Thursday, January 22, 2015

Precious metal stocks are good value

We simply have highly inflated asset markets. Real estate is high, stocks are high, bonds are high, art prices are high, and interest rates and short-term deposits are basically zero.

The only sector that I think is very inexpensive is precious metals, and in particularly precious-metals stocks.

Emerging Economies
I don’t think they [emerging mkts] are that cheap. Valuations are not expensive, but they are not the bargain of the century. But I believe some time in the next six to nine months emerging economies will become relatively attractive.”