Porter Stansberry's letter to his son on his 16th birthday; Porter's prediction: scary days ahead; My visit to the Bremont watch headquarters

1) I had the pleasure of spending half a day a week ago with my old friend Porter Stansberry. (He has reassumed control of Empire's parent company, which he founded in its original form more than two decades ago – see: MarketWise Announces Leadership Changes to Strengthen Operations and Business Performance.)

Life with Porter is always an adventure. For example, I joined him in the Bahamas in 2021 and again last year, where he taught me free dive spearfishing:

Last Monday was no exception – I learned how to shoot a crossbow and we went deer hunting (I was a curse... we saw a nice buck, but we couldn't get a shot off before he disappeared into the trees).

In addition to being great fun, I enjoy hanging out with Porter because he's full of wisdom, in both business and life – and I can think of no better example than the letter he wrote to his son on his 16th birthday recently, which he gave me permission to share (you can read the entire 10-page letter here). It starts:

Editor's note: My son, Traveler, turned 16 this month. For his birthday I gave him $17,000 (the most allowed by law without triggering taxes) and this letter.

There are not many secrets to a genuinely good life, but I think, in time, Traveler will realize that this letter was worth a lot more than the cash.

Among the gems: being poor sucks and you do not want to go through life without teeth. You might also find the guide to successful investing helpful. It's my hope that you'll share this letter with any young person who might use it to help build a good and meaningful life.

***

Dear Traveler –

Happy birthday, son.

You have brought me so much joy. Being your Dad is my favorite thing I've ever done in my life.

I am so grateful and proud that you are a fine person. You treat other people and their property with respect. You're kind and helpful – even to those who can't do anything for you. And you are honest to a fault. These traits will serve you well in life. I hope you keep them.

As you move forward in your life, I hope you will focus on:

No. 1. Finding a good wife. Who you decide to share your life with and have children with is the most important decision you'll ever make.

Find someone who brings you joy and is willing to sacrifice for the good of your relationship. Look for someone with "an inner scorecard" – someone who thinks and decides for themselves what's best and that isn't worried about what the neighbors are doing... or saying. Find someone who, most of all, believes in you. Hang on to them, no matter what.

No. 2. Finding a career that fully engages your mind and challenges you. People will tell you that if you love what you do, you'll never "work" a day in your life. I disagree. What I've discovered is that when you're genuinely passionate about what you do, you'll work hard every day of your life. And, ironically, it's hard work that creates happiness.

No. 3. Being a leader in your family. You have two younger brothers. Whether they admit it or not, they will look up to you and respect you for the rest of your lives.

Be a role model. Don't engage in vices with them. Don't be the person who gives them pot, or takes them to the strip club. Be the family member who reminds them to take care of themselves, to make good decisions. And show them the best way to live – in the healthy, honest, and disciplined ways that I see you living now. Especially when I am no longer around, look after your brothers, their wives, and their children. They will always be your family. And you will always be their older brother.

***

The most important asset you have is your health.

You already know a lot about how to develop that asset. In short: don't let yourself become overweight. Don't drink to excess. Make sure you engage in at least some form of exercise every day for an hour. Learn to meditate and breathe to manage stress.

Recognize when you're engaging in activities that might threaten your health. Things like drinking and driving, engaging in risky sports or leisure activities, having unprotected sex, going through stressful periods of time with little sleep, etc. Try your best to minimize the times you do these things. Ask yourself: is this really worth what it could cost me, physically?

After you're 30 years old, make sure that you get a physical once a year. And, no matter what, go to the dentist religiously. You do not want to go through life without teeth.

Finally... in regards to your mental health... whatever the problem is... it will pass. Trust me. I have lived through lots of tough times. They all pass.

***

The next more important asset you have... is assets!

Most people don't like to dwell on this obvious fact, but... being poor sucks.

I strongly recommend not being poor. Lots of folks defend being poor (and their own poor choices about their assets) by claiming that rich people are immoral or that there's something inherently wrong with being financially independent. Do not believe this ridiculous propaganda.

2) Speaking of Porter...

If you consume lots of financial research like I do, you have probably noticed that suddenly everyone seems to be talking about his new prediction.

Porter is a big name in our space... some might argue the biggest. And right now, he's predicting some scary things ahead for the market:

• A huge global recession
• 10% unemployment
• Bank runs
• A 50% drop in the S&P 500 

As my readers know, I don't share Porter's super-bearish outlook... but he makes some compelling points.

And, interestingly, we end up in nearly the same place to protect and grow your money in spite of the possible headwinds: focused on the stocks of high-quality businesses. He presents a compelling solution, which you can learn more about here.

3) I've never been much of a watch guy...

But when I saw in January that my friend Bill Ackman made a substantial personal investment in a $60 million funding round for Bremont, Britain's only high-end watchmaker, I was intrigued – especially since our mutual friend, Rupert, became Chair of the company... and Bill's nephew, Andrew, whom I've known since he was a wee thing, assumed a senior position there. (Here's an article about it: Billionaire Bill Ackman Invests in Bremont, Valuing British Watchmaker at Over $100 Million.)

On Friday, I finally had the chance to visit Bremont's new 35,000 square foot headquarters/manufacturing facility, located in Henley-on-Thames in Oxfordshire, about an hour outside of London. Accompanying me were my old friend and colleague Glenn Tongue and two new friends, Mark and Riaan.

On our two-hour tour, it was fascinating to see how many of the components like the bezel are created from solid pieces of metal by computer-controlled milling machines, and then how the watches are assembled by skilled watchmakers. (If you're in London, I highly recommend taking the tour – you can sign up here.)

I was so impressed with the finished product that I bought my first ever luxury watch, the new Supermarine S302, which looks great, is water resistant up to 300 meters and, I expect, will last a lifetime:

With a list price of just under $4,000, it's not cheap... but it's about one-third the price of a comparable Rolex.

My friends also bought watches – here's a picture of us (from left to right: Rupert, Mark, Glenn, Riaan, Andrew and me):

I've posted more pictures from my tour of the Bremont facility on my Facebook page here.

Best regards,

Whitney

P.S. I welcome your feedback at WTDfeedback@empirefinancialresearch.com.