When to Bet Big on Junior Mining Stocks with Investor Erik Wetterling
Resource sector investor Erik Wetterling (a.k.a. The Hedgeless Horseman) shares insights about current conditions in gold and silver equities, market corrections, jurisdictional risk, and how he sizes positions. Erik shares his perspective of risk/reward set-ups and when he bets big on undervalued junior mining stocks. Furthermore, Erik discusses market psychology, volatility, some stock picks and what he looks for in a quality junior mining stock opportunity.
0:00 Intro
1:04 Market Correction After VRIC: Staying Fully Invested & Value Shuffling
2:46 Why Juniors Still Look Cheap: Patience, Boredom, and the ‘Wall of Worry’
4:23 Sentiment Whiplash: Buying Misery vs. Hot Metals Markets
7:21 Beyond Gold & Silver: Copper, Nickel, and Macro Uncertainty (AI, Economy)
9:39 How to Play Base Metals: Producers vs. Developers + The Importance of Teams
12:29 Conference Circuit: First Vancouver Trip, PDAC Plans, and Why Events Matter Again
15:11 PDAC Talk Preview: Psychology, Volatility, and Being Comfortable Looking Stupid
18:03 Filtering the Noise: Social Media, Discipline, and Holding a 2-Year Thesis
22:12 Technicals vs. Fundamentals: Charts as Entertainment, Position Size as the Real Tool
25:58 People Matter: Evaluating CEOs, Communication, and Execution Ability
27:03 Why ‘Good People’ Beat ‘Hidden Gems’ in Mining Investing
28:50 Due Diligence Shortcuts: Third-Party Validation & Knowing What Success Looks Like
29:43 Vision Matters: 1–3 Year Roadmaps and 10-Year Mine Plans
31:19 People vs. Project: When the Asset Speaks for Itself
33:32 Low-Maintenance, Long-Term Portfolios (and Why People Matter More Over Time)
34:42 Jurisdictional Risk Spotlight: Mexico After the Tragedy
38:22 Positioning Through Metal Cycles: Invest Like It’s a Perpetual Bear Market
41:34 Concentration & Conviction: No Hard Rules on Position Size
45:01 Qualitative vs Quantitative Conviction: Choosing the Right Team Over ‘Cheap’ Numbers
49:06 Top Pick Breakdown
51:32 Wrap-Up, Where to Follow
