a day-to-day basis, then they start to catch a bit.

Amir Adnani: We’ve seen this interest in royalty and streaming gold companies that actually trade at the highest price in that multiple in the sector right now. Then it starts to trickle down to the midsize companies and then the small caps. Frankly, historically, the biggest gains are always when the small caps move because the small caps are typically when you have the 10 baggers.

Amir Adnani: In the large caps, you get your kind of doubles and things like that but these are bigger companies. What’s super exciting, and you and I have seen it in the past, is when the junior sector starts to go. I don’t think that it’s happened yet and frankly, you’re too close to all of this to probably have access to guys like me to get on your podcast and talk about this.

Amir Adnani: But I think the general market, talking heads on CNBC, they’re still talking about the Dow Jones and the S&P and those frankly really exciting companies that have done very, very well but gold and gold stocks I don’t think are really part of the discussion or narrative yet.

Frank Curzio: Yeah, you bring up junior miners and let’s stay on that topic because when we see this move in gold, royalty companies, streaming companies have been doing great, majors have been doing great. But there’s two important factors I look at when it comes specifically to juniors, right? Because most juniors, and I think you admit this as well, they’re not looking to develop that resource into actual production.

Frank Curzio: Most, they’re looking to get acquired and the majors do the acquiring which is a huge problem from 2013, 2018 because these companies are so leveraged, some of them almost went under. Now they’re in much better shape, biggest players merged, they cut costs but they’re in positions to buy and there’s two factors that I look at here that are important.

Frank Curzio: I want to get your perspective on it because when I look at the gold reserves by the majors and how much it is down, to replenish those reserves, you have to replenish those reserves and also, the amount of major discoveries. We’ve seen tons in the 2000s, last seven years and when I say major discoveries, I’m looking at over one million ounce discoveries.

Frank Curzio: Very, very few at least over the last seven years. Could you talk about why that’s so important, especially to the juniors?

Amir Adnani: It’s an important trend and it’s probably one of the biggest trends that’s the side effect of basically close to a seven year bear market that we had in the gold sector that started around 2013. During this period where you had a prolonged bear market, major gold producers basically were focused on de-leveraging their balance sheets, so paying down debt and they had to squeeze margins to make that happen.

Amir Adnani: One of the first things that they did was to cut out spending in exploration and development, which is how you make discoveries, which is how you replenish the mines that you’re depleting, because mining is naturally an exercise where on a day-to-day and year-to-year basis, you’re mining, you’re depleting an ore body or resources and you got to replace them.

Amir Adnani: The only way to replace them is with more drilling, more exploration, and that type of work, that exploration development work was minimized, completely vanished in the last seven years. Here we are entering this kind of new bull market for gold where the gold price is over $1,500 and that’s the first time in the last seven years. So, there’s this meaningful inflection point that’s taking place.

Amir Adnani: Maybe the balance sheets of the major gold producers looks much better after several years of de-leveraging but the pipeline of future growth which is resources or reserves in the ground have declined by 42% since 2012 and they’re actually at a decade low. That creates a fascinating situation for junior companies because just like in biotech, right?

Amir Adnani: In biotech, you have the biotech companies that do all the R&D, the research and development and then the majors that are out there doing what the majors do, but at some point, they have to acquire the juniors because that’s where the future pipeline is, that’s where the future drugs are, that’s where the future kind of deposits are that need to be developed.

Amir Adnani: But there is really meaningful parallels between how biotech industry works and research and development in that sector and junior resources in junior mining. This is interesting for your listeners that may not be familiar with junior mining but are familiar with biotech. Those parallels are so true.

Amir Adnani: Imagine if for the last decade, no one had done any research and development for new drugs or for new drug delivery platforms or things of that nature, right? And all of the sudden, there was a new era or a new market environment that called for it. This to me is one of the most singular important issues or trends and one of the reasons to be excited about sort of the prospects for junior resource, junior gold, junior mining in the years to come.

