Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Contrarian Consensus

Precious metals are not breaking out to new highs, but that doesn't mean you should ignore them. Although not as exciting as playing momentum flu stocks or Google, there is a solid long term uptrend in place for precious metals. I believe it is just a matter of time before we see an explosive move to the upside.

There are many kinds of gold bulls:

  • Perma-Bulls - while away the bull market corrections with conspiracy theories. If you use the world "cabal" or know what "PPT" stands for you might be in this group.
  • Bullion Bulls - believe physical metal is the best way to preserve wealth. Prone to rants about fiat currency.
  • Penny Stock Bulls - dig for the next postal code changing moonshot. It only takes one big play to keep Vancouver's Howe (to lose money) Street flush.
  • Silver Bulls - see more upside in silver than in gold. Silver prices are extremely volatile... just like the silver bulls.
  • Big Money Bulls - stick to quality (hint, Newmont Mines, Pan American Silver, and bullion). Smart cookies who know that you only need to get rich once.

  • Not Advice

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