Among the biggest contributors to the bitcoin rally is the hope that 2020 could finally see institutional investors move into the digital field en masse, prompted by growing client demand and more attractive ways to get exposure.

One of the biggest concerns some investors might have right now is that the U.S. business cycle is maturing and possibly reaching its “natural end.”

On Tuesday of this week, the U.S. dollar experienced a “death cross,” a bearish signal that takes places when an asset’s 50-day moving average crosses below its 200-day moving average. We haven’t seen this from the greenback since May 2017.

The U.S. manufacturing sector contracted for the fifth straight month in December, with the monthly reading from the Institute for Supply Management (ISM) hitting its weakest point in more than 10 years.

I’m optimistic that the U.S. will stand as a beacon of freedom and opportunity in the 2020s and beyond, but with more and more younger Americans supporting socialism over capitalism, I believe it prudent to proceed with caution. That means making sure you’re holding some gold in your portfolio.

What were the top financial news stories of 2019? To answer that question, Frank looks back at his five most visited articles from the year that was.

Imagine you wake up tomorrow from a three and a half-year coma. Everything that’s happened in the meantime—the election of Donald Trump, impeachment, Brexit and more—is a complete mystery to you.

Boris Johnson’s victory bodes well for Trump in 2020. The British PM’s Conservative party toppled the so-called “red wall,” winning seats across rural, working-class North and Midlands counties that had for decades been considered safe Labour territory.

It was the best of times, it was the worst of times—for American trucking companies. This year alone, nearly 800 U.S.-based trucking companies have gone bankrupt. That’s almost three times the rate as in 2018, when things were looking remarkably positive.

Predicting a major economic or financial event—whether that’s a recession, market downturn or even your own retirement—requires that you also take action. Otherwise your prediction was meaningless.

“This is not QE. In no sense is this QE.” That was Jerome Powell in early October, answering a reporter’s question on whether the Federal Reserve’s intervention in the overnight U.S. repo market constituted another round of quantitative easing (QE).

Investors continue to question whether US equity valuations are too high, particularly for growth companies and versus other global markets. But standard valuation metrics don’t tell the whole story. Understanding the cost of capital can provide essential insight on valuing stocks.

One of the best ways to “supercharge” your gold position is with precious metal royalty and streaming companies. Think Franco-Nevada, Wheaton Precious Metals, Royal Gold and others.

It’s the top of a new month, meaning we get to see the latest manufacturing purchasing manager’s index (PMI) readings. And if you follow both the Institute for Supply Management (ISM) and IHS Markit’s reports on U.S. factory activity, you may be getting some mixed signals.

As Thanksgiving comes to an end, and the busy holiday shopping season begins, here are some need-to-know numbers you may have missed from this past week.

Flying in the face of negative economic news, U.S. factories picked up steam for the third straight month in November.

Although the PMI report is encouraging, there’s still reason to remain somewhat cautious long-term. The latest accounting of global debt levels was just released, and the news might be so bad that it’s good—for gold prices, at least.

Quick! What do Hong Kong, Chile, Ecuador and Lebanon all have in common with one another?

What can advisors do to be more transparent or communicate better?

The media’s inequality narrative completely ignores the fact that the global demonstrations are, at the end of the day, in response to government incompetence and failed socialist policies.

It’s hard to believe now, but the very first Singles Day in 2009 generated only about $7 million for Chinese mega-retailer Alibaba. No one could have guessed then that, 10 years later, the 24-hour shopping event would see that sales figure surge to an all-time record of $38.4 billion, an unbelievable multiple of 5,471.

This is an absolute monarchy we’re talking about, after all, and so global investors should not expect to have any shareholder rights. Aramco’s board of directors will have a fiduciary duty to MBS and any future monarch, not to investors. This has some serious implications.

When Colorado-based Molycorp Inc. filed for bankruptcy in 2015, the U.S. lost its sole remaining miner and producer of rare earth elements (REEs)—those inconspicuous metals with unpronounceable names like praseodymium, yttrium and gadolinium.

Investors may assume they have adequate exposure to gold because they’re invested in a commodities fund. But many of these funds have a relatively small weighting in gold, and so their gold exposure is much smaller than they realized.

The U.S. stock market has been hitting new all-time highs thanks to lower rates, positive earnings surprises and optimism that a resolution to the U.S.-China trade war comes sooner rather than later. But don’t let that distract you from exciting things that are happening in overseas markets, specifically in Eastern and Emerging European countries.

Guggenheim’s macroeconomic team is predicting a recession by mid-2020. We discuss the underlying drivers of this forecast, the steps the Fed can take to address a weakening economy, and how advisors should allocate for the period ahead.