Amir Adnani: As greater interest from investors comes into these companies, they become better valued and better positioned for and become potential targets for larger gold companies that are going to then be focused on addressing their resources and reserves being at a decade low.

Frank Curzio: Okay, now let’s switch tunes. Now we’re going to be talking about macro which is important, guys. You need to understand the gold markets, right? Because we know if gold doesn’t do well, we’ve seen it, it doesn’t matter who’s on your board, what kind of company you have, chances are if you don’t have a sector doing well, everything falls. Some are going to fall more than others, but now we’re seeing gold rise and you made the case that I think most of us really believe, especially me, that this trend’s going to continue.

Frank Curzio: There’s definitely tailwinds behind negative interest rates, dollar, and I see a lot of positives even… Not so much coronavirus, but still people are worried that they’re going to need a safe haven. I think gold’s going to continue to do well over the next few years. Let’s get into GoldMining.

Frank Curzio: I remember GoldMining when it was Brazil Resources. That’s how long I know you for, meeting in New York City, man, 2012 maybe. 2011? But being one of the first to cover this name and see what you have done. When you came to me, you said, “Listen, this is what we’re going to do. It’s a depressed market, we see these cycles all the time. Not all the time, but over the last 30 years we’ve seen and we want to acquire these assets when they’re dirt cheap” which you did.

Frank Curzio: I think what everyone didn’t anticipate was that the market would be depressed for this long, but now you’re sitting on a massive asset base. Talk about gold mining to someone… I have a lot of long term listeners, long term subscribers, but people who are listening for the first time. Talk a little bit about your company, the idea, your assets because it’s pretty incredible what you’ve built here and the position you’re in right now, especially if gold continues this run higher.

Amir Adnani: If we step back and look at sort of what our thinking has been and what our business strategy has been, we observe a few things. We observe about the fact that the mining business is a very cyclical business and that in the junior mining business, there are different strategies or ways by which you can position a company whether you’re just focused on grassroots exploration which is a very high risk, high reward kind of business or you have a single property that you want to just advance towards feasibility.

Amir Adnani: You can kind of create an optionality business model. What that means, and it’s happened very successfully in other commodities over the last 30 years in silver. There was a company called Silver Standard in the early ’90s that was acquiring previously explored silver properties and just amalgamating a number of these. Today, that company is a multi-billion dollar silver producer and precious metal producer and spun out other companies out of that, like Predium that’s become a high grade gold producer.

Amir Adnani: But its foundation was very much doing what our company GoldMining has done over the last eight years of a bear market in gold, except we’ve done it in gold what Silver Standard did in silver or very famous mining entrepreneur Ross Speedy did with copper in early 2000 when copper was less than a dollar a pound, buying copper resources in the ground, putting together a big portfolio and his copper prices rally, you basically sell every asset to a different buyer.

Amir Adnani: I think in their case, they turned $100 million worth of acquisitions into a $1.4 billion exit when it was all said and done. For this kind of strategy to work, you need a) a prolonged bear market in a commodity of interest. In our case, we got the timing right. We started our company in 2010. We IPO’d in 2011. We sat there patiently for about a year from our 2011 IPO and made our first acquisition in 2012.

Amir Adnani: Since 2012, have made numerous acquisitions as recent as a month ago that gives us the largest gold resource portfolio of any pre-production company listed in America. Multi-jurisdictional, we’re in five different countries. To get this strategy right in my opinion again takes a prolonged bear market. So, we just had that in gold since 2013. We had a seven year bear market. You got to be able to get a backing from investors that have patience, that understand and have played this business model before so they kind of understand how it works.

Amir Adnani: We had that. One of the early backers of both Silver Standard and Lumina Copper was Rick Wu, which brought asset management or guys like our mutual friend Marin Katusa and guys like Doug Casey. These were some of the earliest investors and still to this day, current and largest investors in our company that had made money on this type of business strategy, had seen it happen in other commodities.

