from Silver Doctors:
This latest capitulation by gold-stock investors has left this hated sector at truly apocalyptic lows. Bearish consensus is so extreme that pretty much everyone believes the gold miners are doomed to spiral lower forever. But today’s horrendous gold-stock price levels aren’t righteous, they’re a temporary emotional fiction conjured by epic fear. Trading at fundamentally-absurd levels, gold stocks are due to mean revert far higher.
For 15 full-time years now, I’ve been deeply immersed in the financial markets as a speculator, investor, researcher, and newsletter writer. During that long fascinating and challenging span, I’ve had to weather every imaginable market storm. They’re never easy, with the temptations to succumb to popular extremes of greed and fear always great. The critical anchor necessary to avoid being swayed by these emotions is perspective.
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