Bill’s Blog | February 11, 2026
I had the privilege to attend Michael Campbell’s annual financial event in Vancouver. Michael and his team did an excellent job bringing top experts from a wide range of industries and perspectives (money managers, a hedge fund manager, resource companies, bullion dealer (Border Gold), oil and gas, trend forecasters, a senior person from the MacDonald-Laurier Institute and more). My goal today is to share the insights from many of the speakers and help you understand how to position yourself financially for the remainder of 2026 and beyond. Let’s get started.
Note: Several speakers provided stock picks and investment ideas. I am not recommending (nor Fivefold Financial) any of these stock picks, but simply sharing the ideas they provided. Please do your own due diligence and research before considering any of these investment ideas.
Friday Sessions that I attended (Feb. 6th)
Martin Straith (Trend Letter) has been a regular contributor to the conference for many years, and he has an excellent track record forecasting markets and major trends (stock and investment ideas).
- Martin likes Gold based upon continued currency debasement, geopolitical tensions and non-Western central banks’ continued purchasing of the monetary metal.
- Martin also likes Silver, but expects continued volatility.
- Other commodities Martin mentioned that he favours are Oil & Natural Gas, Nuclear (uranium), Copper, Wheat, and he forecasts Bitcoin lower in 2026 (potentially $35 to 55 US).
Michael Campbell’s opening remarks: “Don’t expect the government to bail you out, you are on your own”!
James Thorne, Chief Market Strategist, Wellington-Altas Private Wealth (over 40 billion assets under management).
- We are in a generational innovation move (AI and technologies). James believes it will continue until 2031.
- “America had to change”. -America First Agenda. When China was allowed into the WTO in December 2001, that changed everything, and the North American (USA) industrial manufacturing power was gutted.
- AI is a game-changer. All industries will need to adapt and innovate their companies, or they will die!
- “Canada is in a ‘Big World of Hurt Economically’, due to excessive regulation and extremely poor policies over the last decade.
- Gold and Silver had a generational move in 2025. James sees the need for consolidation in 2026, but the metals will move higher due to the debasement trade of currencies.
- James sees good value for Bitcoin in the 60K to 70K US range in 2026.
- James likes NVIDIA after 6 to 7 months of consolidation in 2025.
Josef Schachter Energy (CEO and founder).
- Josef sees WTI averaging $70 US/barrel in 2026
- March/April are often the best months when oil prices correct and bottom ($54 per barrel). A good time to consider purchasing quality oil and gas companies at bargain prices.
- Josef foresees a major spike in oil prices by the end of this decade ($200 US/ barrel).
- Lack of investment capital for over a decade will lead to higher energy prices.
- Break-even for oil companies is in the low $60s, but $75 needed for good profit.
- Global oil demand will continue to increase for decades.
- 2026 Q2 price $72/barrel, Q3 price $78, and Q4 $84 (unless we have a serious geopolitical event).
- LNG West Coast Canada has big growth planned with expanded terminals.
- Josef’s Top Picks for 2026: Birchcliff, Bonterra, Surge Energy and Valera Energy.
Martin Armstrong (Armstrong Economics) is the highest-paid economic consultant in the world and the founder of the super AI computer “Socrates”. Martin’s forecasting is not his opinion, but is based on Socrates ‘ analysis of millions of data points daily, and provides highly probable outcomes.
- 2026, except for increased volatility in the markets
- Stablecoins = sell more sovereign debt.
- Lack of confidence in governments = debt crises.
- Gold/Silver bull run to 2032. 2026 short-term consolidation (several months) and then a bull run to continue.
- A trend of many wars between countries to continue, but not WW3.
- No EU by 2033. Countries will return to sovereign nations after decades of corruption, bad polices, and a failed model.
- Silver low: $54 US, next target $128, then $165 US, then $200 and then it gets interesting…meaning could go a long way higher.
- Gold low: $5000, next target $8500, then $10,000 by 2032
- Centralized governments: The EU, Canada, Britain, France, the USA and many others have created serious divisions in their countries through misguided policies, and will eventually collapse.
- The EU is now using capital controls. In Spain, you cannot withdraw $3000 Euros without government approval. Christine Lagarde (EU head) wants all EU Nations to have a $1000-Euro withdrawal limit.
Heather Exner-Pirot, Director of Natural Resources, MacDonald-Laurier Institute
Quote: “The Canadian economy has been morbid for a decade, marked by high regulatory burden and low productivity”.
- Risks to Canada: “Bureaucratic and elite inertia and emotional decision making”.
- The positive: Building Canada Act (C5); however, nothing has been done yet.