Amir Adnani: So you get the right backers, you get a nice prolonged period, you patiently acquire assets during this period and you sit tight until there’s a re-rating in the commodity and we come into an upswing for that commodity. In this case, this is really an exciting time for me because I’ve spent, again, close to a decade of my life building this company.

Amir Adnani: You’ve been there really since the beginning as someone who recognized it early on and have followed it along the way as well. Some of the partners we had in the deal, Frank, as you know were absolutely foundational and instrumental to this whole thing, like Mario Garnero and Brazil Invest to have backed us from day one.

Amir Adnani: Mario is one of the most kind of famous investors and entrepreneurs in Brazil and South America, so the fact that we acquired projects in Brazil, Colombia, and Peru with a very notable and strategic backer, investor in South America, definitely gave us the right footing there but at the same time, expanding our portfolio into the US, into Canada.

Amir Adnani: Today, we have about 10 and a half million ounces of measured and indicated gold resources and 12.4 million ounces of inferred gold resources. It’s in five different countries and it’s very diverse. What I think you got to remember, I’ll give you one example because this is around the time you and I were talking.

Amir Adnani: Summer of 2015, this is an example for a listener to understand how contrarian you have to be to execute on this kind of strategy. Summer of 2015, we acquired the Whistler property in Alaska. I think we paid at the time about $1.6 million for what was at a point in time in 2010, at a higher gold price, that was 150 million market cap company. 170 square kilometer property.

Amir Adnani: In 2015, I don’t think you could’ve bought a home in Vancouver where I’m based out of for $1.6 million. I remember thinking about that. I was like, “We have this incredibly overvalued real estate market.” You can’t buy anything for less than two million. Jeez, and here we’re buying 170 square kilometer property with gold resources that have been drilled out for 1.6 million and gold was at $1,050 an ounce and people thought it’s going to 900.

Amir Adnani: That’s just one example, but it’s a good example to demonstrate what we’ve been through and where the gold price has been and how extreme the valuations get in our business where the same asset can be valued at a couple of million dollars, at $1,000 gold and $1,700 gold can be valued at $150 million.

Amir Adnani: Those are the swings we see in commodities. That’s the cyclicality of commodities and that’s why it really is a feast or famine kind of sector to the extreme. But maybe I’ll stop there and kind of see how you want to drill into it, but that in a nutshell is the business that we have and we’ve created.

Amir Adnani: Today, our company for the first time is seeing the gold price, forget about over 1,500, but over 13,00. For most of our life as a company, gold was less than $1,300 an ounce. It’s quite interesting to be in a position today where we can say we’ve spent $80 million acquiring companies and projects that had close to a billion dollars of combined market cap in the last full market cycle for gold.

Amir Adnani: So, this has been a classic case of making acquisitions for ten cents on the dollar.

Frank Curzio: Yeah, no, great stuff there and explaining your company, you can’t do it in five minutes. You have to go over the properties, how it all came together, and it’s amazing. I will say this, when you go through ups and downs in the markets, it’s fascinating especially when you have the times where the cycle’s not in your favor but you learn more during those times compared to during the bullish cycles when you’re spending, you’re being more aggressive.

Frank Curzio: To see what you did with the company to the point where you kept spending in the rap, you have a strong balance sheet, you still have high insider ownership. Let me ask you this last question here. What are your plans going forward? Are you looking to acquire more and they’re probably a little bit more expensive than they were? Is it more difficult? Because it seems like that might be a strategy a lot of companies are looking to do, especially the majors who have much better balance sheets today.

Frank Curzio: Or is it maybe, “Hey, we want to extend out these properties. Maybe there’s more gold listed on these properties.” What’s the plan right now? Because I know in this market, the wait and see approach or just hold on and wait is almost seen as a negative, right? People hate that. I mean, if there’s no catalyst, especially in the markets outside of money that I cover, if there’s no news on a stock for three, four months, people just sell it.

Frank Curzio: They don’t care. They’re like, “Okay, we’ll come back later.” Everything’s so real time today, especially with social media. What are some of the plans that investors can look forward to, especially over the next quarter to maybe two or three quarters.