Investing includes psychological aspects, but what are the practical behavioral applications of investing psychology? How can you use this science to actually help your clients and grow your business? Training the Investor Brain 2, brought to you by the Brandes institute, will bring pragmatic tools and techniques to make a real-world difference for you and your client base.

Join co-hosts Bob Schmidt and Dr. Frank Murtha for this insightful webinar. Bob is Manager of the Brandes Institute. Dr. Murtha is a psychologist, award-winning author, and co-founder of the behavioral finance consulting firm, MarketPsych.

What was once the world’s largest commodities hedge fund is officially closing, creating new opportunities for some investors to get exposure to raw materials and mining using other funds. According to Bloomberg, Blenheim Capital Management’s CEO and chief investment officer, Willem Kooyker, is calling it quits after a 50-year money management career that made him a legend in oil, metals and agricultural markets.

We focus on fundamentals such as moving averages and standard deviation. We follow leading indicators such as the purchasing manager’s index (PMI) and consumer confidence index. These factors are many times more effective than the headline news at shining a light on the right path.

What was once the world’s largest commodities hedge fund is officially closing, creating new opportunities for some investors to get exposure to raw materials and mining using other funds.

I remain bullish going forward despite signs that the world could be facing its worst economic slowdown since the financial crisis. The reason for my bullishness is simple: Bad news is good news.

The rich are getting richer and the poor are getting poorer, and for that we can largely blame policies of envy that increasingly restrict investors’ access to wealth-building instruments.

Tourism has traditionally helped peace and understanding spread across borders, and we’re hopeful that it will do the same today. It’s also good for commerce, especially for airlines and the travel industry in general.

For reasons unknown, October has historically been the most volatile month for the stock market—by a goodly margin. Between 1950 and the end of 2017, the S&P 500 Index saw as many as 362 trading days during the month of October in which the market moved up or down more than 1 percent.

Volatility has increased this year. How can investors adjust without losing equity exposure?

In the past three years, oil and gas discoveries made by conventional means have fallen to an incredible seven-decade low. What’s more, a “significant rebound is not expected,” says IHS Markit. Find out what’s driving discoveries lower!

As the People’s Republic of China (PRC) celebrates its 70th anniversary, manufacturing data shows that factories in the world’s second largest economy improved marginally in September, despite the impact of the ongoing U.S.-China trade war.

History shows that presidential impeachments have had minimal impact on markets. We believe there are bigger risks to consider, including a potential German recession and record global debt. Against this background, gold can help improve a portfolio’s risk-adjusted returns.

“I think gold is in a good place,” Pierre Lassonde, co-founder of Franco-Nevada, said this week at the Denver Gold Forum. Looking ahead 30 years, Pierre believes the yellow metal could average $12,500 an ounce—and may even hit $25,000!

Gold may be off its 52-week highs, but the precious metal is still up more than 15 percent for the year through September 17. This appears to put gold on a path for its best year since 2010, when it gained just under 30 percent.

The price of gold has beaten the S&P 500 Index over a number of different time periods, even the century (so far!). The yellow metal, however, has also outperformed arguably the greatest living investor, Warren Buffett.

Beginning in 2010, central banks around the world turned from being net sellers of gold to net buyers of gold. In 2018, official sector activity rose 46 percent to 536 tonnes – the second highest level of demand this century.

The trade war between the world’s two largest economies entered its 18th month in September with the U.S. imposing fresh 15 percent tariffs on $125 billion worth of goods imported from China. China retaliated in kind, but a breakthrough could happen sooner rather than later.

For fiscal year 2020, the federal budget deficit is expected to hit a massive $1 trillion—the first time in U.S. history that it will have expanded so rapidly in a time of peace and economic stability.

There are a number of lessons investors can learn from the sensation that is the Popeyes chicken sandwich. One of those lessons is that people often put a premium on scarcity.

Gold has continued to hit new six-year highs and was trading at $1,544 per ounce as of August 29. The yellow metal has surged so far in 2019 in part due to global economic concerns like the U.S.-China trade war, record levels of negative-yielding debt globally and signs of manufacturing slowdowns in major economies – to name a few.

As the topic of recession remains top of mind for many investors, now is the opportune time to consider preparing your portfolio in the event of a pullback.

Carriers have added more capacity. With the exception of JetBlue Airways and Spirit Airlines, capacity as measured by seats on all domestic carriers is up from 2018. The big four airlines – United, Delta, American and Southwest – as seen in the chart below, account for more than 81 percent of domestic airline capacity.

More than a year after the start of the U.S.-China trade war, we’re finally starting to see consumer prices increase. Core inflation, which excludes food and energy, rose to a six-month high of 2.2 percent year-over-year in July.

Gold headed for its best week in nearly two months as the value of negative-yielding debt touched a new record of $15 trillion. The 10-year Treasury yield fell below 2 percent, pushing gold above $1,500 an ounce for the first time since September 2013.