- The bad: Endless regulatory burdens and unrealistic carbon and fuel costs (taxes).
- Developing and marketing commodities is critical to Canada’s economy. Oil makes-up 90% of our commodity wealth. We are # 1 in the world for potash exports and # 2 in Uranium. Gold is our 2nd largest export.
- In 2025, oil hit a record production in Canada.
- LNG: Canada will continue to expand in the coming years with the Cedar Kitimat and Woodfibre Squamish projects.
- Electricity: Our excess electricity is gone, and in 2025, we were net importers of electricity.
Paul Beatie, BT Global Hedge Fund
Paul shared a few companies and sectors he likes, and these are funds BT Global has invested in.
- Precious Metals: Aris.T, RDS.V, AGMR.V
- Eyeglasses: KITS.T out of Vancouver, BC
- Aerospace: MDA.T and TSA.T, which compete with Startlink.
- Healthcare: NURS.V
- Agriculture (potash): GRO.N
Tony Greer: TG Macro (25 years as a Trader)
- Sees strong growth in the USA, similar to 2025
- No trade in the bond market
- Falling US$ in 2026
- Asset flows into equities to continue in 2026
- Moragn Stanley’s new model portfolio announced in 2025: 60% Stocks, 20% Gold and 20% Bonds. Morgan Stanley’s recommendation was a monumental change in portfolio allocation.
- Tony likes these assets in 2026: Gold, Silver, Copper, Platinum and oil.
- Trump is bullish on gold, as are Central Banks
- NVIDIA flat in 2026
- Tony sees commodities rally for 3 to 4 more years.
- Bitcoin down in 2026 to 40K.
Kevin Muir, The Macro Tourist
- Most people and many fund managers are very complacent. Kevin sees this as concerning in light of the market risks.
- Gold bull markets started in 2022 with the Russian invasion and their 80 billion treasury confiscation.
- Oil to rally in 2026.
- Bull market in all commodities in 2026
- Net foreign investments in USA equities are at an all-time high.
Shawn Khunkhan, CEO, Dolly Varden Silver, Silver and gold project in Kitsault Valley in the Golden Triangle of British Columbia. They are focused on developing silver and gold assets
- Equities are still lagging behind the physical commodities.
- Dolly Varden is in the process of a merger with Contago Ore Inc., N.CTGO, and the merger will be complete in March 2026. Contago Ore Inc. has a producing mine in Alaska. The company is working toward 200,000 oz of gold production in the near future.
- The merger will make the company a significant gold/silver producer in the north.
Ryan Irvine, Founder, Keystone Financial, Independent Research Services of Growth Stocks
- The company looks to find 10X stocks
- Criteria: Strong POIC greater than 15%, High Gross Margins, Low Debt, and Rising Free Cash Flow
- Top 5 Picks for 2026: ADF Group DRX.T; Dynacor Gold Miner DNG.T; Versa Bank VBNK.T; Ciper Pharmaceuticals CHH.T; Blorem Inc, BRM.T
Final Session: Martin Armstrong, Armstrong Economics
- Martin reiterates, no EU by 2032
- War: war escalates into Europe. Britain, the Swiss and Germany have moved their gold to Singapore vaults.
- Capital flows: When a crisis unfolds, big money moves to the USA. The US is the largest stock market in the world. The NY Stock Exchange is larger in capital than all the EU stock markets combined.
- Martin does not recommend government bonds. The DOW will reach its all-time high by 2032.
- We are in a major convergence in the world similar to the 1930s. 2032 is a key year!
- New monetary system by 2032. When a sovereign debt crisis unfolds, it will trigger the new monetary system.
- It is very important to be liquid as the crisis evolves (gold, silver, equities, and real estate are not liquid).
- Do not be exposed to an interest rate threat (meaning spiking higher). Interest rates will begin to rise from 2028 to 2032. Martin prefers floating rates until 2027, and then considers locking into fixed rates.
- Stablecoins = a debt instrument. Avoid.
- Alberta separation issue: Martin sees it as a real threat to the breaking apart of Canada, and the USA will face a similar issue (States separating). The reason for the breakup is the centralized government’s hunger for and abuse of power, and increasingly becoming more authoritarian.
- Oil prices will decline in the short term, but from 2027 to 2032, oil prices will dramatically increase.
Lots to chew on and consider how these insights and opportunities will impact your life. If you would like to discuss any of the speaker’s thoughts, please contact me. 2026 will continue be volatile, but many assets will rise. Make sure you are positioned correctly and have multiple baskets of assets that are not correlated. Avoid taking on new debt and reduce or eliminate all prior debts.
All the best in 2026,
Bill Westmacott, Owner, Fivefold Financial