Your Hidden Inheritance: Examining U.S. Seabed Resources and the Claims Behind a Growing Investment Narrative
An independent, fact-based analysis of deep-sea mineral policy, promotional investment messaging, and what public records confirm about undersea resource potential
CHICAGO, ILLINOIS / ACCESS Newswire / December 23, 2025 / Disclaimer: This article is for informational purposes only and does not constitute personalized investment advice. Investing involves risk, including potential loss of principal. Past performance does not guarantee future results. Affiliate Disclosure: This article contains affiliate links. If you subscribe through these links, a commission may be earned at no additional cost to you. This compensation does not influence the accuracy or editorial independence of the information presented.
Behind the Markets Review 2026: Is Dylan Jovine's Deep-Sea Mining Investment Thesis Worth Your Attention?
A Comprehensive Analysis of the Newsletter, the Editor, and the Critical Minerals Opportunity
If you have seen ads promoting a massive undersea mineral opportunity, references to Trump executive orders unlocking ocean resources, or claims about trillions of dollars in critical minerals waiting to be claimed, you are likely wondering whether Behind the Markets and its editor Dylan Jovine are legitimate sources of investment research or just another overhyped newsletter pitch.
This comprehensive review examines everything you need to know before subscribing, including the investment thesis being promoted, the track record behind the claims, and whether this newsletter aligns with your investment goals heading into 2026.
What Is Behind the Markets?
Behind the Markets is a subscription-based investment newsletter founded in 2018 by Dylan Jovine. According to the company's published materials, the service focuses on identifying undervalued mid-cap stocks that institutional investors often overlook due to size constraints.
The newsletter operates under the publisher's exclusion from investment adviser registration, which means it provides general financial information and opinions rather than personalized investment advice. According to the company's disclosures, all subscribers receive the same information regardless of their personal financial situation.
What Subscribers Receive (Per Company Materials):
Monthly newsletter with detailed stock analysis
Weekly stock ideas across multiple categories
Real-time alerts when positions change
Access to a model portfolio with entry and exit prices
Special reports on specific investment themes
24/7 access to a members-only website
The service is currently offered at a promotional price of $49 per year for new subscribers, according to the company's website. Higher-tier subscriptions with additional features are available at increased price points.
See current subscription options on the official Behind the Markets website
Disclosure: If you register through this link, we may earn a commission at no additional cost to you.
Quick Summary: What You Need to Know
For readers who want the essential facts before diving into the full analysis:
The Product: Behind the Markets is an investment newsletter edited by Dylan Jovine, currently promoting a deep-sea mining investment thesis centered on critical minerals and a specific stock pick.
The Price: $49 per year at the current promotional rate, with a stated 30-day money-back guarantee according to the company's website.
The Thesis: The newsletter argues that deep-sea polymetallic nodules containing nickel, cobalt, copper, and manganese represent a massive investment opportunity, particularly given Trump's April 2025 executive order accelerating seabed mining permits and China's dominance over critical mineral supply chains.
The Reality Check: The investment thesis has legitimate foundations, but promotional claims require context. Independent resource valuations for the Clarion-Clipperton Zone are in the range of $16-30 trillion according to research from organizations like Arthur D. Little, not the higher figures sometimes cited in promotional materials. The likely featured stock is a pre-revenue company with significant regulatory and execution risk.
The Bottom Line: This newsletter may provide value for self-directed investors comfortable with speculative positions who want exposure to the critical minerals theme. It is not appropriate for investors seeking guaranteed income or capital preservation.
Who Is Dylan Jovine?
Understanding the background of any newsletter editor is essential before subscribing to their research service.
According to publicly available information, Dylan Jovine entered Wall Street in the early 1990s. He founded Lexington Capital Partners, a brokerage and investment banking firm, in 1996, later selling his stake in the firm.
In 2004, Jovine founded Tycoon Publishing, a financial newsletter that reportedly attracted over 500,000 subscribers before becoming part of Agora Financial in 2011. He launched Behind the Markets in 2018 as his return to the investment newsletter space.
Claimed Track Record:
According to the company's own disclosures, Behind the Markets reports a 75.2% win rate on closed trade recommendations since launching in January 2018, with a 43.8% average return across both winners and losers through May 2025.
Important Context: These figures are self-reported by the company and represent selected historical performance. As the company's own disclaimers note, featured gains are described as atypical results. Individual investor outcomes vary significantly based on timing, position sizing, and market conditions. Past performance does not guarantee future results.
Independent verification of these performance claims through third-party auditing is not publicly available, which is common across the investment newsletter industry but worth noting when evaluating any service.