Amir Adnani: Well, I mean you have a situation where we have done a tremendous amount of work and I think today when we look at our valuation compared to even 2016, in 2016, we had a gold price that maxed out at 1350 but yet, the gold stocks were two to three times higher than they are today. There was a stronger bull market for equities then than there is now.

Amir Adnani: Today, if you just compare our company, I think you’ll recall in 2016, we were the best performing gold stocks that year. I think we were up 400% compared to GDXJ that was up 180% which truly speaks to the leverage and optionality that we have to a rising gold price.

Amir Adnani: But back then, we had less than half of the total gold resources that we have today and our valuation was three times higher. I think first and foremost, we plan to be very aggressive in the first half of this year to raise awareness about our company and our fundamental value. Frankly, we’re getting more attention and interest from institutions that are inviting us out to meet with them, talk to them.

Amir Adnani: There really is growing interest in gold, so I think we’re going to do just more aggressive job raising awareness about the company and that hopefully will lead to also our ability to execute on more acquisitions. Because I still think that there’s a window right now where we can get more deals done.

Amir Adnani: We just announced a deal last month on a project called Yeremalito in Colombia. By the way, we’ve been acquiring projects in Colombia’s central main coco belt for the last three years and how rewarding was it last month to see the Chinese company Xinjiang Mining come and pay $1.4 billion in cash for a company that’s just 40 kilometers north of where we are in the same geologic area and belt, that we believed for three years was a great place for us to consolidate assets.

Amir Adnani: There’s I think growing interest, you see more deals like this happen and so, part of our story will be about delivering on more resources. This latest acquisition in Colombia, we haven’t put out the resource report on it yet. There was drilling done there and we expect to have that news out. We expect to have news on more acquisitions and to also demonstrate that the portfolio that we have of this size in a rising gold market environment can start to attract attention from bigger companies that are looking to invest in growth, looking to invest in projects that can then become part of their future production profile.

Amir Adnani: I would expect that this would be definitely a very busy year for us, an active year with news and activity and new attention, new attention from investors that are under weight gold, that haven’t paid attention to gold all these years and now believe that the move in the gold price is generating enough interest to start to pay attention to the different ways that you can play the sector.

Frank Curzio: Yeah, doesn’t make sense and listen, I mean I love when you come on. We get so in depth on so many different industries. It’s really cool to talk about gold. Sometimes you talk about uranium or different mining markets but really great stuff on your perspective not just from the macro but also on GoldMining and your plans and what you guys do. So, I really appreciate it.

Frank Curzio: I guess my last question to you is, and I’m hoping that you’ll do this, could you cite the beginning of my show like you do every time you see me?

Amir Adnani: “Hey, it’s Frank Curzio, how’s it going out there?”

Frank Curzio: There’s this longstanding joke, I’ve known Amir for a long time. Every time without a doubt when I see him, like, “Hey, how’s it going?” He goes, “Hey, how’s it going?” It’s how long that we’ve known each other.

Amir Adnani: Hey Frank, did you end up beating the robot at ping pong this year or what?

Frank Curzio: I did much better but they can really put it up a notch where it’s a professional, so I did much better. I got points off of him but he was being nice to me because he knew I was doing interviews and I was taping everything. They put it down to a level that was kind of not professional. But yeah, the answer is yes but you have to put a little asterisk next to that. I probably wouldn’t beat it… I wouldn’t come close to beating it if it did the little spins and everything like that. So, it was a lot of fun, man. It was good to have you there too.

Amir Adnani: It was a lot of fun and listen, I appreciate you having me back on. I have a feeling that you’ll be talking about gold more and more over the course of this year on your podcast. There is real life here in this commodity and we’ll see how it plays out. I can only imagine that this is going to be another good year for gold, because let’s not forget, last year wasn’t so bad either, right? Gold price did very well last year. It’s hopefully an area that your listeners are more interested in and we can continue to share good information with them.

