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MOGAMBO GURU: "Things Will Be Weird" [View All]

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Tace Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-28-05 10:58 AM
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MOGAMBO GURU: "Things Will Be Weird"
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Richard Daughty -- World News Trust

I was surprised to see the surprisingly bullish article "Golden Opportunity" in this week's Barron's magazine, and if you want to know all about investing in gold, then I suggest that you get a copy. I will not review it for you, but I will say that the author, Robin Goldwyn Blumenthal, did a good job of spelling out the enormously bullish case for gold without actually screaming, like the Mogambo does, "Buy gold, or it will prove that you are an idiot!"

I liked the way that James Turk, founder of, is quoted as being "worth listening to" because he correctly forecast last autumn how gold would break $500 an ounce in 2005. So what does Mr. Turk, a guy who is thus certifiably "worth listening to," think about the price of gold in 2006? "Over $850 an ounce," he says! Hahahha! A 70% gain, in one year, on the metal alone! I love this investing stuff! It's so easy!

And I really liked the little inset box entitled, "The Bottom Line," which is, I suppose, the condensed Executive Summary for busy guys like you and me, poor proletariat working trash slobs upon whose shoulders the weight of the whole world is borne, and we are far too busy screaming at teenage children and hostile neighbors to read an entire article. So, handily, we are able to quickly learn the salient points, namely, "Gold could exceed $800 next year, say some savvy pros." And revealed in this marvelous "bottom line" inset is the "easiest way to participate" in the coming gold bonanza, which is, according to the author, to use GLD, the popular gold ETF.

And as an aside, I was mightily impressed with the performance of the Central Fund of Canada, which, according to the article, "holds gold and silver, but has no operations and no management fees. It was up 16% in the last year," which actually beats the performance of actual bullion itself, which was only up 15% in the same year, according to the article! Wow! Holding metal, but doing better than metal? Nice going, CEF!

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