Did anyone go to the Agora Wealth Symposium? Here is a clip from one of the speakers. Would appreciate some opinions . Dont know what to make of this. Half Bullish and half Bearish.

Matt Badiali sent us his notes from Rick Rule's presentation at the Agora Wealth Symposium in Vancouver yesterday:

A couple things jumped out at me. First, Rick's sure the commodity bull market is alive and well. He cites the length and depth of the last bear market – 20 years. Mining companies simply didn't invest enough money in their pipelines. Rick points out we're still mining discoveries from the 1960s and 1970s. It takes a long time to spin up a giant mine.

Second, Rick's bullish on junior miners today. He says they are fairly priced now – he was saying fully priced six to 10 months ago. He thinks they'll be downright cheap by December... December is his target because of a wrinkle in Canadian tax law. In Canada, you can write off a loss retroactively back three years.

We pay attention to what Rick Rule says about mining stocks for two reasons. First, we know he's personally made a fortune buying these stocks at the right times. Second, he's one of only a handful of investment bankers who stuck with the business during its 20-year bear market. If you survived those two decades, you have to be pretty smart.