That's the real bear case -- rates rise in the United States, exasperating home and car sales. For the government to bail the economy out, there would be more massive deficit spending. |
The biggest reason for optimism about investment in all commodities is population growth. Half of the world's 6 billion people live in economies growing at 6 percent a year, but there have been no major gold, oil or copper discoveries. |
The odds of finding a world-class deposit are such that you would be better off buying a lottery ticket, |
The secular bull market in commodities remains intact. We are proud that our passion, models and process have guided us to be a leader in performance again. |
There are many components here that are driving gold, and they sort of rotate around. It's not linear. |
This is a correction process, I am very happy. |
Those miners who are hedged are put in the penalty box. |
We believe the secular bull market which began in 2000 will last until 2020. Navigation of this secular bull market will continue to be challenging and volatile. |
We like to buy laggards. |
We operate in a very intensely regulated world, including the mutual funds we manage and our company, which is publicly traded. Jerry Rubinstein has unique technical knowledge and skills; he is a CPA and an attorney. Furthermore, Rubinstein has tremendous entrepreneurial experience in the capital markets with leadership roles in several industries, ranging from oil and banking to the music industry. |
We recognize that there is a strong cyclical market for commodities, but we bring a strong disciplined approach to this that gives us a competitive advantage. |
What's happening is they're going from dancing to rave music, with 1000 beats per minute, to waltzing in China. |
While I was doing my thesis, I got the job, ... I thought that was a good way to leave art school. It was a boost. Then it went away. I just forgot about it. |
With 3 billion people consuming 20 million barrels of oil per day . . . it is more likely that gold will rise before oil falls, because oil won't fall much. |
With all the demands on my time as Chief Executive Officer and Chief Investment Officer, I am happy that Jerry Rubinstein has accepted the leadership role as chairman of the board of directors of U.S. Global Investors, Inc.. |