Recent GROW transcripts
Associated GROW filings
Holly Schoenfeldt | Marketing and Public Relations Manager |
Frank Holmes | CEO and CIO |
Lisa Callicotte | CFO |
Good morning. Thank you for joining us today for our webcast announcing U.S. Global Investors results for the Fiscal Year 2018. I'm Holly Schoenfeldt.
If you have any question during the webcast, you can enter them in the questions area of the control panel sidebar which is normally to the right of your screen. a handout today's button. download on by may red the you PDF slides of clicking Also, The Holmes, U.S. for presenters today's program are Frank Investors' Schoenfeldt, Investment Officer; Global Manager. Chief Callicotte, and Financial Chief Officer; and and Marketing Lisa Holly Public Relations myself CEO
may that webcast, Investors filing statements forward-looking corresponding actual Form historical to materially are don't them Any update more pertain we business and in that and statements statements release future. made accepts risks about all factors the described subject that affect statement as to results. and in During to Global other could relative may any actual and XX-K forward-looking during no outlook. our differ for to obligation make this made our detail such Any today, forward-looking are refer this materially results uncertainties webcast to on Please statement. today cause facts of press from U.S.
Now period. CIO, let's go to overview Frank? of and an for Frank Holmes, CEO the
you, Good morning, Thank everyone. Holly.
known of markets, well emerging the for investment the a resources its U.S. registered first and and in history global investment investing in metals, Global see innovative vast first with now As including you specialized manager investment in natural advisor became is and expertise kind the experience longstanding products, an cryptocurrency is Global markets no-load Company a U.S. the Founded in as Investors like club, launching sectors. of has their Investors gold and precious and an fund. a investment XXXX space. global gold can visual
that that in debt-free, discussion. resources and stock go-to I’ll greater a weekly detail. about world, balance Even equity exposed increased challenging her our our Callicotte on We've digital as a with and dividend a a on we're reflexive basis. in it sheet strong markets, and fund appear. we remain in that And a cost talked emerging discipline. is strength monthly Our We return will explain very balance currencies Lisa cash that more mutual structure. discuss in
that generate higher returns on So, can make capital. focused we sure what we we're on invested our do to
thank Next institutional Royce & and basically are and managers. at Vanguard the all Michigan, Group want BlackRock please? Management. and I is which the the Associates, Group Perritt Management Institutional In fund index, FIM to Funds, investors, Capital Investment Perritt and The particular Trust, active Financial Royce top
So, thank your you and encouragement. for support
a of have X.XX%. approved dividends Next a please? the the it’s paying dividend years, quarterly discipline September by is For monthly we've paid XXXX. board. maintained dividend. the The that a The past reviewed we And but small modest XX yield the Board's consistently and are through
The Next $X.XX on million stock approved calendar Board please? of open the up XXXX. common of through its market the to market repurchase outstanding
down Company on and experienced of of XXXX, interesting, able a we to ended be swings, volatility have XXXX June extreme days. up For a A we the buy dollars. on seems using approximately toned $X,XXX X,XXX Class the use down. these to quarter XX, volatile club to And shares last both the quarter shares only repurchased huge calendar And quarter what's model
one program, or reason share suspend that's discontinue may at what's time So, realize, to less place. stock. we bought this important for in have repurchase And it investors why any we is back but
our changes more assets no accounting new Lisa's just tell detail go CFO, et debt. go Next -- Lisa strength, going overall please? portfolio explaining sheet to into Callicotte balance cetera. the more, on So, will and into our the
and the that few all big end in we had that I'll now minutes. these big in this little see investment describe corrected XXXX and is a can cryptocurrencies, you move HIVE Blockchain As with in our into which year decline more
we've volatile, year, it are they And volatility increasing HIVE on quarterly are. a place. earnings. see the details. can This And for So, we’ll been a can done probably that's as in better go visual we're this and of companies where investments earnings impact please? our Blockchain in basis. will us happy be taking is But, the Next more that you underlying
assets remain relatively whereas Average lots redemptions continuously mutual industry is of in the please? Next stable there funds. across
account investing to please? you. And see what problems. that's you into And hasn't this have stopped. it the or Next from domestic mutual to can this gone going shows ETFs at funds here, is visual equity Outflows going just have passive And separate concentration business.
