Some Gold Bugs Have Given Up
{Not The Smart Ones! ~Ed.}
Friday, June 01, 2007 - FreeMarketNews.com
The golden bull will do everything in its considerable power to buck off those with limited knowledge or conviction about where the price of precious metals is headed. Such has been the case in every past bull market, and the current one will likely be no exception. Ironically, many of lesser fortitude WILL eventually buy gold –but right at the top!Jim Sinclair, writing on jsmineset.com observes:"As this key development begins to grow, having already birthed by those that have been invested in this field for years, many have given up all hope and bailed out of precious metals companies and gold itself. That is natural. It happened before and is happening again.Expanding Sinclair's comments into the bigger picture of undervalued investments in general, Alex Green, Investment Director of The Oxford Club writes:"All the greatest investors – from Warren Buffet to Peter Lynch to John Templeton – confessed that they had no clue what the market was about to due next. Instead, they bought companies that were selling for a fraction of their true worth – and sold them when the market recognized that value. "So rather than moving money around in the market based on some pundit’s "macroeconomic" view of the world – complete with forecasts of everything from GDP growth to consumer spending to Fed policy – concentrate on the fundamentals of the businesses you own, or would like to own. "What a shame it is that these people who know what is happening having bailed out and will now not reap the benefit of their mental work and long suffering. Gold and gold shares will be multiples of their present price and the old gang will be in depreciating US dollar. It is a shame but that is how it was and how it is now." Staff Reports - Free-Market News Network
The golden bull will do everything in its considerable power to buck off those with limited knowledge or conviction about where the price of precious metals is headed. Such has been the case in every past bull market, and the current one will likely be no exception. Ironically, many of lesser fortitude WILL eventually buy gold –but right at the top!Jim Sinclair, writing on jsmineset.com observes:"As this key development begins to grow, having already birthed by those that have been invested in this field for years, many have given up all hope and bailed out of precious metals companies and gold itself. That is natural. It happened before and is happening again.Expanding Sinclair's comments into the bigger picture of undervalued investments in general, Alex Green, Investment Director of The Oxford Club writes:"All the greatest investors – from Warren Buffet to Peter Lynch to John Templeton – confessed that they had no clue what the market was about to due next. Instead, they bought companies that were selling for a fraction of their true worth – and sold them when the market recognized that value. "So rather than moving money around in the market based on some pundit’s "macroeconomic" view of the world – complete with forecasts of everything from GDP growth to consumer spending to Fed policy – concentrate on the fundamentals of the businesses you own, or would like to own. "What a shame it is that these people who know what is happening having bailed out and will now not reap the benefit of their mental work and long suffering. Gold and gold shares will be multiples of their present price and the old gang will be in depreciating US dollar. It is a shame but that is how it was and how it is now." Staff Reports - Free-Market News Network
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