The interview? In an incredibly rude and bombastic manner, the interviewer asked the guest if he had regrets for even having recommended gold implying that investing in gold had caused gold investors inordinate suffering and pain. The key point was posed in an extremely pompous and disdainful manner as if he (the host) was an expert. He is not by any means as we will show!
At that time, with gold down and numerous mining stocks fashioning major price bottoms while at multiyear price lows, the guest was condemned by the ignorant uninformed interviewer. Yet, the guest is not a “gold bug” but rather always recommends a balanced portfolio including a percentage in gold stocks.
The commentary by the host was so overdone that within minutes we received calls from friends who had seen the segment. They were as stunned by the conduct of the interviewer who seems to assume that he is a self-anointed “conscience of the investment industry” and “protector of the public.”
Based on his tone and obvious lack of any knowledge of gold or mining stocks, he is nothing short of a threat to the publics’ opportunity to make profits. Actually he is a threat to potential investment success to people who may have been influenced by his obviously uninformed views on gold at that time. Gold stocks were literally being given away as they were selling at their lowest valuation levels in years.
We went back to the week of his unwarranted diatribe and found three gold mining companies that we were recommending at the same exact week of his abusive commentary to the guest. You will not believe how pathetic and incredibly untimely his advice was. It ranks with some of the worst and most untimely advice we have ever seen. Here are the results with much more upside expected.
Richmont Mines on NYSE was .99 cents US at the time of the television interview, yesterday it hit $10 U.S. Up 1000% or ten times since the day of the classless “interview.”
Claude Resources on TSX was .15 cents Canadian at the time of the television interview and was taken over at $2.45 last month by Silver Standard. It had risen over 1500%.
Niogold Mining on TSX Venture was .09 cents Canadian; it was taken over at .43 cents by Oban Mining which changed its name to Osisko. It has moved up from the time of the interview by approximately 500%.
Many mining stocks have had tremendous moves since the time of the television clown’s sharp tongued, but dull brain comments. Just because a person is a TV commentator does not make that person a sage. We find that the best investment advice is kept quiet and is not on television. Smart investors keep their mouths shut.
Lesson? There are often tremendous opportunities for exceptional profits, but pay attention to the people you listen to. As you can see from this example, they can send you in the wrong direction or talk you out of incredibly undervalued markets as this fool did.
Note to the television buffoon,
if you want to embarrass people, you had better be right. You just set a record for on air stupidity. And learn what a price bottom is. Learn something about gold supply demand, central bank purchases and insider buying at the mining companies; learn cycles and maybe then you may know enough to conduct a civil conversation with a gentleman. In the meantime, I would suggest that you give Ringling Brothers a call, they may need a barker.