2016 Fearless Gold Sector Forecast : Stay The Hell Away

Build Your Gold Watch List – but keep your portfolio in other sectors :

This past year was one of the worst ever for large mining companies, which suffered because of falling commodity prices and high leverage. They needed cash badly, and the streaming companies were more than happy to provide it. Mining giants such as Barrick Gold Corp., Glencore Plc, Teck Resources Ltd. and Vale SA all sold streams in 2015.

For junior or producing gold companies and their investors, the range of forecasts and continued volatility suggest it’s wiser to ignore the crystal balls for now and instead focus on what companies can control, like ensuring a sound business plan, keeping their balance sheets strong, monitoring costs, and building value for their shareholders.

Trends are against gold:

1) no inflation can be detected

2) rising interest rates offer a money making alternative while we watch and wait

3) global unrest in the middle East, Africa and Ukraine continue unabated but don’t move the panic button to ” buy”

4) Peter Schiff continues to see gold at $5,000  ( our best contrarian indicator )

This is the time of year when analysts roll out their economic forecasts for the New Year. For those who keep a close eye on gold prices, this can be a painful process.

It’s been another tough 12 months for the yellow metal, with prices falling for the third consecutive year — down about 10 per cent in 2015 alone. Prices touched a high in the neighbourhood of $1,300 and, as the year drew to close, they neared six-year lows around $1050.

That’s a big dive from the heady days of 2011, when gold hit over $1,900 an ounce.

What made things even more difficult for the sector in 2015 was the price volatility. Just when it appeared prices might be on a firm trajectory upward, they would then fall, creating more uncertainty among everyone from investors to gold companies.

That volatility is making it harder for prognosticators to estimate 2016 prices with any certainty. It’s the proverbial attempt to nail Jell-O to a wall.

That doesn’t prevent them from trying. But the resounding lack of consensus suggests it is a fraught exercise. Some are breathlessly proclaiming we’re on the brink of a new gold bull market. On the flip side, Goldman Sachs and JP Morgan predict it will fall to the psychologically important $1,000 US-per-ounce level — or lower — in 2016. Bank of America Merrill Lynch believes it will average $950 an ounce in early 2016 before recovering. Slightly more optimistic forecasters, like HSBC, predict gold will average $1,205 next year.

Gold is different from other metals in that its prices are not driven largely by typical supply and demand. While the prices of other metals, like copper or silver, tend to rise and fall as economies grow and shrink, a lot of different forces affect gold’s price. It’s used as a store of wealth, unlike most other metals (you don’t store copper to get rich), and it’s considered a “safe haven” — used as a hedge against political and economic uncertainty.

Inflation and the U.S. dollar are two major forces behind gold’s prices. In 2015, they didn’t work in gold’s favour. The collapse of the price of oil has kept inflation in check, which is bad for gold because of its role as a hedge against rising prices. The U.S. dollar has been strong — another blow for gold, which performs contrary to the greenback. Some say one of the reasons for the strong dollar was ongoing speculation that the U.S. Federal Reserve would raise rates for the first time in almost a decade. The Fed did that on Dec. 16, but there was minimal impact on gold due to the central bank’s dovish approach of a gradual tightening of future rates.

 

The dark side of metal streaming deals: Strapped mining companies trade future value for cash ( Financial Post )

 

In September, Robert Quartermain did something highly unusual for a mining executive — he signed a streaming deal with an early exit strategy.

Precious metal streaming companies looking to team up to tackle bigger deals

Valerian Mazataud/Bloomberg

Overwhelmed by the sheer volume of opportunities available in volatile commodity markets, precious-metal “streaming” companies are looking to team up to take on large acquisitions that they might not be able to readily afford on their own.

Continue reading.
Quartermain, the CEO of Vancouver-based Pretium Resources Inc., was alarmed at how much value miners are giving away in gold and silver stream sales, in which future output is sold at below-market prices in exchange for an instant cash infusion.

