Quote of the day as we close the year out…

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“Historically with gold miners, if you can buy the low-cost leader below book value, its proven to be an outstanding investment.”

NOTE – The above chart was produced in May. Since then the sector has fallen nearly 30% implying a price to book value of less than 0.7! The chart doesn’t show it, but gold stocks were trading above book value (about 1.1x) when gold bottomed at $255.95 on April 2, 2001, which was the beginning of the bull market and an even more dramatic fact: going back as far as 1997 there was not one episode where gold producers as a group traded below book value – and the late ’90s was known as the “nuclear winter” for the gold mining industry!

One more quote to leave you with – “You don’t make money buying when you’re optimistic. You have to actually run completely counter to your own emotional psychology.”

If you’d like to invest in the only spread betting Precious Metals fund then click the banner below or email us at info@titanip.co.uk quoting Precious Metals.


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