InvestmentFranco-Nevada and the Royalty Model: Why Royalty Companies Beat Miners
Gold mining stocks underperform gold itself over most multi-decade windows. Royalty companies do the opposite. Here is the structural reason why.
Oct 19, 2025
Tag: #Analysis
Investment
PalladiumFrom $3,000 to $900: An Autopsy of the Palladium Crash
Palladium fell over 70% from its 2021 peak. Looking back, every component of the bull thesis broke at roughly the same time, which is why the decline was so brutal.
Sep 19, 2025
PalladiumTwo Continents, One Basket: The PGM Supply Mix Explained
Russia mines palladium-rich ore. South Africa mines platinum-rich ore. Neither can switch ratios, and that geological accident shapes the entire PGM market.
Aug 10, 2025
InvestmentHarry Browne's Permanent Portfolio: Why 25% Gold Made Sense in 1981
Harry Browne built a portfolio designed to survive any economic regime. Forty years later, the strategy still works, though the implementation has evolved.
Apr 22, 2025
InvestmentHow Much Gold? Backtesting 5%, 10%, and 20% Allocations Across 50 Years
The case for any specific gold allocation should rest on data, not feelings. Here is what 5%, 10%, and 20% gold portfolios actually delivered from 1972 to 2024.
Mar 23, 2025
PalladiumWhen Palladium Outshone Gold: The 2019 Price Inversion Explained
For the first time since 2002, palladium traded above gold in late 2018 and spent most of 2019 as the most expensive of the four major precious metals.
Mar 11, 2025