In this wide-ranging and thought-provoking episode of Payne Points of Wealth, Bob, Ryan & Chris Payne sit down with legendary small-cap value investor Bob Killen, who brings more than 60 years of market experience to the table.

The conversation kicks off with a timely debate on gold and silver, sparked by a now viral quote from Bob Killen: “There are only two people in the world who truly understand gold—and they disagree on the price.” With precious metals going parabolic and emotions running hot, Bob offers a calm, long-term framework for thinking about gold—not just as an inflation hedge, but as a reflection of global wealth, supply and demand, and central bank behavior. His long-term price outlook may surprise you.

From there, the discussion broadens into the health of today’s market, highlighting the shift away from a narrow, mega-cap-led rally toward a much broader and healthier market, with strength in transports, small caps, commodities, and industrial names. Bob shares why this moment may resemble the 1950s more than the 1970s or 1990s, and what that could mean for investors over the next decade.

As a lifelong contrarian, Bob explains why he prefers buying what nobody wants—and names specific areas he believes are currently out of favor, including insurance stocks, REITs, and overlooked small-cap industrial companies. He also explains why discipline, patience, and risk management matter far more than being “right.”

The episode closes with some of Bob’s most valuable wisdom:

• Why emotion is the enemy of good investing

• The danger of falling in love with a stock

• Lessons learned from bankruptcy, bubbles, and booms

• And why avoiding big mistakes matters more than chasing big wins

Whether you’re navigating gold mania, questioning AI euphoria, or looking for opportunities beyond the Magnificent Seven, this episode is packed with hard earned insights, historical perspective, and timeless investment lessons.

Don’t miss this masterclass in long-term thinking from one of the great small-cap investors of our time.

In Episode 232 of the Payne Points of Wealth, Ryan and Chris Payne sit down with two industry heavyweights leading the charge in America’s critical minerals resurgence: Gary Evans, Chairman & CEO of United States Antimony Corporation (UAMY), and Paul Huet, Chairman & CEO of Americas Gold and Silver Corporation (USAS).

In one of the most energetic and eye‑opening conversations we’ve ever hosted, Gary and Paul reveal how their newly announced joint venture is poised to reshape U.S. supply chains for antimony—a mineral essential for defense, electrification, battery technology, solar, and the rapidly expanding AI-driven economy.

Together, they walk us through:

• The global silver shortage – why the world has been undersupplied by 200 million ounces per year for five straight years, and why silver under $50 may be gone forever.
• A behind-the-scenes look at their 30‑day whirlwind deal – how two American companies moved faster than anyone expected to launch a first‑of‑its‑kind U.S. antimony processing partnership.
• Why this may be the beginning of a commodity super-cycle – and why mining equities may still be dramatically undervalued even after silver’s massive run.
• How U.S. companies are racing to reduce dependence on China – from Project Vault to new domestic refining technologies.
• Reviving Idaho’s historic Silver Valley – including upgrading decades-old mines, modernizing extraction methods, tripling output, and unlocking a 100‑year district.
• The real bottleneck in critical minerals – not technology, but feedstock, and why partnerships like this could become the new template.
• The role of defense spending, allies, and national security in America’s next industrial revolution.

Stories from decades in mining, deal-making, and global operations, including Gary’s wild experiences sourcing antimony around the world, and Paul’s journey from underground driller in Canada to CEO.

Plus, Paul shares the song that changed his worldview growing up and tells the unbelievable story behind his mining tattoos and how he ended up running some of the top mining companies globally.

This episode is fast-paced, loaded with insights, and captures a moment that could shape America’s mineral independence for decades to come. If you care about how commodities can play a vital role in your investment portfolio, national security, or the future of U.S. manufacturing, this is a must-listen.

In this week’s episode, we sit down with Adam Johnson, Portfolio Manager of the Bullseye American Ingenuity Fund and author of the widely followed Bullseye Brief. Adam brings his signature 1980’s Wall St. energy as we dive deep into current market dynamics, the power (and pitfalls) of short sellers, the AI productivity boom, inflation surprises, and what investors should brace for in 2026.

We kick things off with Adam sharing some of his biggest surprises from the past year—including why several of his high‑conviction names stalled out despite strong fundamentals. From Toast to SMCI, Adam breaks down how aggressive short-selling and the removal of the SEC’s old “uptick rule” have reshaped market behavior in the age of algorithmic trading.

From there, we zoom out to the macro landscape:

• Why falling oil prices were the real inflation antidote in 2025
• How AI is already creating meaningful productivity gains
• Why profit margins remain at historic highs despite tariffs, geopolitical tension, & political chaos
• And why, even after a massive run, the AI trade may only be in a consolidation phase—not the end of the story

Then we look ahead. Adam reveals his two biggest predictions for 2026:

1. A market that climbs far higher than anyone expects thanks to accelerating earnings and a surprisingly strong U.S. economy.

2. A political “blue wave” scare in Q2 that could spark a sudden 20% pullback—only to set up an even more powerful rally as spending ramps up.

We also get into:

• Whether oil is headed for the low $50s—and why that could be wildly bullish
• The “everything rally” and where value, growth, international, and commodities fit in now
• Why investor sentiment still isn’t too hot… and why that matters
• The biggest real risks no one is talking about
• How to stay disciplined when the market tries to shake you out

Finally, Adam shares the moment he knew he’d fully matured as a portfolio manager—and why long-term conviction is the ultimate superpower in the face of noise.

This is one of our most wide-ranging, high-energy conversations of the year. If you care about where markets are headed—and how to position for the year ahead—you don’t want to miss it.