Presented by Michael McGowan JD, CFP Presented by Michael McGowan JD, CFP® Usual Usual Disclaimers Apply. These are FF’s Opinions. Disclaimers Apply. These are FF’s Opinions. GOLD AND SILVER SHARES, ACT II GOLD AND SILVER SHARES, ACT II AAII MEETING, L.A., April 16, 2011 AAII MEETING, L.A., April 16, 2011
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Presented by Michael McGowan JD, CFPPresented by Michael McGowan JD, CFP®®
UsualUsual Disclaimers Apply. These are FF’s Opinions.Disclaimers Apply. These are FF’s Opinions.
GOLD AND SILVER SHARES, ACT IIGOLD AND SILVER SHARES, ACT IIAAII MEETING, L.A., April 16, 2011AAII MEETING, L.A., April 16, 2011
HEADLINE MESSAGE TODAY HEADLINE MESSAGE TODAY
SAVINGSSAVINGS INS.INS. ESTATE PLANESTATE PLANRESIDENCE RET. PLANRET. PLAN
FOGHORNFOGHORN ON GOLD ON GOLD INVESTINGINVESTING“Investing is About Probabilities, About
"Animal Spirits,” And Change!
M.P.T. - 80% of Returns Come
From Secular Trend (Bull/Bear).
A Secular Bull Market Trend Runs
On Supply/Demand Imbalance Anticipation.
Study Portfolio Managers Who've Made Money.
To Participate: Broker/Funds, Newsletters, Self.
"GOLD"GOLD IS IS MONEY,"MONEY," JP MORGANJP MORGAN
Is Sturdy/Inert Chemically. Doesn't Oxidize.
Is Alloyable. Animals, Vegetables Aren’t.
Is Divisible. Retains Properties.
Is Ductile. Can be Stretched.
Is Portable. Travels; No One’s Obligation.
Is Recognizable. Assayable,Weighable.
Is Scarce. High Unit Value. (BUT, Inconvenient.)
Memory Tip: “It’s a “It’s a SADD PRSSADD PRS Without Gold.”Without Gold.”
EVERYDAY REFERENCES TO GOLDEVERYDAY REFERENCES TO GOLDCalifornia: Golden StateA Golden Age Gold Rush Heart of Gold Midas’ Golden TouchThe Golden Rule Jason & Golden FleeceA Gold Credit CardGolden Parachute Gold CoastGolden BoyGold-Digger
Olympcs,Oscar,TonyGGlobes, Emmy
State House RoofA Gold RecordAlka Seltzer GoldAmstel Gold BeerHyatt Gold PassportGold Medal FlourHonda Gold WingCent.-21, Gold Std.McD Golden ArchesGoldmember Song+Movies: Die Hard 3+
DOLLAR “DOWN” GOLD “UP”DOLLAR “DOWN” GOLD “UP”
REASONSREASONS FOR PM BULL FOR PM BULL MARKETMARKETBOnd Market Peak. [Real Rates - Negative]COmmodities in Bull Market.DOllar Sinking/ Euros? Yen?COnfidence in Equities Down.Trade Deficit: $700 Billion, Rising.Deficit (Federal)-Monetary Inflation.Debts: Govts, Banks, Individuals=Enormous.Demand/Supply Gap of PMs Expanding.Derivatives - $1Q, Unfunded, Overvalued.Global Issues: Wars, RE, Etc...Au=Insurance.
HOW HOW NOTNOT TO BUY GOLDTO BUY GOLDNumismatic Coins: Expertise.Numismatic Coins: Expertise.
TV, EBay GoldTV, EBay Gold: Big Mark: Big Mark--Ups.Ups.
Jewelry:Jewelry: 10% 10% Gold?Gold?
(No Envelope Sales Either.)(No Envelope Sales Either.)
Not GLD, SLV (ETFs) Not GLD, SLV (ETFs) Avoid!Avoid!
Coins Are Like Wine Cellar; Don’t Trade Em!
Visit: Long Beach Coin Show, www.gata.org.
GOLD OFFENSEGOLD OFFENSE: : PMPM SHARESSHARES“Bull Markets are Born on Pessimism,
Grow on Skepticism,Mature on Optimism,And Die on Euphoria.”
Sir John TempletonSecular Bull = P/E's Up. Relative Perf. Ok.Secular Bear=P/E's Down. Need Absolute Perf.2011 Market: 2nd of 3 Acts; Rise to $3k+/Oz.Buy, Hold Bricks; Trade Specs. Mr. Darcy £10k.
BULLBULL MARKETS RUN IN 3 ACTSMARKETS RUN IN 3 ACTS
PRECIOUSPRECIOUS METAL METAL RESOURCESRESOURCESFREE:
NOT FREE:www.iiconf.com.cambridgehouse.com.goldstockanalyst.com.dinesletter.com.lemetropolecafe.comhardrockanalyst.comPrecious Metal Investing
for Dummies, '08Mining Explained, N.M. FFs Guide to Gold, ‘08
GSA 10 YEAR TRACK RECORDGSA 10 YEAR TRACK RECORD
See: See: www.goldstockanalyst.comwww.goldstockanalyst.com, , Sample Letter Top Ten, of AprilSample Letter Top Ten, of April 2009.2009.
PM GEOLOGY TERMINOLOGYPM GEOLOGY TERMINOLOGYReserves: Defined by Ni 43-101/JORC.OP/Heap Leaching: Cheapest. Oxides: Cheapest Ore (Weathered).Strip Ratio of 1.5 to 1 = 1.5 Tons of
Overburden Removed Above Ore.High Grading: When Ore Prices Low,
Miners Dig High Grade Ore Only.Profits = Cash Flow, Au Price, Buyout.