Frank Curzio: Yeah, that sounds great bud. Well listen, thanks for coming on. I’ll see you soon. Love when you come on, I really appreciate it and how busy you are. Yeah, I’ll talk to you real soon, buddy. Thanks.

Amir Adnani: Okay, thank you. Bye.

Frank Curzio: Okay, guys. Great stuff from Amir. He’s one of the great people in the mining industry. He’s a good friend, asks about my mom all the time and texts me to see how I’m doing. Always doing the right thing and his hard work’s going to pay off. We follow the stock for a while. I mean, I’ve been in the stock 2012, 2013 around. Early investors did fantastic, we recommended another two times thinking wow, this sell off has to be done and we stopped out a few times, so I lost a little bit of my subscribers which wasn’t happy with.

Frank Curzio: This time, I was very careful saying okay, we’re going to get back into a lot of these names. We want to make sure this trend is there. I thought it was there. There’s a lot of head fakes, 2016. Even in 2018. But there’s something much bigger going on here in gold where there’s a bid there. There’s more interest there. You’re seeing a market where people are starting to get a little nervous and saying, “Okay, it’s getting a little frothy. How much higher can we go?”

Frank Curzio: And of course, we could go higher. A lot of us didn’t think it was going to go higher, the market over the past two years but they’re still doing amazing and people really don’t care about gold when you can make 30% on Amazon or Microsoft in a month, but times are changing. Time’s definitely changing, so we’re going to try to find some really good names for you. I’m going to try to get the best people in this industry on, people that I trust, people that I’ve dealt with before, people that have never screwed anybody over because the mining industry is very dangerous guys.

Frank Curzio: Out of all the industries I cover, this is the biggest scam industry in the world by far. More than marijuana, more than crypto. I’m not kidding. I mean, people will take your money in this and they don’t care, so you have to be very, very careful. I’ve been fortunate enough to attach myself to the right people who guide me in the right directions, have the best contacts in this industry.

Frank Curzio: Guys like Rick Wu, Marin Katusa, Amir, Jeff Phillips and with this industry getting a bit, and these guys have called me for the past couple years, “What do you think of this?” I’m like, “I don’t want to do anything gold, silver. It’s just not working and everything else we’re doing is working.”

Frank Curzio: Performance isn’t great but now you’re seeing gold catch it big, you’re seeing some momentum behind these names and I want to try and get some more people in front of you. Because the last thing I want to do is recommend a couple of these gold stocks. We do have one silver recommendation that’s doing pretty good in Curzio Venture Opportunities but you’re going to see more of these names, these juniors show up in the venture newsletter which is our more aggressive newsletter and I also recommend the new mining which is doing very, very fantastic with the bottom of that market.

Frank Curzio: I just love that company tremendously and I think that stock’s going to go a lot, lot higher. Pays a dividend, the cost of production’s under $1000 an ounce. It perfectly fits to really grow in this industry over the next ten years. Yeah, so great stuff from Amir. Guys, listen, I say this all the time. Podcast is about you, not about me. Let me know what you thought. Frank@curzioresearch.com, that’s frank@curzioresearch.com.

Frank Curzio: Now, let’s get to my educational segment. If you haven’t guessed it, here comes my Super Bowl prediction. Biggest guarantee ever and guarantee, I mean if you do the exact opposite of what I’m going to tell you to do. Bet on the team I think’s going to lose and you’ll be fine. I think it’s eight out of nine years, again frank@curzioresearch.com, you guys can correct me. Might even be longer, might be ten out of eleven years.

Frank Curzio: The only time I’ve won, that I’ve picked this accurately was the Philadelphia Eagles, my team, when I went to the Super Bowl. Every other year, I’ve been wrong and I am a huge football fan. Played fantasy football for over 25 years, did days when you didn’t have the internet. You actually had to look or wait until the paper to come out the next day.

