Jun 20, 2022
Rick Rule is a libertarian, multi-millionaire, and highly experienced investor and speculator, focused on sub $1,000,000,000 market capitalization public and private issuers in natural resource industries. He has structured, led and participated in hundreds of privately placed debt and equity issuances for resource companies operating internationally, and domiciled in Australia, Canada, Chile, Great Britain, New Zealand, Sweden, Switzerland and the United States.
Rick began his career in the securities business in 1974 and started Global Resource Investments in 1992. Sprott-founder and billionaire Eric Sprott went on to buy the business in 2011. Rick stayed with Sprott ever since as President and CEO of Sprott U.S. holdings as well as Sprott’s largest shareholder. Rick is one of the most prominent and successful people in the industry, having presented at hundreds of resource and investment conferences over the last thirty years.
In this podcast episode, Rick starts by speaking about his formative years and what inspired him to become a world-class investor and speculator. He discusses what it was like to work closely with precious metals fanatic, Eric Sprott. More importantly, he shares some memorable moments that they had together.
Rick is a lifelong learner and practices what he preaches. He shares what drives his motivation to help people become not only better investors but as well as lifelong learners. Rick recommends the most influential books that hold great value for investors. One mental model that Rick often refers to is probabilistic thinking. Using this model, he speaks about which commodities he is most bullish and investors should pay attention to. Rick then talks about the mental models he has applied to build a better investor mind.
Rick shares stories of world-class mining entrepreneurs like Ross Beaty. He explains how a retail investor can spot more people like this. Rick gives his opinion on what qualities separate a good investor from a great investor. He then shares one piece of advice he would give his 18-year-old self. Lastly, Rick provides his definition of well-being and what it means to him.
Host: Ben Mumme
Guest: Rick Rule