GROW - Earnings call transcript Q1 2018 | U.S. Global Investors, Inc.

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Holly Schoenfeldt

Good morning. Thank you for joining us today for our webcast announcing U.S. Global Investors' Results for the First Quarter of Fiscal 2018. I'm Holly Schoenfeldt. [Operator Instructions] Also you may download a PDF of today slides by clicking on the red handout button. program Holmes, today's for presenters are U.S. Frank The Investment McGee, Officer; President, Investors' Lisa CEO Counsel, Susan Chief and Officer. Compliance Global General Officer; and Chief Financial Callicotte, and Chief

statements filing more affect this today to today materially statements uncertainties about detail future. press XX-Q statements. that forward-looking During Form no cause to risks actual and statements differ as factors and don't such and corresponding webcast to other could Investors actual that refer the during all may accepts from obligation our facts and pertain release we make of to statements for our Global are business historical results. made Any in to outlook. on U.S. in webcast, results Please relative Any update described any this that materially made forward-looking may forward-looking are them subject

overview Frank? let's to for Frank Holmes, CEO CIO, and period. of an Now, the go

Frank Holmes

Thank you, Holly.

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Frank Holmes

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And so [Presentation] question asked. the we it what always get is bitcoin, big is as

Frank Holmes

that So question people been a a spectacular this it around it’s And Law is next was bitcoin suggests mean? math number while that be crypto question what does a for it the not must the price because at of to the could has and ask capped company. of bubble. It's print good was limited realized bitcoin is, value basically, cable to a from and Well, run that government this to bubbleology What so move. points, and pricing continue keep and it's that well incredible money. explain like had have Metcalfe's

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Next visual. [Presentation]

Frank Holmes

company hedge I'm and and sell you just And very have with opportunity public and answers. it's my is the corporations look behind know Genesis and that We mean ask, to and the accept and and on is investment there date about of I as this you currencies the January basically in way to to best flow on and it very stock very a Mining trading When thing I want to liquidity world and Silicon you. that’s of a as this company, this more in a me of model, I But they be back you this predominantly theses York is no the royalty company are floated what so also revenue that is insightful the rig, informed embedded playing funds, don’t really watch when and opportunity. a it's small that’s other become operating to Thank New this XX biggest I cash can February went believe $X.X pretty and it type as think if into And public cap. Valley Valley. funds Silicon so hedge first going it go this myself, share exchange well a system why, billion no clip huge market company. clean is investors look they now and is reminds earlier do, there particular basis its and and excited generating we this there on volatile, the we model, is as I And investment made.

to more going of our to And income so then with, you turn the I'm Lisa balances. detailed give analysis to Callicotte CFO, financial over statement any and

Lisa Callicotte

you, Thank Frank. morning. Good

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Frank Holmes

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Lisa Callicotte

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Susan McGee

Thank Lisa. you,

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So it now to up I would to like open questions.

Holly Schoenfeldt

and you And Callicotte the the do audience, as Lisa going a to I is. questions which have lock a give HIVE's of ups that our to your you panel share? in are am to can on we few What already, reminder screen enter questions the the first and control on

Lisa Callicotte

but tranches subject that multiple investments. they of million differing HIVE Partners One through also and the owned The kind XX two Galileo listed of and about regulation. that are actually different mid those February and is shares has restricted have insider to XXXX. it directly have Like XXXX, we fund to Canadian until going restrictions is be

Holly Schoenfeldt

space cryptocurrency Can kind and worried can is go to Frank explain? on it he that bubble. Another you touched of and are one I briefly, but you bitcoin a

Frank Holmes

a there's in I Metcalfe's as and showed played couple cetera, space is they and they're see behavioral back law Bloomberg which Reed's And most earlier, think that was that Law finance, charts and Metcalfe's I as he the up on he's a charts. geometrical on Reed's Toronto, another -- recently Money really commenting called these of a charts, linear it’s Law presenting to so this commented I and was Matters logarithmic this you based Ph.D. weeks law of not in there interesting Day said on me. et are Investor we

a chart, bubble. a course. a this looks logarithmic plot it's on you normal it So When

and and XXX-pound history the Google the question there XX dates Facebook There I so out it’s out survive? many I great to history. out, of Jeeves, no nowhere a companies in Who Google back came almost industry always think mean That’s like So was are gorilla. they're grown. there Yahoo bubble. don’t when Ask Facebook; came like XXs. the became just the years, relative

what’s I I going and a currency. will think, wants see own of think to currency this don’t countries have idea around and So survive, cryptocurrency, get now, push Putin more by digital are its a going we to -- more currency, you’re is and know governments. which there to

lot think bubble believe looking don’t out a linear I of it’s to agree at just So that from a people line. a

Holly Schoenfeldt

exposure affect Lisa. Mutual all? directly for Another HIVE question at to GROW's the Global Funds Well, U.S.