Frank Curzio: Go to the store, get the paper and then look at the box scores in the paper to see the stats and how you did against other teams. One of my favorite sports, I love it next to basketball and I’m going to break it down. Let you know. It’s going to be really good analysis. I’m going to throw tons of facts at you. For some reason, I always get this wrong and all I want to do is make you money so you do the opposite, it works out, and let’s get to it.

Frank Curzio: Because on Sunday, Super Bowl, Chiefs are going to play the 49ers. Two best teams in the league. Thought Baltimore was, but I guess not. It should be a pretty good Super Bowl. Chiefs favored by one point, over under’s 54 and a half. Now I’m going to get into some stats now. If you’re not a football buff, I get it. You can shut the podcast off, I get it. We got a lot of great information so far.

Frank Curzio: But if you’re a football buff, listen to this and you should be, right? Super Bowl’s around the corner. This is the Super Bowl. Even if you don’t like football, you’re going to be watching the Super Bowl. Everybody does. You’re looking at the Chiefs led by pretty much the best throwing quarterback in the world right now, Patrick Mahomes.

Frank Curzio: Chiefs coming to spread last five games, has included a win against Texas which they were down 24 nothing and didn’t blink and they won 51-31 going away. Also beat Tennessee Titans. They were down 10 nothing and won 35-24 which that score’s a lot closer than what it really was.

Frank Curzio: The 49ers come to spread in five games. They were underdogs this year and they’re an underdog in this game, Again, by a point. Two playoff games, 49ers blew out the Vikings pretty easy, 27-10. They blow out the Packers 37-20. There’s another game where that score was actually not as close than what it really was. It was a blowout.

Frank Curzio: They win in a very, very impressive fashion. If I look at the 49ers ranked as a number two rushing team in the league, you got Mostert who’s basically filled in because of injuries. I love to see that the guy was cut by six different teams. I believe it’s six and now I don’t know if you saw the last game, 200 yards, I think it was 4 TDs against the Packers. It’s kind of amazing. It was like the Packers didn’t even exist though.

Frank Curzio: He was going through holes, wasn’t getting touched, just running all over them. It was insane. But man, I mean out of nowhere, talk about momentum. The 49ers also have pretty good offense, one of the best tight end in the league. George Kittle, he’s a beast. One of the best defenses in the entire league both upfront and in coverage.

Frank Curzio: Also have a solid offensive line, great wide receivers who can take it to the half. Devo Samuel, Emmanuel Sanders, great guys, especially with fantasy. Those guys did fantastic for you. Not so many weaknesses on the 49ers.

Frank Curzio: I look at the Chiefs. The Chiefs actually have a pretty good defense. They’re ranked seventh in points allowed but they’re terrible against a run which goes into the 49ers favor. They’re ranked 26th which is insane. The Chiefs’ offense reminds me of the Rams with Kurt Warner. There’s a team that can score anytime, immediately, in seconds. How many teams you know that are down 24 nothing don’t blink and they’re winning by the end of the half? I believe they’re winning at the end of the half.

Frank Curzio: It’s incredible how fast they can score, how quick it can happen. They have amazing wide receivers, super, super fast. Hill, Robinson, Hardman, Sammy Watkins also. I mean Sammy Watkins is a starter on every team. I think he does start for the Chiefs but he’s their fourth option. That’s how good they are. One of the best tight ends as well, Travis Kelsey. He’s great.

Frank Curzio: When I break down the stats for this game, which I do every single year, again I wind up losing. I have the Chiefs winning this game and here’s why. When we look at the 49ers, no question they have a great D. Put a lot of pressure on the quarterback, makes it easy for the corners to cover anyone, right?

Frank Curzio: When they’re getting to the quarterback, quarterback doesn’t have time to throw deep. That helps a lot. But they struggled in every single game this year where they faced a running quarterback. Seattle’s Russell Wilson who won the first match up, one yard away from knocking off San Francisco from the first seat to the fifth seat. That was the last game of the year.

Frank Curzio: Arizona. I mean, look when San Francisco played Arizona, I mean Kyler Murray. They only beat them by three points at the Cardinals. They beat them by 10 at San Francisco but they gave up more than 25 points each time. Here’s a team that gave up three points, seven points. Their running quarterback, they have problems with.