The Current Investment Thesis: Deep-Sea Mining and Critical Minerals
The promotional materials currently being advertised center on a specific investment thesis involving deep-sea mining for critical minerals. Here is what the research shows about the key claims being made.
The Core Thesis (As Presented by the Newsletter)
According to the promotional materials, the investment opportunity centers on:
Vast deposits of polymetallic nodules containing nickel, cobalt, copper, and manganese on the ocean floor
China's dominant control over critical mineral processing creating supply chain vulnerability
Recent policy actions by the Trump administration to accelerate domestic seabed mining
A specific publicly traded company positioned to benefit from this trend
What Is Independently Verifiable
The Extended Continental Shelf Claim:
The U.S. Department of State announced in December 2023 that the United States had defined the outer limits of its Extended Continental Shelf, adding approximately one million square kilometers (386,000 square miles) of seabed to U.S. sovereign rights. This announcement occurred during the Biden administration and represented the culmination of over 20 years of mapping work by federal agencies.
According to NOAA and the State Department, this territory spans seven offshore areas including the Arctic, Atlantic, Bering Sea, Pacific, Mariana Islands, and Gulf of America.
Trump's April 2025 Executive Order:
On April 24, 2025, President Trump signed an executive order titled "Unleashing America's Offshore Critical Minerals and Resources." According to the White House fact sheet, this order:
Directs the Secretary of Commerce to expedite the permitting process for seabed mineral exploration and development under the Deep Seabed Hard Mineral Resources Act
Instructs agencies to evaluate using the National Defense Stockpile for materials derived from seabed minerals
Calls for partnerships with private companies to develop these resources
Aims to counter China's influence over seabed mineral resources
This executive order is real and represents a significant policy shift toward accelerating deep-sea mining development.
The Resource Estimates:
According to the International Seabed Authority, the Clarion-Clipperton Zone in the Pacific Ocean contains an estimated 21 billion tons of polymetallic nodules with approximately 5.95 billion tons of manganese, 270 million tons of nickel, 230 million tons of copper, and 50 million tons of cobalt.
Research from Arthur D. Little has valued these resources at approximately $20 trillion. Other estimates vary, but credible sources generally place the value in the tens of trillions of dollars for the entire Clarion-Clipperton Zone.
Important Distinction: The Clarion-Clipperton Zone is located in international waters and is governed by the International Seabed Authority under the United Nations Convention on the Law of the Sea. It is not part of U.S. sovereign territory. The U.S. Extended Continental Shelf and the CCZ are separate areas with different legal frameworks.
China's Critical Mineral Dominance:
According to multiple government sources, China controls approximately 60-90% of global processing capacity for various critical minerals including rare earths, cobalt, and lithium. This supply chain concentration is widely recognized as a national security concern by policymakers across both political parties.
The Likely Stock Pick: The Metals Company (TMC)
Based on the promotional materials describing a company with exploration rights in the Clarion-Clipperton Zone that is positioned to benefit from Trump's executive order, the stock being promoted appears to be The Metals Company (NASDAQ: TMC).
Company Overview
The Metals Company is a Canadian deep-sea minerals exploration company focused on collecting, processing, and refining polymetallic nodules from the seafloor. According to company filings and public statements:
Current Status:
Pre-revenue company with no commercial production to date
Reported operating loss of $95.3 million through the first nine months of 2025
Cash and available credit of approximately $165 million as of Q3 2025
Will likely need additional financing to fund operations
Exploration Rights:
Holds exploration contracts for approximately 224,533 square kilometers in the Clarion-Clipperton Zone through subsidiaries sponsored by Nauru, Tonga, and Kiribati
Submitted applications to NOAA for two exploration licenses and one commercial recovery permit under U.S. domestic law in April 2025
Regulatory Timeline:
NOAA has scheduled public hearings for January 27-28, 2026 regarding the company's exploration license applications
According to company guidance, commercial production is targeted for Q4 2027 if permits are obtained
The International Seabed Authority has not finalized exploitation regulations, creating significant regulatory uncertainty
Stock Performance:
Shares have risen significantly in 2025 on policy tailwinds and speculation
The stock has experienced substantial volatility, trading between approximately $0.51 and $11.35 over the past 52 weeks
Analyst consensus is mixed, with price targets ranging from approximately $3.75 to $11.00
Bull Case (As Presented by Proponents)
Those optimistic about The Metals Company point to:
First-mover advantage in deep-sea nodule collection
Massive resource base with favorable economics per company studies
Trump administration support accelerating the regulatory path
Strategic partnerships with processing partners outside China
Growing demand for battery metals driven by electric vehicle adoption
Bear Case (Risk Factors to Consider)
Those cautious about The Metals Company point to:
Pre-revenue status with significant ongoing losses
Regulatory uncertainty at both U.S. and international levels
Environmental concerns about deep-sea mining impacts
Technical execution risk for commercial-scale operations
Legal questions about U.S. unilateral permitting in international waters
Need for additional capital that may dilute existing shareholders
Commodity price volatility affecting project economics
See current TMC analysis and pricing
Evaluating the Investment Thesis: What the Newsletter Argues vs. Independent Assessment
Claim: Hundreds of Trillions in Undersea Wealth
Newsletter Thesis: The promotional materials reference vast undersea wealth, with some versions citing figures as high as $500 trillion.
