Thursday, August 6, 2015

Gold, Guts and Glory

Last week, I trekked to Vancouver for the Sprott-Stansberry Natural Resource Symposium. I would characterize the mood of both presenters and attendees as “defiantly bullish” despite a four-year grinding bear market. They seem to think they’ve seen the worst the market can offer; now they’re riding it out, looking for prices to turn higher.

There were more than 500 attendees, 60 exhibitors and 25 speakers at the conference. The headliner was Robert Friedland, a longtime commodity veteran and founder of Ivanhoe Mines. In his main presentation, Friedland made the bullish case for copper. And his view on natural resources was upbeat. In his Q&A session, he said, “Either we’re very close to the bottom or it’s the end of the world. And I don’t think it’s the end of the world.”

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