Frank Curzio: The other running quarterback, Lamar Jackson, ran all over them and I saw that game. It was pouring rain, you could barely throw. He threw for 100 yards on the TD but he also ran for over 100 yards on a TD. He was able to get outside the pocket, he’s able to do great against them. Again, it was pouring rain. San Francisco was playing against Jackson running and they still couldn’t stop.

Frank Curzio: When I look at Mahomes, you look at the last three, four games, he’s running the ball like crazy. Why the past few games? Because he was hurt mid-season. Hurt his ankle. Now he’s healthy. He’s 100%, you’ve seen him run an amazing play against the Titans when he ran just before half time. There was a 25 yard scramble, carried two guys into the end zone.

Frank Curzio: He creates fits for defenses. When I look on the other end with Garoppolo, I’m just not sure if the running game is not working. I think they’re going to stack the line a little bit. If it’s not working, I’m not sure if they can throw for over 250 yards, two, three TDs under this type of pressure.

Frank Curzio: Look what happened to Goff last year against the Pats. Guys were wide open everywhere. There’s a guy wide open in the end zone. That was a very, very close game. Very, very close game. It was still… What was it? 0-0, I think it was until the fourth quarter, end of the third when they were driving and then they got that penalty after they got the first down at the 30 yard line, finally in field goal range and they wind up punting.

Frank Curzio: It was a very, very close game but there was guys wide open that Goff was missing. He didn’t see them, he was just… The stage was too big for him. Look at him this year. What a step back. Not saying that’s going to happen to Jimmy G., But getting back to Garoppolo.

Frank Curzio: 70% of his passes come off the play action pass. It’s important to realize that. Okay? So, play action pass is I’m going to fake the hand off and then you go back, that’s when you draw the linemen in and you throw over the top. The Chiefs are one of the best teams against a play action pass this year. That’s important to know.

Frank Curzio: Also, the 49ers on defense, they love playing cover three. They play cover three most of the time. The Chiefs led the NFL by a mile playing against cover three defenses. That’s based on EPA, I’m not going to get too technical. Stands for expected points added per play. Just know that that’s like same store sales for retailers. That’s the metric they use.

Frank Curzio: It’s a standard used to measure basically a team’s efficiency. The Chiefs’ EPA is 61. To put that in perspective, the Saints who second is 43. They play great against cover three defense. They play great. Mahomes lights it up.

Frank Curzio: The real reason I like the Chiefs is because of last year. The heartbreaker against the Pats. Simply because 180 lined up in the neutral zone which negated the game ending interception throw by Tom Brady. Instead, they scored, they winded up beating the Chiefs. The game would’ve been over.

Frank Curzio: Also, they’ve been down big in the playoffs. They’ve been tested and never blinked. There’s something to be said of that. This team scores at will on anyone. They’re very dangerous. Turnovers can play a major role. Obviously, they always do. The 49ers get a couple, Bosa gets a couple interceptions, whatever. If you get interceptions with the quarterbacks, again, they have great corners. It could change everything.

Frank Curzio: The 49ers do, they have an exceptional defense but if they don’t get to Mahomes, he’s going to crush those corners. Even Richard Sherman who looked really old towards the end of that Green Bay game was getting burnt pretty bad. He didn’t look good. He’s great but it’s a lot easier to be a cornerback…

Frank Curzio: If you notice, all the greatest cornerbacks ever, Richard Sherman as well, they’ve always played on amazing defenses. Richard on Seattle’s defense, the whole defense was great. It’s easy to cover those guys when you’re getting pressure on the quarterback.

Frank Curzio: Also, when you look at the spread at one point, it’s really based on how the teams recently played in the playoffs. The 49ers blew out their opponents. They beat the Vikings. The Vikings are terrible, they were injured. Their top running back was out. Green Bay almost lost to Detroit the last game to lose the number two seat.

