Show notes
Recorded on: July 21, 2026Stijn Schmitz welcomes back Lobo Tiggre to the show. Lobo Tiggre is the Author and Founder of the Independent Speculator. The discussion centers on the current state of precious metals and commodities, with Tiggre offering a fundamentally driven, contrarian perspective. He asserts that while gold’s long-term value proposition remains spectacular, driven by de-dollarization and central bank buying, the market is at a critical juncture following a significant correction. He does not believe the bottom is confirmed, suggesting a potential cyclical low could be sub-$3,000 gold, and he is holding cash for such an opportunity rather than chasing current prices.This patience extends to gold miners, where he acknowledges compelling value but warns that stocks will not be immune to further drawdowns in the metal, advocating for a “buy low” strategy to maximize returns. Tiggre expresses increasing fondness for silver, noting its dual monetary and industrial drivers, though he cautions about political risk in key jurisdictions like Mexico.On energy, he remains very bullish on oil long-term due to understated supply disruptions but is not chasing the recent price rebound, preferring to sell puts to acquire positions at lower levels. He sees a potential inverse opportunity in copper, where escalating war fears could create an oversold condition in a market with strong structural supply constraints. The conversation highlights uranium as a particularly compelling setup, with the spot price lagging the consistently rising long-term contract price, suggesting an upward snap is likely. Tiggre advises that in a major market drawdown, the safest and best companies become obvious bargains, eliminating the need for high-risk speculation. His overarching strategy is a barbell approach, balancing blue-chip producers with higher-risk, high-reward exploration stocks, all while waiting for truly low-risk entry points.Timestamps:00:00:00 – Introduction00:00:37 – Gold Value Proposition00:03:37 – Market Bottom Analysis00:04:44 – Bull Market Debate00:08:19 – Price Levels and Drawdowns00:11:10 – Central Bank Buying Durability00:14:57 – Gold Miners Value Proposition00:19:10 – Portfolio Allocation Strategy00:23:59 – Mining Developers Analysis00:26:40 – Silver and Silver Miners00:29:46 – Oil and Gas Sector00:34:10 – Copper Market Dynamics00:35:14 – Oil/Copper Shopping List?00:40:03 – Uranium Investment Setup00:45:19 – Concluding ThoughtsGuest Links:Website: https://independentspeculator.comX: https://x.com/duediligenceguyFacebook: https://www.facebook.com/louis.james.965580/LinkedIn: https://www.linkedin.com/in/lobotiggre/Lobo Tiggre, aka Louis James, is the founder and CEO of Louis James LLC, and the principal analyst and editor of IndependentSpeculator.com. He researched and recommended speculative opportunities in Casey Research publications from 2004 to 2018, writing under the name “Louis James.” While with Casey Research, he learned the ins and outs of resource speculation from the legendary speculator Doug Casey.Although frequently mistaken for one, Mr. Tiggre is not a professional geologist. However, his long tutelage under world-class geologists, writers, and investors resulted in an exceptional track record.A fully transparent, documented, and verifiable track record is a central feature of the IndependentSpeculator. Mr. Tiggre will put his own money into the speculations he writes about, so his readers will always know he has “skin in the game” with them.