David Morgan became enthralled with silver at the tender age of 11 and began investing in the stock market at age 16. While he focuses heavily on trends in metals, he considers himself a macroeconomist. Morgan teaches people to be patient and have conviction in their investment holdings, and his website, Silver-Investor.com, is an industry-leading resource.
Morgan is a highly sought-after speaker worldwide, from Hong Kong to London to Zurich to the Canadian Natural Resources conferences. He is also the publisher of a monthly newsletter, the Morgan Report, and a book, Get the Skinny on Silver Investing. He has appeared on CNBC, Fox Business, BNN in Canada, and numerous radio shows, many of which can be found on YouTube. Morgan has even been quoted in the Wall Street Journal and the Gold Report, among many other publications. Given his busy schedule, Advantage was thrilled to sit down with Morgan to get the skinny on his business and the current market.
Advantage: What is your mission?
David Morgan: To teach and empower people to understand the benefits of an honest financial system. Silver and gold are important because metals are one of the few instruments during monetary crises in which people can protect their wealth or savings. But I watch the global picture and all global markets, not just metals, because if I don’t look at the big picture, I could miss an important trend change.
What do you make of all the ups and downs we’ve been having in the market lately?
I think they are huge indicators of uncertainty in all markets—stock, currency, metals. The reason behind it is that there is a breakdown across the globe in what this financial system is capable of doing, and more and more people—both analysts and the general public—are becoming concerned. There’s a mixed camp that says we’re going to get through this; the other camp says we haven’t resolved the underlying fundamental problems and, until we do, the economy is going to continue to degrade. I’m in that camp.
What do you advise your clients to do in this market?
I advise them to be realistic. If things continue to deteriorate, it doesn’t mean the end of the world. We probably will get through this, but we may suffer more before we can meet the problem head-on and do something about it. If that’s the case, then I believe metals can protect people’s wealth. However, putting all of one’s money into metals is not prudent. There are always opportunities outside metals at all times. They may be hard to find right now, but they exist.
What do you feel is the best decision you’ve ever made?
To follow my heart and do what I’m doing now. When I started the website, it was a research site for my own edification. I started getting visitors and that turned into a small amount of consulting. Then I started writing the Morgan Report, but I started out slow. I made $6,000 my first year. I built it up over 13 years through longevity and my reputation. If you provide a good service, your business is going to grow, and that has been the case for me.
I try to learn something new every day. There is always something to learn about the silver market, such as new applications in nanotechnology, medical, and textiles. I think the highest aim one can have in life is to be of service to others, and because I’m helping people improve their quality of life and build their wealth, it’s very gratifying.
Is there anything you haven’t done yet that you would still like to do?
I’d like to see a leader, any leader, not necessarily the United States, stand up and speak the truth. These political leaders are trying to overcome a debt problem by adding more debt. I would like to see someone stand up on a forum like NBC or CNBC and really speak the truth. The deficit problem is hugely important, but the way we’re addressing it is making the problem worse, not better.
If you could address the world, what would you tell folks?
People need to do two things: be more self-reliant and be responsible for their own decisions. I stress balance, being a lifelong learner, and accepting that change is a part of life. We’re facing huge issues in energy, food, water, and population. Because of those facts, we’ve got to prioritize our time—the most valuable commodity we have—and not waste it.”