Mark Jr. Posted January 18, 2011 Share Posted January 18, 2011 A value investor I met via a shared interest in new media assets, his name is Aram Fuchs and he runs a fund called Fertilemind Capital. He talks about gold in his latest letter to shareholders which he's given me permission to post on wealth.net here: http://wealth.net/on-wealth/a-value-investor-buys-into-gold-oh-my and the direct link to the PDF "Lucrative Paradox Of 2011“ here (5 pages) http://wealth.net/wp-content/uploads/2011/01/Lucrative-Paradox-Of-2011.pdf Link to comment Share on other sites More sharing options...
Myth465 Posted January 18, 2011 Share Posted January 18, 2011 I could probably name 10 who are into gold. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted November 14, 2014 Share Posted November 14, 2014 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Link to comment Share on other sites More sharing options...
Mark Jr. Posted November 14, 2014 Author Share Posted November 14, 2014 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. Link to comment Share on other sites More sharing options...
rkbabang Posted November 14, 2014 Share Posted November 14, 2014 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. I'm not interested in miners, that's firmly in my too hard pile, but I have owned gold in the past. I'm waiting for ~$800/oz to own it again. Link to comment Share on other sites More sharing options...
yadayada Posted November 14, 2014 Share Posted November 14, 2014 I heard buffett is into gold, he likes to fondle it. Link to comment Share on other sites More sharing options...
frommi Posted November 14, 2014 Share Posted November 14, 2014 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. Do you have some names that trade for less than cash? Link to comment Share on other sites More sharing options...
original mungerville Posted January 16, 2015 Share Posted January 16, 2015 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. I'm not interested in miners, that's firmly in my too hard pile, but I have owned gold in the past. I'm waiting for ~$800/oz to own it again. It'll never get to $800/oz as there is clear sovereign buying at around $1200. Mainly China buying as much as possible. Link to comment Share on other sites More sharing options...
ItsAValueTrap Posted January 16, 2015 Share Posted January 16, 2015 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. Do you have some names that trade for less than cash? kobex, ryan gold Link to comment Share on other sites More sharing options...
Patmo Posted January 16, 2015 Share Posted January 16, 2015 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. Do you have some names that trade for less than cash? kobex, ryan gold Not gold, but Karnalyte resources, about half cash Link to comment Share on other sites More sharing options...
Patmo Posted January 16, 2015 Share Posted January 16, 2015 There was a thread just a week or 2 ago about gold miners. Since gold miners require some of the tougher valuation work out there, I mostly looked at the qualitative side of things to identify potential stocks to acquire as I knew all the gold miners were cheaply valued as a whole so I just wanted to make sure I got some form of quality back for my buck. Sometimes you just gotta let go of the models and numbers and put your faith in your judgement. Mine led me to Mandalay resources, which if you look from a bird's eye view is a gold miner with a value investor's philosophy: They acquire underperforming projects in the safest jurisdictions for a discount, then bring them up to speed with their operational expertise. The company has showcased outstanding capital allocation skills (god I hate that word, it sounds like kewl kids saying kewl kid things, only for investors) and is as shareholder friendly as you'll get in this industry. Although that's not a huge achievement given how low the bar is LOL. Link to comment Share on other sites More sharing options...
original mungerville Posted January 21, 2015 Share Posted January 21, 2015 Personally, I would not fuck around too much trying too hard to figure out individual stocks. Most mines are outside the US so there is a triple whammy here: 1. Oil down 50% and oil/energy makes up 30% of a mine's cost structure; 2. Gold is up now in the past 12.5 months even relative to the US dollar and the US dollar is up relative to currencies of countries where gold is produced (therefore the price of gold in those countries' currencies is up by double digits; 3. Miners' stock prices relative to gold are at all time lows. I would just buy GDX or Sprott's Gold miner ETF or call options on GDX at this point. Then, once you have had the time to figure out individual companies, you can sell your initial position and convert it into those. For me, I just bought call options on GDX and SLV (the latter which I intend to convert to physical at some point because if gold continues to rise here, there should be a default on the COMEX at some point and contracts will be cash settled). There is a shortage of physical precious metals in North America. Link to comment Share on other sites More sharing options...
randomep Posted January 21, 2015 Share Posted January 21, 2015 I miss all the posts about gold. Today, GLD is lower than it was 5 years ago! I suppose that explains why it's out of favor. Which is really ironic for a value investing board. Some miners trading for less than cash, mines closing, extreme negative sentiment. I'm not interested in miners, that's firmly in my too hard pile, but I have owned gold in the past. I'm waiting for ~$800/oz to own it again. At $800, I'll buy some gold coins and put it in a safety deposit box! Anyone else do that? And wants to admit it? Link to comment Share on other sites More sharing options...
original mungerville Posted January 21, 2015 Share Posted January 21, 2015 Ya, me. But it won't go to $800. There are sovereign buyers at about $1200. So it looks like you won't be doing it after all. Link to comment Share on other sites More sharing options...
Chris DeMuth Jr Posted January 23, 2015 Share Posted January 23, 2015 If you are interested at a way to get exposure to gold at a discount to its spot price, http://bit.ly/1zOJa8H is something to consider. Link to comment Share on other sites More sharing options...
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