-- Posted Thursday, 15 June 2006 | Digg This Article
Flying in to the Vancouver Cambridge House Investment Conference this past week I sat on the plane next to an individual who worked in political and “industrial” campaigns. It was interesting to hear his predictions for our future.
Probably the greatest concern in Washington now is the inevitability of another serious terrorist attack and a continuing escalation of the political fallout from Iran and its nuclear bomb factories it refuses to close. And what will the next terrorist attack be? A dirty bomb, a low yield nuclear device or biological agent? All the high level admin types can’t make up their mind. The only conclusion and certainty seems to be that another major hit is on its way.
The marked difference between eastern Canada and western Canada are intriguing. In Quebec the French rule and in Vancouver the Asian presence dominates totally. And, wow, is Vancouver dripping in wealth! Almost daily there is a wedding reception at Vancouver’s posh Pan Pacific Hotel and the Jaguars, Mercedes, Volvos, BMWs and every other expensive luxury car you can think of is backed up all the way to the water.
And in Vancouver this past week I saw my first Maybach in the flesh. What is a Maybach? Well, for one it is a car you will never see in small town Greenville. Maybach is made by Mercedes and the price starts at about $385,250 (MSRP) or $8,040 a month. Order now before they’re all sold out. It’s the most expensive car made today. It was being used to shuffle around Eric Weinstein, a producer and actor, who is presently filming a movie in Vancouver.
So you really never have been to Vancouver?
You should go and not just to hear Bill Murphy speak at the podium. Just watching the huge cruise ships come in to port is fun. I watched the Diamond Princess, the Zuiderdam, Norwegian Wind and others by the score lining the docks at the convention center to take lucky passengers to watch the whales.
And you have never been whale watching?
I have never been on a cruise, but I am waiting for Joe Martin to have one of his future Cambridge House Investment Conferences on a cruise ship some day so I will have a good incentive to go sailing. I like that idea. Email the folks at Cambridge House now and tell them to plan to have the next gold show on a cruise ship. Then we can all talk about gold and money as we watch the whales dance in the water. jmartin@cambridgehouse.ca Probably we will never see a gold show on a cruise ship though as this would sink the boat because of too many participants.
So what did we learn in Vancouver?
It was fascinating to learn how many mining companies have as much as 60% of their stock held today by institutional funds. So what does this fact tell us? Well for one this reminds us that only a small number of fund managers have moved the price of gold and commodities higher. And can you imagine how high this market will climb when “Joe Six Pack” discovers commodities?
On the plane back home I talked with a highly educated Rhode Island College Professor who asked me if I thought that commodities had gone up a bit lately. And that pretty much tells us how little retail money has yet to enter this market. The retail sector will discover this resource market eventually and in only a matter of time.
The one speaker I always love hearing the best is Bob Bishop. Bob is followed by a crowd of loyal followers even as he attempts to leave the podium to go to the bathroom. I like this fellow because he always exudes humility and treats those surrounding him with courtesy and respect. This is an honest analyst whose material you should read as the guy is honest, humble and he knows this market very, very well.
And should I comment about right now on the gold price?
Yes, it has dropped down to the 500 level and you know what? I don’t care because as I have said repeatedly in a major bull market oscillations will come. And John Doody has already informed us that by the end of the year we will see a solid floor of 700 an ounce for the gold price. And John Doody’s word and analysis is as good as “gold.”
So, no, I am not worried in the least as the price of gold jumps around. Let it folks. You have to start thinking “long term” in this market if you are to keep your head and your brain above water. Look at the long term fundamentals as they have not changed.
Think long term, long term, long term…
I learned very long ago who to listen to in this complicated market and I will say for the record that gold is not through climbing by any means. Again, this is what bull markets are all about. Up and down and up and down. Why folks cannot get this simple fact in their heads I will never understand.
Anyway, do please seriously plan to attend the next Vancouver gold show which will come up next January. These events are worth coming to because you get a chance to talk with your favorite mining companies and you get the chance to eat the local fresh salmon which is out of this world. Believe me, you have never tasted salmon as it was meant to be enjoyed until you taste it in Vancouver. Vancouver rests between pristine waters and beautiful snow capped mountains. And these mountains are covered with snow even in late summer.
If you look real hard in the distance you can see bears chasing salmon in the streams.
And one of the best reasons to come to the Vancouver Cambridge House Investment Conference? You might get to write the trip off your income taxes, but best talk to your CPA about this.
And what are other good reasons to come to Vancouver?
Many of the mining companies give out free candy and chocolates. And some of the better financed companies give out free flashlights.
The over all environment is very family friendly and the kids would have a lot of fun. When you get tired of talking about money you can walk just a few feet out the door and view the huge luxurious cruise ships loading up on the dock. Make money and have a good time with your family in the process.
The convention center rests merely a few feet away from the cruise ships in port and one of the world’s most luxurious hotels, the Pan Pacific, is in the same building.
One of the silver company attendees had two solid silver bars weighing 25 pounds each to look at. And surrounding the heavy silver bullion bars were small beautiful flakes of silver. And one of the gold exhibits had numerous cases of gold nuggets of all different sizes pulled from their mines.
The food is good, the bathrooms close and clean and what more could you ask of a show? Well, I think I like the big fat tax deduction best.
And consider this last thought below.
What other industry sector provides for an opportunity where you can speak personally with the owners of the companies you are invested in? This is an opportunity very much worth your while participating in.
Take my word for it. If you have serious money invested in resource stocks it really will pay you to attend one of these investment conferences. In just two days you will pick up a life time of worth while information that you will never, never learn just from reading your daily newspaper and or watching the evening news.
This is the future folks and you have got to get this fact ingrained in your head.
Our world’s population is busting at the seems and the world just is not making any more oil, tungsten, zinc, gold, copper, platinum, silver, and every other base metal, precious metal and rare earth metal you can think of.
We are at the fore front of the greatest mass migration history has ever produced. And what is that migration? It is the migration to capture the remaining resources of the world in a mad dash that we have already begun to witness even by China this past year. The price of the worlds remaining valuable and non replenish able resources is going to continue to go up and it only takes a little common sense to see this simple fact.
Many of the shows attendees were mining projects who had only listed their shares on the exchange in the past few months.
And this fact above alone represents all by itself one of the best reasons for coming here. The world powers presently are in such a powerful race to procure new mineral deposits that there really aren’t enough analysts covering this market to keep up with all the new projects coming on line. And you for sure will not hear of these companies being covered on the cable money channels.
Do you smell the word “opportunity” in what I just said above?
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Let me hear from you. Send me an email with your comment. If it’s a good comment I’ll post it next week. If it stinks I’ll delete it.
David Vaughn
Gold Letter, Inc.
David4054@charter.net
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-- Posted Thursday, 15 June 2006 | Digg This Article
