The Contrarian

“In the investment markets, what everyone knows is usually not worth knowing.”

Gold and Silver: Opportunity of a Lifetime?

Over the past 39 years, we have rarely used the words “Opportunity of a lifetime.” However, we feel there is a good chance of another one in progress. Let’s look at gold since the late 1970’s. History may not exactly repeat, but often it rhymes.

In 1977, when we started our award-winning Wellington Letter, we were correctly bullish on gold. It soared from around $120 when we recommended it to over $800 over the next 3+ years.

Then, when gold dropped through $694 to the downside, we declared it a bear market. Our recommendations to buy put options on many of the popular mining firms made fortunes for some of our subscribers.

Using cycle studies, we predicted in 1981 that the bear market might last 20 years and then should be followed by a 30 year bull market. We said we had no idea what would cause a 30 year bull market. Now we know.

The 20-year bear market prediction turned out to be right on target as the next bull market started in 2001.

We have done a lot of thinking about the precious metals and the longer term prospects. One year ago, in our February 18, 2016 issue, we wrote about the 2011-2015 decline possibly having been a cyclical bear market in the longer-term secular bull market. If that is correct, much higher highs are ahead…

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