Independent Assessment: Credible estimates for the Clarion-Clipperton Zone resources range from approximately $16-30 trillion based on research from organizations like Arthur D. Little and various academic studies. The ISA estimates approximately 21 billion tons of nodules in the CCZ. While this represents genuinely significant resource value, investors should rely on estimates from independent geological and economic research rather than promotional figures.
Claim: Trump Unlocked New American Territory
Newsletter Thesis: The promotional materials suggest Trump's actions created new access to undersea resources.
Independent Assessment: The Extended Continental Shelf was defined in December 2023 during the Biden administration, representing the conclusion of a 20-year mapping project. Trump's April 2025 executive order accelerates the permitting process and signals policy support for seabed mining, but did not itself claim new territory. Both actions are significant, but they are distinct events with different implications.
Claim: This Is Your Birthright as an American
Newsletter Thesis: The promotional materials frame undersea minerals as a personal inheritance for U.S. citizens.
Independent Assessment: Under international law, the Extended Continental Shelf does give the United States sovereign rights over seabed resources in those defined areas. However, individual citizens do not have direct claims to these resources. The pathway for individuals to potentially benefit is through investment in companies that may eventually be permitted to extract these resources. This is fundamentally different from a personal legal entitlement.
Claim: One Company Is Positioned to Benefit
Newsletter Thesis: A specific company has unique positioning to capitalize on this opportunity.
Independent Assessment: The Metals Company is indeed a leading player in polymetallic nodule exploration and has submitted permit applications under U.S. law. However, the company faces significant execution risk, regulatory uncertainty, and competition. It is pre-revenue with substantial operating losses. Whether it successfully commercializes seabed mining remains speculative at this stage.
Who Behind the Markets May Be Right For
Based on the newsletter's focus and approach, this service may align well with investors who share the following characteristics:
May Align Well With People Who:
Have a long-term investment horizon: The investment themes promoted by Behind the Markets, including resource development and macro trends, typically play out over years rather than months. According to the company's materials, their approach focuses on identifying undervalued opportunities before they become widely recognized.
Are comfortable with speculative positions: The current thesis involves a pre-revenue company in an emerging industry with significant regulatory uncertainty. Investors who allocate a portion of their portfolio to higher-risk, higher-potential-reward positions may find this type of research valuable.
Want to diversify their research sources: Self-directed investors who consume multiple perspectives before making decisions may find value in adding another viewpoint to their research process.
Have interest in resource and commodity investments: The newsletter frequently covers themes related to mining, energy, and critical materials, according to its published materials.
Other Options May Be Preferable For People Who:
Need guaranteed income or capital preservation: The speculative nature of the featured investments is not appropriate for investors who cannot afford to lose their entire investment in a position.
Prefer passive, index-based investing: Investors who favor broad market exposure through low-cost index funds may not benefit from individual stock recommendations.
Have limited time for investment research: While the newsletter provides analysis, subscribers still need to evaluate recommendations against their own financial situation and make individual decisions.
Are uncomfortable with promotional marketing: The newsletter's sales approach uses aggressive marketing language that some investors may find off-putting, even if the underlying research has merit.
Questions to Ask Yourself
Before subscribing to any investment newsletter, consider:
What percentage of my portfolio am I comfortable allocating to speculative investments?
Do I have the financial stability to potentially lose my entire investment in a position?
Am I looking for a single source of investment ideas or one input among many?
How do I react emotionally to significant portfolio volatility?
Do I have the time and interest to evaluate recommendations before acting on them?
Your answers to these questions help determine whether any investment newsletter, including Behind the Markets, is appropriate for your situation.
The Subscription: Pricing, Guarantee, and What to Expect
Current Pricing (Per Company Website)
According to the official Behind the Markets website, the service is currently offered at a promotional price of $49 for a one-year subscription. The company notes that regular pricing is higher, with multiple subscription tiers offering different levels of access and additional reports.
