{"id":1150409,"date":"2019-11-18T16:06:39","date_gmt":"2019-11-18T22:06:39","guid":{"rendered":"https:\/\/dailyreckoning.com\/?p=108330"},"modified":"2019-11-18T16:06:39","modified_gmt":"2019-11-18T22:06:39","slug":"about-what-i-said-in-nyc-last-thursday","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1150409","title":{"rendered":"About What I Said in NYC Last Thursday\u2026"},"content":{"rendered":"

This post About What I Said in NYC Last Thursday\u2026<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

\"NilusDear Rich Lifer<\/em>,<\/p>\n

<\/p>\n

As I mentioned in one of my issues last week, I attended the first annual Paradigm Press summit in New York City and gave a talk to both live attendees and thousands of additional investors with streaming access to the event.<\/p>\n

The entire event was terrific with eye-opening insights from many additional presenters \u2013 Jim Rickards, Nomi Prins, Tim Sykes, Ray Kurzweil, George Gilder, Grant Cardone, Robert and Kim Kioyasaki\u2026 I mean the list goes on and on.<\/p>\n

But for my part, I talked about two very important concepts. One of them was the secretive insurance-related investment I alluded to last week.<\/p>\n

The other was the idea of trading \u201cnew\u201d stocks for \u201cold\u201d ones at this point in the market cycle.<\/p>\n

In a nutshell, my big-picture point is that investors are currently fixated with big-hype names while simultaneously ignoring the older (more profitable) versions of the very same companies.<\/p>\n

One example I highlighted?<\/p>\n

Beyond Meat (BYND).<\/p>\n

To Infinity and BYND? <\/strong><\/h3>\n

I\u2019m sure you\u2019ve heard of this \u201cfake meat\u201d company, which makes plant-based alternatives to everything from ground beef to sausage.<\/p>\n

Now, look, there\u2019s no doubt that many people are adopting healthier lifestyles.<\/p>\n

There\u2019s no doubt that the company\u2019s products are great for what they are (though I would argue they aren\u2019t actually healthy at all).<\/p>\n

And there\u2019s no doubt that Beyond Meat has quickly gained national attention and shelf space everywhere from groceries to fast food restaurants.<\/p>\n

But as Brian Rose and I told a bunch of paying subscribers back in June, the action in Beyond Meat\u2019s stock wasn\u2019t making any sense at all.<\/p>\n

Out with the New in with the Old<\/strong><\/h3>\n

After an oversubscribed pre-IPO, the offering price of the shares ended up getting raised to $25.<\/p>\n

Then, when they finally hit the market in May, the first trade took place at $46.<\/p>\n

At the end of trading that day, the shares closed all the way up at $65.75.<\/p>\n

And by the time our alert was going out, they had soared past $160.<\/p>\n

Here\u2019s the chart from the actual issue:<\/p>\n

\"RLR\"<\/p>\n

Obviously, that massive rally was great news for anyone who got in early.<\/p>\n

But as we said, it didn\u2019t look sustainable or justified at all.<\/p>\n

So we told readers to get out if they were in and labeled the stock way overvalued.<\/p>\n

At the same time, we pointed to Tyson Foods (TSN) as a much better alternative for several reasons, including:<\/p>\n