Results 1 to 4 of 4

Thread: Respected Gold Bugs

  1. #1
    Veteran Member
    Joined
    Sep 2005
    Posts
    426
    Thanks
    0
    Thanked 9 Times in 9 Posts

    Default Respected Gold Bugs

    Although the set of Gold Bugs and the Set of Idiots have a significant overlap (over 65% of India's poorest invest in Gold. If they had invested in any other asset class in the past 50 years, they would have been richer -- not to mention improve nation's productivity), there are a handful of gold bugs that analyze things correctly and have invested in Gold for the right reasons.

    Kyle Bass
    David Einhorn
    Mark Faber
    George Soros

    If you really want to listen to bears, the above have sound analysis.

    If you want to commit financial suicide, waste your life, ruin careers (because you became too pessimistic, lost logical thinking, got the world model wrong) read zerobrains, schiff, globaleconomicanalysis (and anything Melonie posts here)

  2. The Following User Says Thank You to xanfiles1 For This Useful Post:


  3. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Respected Gold Bugs

    Actually, I agree with Mark Faber on many topics, including gold ( to some degree at least ). However, I don't post much of his 'stuff' as his Dr. Doom and Gloom reputation tends to create instant controversy in Dollar Den. Here's what Marc Faber has actually said about gold recently ... from


    (snip)"TGR: A couple of weeks ago James Turk told us that he thinks the low price for gold in 2012 was already established early in January. What makes you think it will pull back?

    MF: The big rally into Sept. 6, 2011, took the gold price to $1,922/ounce (oz) and then it dropped until the end of the year, touching $1,522/oz on Dec. 29. It has rallied, and is now above $1,700 again, but I don't think the correction is entirely over. Corrections of 40% are nothing unusual in a bull market.

    As an adviser, my duty is to always inform people of investment risk. I'm not saying I expect gold to collapse, but telling people the gold price will go up leads them to leverage up and speculate. If the gold price drops $50/oz, they're wiped out. All I'm saying is that, in my opinion, the gold price correction is not yet entirely completed. I see significant support around the $1,500/oz level, but it could drop lower. It depends on global liquidity and on money printing by central banks. We could have a big correction if global liquidity tightens or they stop printing money.

    TGR: Over what timeframe are you looking at the correction?

    MF: This year the gold price may not exceed the $1,922/oz high that we reached on Sept. 6. Maybe it will. I'm not a prophet. I'm just telling people that I'm buying gold and holding it. I don't speculate in gold. If you buy gold, you better understand that the price could always move to the downside. If you don't understand that, don't invest in gold – or in anything.

    TGR: Investment show commentators have been talking about gold being in one of those mania bubbles you described because it's been increasing for 11-12 years. Do you agree?

    MF: No, gold is not in a bubble. It wasn't in a bubble in 1973, either, but it still corrected by 40% then. I don't believe gold is anywhere near a bubble phase. A bubble phase is characterized by the majority of market participants being involved in a market space. I saw a gold bubble in 1979-1980, when the whole world was dealing – buying and selling gold 24-hours a day, globally.

    TGR: But not since then?

    MF: No. If you went to an investment conference in 1989, 90% of the people there would have told you they owned shares in Japanese companies. In 2000, 90% of them would have said they owned Nasdaq shares. Only about 5% of the participants at an investment conference today would tell you they own gold. Very few people in this world own gold.

    I don't believe that we're in a bubble.

    TGR: Should people who aren't yet in gold or want to add to their position wait for a correction?

    MF: I have argued for the last 12 years that investors should buy a little bit of physical gold every month and put it aside without concerns about corrections. If you don't own any gold, I would start buying some right away, keeping in mind that it could go down.

    For the last 40 years in my business I've seen people always lose money when they put too much money into something and then it goes down. They panic and sell, or they have a margin call to sell—and lose money. I own gold. It's my biggest position in my life. The possibility of the gold price going down doesn't disturb me. Every bull market has corrections.

    TGR: What do you think about silver as an alternative precious metal to hold?

    MF: Gold and silver will move in the same direction, up together or down together. At times, silver will be stronger relative to gold, and at other times gold will be stronger relative to silver. My friend Eric Sprott thinks that silver will go ballistic. I don't know. I own gold."(snip)


    I also avoid posting 'stuff' by George Soros, since he is arguably in the relatively unique position of INFLUENCING future economic developments as opposed to merely analyzing and commenting !!! See . The argument could be made that this action by George Soros constitutes 'investing' in a higher future price level for gold !!!
    Last edited by Melonie; 05-07-2012 at 11:56 PM.

  4. #3
    Veteran Member
    Joined
    Oct 2009
    Posts
    493
    Thanks
    32
    Thanked 211 Times in 137 Posts

    Default Re: Respected Gold Bugs

    Quote Originally Posted by melonie View Post
    ....however, i don't post much of his 'stuff' as his dr. Doom and gloom reputation tends to create instant controversy in dollar den.
    rotfl

  5. #4
    Banned ArmySGT.'s Avatar
    Joined
    May 2005
    Location
    SW Counter Troll HQ
    Posts
    5,582
    Thanks
    1,589
    Thanked 1,674 Times in 1,043 Posts
    Blog Entries
    13
    My Mood
    Amused

    Default Re: Respected Gold Bugs

    Quote Originally Posted by xanfiles1 View Post
    If you want to commit financial suicide, waste your life, ruin careers (because you became too pessimistic, lost logical thinking, got the world model wrong) read zerobrains, schiff, globaleconomicanalysis (and anything Melonie posts here)
    Do you douchebag in public this much?

Similar Threads

  1. Replies: 11
    Last Post: 06-02-2012, 06:19 AM
  2. Replies: 13
    Last Post: 01-31-2011, 07:47 PM
  3. Bed Bugs!
    By RC in forum Body Business
    Replies: 7
    Last Post: 07-13-2007, 12:13 PM
  4. Bugs :(
    By Katherine in forum The Lounge
    Replies: 6
    Last Post: 05-01-2007, 08:33 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •