Here’s the headline of an ad that a few folks have been asking about recently…
“The man who made $4 BILLION shorting the housing market in 2008 goes all in on…
“THE BIG LONG
“This same legend just made an even bigger bet on the crash of 2020… only it’s NOT a short trade.
“Instead, he’s betting the house on a virtually unknown gold miner.
“And my research shows it’s poised for a historic 10,000% surge… in the wake of a new gold bull market and coronavirus economic fallout.”
The pitch is from Nick Hodge, in ads for his Wall Street Underground Profits ($99/yr), and it’s an aggressive spiel about how his secret billionaire buddy, John Paulson, is piling into a gold miner:
“… he’s going all-in on a tiny gold miner that evidence shows could surge 10,000% as this mine gets permitted and comes online.
“And it doesn’t matter what the Dow does, or how long the coronavirus lasts and the fallout lingers.
“It doesn’t even matter the price of gold.
“Because this company is sitting on what I think will be the world’s biggest new gold mine.
“And NOBODY knows it.
“Nobody except for him, company insiders, me…
“And now you.”
This is, as many of you will already realize, yet another pitch for Midas Gold (MAX.TO, MDRPF), which Paulson & Co. has bankrolled for several years now. And this ad has been running for about six weeks, I first saw this version right before I went on vacation and included a quick note in my Friday File as I headed out the door — so for those of you who aren’t Irregulars (for shame! Didn’t your parents teach you any better?), here’s what I wrote in mid-July:
“And finally, I just have to answer one final question that a few readers have sent in — yes, the new teaser pitch from Nick Hodge titled “The man who made $4 BILLION shorting the housing market in 2008 goes all in on… THE BIG LONG” is indeed just a mildly updated tease of Midas Gold, a stock he’s been touting for at least 2-1/2 years — I covered the original version of that same ad in January of 2018. The John Paulson connection is not new, Paulson has been a major backer of this company for several years (though he did ante up more cash early in 2020).
“The latest news is that the USFS will be releasing the draft Environmental Impact Statement for public review in August, which is not a surprise (they announced earlier this year that the latest delay meant it would be released “in the third quarter,” and they still expect that environmental permitting process to be completed in 2021), but otherwise the story seems about the same as it was when I covered the stock for a pitch from Mark Skousen back in May or, a little earlier, when Hodge’s colleague Gerardo Del Real was