His largest position since 1958
Richard Russell, legendery investment guru still going strong in his 80′s, stated a few days ago that the gold position he began building in 1999 is now about 30% of his portfolio.
Russell originally built his “grubstake” in 1958 by being heavily into a position (the stock market) and being right on the trend.
He has not had the guts to do that since – until now.
Russell believes this is the only way to make big money, a large position and being right. There are three reasons he believes he is right about his large position in gold:
- He thinks gold is in a major or primary bull market. This gold bull market is currently in its second phase, the phase where sophisticated and seasoned investors and the funds enter the market.
- If there is only one bull market in progress, it will attract broad new coverage and attention — just as Thursday’s $70 rise in gold did.
- The bear market in stocks will continue erratically and the deflationary trends will persist. … Federal Reserve Chairman “Helicopter” Ben Bernanke will stop at nothing (including massive printing of dollars) in his effort to halt deflation. That process begins today with the purchase of Treasuries with maturities from 2/16 to 2/19.
If you agree with Richard Russell about the direction of gold, gold stocks and what that can do for your net worth, what are you doing about it?
Hopefully you don’t have that “deer in the headlights” look about you.
Find out exactly what you need to do here.