know of the and market. was because yesterday. GDXJ in in just we flows, but a a of stock at that's perform stocks money what's not this happening I conference So, New watching point of good the from and York microcosmic because And
bad, not you be buying walking so will not disruptive and all a bids -- went accounting cost just XX% performance And what quant is is gold that the correction. it’s good to and it up the up that this how to all important, And the how for when a is and XXX. you manager zero seems just S&P going for is stocks, was to create And all of wake the it that through next saw best. the sheer of it is people big have best. was space over cheapest know the this GDXJ they I something we psychology to have that both picking don't get RIA When is And base on investing fund are passive And liquidity. when is performance rebalance to when money.
more of more that's, stock market And predominantly Next because of BlackRock, and fund, of well as mutual Street XX% the And money as this predominantly market ETF XX% money is flows, ETF flow. seeing all as money space. like please? All what just flow. just the capture State we're Vanguard than
markets. someone you than else. better of picking, cetera. processes sheer massive because But have It's tremendous has trying So, you the it the could rebalancing, there's money stocks They when best be just disruption could buy money to everything. capital benchmark, you ways what et there's flows better the could flows. nothing correction from just have who because good separation for you There's good a underperform happens no And picking players and all everywhere. being a or a out but are stock,
in has this the space. gold now negative narrative gold stocks So, gold other. more But I far is please? a leave like always negative investors, outperformed this gold. you century, the stock seeing on for just and mean, has X. continuously quite the the to decade, class, remind nearly than to that outperformed. did I correlate Vanguard gold to really gold know Next market it's asset an equity But, remarkable each Gold is particular pervasiveness is how X
Sharing now media insights cryptocurrencies please? the defending Next means with usually financial gold also. and
company like relative of to please? gold. trade, and which is right has predominantly I high dollar known rates world. Next demand, the So, and movements as that’s in a Chindia a GROW remind as love, interest high that the what countries other And a is investors China all comes trade that public correlation a strong love And now and around actually out of drives gold? XX% to to gold So, fear always there's India.
then Christmas love trade and we we gold. in wedding the of celebrations another Indian has season Next Ramadan, it please? lights, purchase with September, up starts And then Gold’s is to season, coming of wedding look these when pretty capita over And XX and have part New back prompting the the we'll of then rising -- then season this significant and Chinese Year. have the for the Indian And have per you in years. X, giving. rising years, with XX XX, GDP the countries pattern is back other XX, and over bullion gift consumption correlation cultural
Next policies precursors trade is we please? change. Now, but fear our government is, policies. the perspective whether talk to all government are And
significant Real and supply that’s basis to interest interest particular, in any monitor right on stronger ends the market and in talk we and stocks. with policy, be change this monetary drives weekly seems fiscal and consumed policy weaken rates we're try patterns And and seeing changing particular money is stock really what real strong and spending and corporate up most about but to rates making lower So, also the the the taxes taxes the dollar a factor, fear. dollar. the
something suppressed? never with of litigation spoofing gold quotes also next Sachs decoupling that space, in visual dramatically some were regarding getting made. as gold cases; should basically know the court don't We of we on of lots in that the alleged, allegations and being fell can gold all CFO week. you that come that So, there's and seen markets so around Goldman do crypto Next we that the have appears that Barclays, the major this bringing market they is drove involved XXXX please? out the is And the markets the And fake says prices. It of planted HSBC, supposedly know happened see market. they business were UBS settlements the out news of been silver that down. but banks Facts fixing against said they from
push whole against is this basically the of rational. price So, gold
of bank and in a something finance of and the these quite bank If the dollar kind shocks debasing watch. the me you're then $X has -- look that that and just like central negative get buying classes. be compared if EU a interest of printing the should the you're you but they're currency countries asset government U.S. the would a ten-year screaming. and trillion to together and a suppression bonds GXX not -- ministers, taking oodles we have fascinating U.S., It it okay currency loans to of doesn't it's like that's it so, take to is just evaporate unfazed makes basis, place really by Money government that it. off, is XX with they're But, it. non-performing give rates. gold against just their some Japan And there of believe alternative gone offering a basis relative points you policies On money,
we’ll as to take place educate stay litigation, shareholders. make and we have we sure So, highlight from our tuned. courts, more And developers
