There are dozens and dozens of investment newsletters in Canada and the U.S. and Mark Hulbert has been tracking the returns on their stock selections for 40 years.

The founder of the since wound down Hulbert Financial Digest and now Hulbert Ratings calculates that, over the past 15 years, out of 67 newsletters, the Linde Equity Report has the second-best record of all at an annualized 18.56 per cent.

In fact, Teal Linde, since starting his newsletter in 2000, has made about 240 stock selections with an annualized return of more than 24 per cent.

Linde started managing money in the early 2000s and launched the Linde Equity Fund in 2016.

In this conversation, Linde, a stock market historian, compares the current market to previous manias, panics and crashes, reveals how he unearths winners, and explains his “switching strategy”.

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