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  • just_my_opinion33 just_my_opinion33 Apr 29, 2011 2:52 PM Flag

    Gold up $13 to $1550: RBY yawns

    "For over 30 years, Wall Street and its media have portrayed gold as a worthless investment, a "Barbarous relic." The propaganda has been intense, and has shaped the minds of many, including the big money managers and investors."

    In my opinion, you hit on a key point: the people running significant amounts of money tend to be younger mutual fund managers and hedge fund guys; they were educated as Keynesians and don't believe in gold - period.

    We need them to start believing and pouring some of that money they control into mining stocks. Until that starts happening we won't see any bubble like price on mining stocks. However, I do think that day will come, just because at some point they won't be able to ignore it. And if gold continues upward the profits some of these miners will be earning will get attention.

    The market cap of the mining sector is relatively tiny. Once miners become the place to have your money we'll see stock prices that will seem astounding by today's standards. But I think that could be a couple of years off, at least.

 
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