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Jeff Clark: My Top 3 Picks In This Bull Market

Source: VRIC Media | Date: March 03, 2026

Investment Research Summary: Jeff Clark - My Top 3 Picks In This Bull Market

Investment Thesis

This is a major precious metals bull market comparable to 1979, not a short-term rally like 2011. Despite strong 2025 performance (gold stocks/GDX outperformed all major asset classes), the bull market is still early with structural tailwinds in gold, silver, copper, and uranium that will persist for years.

Sentiment

BULLISH

Time Horizon

LONG-TERM (multi-year bull market)

Key Takeaways

  • Gold stocks (GDX) were the #1 performing asset class in 2025, beating all major indexes—top 5 performers were all precious metals
  • Current bull market is only ~2 years old; shortest major bull market in modern history—too early to be near the top
  • Expect a correction/pullback in 2026, but it won't signal the end of the bull market—maintain high cash reserves to capitalize
  • Copper and uranium have structural supply-demand imbalances that can't be resolved quickly (10-20 years to bring new mines online)
  • Focus on management with skin in the game: CEOs must have significant personal capital invested in their companies

Market Views

  • Near-term: Anticipates a correction/pullback in 2026 due to "mini mania" conditions and rapid run-ups
  • Multi-year outlook: Bull market will continue well beyond 2026; structural issues in copper/uranium supply will take years to resolve
  • Uranium: Currently undervalued with strong government/political support
  • Copper: Trending higher; no reputable consultancy shows supply meeting demand anytime soon
  • Investment strategy: Move down the food chain to developers and earlier-stage companies that haven't run yet

Assets Discussed

  1. A2Z Gold (A2Z) - BULLISH | Had a big pop, pulled back, now offers good entry point
  2. Stallion Uranium - BULLISH | Small uranium explorer in Athabasca Basin near Arrow deposit; Clark is "very overweight" this position
  3. Pacifica Silver - BULLISH | Exploring brownfield project in Mexico with large land package; multiple drill programs planned for 2026
  4. Gold (general) - BULLISH | Offers most opportunities; still the core holding
  5. Silver - BULLISH | Pure silver producers are attractive
  6. Copper - BULLISH | Strong right now; structural supply deficit
  7. Uranium - BULLISH | Hasn't "really run yet"; undervalued with political tailwinds

Risk Factors

  • Near-term correction imminent: "Mini mania" characteristics suggest a pullback is coming in 2026—timing and magnitude unknown
  • Valuation risk after 2025 run: Many stocks have already had significant runs; need to be selective
  • Requires cash reserves: Investors without significant cash positions are vulnerable if correction is sharp

Notable Quotes

"If the bull market ended right now, it'd be the shortest bull market of the major ones in modern history... It's not even 2 years old."

"I want people running this company that are at risk financially. They got to make this work no matter what because they are financially at risk."

Source: The Gold Advisor (thegoldadvisor.com) | Book: "Pay Dirt" (available on site)

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