Pricing, discounts, and promotional offers are subject to change. Always verify current terms on the official website before subscribing.
Money-Back Guarantee
According to the company's FAQ section, Behind the Markets offers a 30-day 100% money-back guarantee. The company states that customers can cancel within this timeframe for a full refund.
Note on Customer Experiences: Published reviews on platforms like Trustpilot show mixed experiences with the refund process. Some customers report smooth refunds while others describe difficulties. According to multiple reviews, the company may require a phone conversation before processing refund requests.
If you subscribe and decide the service is not for you, document your cancellation request in writing and follow up promptly within the 30-day window.
What Happens After You Subscribe
According to the company's published materials, after subscribing you receive:
Immediate access to the special report revealing the featured stock pick
Access to the full model portfolio with current positions
The monthly newsletter and weekly stock ideas
Email alerts when positions are updated
Access to the members-only website with archives and resources
See current subscription details and pricing
Deep-Sea Mining: The Broader Investment Landscape for 2026
For investors interested in the deep-sea mining and critical minerals theme regardless of whether they subscribe to Behind the Markets, here is additional context on the investment landscape.
The Policy Environment
The Trump administration has made critical mineral independence a stated priority. In addition to the April 2025 seabed mining executive order, related policy actions include:
Executive orders directing agencies to streamline mining permits on federal lands
Section 232 investigations into critical mineral imports
Defense Production Act funding for domestic processing capacity
Department of Energy loan programs supporting critical mineral projects
These policy tailwinds create a favorable environment for companies in the critical minerals space, though execution and regulatory timelines remain uncertain.
Investment Options Beyond Single Stocks
Investors interested in critical minerals exposure have multiple options:
Individual Mining Companies: Beyond The Metals Company, publicly traded critical minerals producers include MP Materials (rare earths), Albemarle and Livent (lithium), and various nickel and cobalt producers.
ETFs and Funds: Exchange-traded funds providing diversified exposure to critical minerals and battery metals include options from providers like Global X, VanEck, and others. These offer broader exposure with reduced single-stock risk.
Established Miners with Diversified Operations: Large mining companies like Rio Tinto, BHP, and Glencore have critical minerals exposure within diversified portfolios.
Key Dates to Watch in 2026
For investors following the deep-sea mining space:
January 27-28, 2026: NOAA public hearings on The Metals Company's exploration license applications
Throughout 2026: International Seabed Authority negotiations on exploitation regulations
Company-Specific: The Metals Company's stated Q4 2027 commercial production target depends on 2026 permit progress
Frequently Asked Questions
Is Behind the Markets Legitimate?
Behind the Markets is a registered business operated by Jupiter Publishing, LLC, based in Boca Raton, Florida. The company is listed with the Better Business Bureau. Dylan Jovine has a documented history in the financial services industry dating to the 1990s.
The service operates as a financial publisher under the publisher's exclusion from investment adviser registration. This is a legitimate business model used by many investment newsletter companies.
Whether the service provides value depends on individual subscriber experiences, which vary based on published reviews.
Is Behind the Markets Affiliated with The Metals Company?
Based on available information, Behind the Markets operates independently as a financial publisher. The newsletter earns revenue from subscriptions and may receive affiliate compensation for referrals to other services. There is no indication of a direct business relationship with The Metals Company beyond covering it as a stock recommendation.
What Is the Refund Policy?
According to the company's published FAQ, Behind the Markets offers a 30-day money-back guarantee. Customers who are not satisfied can request a full refund within 30 days of purchase. The company's materials state that you can keep any reports received even if you request a refund.
Is The Metals Company Stock a Good Investment?
This review cannot provide personalized investment advice. The Metals Company is a pre-revenue, speculative company with significant potential upside if it successfully commercializes deep-sea mining, and significant downside risk if regulatory, technical, or financial challenges prevent it from reaching commercial production.
Analyst opinions are mixed. Any investment decision should be based on your own research, risk tolerance, and financial situation, ideally in consultation with a qualified financial advisor.
Is the $500 Trillion Figure Accurate?
Independent research from organizations like Arthur D. Little and data from the International Seabed Authority support valuations in the range of $16-30 trillion for the Clarion-Clipperton Zone's polymetallic nodule resources. The specific figures vary based on commodity price assumptions and extraction cost estimates.
Investors should rely on estimates from independent geological and economic research when evaluating resource valuations.
Did Trump Really Claim New Ocean Territory?
The U.S. Extended Continental Shelf was defined in December 2023 during the Biden administration, adding approximately 386,000 square miles to U.S. seabed sovereign rights. This was the result of a 20-year government mapping project.