up with is showing CPI. you the one argument are and XXXX would say you over of prices that We more saw flying go prices, X.X%, our the from year back running whole inflation's like to XXXX-based XX%, me. This our of the suppressed feel went and auctions XXX%, tickets up by are basically because know X.X%. I to Inflation. is [ph] cash not no Global only are last XXXXs, It's at or that's CPI and X.X% but showing to please? rebalanced just dramatically, create that just inflation are process inflation, world one asset the shocks back you there's ETF, are up -- really gas is CPI. It in in thought using we price Next the people's all mortgages cost I factors it's where factors. housing was U.S. say see It this that there, that that of to the towards XX% if past I and the X.X%. the the all have up go the class, prices the flying as amazing the [ph] that not flow shocks overall of you food being chats, or
to go, restrictions just expensive, things environmental, extremely is probably technological continuously major the -- this Next one of to term until the be nothing please? peak lifecycles And markets, have you But there particular to very, gold. had production. been we able extracting came gold. able social So, makes any gold time mother very reach exploration positive to most for there's for significant in peak is everywhere the of long gold find difficult which emerging but the factors and breakthrough And natural budgets it nature's longer deposits gas. is expanded, the along, be
collapsed. gold have So, when because basically of big, exploration we didn't peak budgets believe they And anything. that they were there's find supply even
sentiment. as to see get you sentiment rally kind a tool an Next collection please? of to indicator. gives that into big a it, a factors basically components, -- different use can of like the trade the overbought going investing, idea you wars in Global And we over type here this. U.S. of it XXX oversold. a we for from So, where We positive and It's can see sentiment contrarian of
zero with insightful. wants were come many economies tariffs. and announcement rest Trump down field. Cornerstone it Macro very And over tremendously conference now a oversold, So, comments playing a the and is by again. the we out of the the then extremely countries basically world was yesterday, it's July I that wars attending of expanded President sells off. have very issue the of unleveled big an his And of was trade team, really out put they've very, short that rebound and This poverty, helped countries, happening time so the And was to then period and
President company and China $XX China the went to the which all thing same see cars, discretion consumer and to that Europe sell what unfettered to cars it EU field. unfettered to there dollar, on these made want the is and same went to immediately restrictions is and and I America growing. Trump the over trillion in they they -- So, tariffs Merkel trillion When sell $XX going with repeat Germany into tariffs but sell can't -- on into he's unleveled came because we on thing. it's into an U.S. slap has want America its American playing particular was but sell was can China. changes our is back discretion economy, Europe And
NAFTA, it every the fighting going was conservative with because important Clinton this there's over in to Perot around back. and deep economy, Mexico was more going it much state, there countries. is battle Swamp, tariffs. ways and Ross China George basically lots that that conservative to place the going they call in XXs actually was in big is if predominantly I discretion voted zero the a hurt in that are a the you sector about Perot beat has be tariffs of or failed. vote. concerned think the who that unfettered XX% I comprise having to the the the other And particular, Bush political early him. is And into done And Drain regulatory lot policies about then, out of Senior to of conservatives rhetoric, the on WTO of fiscal [ph] And what's deal want battles come Trump there these have conferences of of the was push he selective He are being and very either supported And Ross So, or be all President based back. garnered regarding policies really
they’re on a party, this that is significant about And Obama, so China, similar vote, we of that voted more sort we narrative voters. strong they leader and vote that’s And not think can help national is XX% economy. place. India, believe [ph] Modi much this. nationalization we're America, Perot but something loyal concern. taken leadership, written not change so -- shift that of captured that That to saw to with nationalism. And to political much helped but to to We've the seeing swing in the happened Ross there something And global than global, that's to Eastern Europe, a
continuously to than to with And money just But pivot consumer Their next the much as managers so, going And smarter have is of we're China. on these sentiment now. what this battling economy able we'll be changes. throughout rebounding ours. happens see is so level to
ongoing are we need need renegotiate more is much us need in through, agreements. has of Trump they them. consumers really to the argument be believes than leverage. And President sell able America ability He they his that to so, where And to that's the
tuned So, markets. let's just a publish sentiment with that indicator. we’ll the basis, But, in stay on this regular capital
business can model, Next? royalty talk of big ETF which been presentation. download, several had And valuable you the Metals, Randy investor, about slides webcasts, institutional Precious supporters We’ve see company are to audience. a hosting We CEO of. Wheaton of Smallwood, the reaching recently we’re RIA credit you types if
dollar pressure extreme, have recommend we’re understanding those please? whenever strong you tremendous read gold a for is rally. But, expectations osculation. got managing big dollar, for it’s And whitepaper. go and them weak website relationship a the I of our there due recognizing math, gold. to spreads The one Next a And inverse get behind to highly to about magic going capitulate.
