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Frank Talk, a CEO Blog by Frank Holmes

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Please note: The Frank Talk articles listed below contain historical material. The data provided was current at the time of publication. For current information regarding any of the funds mentioned in these presentations, please visit the appropriate fund performance page.

Cuba and Venezuela Offer Cautionary Tales of Socialism
July 26, 2021: For the past decade, citizens of Latin American countries have grown bolder in protesting their governments’ failed socialist policies. We’ve seen unrest in, among other states, Venezuela, Chile and Colombia, but until recently, we hadn’t heard a peep from Cuba, which has been under communist rule since Fidel Castro’s revolution in 1959.

Investors' Risk Appetite Is at an All-Time High. That Could Be a Problem
July 22, 2021: Two months. That’s how long the pandemic-triggered recession lasted, from February to April 2020, making it the shortest economic downturn in U.S. history, according to the National Bureau of Economic Research’s (NBER) Business Cycle Dating Committee.

Commodities Were the Top Performers in 1H 2021: Halftime Report
July 19, 2021: Commodities rallied 21% in the first half of 2021, making them the top performing asset group ahead of U.S., European, emerging market and non-Japan Asian stocks. The broad-based index of energy, agriculture, industrial metals and precious metals rose the same amount as high-flying Bitcoin, which pulled back after hitting its all-time high of more than $63,000 on April 13.

Gold Is Catching a Bid on Pandemic and Inflation Fears. Are You Participating?
July 12, 2021: Gold notched its third straight week of higher prices as the yield on the 10-year Treasury dipped below 1.3% for the first time since February. The highly transmissible Delta variant was also ruled the most dominant strain of coronavirus in the U.S., threatening economic growth and raising uncertainty about the next interest rate hike.

Bitcoin Mining Uses a Higher Mix of Sustainable Energy Than Any Major Country or Industry

July 6, 2021

Last Thursday, HIVE Blockchain Technologies listed on Nasdaq (HVBT), providing U.S. investors access to Bitcoin and Ether mining.

As many of you know, HIVE became the first crypto miner to be traded publicly when it debuted on the TSX Venture almost four years ago. Its uplisting to Nasdaq, the world’s premiere tech stock exchange, represents the culmination of months of hard work by our team. I want to thank shareholders for their loyalty and patience.

Gold Is the Ultimate Contrarian Investment Right Now
June 30, 2021: Legendary global investor John Templeton once said that the best time to buy was when there was “maximum pessimism,” and the best time to sell was when there was “maximum optimism.”

China's Crackdown on Bitcoin Mining Is Good News for North American Crypto Miners
June 28, 2021: Bitcoin erased its 2021 gains last week as China ramped up its crackdown on mining of the cryptocurrency, a move that’s expected to help shift the industry’s center of gravity from Asia to North America.

UPDATED: Top 10 Gold Producing Countries
June 22, 2021: Gold is one of the rarest elements in the world, making up between 0.001 and 0.006 parts per million of the earth’s crust. But how much gold is the world digging up each year and what countries produce the most?

When Will Business Travel Recover? Sooner Than You Might Think
June 21, 2021: More than 2.1 million people boarded scheduled flights in the U.S. on Sunday, a 160% improvement from where we were at the beginning of the year. Leisure travel is mostly back as California and New York reopen their economies and as the European Union (EU) formally adds the U.S. to its list of countries approved for entry.

Can't Decide Between Gold or Bitcoin? Why Not Both?
June 17, 2021: Two years ago this month, the billionaire hedge fund manager said that was his favorite trade in the next 12 to 24 months due to geopolitical disruptions, among other factors. The yellow metal “has everything going for it,” he told Bloomberg.

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Net Asset Value
as of 07/30/2021

Global Resources Fund PSPFX $6.54 -0.04

Gold and Precious Metals Fund USERX $13.16 No Change

World Precious Minerals Fund UNWPX $5.03 -0.02

China Region Fund USCOX $8.82 -0.05

Emerging Europe Fund EUROX $6.65 -0.04

Global Luxury Goods Fund USLUX $24.30 -0.15

Near-Term Tax Free Fund NEARX $2.25 No Change

U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 No Change

Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by clicking here or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Foreside Fund Services, LLC, Distributor. U.S. Global Investors is the investment adviser.

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Bond funds are subject to interest-rate risk; their value declines as interest rates rise. Tax-exempt income is federal income tax free. A portion of this income may be subject to state and local income taxes, and if applicable, may subject certain investors to the Alternative Minimum Tax as well. The Near-Term Tax Free Fund may invest up to 20% of its assets in securities that pay taxable interest. Income or fund distributions attributable to capital gains are usually subject to both state and federal income taxes. The tax free funds may be exposed to risks related to a concentration of investments in a particular state or geographic area. These investments present risks resulting from changes in economic conditions of the region or issuer.

Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 5% to 10% of your portfolio in these sectors.

Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk. By investing in a specific geographic region, a regional fund’s returns and share price may be more volatile than those of a less concentrated portfolio.

The Emerging Europe Fund invests more than 25% of its investments in companies principally engaged in the oil & gas or banking industries. The risk of concentrating investments in this group of industries will make the fund more susceptible to risk in these industries than funds which do not concentrate their investments in an industry and may make the fund’s performance more volatile.

Because the Global Resources Fund concentrates its investments in a specific industry, the fund may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries.

Stock markets can be volatile and share prices can fluctuate in response to sector-related and other risks as described in the fund prospectus.

Morningstar Ratings are based on risk-adjusted return. The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance does not guarantee future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating? based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

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Certain materials on the site may contain dated information. The information provided was current at the time of publication. For current information regarding any of the funds mentioned in such materials, please visit the fund performance page.

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All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.

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