President Trump's April 2025 executive order accelerates permitting for seabed mineral development and signals strong policy support for the industry. Both developments are significant but represent different actions.
The Verdict: A Balanced Assessment
The Case for Considering Behind the Markets
The deep-sea mining investment thesis has legitimate underpinnings. China's dominance over critical mineral processing is a genuine national security concern recognized by both political parties. Trump's executive order represents a real policy shift that could accelerate permitting for companies in this space. The Metals Company is a real company with substantial exploration rights and a plausible path to commercialization.
For investors interested in speculative resource plays and macro-driven investment themes, Behind the Markets offers one perspective on positioning for this trend. The $49 promotional price with a 30-day money-back guarantee represents relatively low financial risk to evaluate the service.
Dylan Jovine has a documented track record in financial publishing, and the company reports favorable historical performance, though these claims are self-reported and feature atypical results.
Considerations to Weigh
The promotional materials contain claims that are not fully supported by independent sources, including resource valuations and territorial characterizations that require correction when compared to verified data. This is common in investment newsletter marketing but warrants awareness.
The featured investment thesis centers on a pre-revenue company with significant execution risk, regulatory uncertainty, and a history of operating losses. This is appropriate for speculative portfolio allocation, not core holdings.
Customer experiences with the service vary based on published reviews, with some subscribers reporting difficulty obtaining refunds despite the stated guarantee.
The investment newsletter industry broadly has been under increased regulatory scrutiny in recent years. Subscribers should approach any newsletter recommendation as one input among many rather than a signal for immediate action.
Important Note on Industry Context
The deep-sea mining industry has been under significant regulatory attention in recent years. The International Seabed Authority continues to debate exploitation regulations, and the U.S. decision to pursue unilateral permitting under domestic law has drawn criticism from some international bodies. Investors should review the most current information about any company's regulatory standing before making investment decisions.
How to Proceed
If after reviewing this analysis you decide to explore Behind the Markets further:
Visit the official website to review current pricing and subscription terms
Read the full terms and conditions before subscribing, including refund policy details
Document your subscription date to track the 30-day guarantee window
Evaluate any stock recommendations against your own research before acting
Consider position sizing appropriate for speculative investments
Consult a financial advisor if you are unsure whether this type of investment is appropriate for your situation
See current Behind the Markets subscription options
Contact Information
For questions about Behind the Markets subscriptions, according to the company's website:
Email: [email protected]
Phone Number: 1-800-851-1965
Days/Hours: Weekdays 10:00 am - 7:00 pm ET
Disclaimer Bundle
Investment Risk Disclaimer: Investing involves risk, including potential loss of principal. Past performance does not guarantee future results. The stock ratings and analysis discussed in this article represent the methodology of Behind the Markets and should not be construed as personalized investment advice. Always conduct your own research and consider consulting a qualified financial advisor before making investment decisions.
Publisher's Exclusion Notice: According to Behind the Markets' published disclosures, the service operates under the publisher's exclusion from investment adviser registration. The service provides general financial information and opinions; it does not provide individualized investment advice. Subscribers receive the same information regardless of their personal financial situation.
Results Disclaimer: Stock examples and performance figures cited represent historical data highlighted by Behind the Markets. According to the company's own disclosures, featured gains are described as atypical and are shown specifically because they are exceptional. Individual investor results vary significantly based on entry timing, position sizing, holding period, and broader market conditions. Losses are possible and have occurred for subscribers.
Affiliate Disclosure: This article contains affiliate links. If you subscribe through these links, a commission may be earned at no additional cost to you. This compensation does not influence the accuracy or editorial independence of the information presented.
Pricing Disclaimer: All subscription pricing, promotional offers, and refund terms mentioned were accurate at the time of publication (December 2025) but are subject to change. Always verify current pricing and terms on the official Behind the Markets website before subscribing.
Editorial Independence: This analysis is based on publicly available information about Behind the Markets, The Metals Company, and the deep-sea mining industry. Research sources include company filings, government documents, and independent analysis. The publisher of this article is not affiliated with Behind the Markets or The Metals Company beyond the affiliate relationship disclosed above.
Deep-Sea Mining Industry Disclaimer: The deep-sea mining industry is in its early stages and faces significant regulatory, environmental, and technical uncertainties. The International Seabed Authority has not finalized exploitation regulations for international waters. U.S. unilateral permitting under the Deep Seabed Hard Mineral Resources Act remains subject to legal and diplomatic challenges. Companies in this sector face execution risks that may result in significant investment losses.
SOURCE: Behind the Markets