Palisade Radio, Released on 8/22/19
Frank discusses his early career, his experiences in the late 1970s in that bull market and how in 1997 he decided to do something different by starting Lionsgate Entertainment. After that, he started several successful gold companies including Wheaton River and in 2009 Endeavour Mining. Frank is now back in the resource space with Leagold Mining Corporation.
He feels that central banks and governments around the world are cornered and the debts they have created can never be repaid. Instead, they will print more money and inflate their debts away. He says, “There is a storm of stupidity taking place around the entire world today.” and he thinks investors should be invested in gold until the dust settles.
Time Stamp References:
1:30 – His background in stocks and securities.
4:30 – His mining ventures and M&A skills.
8:00 – Why he started Lionsgate Entertainment.
12:00 – Central banks and the outlook for gold.
13:00 – Why they can not unwind the debt.
16:00 – Fed is under pressure to cut rates more.
18:00 – Currency wars will continue.
20:30 – What does a boom in juniors look like?
22:40 – Leagold Mining overview.
26:15 – Recession and major correction is coming.
28:00 – 1969-1982 markets were flat.
29:15 – Gold mining business is risky be careful.
Frank Giustra is a Canadian business executive, who has been particularly successful in the mining and filmmaking industries, and is a noted philanthropist. Mr. Giustra started out as an assistant trader and then became a stockbroker at Merrill Lynch in his early career. He later went on to join Yorkton Securities, where he helped launch a new branch geared towards financing resource companies in Europe. He is now an advisor to major gold miner, Endeavour Mining Corporation. In the late 90’s, he founded Lionsgate Entertainment – the company behind The Hunger Games and Michael Moore’s Fahrenheit 9/11. The company had over $2 billion in revenue in 2013, and owns the rights to the hugely successful Twilight movie franchise and The Expendables series, among other big blockbuster titles.