Frank Curzio: They were not good the whole year. Even the Eagles went into Green Bay and beat them. Those are two teams that are not the quality teams that the Chiefs beat. But if you’re looking at the teams and even if you go past the playoffs, look at the 49ers the last seven games. There’s no blowouts.

Frank Curzio: This was before the playoffs. They beat the Saints by two which was a great game at Saints, I get it but it highlighted how a good offense could score on their defense. Saints put up 46 points. I can tell you, the Chiefs’ defense is a lot better than the Saints. Saints’ defense is horrible towards the end of the year.

Frank Curzio: They only beat the Rams by three, the Falcons by a TD, the Seahawks by five, who was one yard away from scoring that wing TD. When I look at the Viks and Packers, I just don’t see those being quality teams that they beat and you can argue, “Well, Houston wasn’t that great” but they got back JJ Watt. They were picked by a lot of people to at least make the championship game at the beginning of the year and then they got injuries. JJ Watt came back to a totally different team.

Frank Curzio: Tennessee was a powerhouse, great running game, great passing game. Come on. I mean, their offense lit up this year after week three or four when they changed the quarterback. They decimated the Ravens in the playoffs. Killed them at Ravens who everyone thought was the best team this year and they annihilated them and what do you have? KC beating them pretty handedly.

Frank Curzio: The final note I think Andy Reed, he’s due. Being an Eagles fan, seen him lose many times. Made the championship game how many times, never made the Super Bowl, did make the Super Bowl, lost that one year. Had the ball in their possession to win the game and they didn’t get it done. That’s the difference between Donovan and Tom Brady.

Frank Curzio: But he has a lot of experience. I love Shanahan. Shanahan was the offensive coordinator for Atlanta Falcons when they lost their Super Bowl and I think he did a fantastic job that game, wasn’t his fault. But Andy Reed with Mahomes, with that offense and a defense that has literally gotten better every game since mid-season.

Frank Curzio: When I compare that against Shanahan and Garoppolo… Again, I know they have a great D and a solid offense. I just don’t see how the 49ers can win this game. My prediction, Chiefs win by seven, 34-27. My favorite prop bets are both the same person. I’m going to go with Hardman. He’s a wide receiver, you’ve probably never heard of him unless you follow football. Wide receiver for Kansas City, the fastest guy in the NFL.

Frank Curzio: The under over for receiving guards is 25. Bet the over, that’s only one catch for this guy because he’s lightning and also, I’m going to go with Hardman getting a TD. If you bet $100, you would get paid $325 if he gets a TD. I think he’s going to have a very, very big game. Could be lights out and it could easily run past those experience and pretty good corners for San Francisco.

Frank Curzio: So, there it is. Sorry if you’re not a football fan but you know I do this every year and if you’re not a football fan, doesn’t matter because all you need to do is take your house and put it on the 49ers and you’re going to have two houses and you can give me one, we can hang out all the time and I’ll give you great stock picks. Okay, that’s what you need to do.

Frank Curzio: Because I’m wrong, no matter what the stats and things that make sense, I’m always wrong with this game. It’s fine because my track record is much, much better picking stocks. But when it comes to this, I like to have fun with it and I love football, I love the Super Bowl and I know I’m going to get tons of emails when the 49ers are winning by two touchdowns at frank@curzioresearch.com which I always get of people saying, “Thank you, Frank. You’re so terrible!” Thanks.

Frank Curzio: I hope that happens, I hope you guys make money but honestly, I really think the Chiefs are going to win this game and by seven or more points. It’s just their year, everything points to their year, looks really, really good.

Frank Curzio: Guys, that’s it for me. Be sure to enjoy the Super Bowl. Relax, eat some great food, watch those entertaining commercials, enjoy your time with the family. And I’ll see you guys in seven days. Take care.

Announcer: The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decision solely on this broadcast. Remember, it’s your money and your responsibility.

Announcer: Wall Street Unplugged, produced by the Chose Yourself podcast network, the leader in podcasts produced to help you choose yourself.