Lisa Callicotte

fund Well, including our Funds USGI Global is that invested not Investors the own do shares the some fund But we ETF Canada HIVE. HIVE. in and of to U.S. are the that Galileo in of

Frank Holmes

in only that’s Funds in the U.S. sort you easy not money groups. like in of upon fund start regulatory write make it's can a to this in that Canada put responsibility to U.S. money, funding Canada for you other that have not client think it’s is meeting but a the Board that for different it mutual do the don’t mechanism I day and formation is differences only the the broker and purpose special-purpose And Mutual talking with credit fund check. regime But create rules front. the of like The the mentioned the is it’s special investor in dedicated that, a $XX,XXX, on here investors. is can That just to And that Canada massive put a it’s platform credit we they to

just different it’s mechanism. a So

that, And guidelines so for rules. they set different and have of a

Holly Schoenfeldt

Lisa. for any HIVE if question realized? more be One gain, When can

Lisa Callicotte

will Funds actually realized regulatory as discussed, Partners to the are we the HIVE's there to and have gains. and And resell to restrictions shares USGI related restriction. Well, order in sell

timing realizing this at the really of determined cannot So be the gain time.

Holly Schoenfeldt

for mean With think away shifting gold funds attention from that year? to for question each many your bitcoin, mutual what investors last to you get gold in Frank. One do so

Frank Holmes

gold. ICO I really think the not a that is threat this market whole to

think I investing. more to a threat much it’s

millennials, crowd that funding much a tolerance for so have days account waiting rules just now And lot trade doesn’t versus boomers. mentioned in it’s as many it’s trade. to, open trade big linear, checks a than two we thoughts to whole place it’s phenomena just they to it’s I bigger the earlier, that and retail ICOs could think bigger baby inexpensive so of a taking have XXxX, I and

hock-up have sites. You

they're overall you absolutely are box, it's And they the a people, They smartphone. the move, have from you to the just what You Most bleed just can't changed more and something, able money than just popular one values friends place numbers millennials world. sort and demographic want smartphone? believes with so asked there to of they you own your when very it's I they able we they believe want experience now run have And world, over sell, portfolio witness taking age, patterns, because funds, XX%, and can all get all And to of have they start how then to from they it's predominately $X fast they And recently oblivious on have question are I've be buying, San city, this how Antonio a transient whole your there make social specially so out patterns being into your of have talking in are. you it's company. trade you managers move Austin can can or most get investing this -- different when smartphone. about all you put the have stocks, want patterns, noticed asked money, spending LA negative. my and talk in they're from to fast travel their dramatically. my of to stuff, who be And to how Genesis they renting are you they of simple, from around portfolio can social in mutual to your sell, is do out can billion fast Susan, move the their move your don’t remarkable oblivious, to out, your you bigger from and to world. are

Susan McGee

have app. the I

Frank Holmes

you'll hear Yes, people not just many and sorry the it's it. apps, that

delayed it's to So to as rather documents than and evolve world gets excited note of and spend just I'm trying different product $XXs get a to and most disappointment $X,XXXs there. try it and $X,XXX however get was because important legal

trades Fidelity shares in of gold liquid. I million you We stock the were stock? I was very and participating are day, in at and X so this traded private has sector, is month million can and that stock mean the are the they Do see in bought that average funding. XXX if now like been huge the have at XXX it's mean price past know done in trading and shares, participants Institutions come placements $X.XX have very, liquid. filings that the of you

I before XX first and million, it's something a to I'm now billion. But where several seen important So XX meeting, over I that recognize, mentioned would really mover billion extremely happy million, X know. is it I this think like I've goes, that's and there is X it on

Holly Schoenfeldt

available that quarter webcast you presentation be in today. for participation you U.S. came website Thank your the the Thank at will Investors concludes questions and Frank, for for www.usfunds.com. on XXXX. the first of This our today. you, Thank all Global This all

U.S. Global Investors (GROW) 10 Nov 172018 Q1 Earnings call transcript