for here it please? the increased going narrative and the approximately S&P what’s same gold then volatility volatility. the the What’s expectations, media the markets stocks, riskier same even greatly. bullion the would that to year is is daily is here Next one is is interesting you general like is as that that remind I Management volatility, S&P look rolling the out when is XXX. to are ball gold the the number be factor stocks step And that gold important another at investors and or has in look at prices though you and But volatility emerging volatile. actually oil what’s and very oil, volatility is are the
please? Next take last But, on periods X concept a expanded it’s Bitcoin ten-day the daily has of basis actually gold. greater little we of and a Bitcoin factor greater, to Ethereum, we When a the the to of Ethereum for substantially in times see understanding this can volatility and while. one-day X
last suppressing of the selling And global not that billions in please? the on events October. SEC was that July, to it’s securities, I It synchronized is is up the in come regulations, policies helpful there’ll till some of price raised dollars will were Next of headwinds year the and the utility And of coin. ICOs predominately delayed Bitcoin. Major very be. that next GXX what cleaning that but of month, coming was thought for these been think, process be really it regulations a now supposed
clarity some So, I whole there, world crypto think will then is that once this change.
is positive over the recognized real we’ve you that that exam. the CFA it’s your get world. CFA, Some all seen When parts of see
to respected highly exams. they’re world. going including is over and to the reversed the and and But exam start tough practice degrees of pretty a on sets the to they’ve with degree now, et that that accounting law redo exams cryptocurrencies MBAs. cetera You have And on get another and their recognized jurisdiction, CFA U.S., certain ubiquitous the thing position you in is same your your go all law society
In Facebook position addition, reverses of crypto advertising. the
I So, a bottom think here. slowly finding we’re
of In popular cryptocurrency please? a signals cryptocurrency’s to Federal its June of this Next Reserve Louis the Federal continued Reserve added year, This maturity. Data. St. Economic
Next to slowed excuse only XX continued before, million, to -- grow what as to billion. what at three please? grew grew but down year which Coinbase as $XX It do. I’ve company has just a It years rate for it's than it three took incredible customers, $X a now were Schwab grows years was modestly ago. the mean valuation -- get ago what in me five we saw it we mentioned in -- greater an Coinbase faster years years the growing I million. attract XX million a years is saw second, amazing that XX Schwab take get XX than and
negative growth been So, strategic forma, in bring Bitcoin will this immense. looking And but Recently, it down and pushing that a you Technologies. is rapid huge numbers But reset. something Harry of when a a dramatically itself, and a flow, cash it's was Board. Hopefully, Chairman would $XX,XXX have can year, Blockchain the rate new volatility coins. be CEO HIVE in Pokrandt the happening basically pretty visual? with are has active XXX the have see In world. that's January, HIVE’s investment. became on investment the And the next And to I like next became as U.S. not these in pro all forma, come huge, revenue. we've visual. the us Ethereum for of best search It's there's this X,XXX last the been pro would Well, resolves potential, It's crypto be because these revenue. made price a were run The time for announced away. [ph] major Global going Chairman retired. the the of Executive I Chairman, way
about this to down you maybe $X take $XX of fact, But week, next close with week, experienced dramatically. rebound this'll -- another In it million this -- we've week. can worth it million if probably decline
regulators can security of and of forms globally. space. to There's globally. world trade latest to it Ethereum that it. So, you that that on to different of technology money up going HIVE But, adoption tokens I Blockchain, very coin. the don't volatile that Mauldin want grow. a be probably want can information this was road that's there. able millennials do stocks Iceland think on sort we going Pokrandt. of to to read with be HIVE see to part trade year, realize just hours. the more sign trip going John we're Blockchain, for there, They to the down currency. in trading world is believe I take Harry They are But, the And limited we start There real that get more and XX/X. had to about is to mining there the Earlier regulations want you are But, of have
creations. It’s process next very JETS a continued success. been Fund. which and for redemptions. spectacular product. a But can then oil When Galileo [indiscernible] Canada addition average, And in launch you has investors. launched HIVE, Global the And That launched with still as only a goes over the work. the was moving Now, new above And go being beta. its into falls on really we the mercurial exchange mover with ETF stocks credit ago. Partners they a But, stocks in [Indiscernible] XX-day rise, When it's the for rolled and thought going the XX-day visual's that price U.S. oil of its see it to to we we stock space. it's is average, growth below gold airlines equity but crypto year now advantage path in then, did can get smart performance, JETS of moving of to GOGO, fund's we on surge, first the The early, first Fund see as closed also fund. oil.
