Doug Casey: "There's Going To Be A Bubble In Gold And Silver, And A Super-Bubble In The Miners; So Buy Them Now"
By January 10, 2013– Published in on
I had the chance to speak with chairman and founder of Casey Research yesterday, Doug Casey, out of Uruguay. It was an excellent conversation on markets and more, but due to telephone line quality, only printed highlights of the interview are shared below.
When asked about the best asset class in the world right now for investors, Doug said, "Gold and silver are perhaps the best places to be right now, and I kind of hate to say that, because they've been in huge bull markets for the last 10-12 years really. At this point they're fair value, and I continue buying them. I think a substantial portion of everybody's net worth should be in physical gold and silver at this point, because they're the only financial assets that aren't simultaneously somebody else's liability. There's no counter-party risk with them, and that's critical."
Doug further added that, "The junior gold stocks now, compared to gold, are about the cheapest that they've ever been. So if somebody wants to participate in that highly volatile, very speculative space, now is the perfect time to do it. Over many years, there have been many markets where they've gone up 10 to 1, fallen back 95%, than they go up 10 to 1 again. And some of the stocks go up 50 to 1, or 100 to 1. So now is the perfect time to look to get involved in them. Because one thing the governments are going to be doing, is creating trillions more dollars, and that's going to create other bubbles. So if you're well positioned, you can capitalize on that, and make a fortune as the greater depression dawns upon most people.
There is almost certainly going to be a bubble in gold and silver, and a super-bubble in the companies that explore for and mine them."
When it comes to researching quality junior resource companies, Doug added that, “I'm a big fan of the Cambridge House shows, because they generally have several hundred junior mining companies, and the advantage of the shows, is that you get to meet the management of these companies. The most important thing when you're investing in these stocks…is meeting the guys that are running the company, getting a personal impression, and sizing them up. In addition, you get the chance to listen to dozens of stories in a day, which give you an idea of what these companies are all about. So I urge people to go to the show coming up in Vancouver. Cambridge House does a great job, and I'll be there for the entire time.”
To read the remainder of this interview, visit, BullMarketThinking.com...
To learn more about the upcoming Vancouver Resource Investment Conference (VRIC), visit: Cambridge House International