Golden Gate Gains

10/03/2003 12:00 am EST


Steven Halpern


Although this special issue focuses on the gold market, it is not just for gold bugs. We believe it is prudent for all investors to consider gold as a part of their asset allocation. Meanwhile, we ask you to pardon the obvious double entendre, as we use the Golden Gate to highlight this special report and our upcoming San Francisco Money Show.

The last time we featured an issue dedicated to gold was about a year ago. At the time, our advisors were bullish, citing the uncertainty of war, fear of terrorism, and economic uncertainty. Today, the consensus among our speakers remains bullish, but for an expanding set of reasons. Granted, many still view gold as a hedge against troubled times. However, more and more, they are citing factors such as favorable supply and demand due to a rebounding economy, demand from Asia, and an expected increase in demand due to the World Council's gold bullion-based exchange-traded fund (which is expected by year end). Others cite a decrease in production and the impact of mergers within the mining industry. Also, an increasing number of advisors cite the weak US dollar and rising concern over rising deficits.

We would also point out another difference between this report and the one featured last year. In general, the recommendations made a year ago were for the major blue chip gold miners. While several of the gold mining leaders are recommended in this report, we are seeing an increasing focus on more speculative and lesser-known situations. There is also increasing attention to metals beyond just gold, such as silver, copper, and nickel. This may increase the risk to investors, and as such, we emphasize the need for one to make certain that a particular investment is appropriate for your portfolio approach and risk parameters.

Many might say this broad consensus should be viewed as a contrary indicator - suggesting that the market should move counter to what is expected by so many. While we strongly agree with the notion of contrary investing, we would emphasize that the advisors included under our coverage - the Money Show speakers - are truly the best of the best, and do not represent the type of consensus that you would want to bet against. While too close a consensus may suggest short-term caution, it should not be used to discredit their long-term forecasts.

Finally, I would mention that many of these speakers will be appearing at the San Francisco Money Show which is less than two weeks away. The Money Show will be held at the San Francisco Marriott - in the heart of downtown - from October 16th through 18th. The City by the Bay is one of the most beautiful in the world (with many of the best restaurants anywhere). But most importantly, this is an incredible opportunity to meet face to face with the best in the investment business. Many of the advisors featured in this special report will be in attendance, offering free workshops and seminars. Keynote speakers at the Money Show will include Kathleen Hays, Joe Battipaglia, C. Bruce Johnstone, Ken Fisher, Bernie Schaeffer, and InterShow's own Charles Githler. Many of the leading financial newsletter writers - representing Forbes, KCI Communications, and Phillips Publishing will also be there, appearing in both special panels, roundtables, and workshops.

Once again please pardon the pun, but the San Francisco Money Show is a golden opportunity that you don't want to miss! I hope to see you there.

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