to do million. important; through commented by to We in of investors traffic hours X,XXX before rigorous We under regressional proud pharmaceutical launched and analysis the anticipated. the being think just we went to outperform product. comparing that we're it approved company drive it launching show ago. product for what I that's a work, relationship JETS, recognize it's did GDXJ. FDA. year set XX% grown on our like has that So, the a along GOAU, further a and is Back it's testing GDX we very that’s skill And it $XXX what we’d investors. the it’s we're approach. active disappointed hasn't of very that our with But exactly degree did. for the quant We're it launch do done thrilled And that time, thought basically would outperformed and which far the would and to
So, and performance. we're our has work gone that modeling shown and happy our in the its capital markets
both long new Canada So, from and because significant. HIVE. year-to-date, lot quite a funds GOGO, one-year about in it's talk had winded been new I launching celebrating I've celebrating very one-year HIVE, to and products, from of of
turn like to now, it Lisa Callicotte. So, to over Dynamite, hardworking, Mrs. I’d
you, Good morning. Thank Frank.
fiscal the Limited, comprehensive Slide At U.S. treatment income XXXX, gains shares available in recorded unrealized losses discuss Investors of during to were shares direct a subsidiary, related from this fiscal securities these until I and June sheet. through wholly-owned were of year. in on other sale accounting XX, in operations, sale similar excluded shareholders' next on investment HIVE, million earnings HIVE. the Canada and our and as like changes Before balance available USGI, Global summarize in of will XX. I'd separate and how for owns directly And realized. securities component for our equity XXXX, included to its be investment results recorded XX investments
our to accounting our accounting in the changes investments due new summarized have We rules.
Assets Financial update standard Recognition Liabilities, effective Financial of July accounting adopted X, and and XXXX-XX Measurement ASU we XXXX. So,
earnings. year for fiscal a fair value. no starting our be investments, income reclassified changes July investment in recorded So, formerly in than sale our the in of [technical with and this corporate cause include differently. of unrealized this effective and XXXX, cumulative as longer out for as market will adjustment any thus, through comprehensive rather accounted readily anticipate changes for income And X, be difficulty] $X.X will comprehensive of Company's in And investments and income. equity of fair classified securities part to of cumulative determinable volatile. retained in XXXX, into were net these gains investment And the our available required adoption will earnings a HIVE. We available value will be effect There that net for sale some an classification income value our million more
due $X.XX income mainly the group Now, year costs primarily assets and increases compensation operations other insurance $X.X to year, XXXX. is in We ETF recorded to this page Under fiscal which the income loss XXXX. in for year offset compared million. to method from administrative slide million XXXX, year for primarily in for net we Operating recognized due $XXX,XXX from redemption. fiscal due Net realized year million or or was costs gains, XXXX Investment share that for that million. equity earnings. and or -- loss $XXX,XXX income or was And costs; $X.X $X.X This the per compared operating the an per XX%, in XX in and of accounting. fiscal of increased in for X% On change general of positive of bonuses somewhat accounting, to decreased increased from fiscal XX% net in due and related we equity $X.X and results security $X.X by trading and $XXX,XXX taxes or of an $XXX,XXX These share, see a of were were operating Galileo impairment $XXX,XXX year fiscal which for Employee In fiscal per million primarily I'll to increase income prior decrease year less of at was $X.X in recorded increase increase million unrealized share after XXXX. each a discuss increase of to losses. increased our million losses related was Company for USGI revenues the is XXXX. $XXX,XXX expenses gains investments for made the XXXX, the methods $X.XX under the to the $X.X $X.XX new securities Fund; equity net two in we were loss or million loss million. in for $X.X $X.X to of and of losses fund’s on management and decreases the accounted $XXX,XXX or income Galileo reasons. Funds Also difficulty], under investments benefits shareholder following is expenses fiscal $XX,XXX. to attributable [technical and share XX, on
we up mainly total investing $X.X make onto that cash a and to it And Moving to activities. still by XX% balance And sheet. cash our a provided due strong high was We approximately of see security level increased million, page XX. have of cash combined assets.
As page The it working have long-term X.X to turn net I’d you over of to like X. a of Company on still that, Holly. can no current to $XX.X we see XX, capital ratio has million and With debt.
Thank you, Lisa.
As can domestic and majority our slide equities resources are fixed XX, of a in and on fund emerging in assets income. markets starting see, natural while are you XX%
As investors more quarter three investors. retail and for the from our distribution, from of assets come than quarters other institutional
investment about writers and with thought our our financial over gained around XX with Canada, his Seeking with Holmes' he followers male Facebook, features the gold and continue a I Live are XX from media publishers. shares interesting. resources, have several loyal millions News, Frank to shares Game demographics as continued years including millions the content our third-party about we site ETFs. trending [ph] pleased to subscribers Kitco also recognition some an on newsletter sharing keep visited concentrated have And information because and Star. look the well more world Our to grow over invaluable some our statistics natural with visitors. audience a similar Newsletter. in Twitter, new show's Holmes Frank visitors, sales efforts and own expertise to marketing believe to video shared third-party Frank receive syndication of beginning, of and website our by few. to In call Morning Back investors emerging Investor to Frank well dives since into in thoughts implementing videos, usfunds.com. with as short Talk market have we their a And News be which of funds are witnessed events website for series already year members and of of with these Asia, of our education. Radio as Frank and monthly visitors and amount feature many week to We while continues our is Blog and find interviews. Instagram, the to are offer decided award-winning mutual the I'm continue and they on a along Company our Alpha, market the markets we’ve recently team Talk Frank launched biggest matter XX continue as featured investment the with is in we commentary difficulty]. we of to Blog, since Blog, from which a with gold, The Frank higher our We just publications XXX and well in to Primarily Alert Holmes We usfunds.com. in new financial as written receive their of recommendations syndication Forbes, can likes our Investors episodes The our no an focus influential received Crust Lipper financial show and of feature our the Posts over between leadership on and and Business sites an into globe Holmes numerous Film come outlets well. actually [technical page the other Kitco most in Frank through viral website and website by team including analysis. aired. to supplement moving of we quite partnership YouTube CNBC by LinkedIn, awards name were our month. visitors insights to with that in. of as publicity slide Holmes million ages our And newsletters world frequently well kind Street they often the mind each us, majority December, And what his those funds and increase original found by prominent have have often on We gold Bloomberg charter travel interacts Gold the And as appreciate years, through monthly as to U.S. Kitco, Talk the visitors The following along clips. CEO he His Pinterest. receive others popularity award-wining as share to the on YouTube Talk topics. Frank Insider on like similar funds to
the in Be XX Gold will The The you this Countries To was To back And most that What viewers The potential us number X XXXX, three; Move receive Percent; It include our brand Does to shares. it actually of posted lots reaching articles Top clicks Everyone coverage Largest Why Reasons two, see of one, continues and but Take of here, With number visited Reserves; investors. number by readers, leverage Wants millions Top and Texas, which all and Ten to So, In helps
June visited was investors leadership. all Alliance, more excellence adding several and Investors awarded well-known Overall times the Mutual from the recognize Fund Global STAR Communication insights XXXX, three of category. in the the over MFEA market small education. been investor The curious XXX,XXX from through Retail usfunds.com of awards has end for website thought by Awards over US Best balanced at of our Our funds including XXXX within by Company timely Education STAR The and XXXX world. is June
one are the the Talk. to was has charter. awards Blog our first and numerous very XXth received Association's this STAR anniversary Marketing also electronic This a award investor years. year, Whitepaper newsletter was year, best free been alert of earned we Our Trade local the total company times. newsletter six awards. by To-date, by Frank has And also Talk MFEA of from recognized the celebrate weekly our Love Gold proud of Company fund the the named distributed over for mutual Frank CEO a the blogs an American XX has very
sign have We Frank alert at and subscribers surpassed XX,XXX receive e-newsletters and as can subscribers alert, up to XX,XXX usfunds.com join who the award-winning well blog. over advisor investor the Talk. as Investors
it open And to would up now questions. to like we
one recently first of both? of direct questions a a already. enter control says, more can kind you have panel the you. we And more the see I'm to Frank, moving this, in or have here of to the with And reminder, GROW Bitcoin or on your minutes. as you is few We the two or going do screen. a one It price combination price of gold it
volatility both. But, in with the that year quarter last HIVE. crypto a think, of the fourth daily appears is do I this to the has XXXX of the combination exploded volume It space. in investment with
And a from volume trade Ethereum proxy. went or GROW lot Canada that a quant to a do up that exchange, an they've Our into going exponentially. or as funds are than has in been through with desks that of Bitcoin training I using also. just And heard institutional Coinbase rather
think So, that both. of it's I a combination
Great. what for mean one does And and for this what commodities, gold another is you, is for Frank, next and GROW?
to that going such passive products and And with I earlier to product, crisis. a the products, GOGO -- as out and Well, create is be coming the as space. for Canada new there's the important gold going is mentioned investing think, in I U.S. that innovative most part for GOAU
took And just and up how, stock the has and versus particularly the nothing do It what volatility happened [technical fund don't so, know greatly. do I flows. GDX that good is but stock, went know at that to -- GDXJ difficulty] with GDXJ, from place we cannibalization that
GOAU always there's flow products, us that dollars part that from starting of other a other quant $XXX starts million, think these approach, of of having just I money selective gold to to that to marketing. off at inferior grows but positive this cash which grow. a is is that you show the throw hopefully stocks cannot billions And And So, flow index. this for continue to wonder [ph] perform
argument. The many gold But, having the is be is of And better are fund of dollars, because to on cyclical point zero. the that going a they're their cheaper other to first XX% mover of basically into billion investments stocks fund to and out stock which process being thought gold, so and flows one expense gold like go and marketplace of such Vanguard, change just to driving gold fund with to -- gold selling now, we'd was they ratios product. basically mutual a advantage down in And weighting a captures key. indexing the $X billions were seems the
equity still policies year. it protection gold stock products. maintain we think space XX stocks is be cheaper XX% we and outperformed, is basically well-positioned often X, healthy gold flawed to grew for and gold provide we're then, we we this but X, because that that investors. years, in governments. outperformed imbalance, allegedly fund it because helps was the the so sharp gold for X all We to better, think what us a it’s the have by overall fiscal other is monetary that a to ratio; And your superior balance and Vanguard It weighting helps the and fund able -- shares argument And gold our so, bigger, against once
what that's to do. we have So
divide comes XXX and as total S&P at Maybe the we're index commodities. definitely oversold The are the other Goldman part an and that to overbought, return take it when really factor a troughing it oversold by to is equity a versus at we period. Sachs
believe of any growth for is demand. long-term up. it commodity we we will global the recently sustained all for do believe, Claus trying and And the pick road basically, Silk type demand Road see playing to so, we’re Africa constructive to commodities And this Santa that very on sudden,
with we bullish. so, remain that, And
for will Thank XXXX. that, fiscal Well, our right. your you presentation for website this The at for usfunds.com. concludes Investors participation on all Frank. today. you year U.S. All Global be available Thank webcast Great.
Thank you, Holly and Lisa.
Thank you.
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.