So when he sold a US$150-million stream on Pretium’s Brucejack project in British Columbia, he insisted that the deal include buyback options for Pretium in 2018 and 2019, and that it cap the number of gold and silver ounces that can be sold.

“When you start putting in higher levels of streaming, and the stream lasts forever, then the potential upside starts going to streaming holders and (away from) your existing shareholders,” Quartermain said in an interview.

This will go down as the biggest year ever for metal streaming deals, and it’s not even close. Miners have raised US$4.2 billion from 11 stream sales in 2015, according to Financial Post data. That is nearly double the US$2.2 billion raised in 2013, which is the second biggest year on record.

For the most part, mining analysts and investors have cheered these deals. But their sheer number has caused alarm for some observers, who worry that miners are giving away vast amounts of future upside once metal prices improve.

The metal streaming business was created back in 2004. In these transactions, a streaming company like Silver Wheaton Corp. gives a mining company an upfront cash payment. In return, it gets the right to buy a fixed amount of precious metals production from the miner at a fixed price that is far below the market price. The streamer can then sell the metal for a profit. The biggest players in this business are Silver Wheaton, Franco-Nevada Corp. and Royal Gold Inc.

This past year was one of the worst ever for large mining companies, which suffered because of falling commodity prices and high leverage. They needed cash badly, and the streaming companies were more than happy to provide it. Mining giants such as Barrick Gold Corp., Glencore Plc, Teck Resources Ltd. and Vale SA all sold streams in 2015.
On the surface, these deals made a lot of sense for mining companies. Their stock prices are so depressed that they do not want to even think about issuing equity. And the last thing this sector needs is to take on more debt. So they sold future metal production instead.

“When companies are between a rock and a hard place, they often sell what’s good because they can’t sell what’s bad,” said John Tumazos, an independent analyst.

The problem is that streams destroy much of the future “option value” for mining companies. Since the streaming metal is typically sold at fixed prices far below the market price, the streamers get all the benefit when market prices go up.

To take an extreme example, Silver Wheaton was buying silver from some mining companies at less than US$4 a pound in 2011, when silver prices rose to almost US$50. It was a massive transfer of wealth from mining companies to a streaming company.

Another concern is that streams can eliminate the exploration upside from a mine. If a miner has agreed to sell a fixed percentage of gold or silver production from a mine to a streamer, it will have to sell more metal if it makes a new discovery on the property and boosts production.

When companies are between a rock and a hard place, they often sell what’s good because they can’t sell what’s bad
John Ing, president and gold analyst at Maison Placements Canada, said streaming is reminiscent of hedging, in which metal is sold in fixed-price contracts. Hedging was all the rage in the gold industry in the 1990s, when prices were low. But it became a massive liability once prices rose far above the value in the contracts. Barrick had to spend more than $5 billion to unwind its hedge book in 2009.

Eventually, hedging became a toxic word in the industry. It is almost nonexistent today.

“It wasn’t until the price of gold went up that everybody realized what Barrick was leaving on the table,” Ing said.

“The same thing is going to happen (to streaming) when the price of gold goes up again. Not until then will people focus on the dark side of the streams.”

For investors that don’t like streaming, the good news is that miners are starting to preserve more upside for themselves in these transactions.

For example, Barrick struck a US$610-million stream sale with Royal Gold last August that guarantees higher sale prices down the road. For the first 550,000 gold ounces and 23.1 million silver ounces that Barrick delivers to Royal Gold, it receives 30 per cent of the prevailing spot prices. For every ounce after that, it receives 60 per cent of the spot prices. So if silver prices go up, Barrick stands to benefit.
Pretium Resources Inc.

Pretium’s Brucejack project in British Columbia.
Pretium went even further by negotiating optional buybacks of its stream and capping the total amount of gold and silver to be sold. If Pretium discovers more metal at the Brucejack project, it won’t go into the stream.

Traditional streaming companies like Silver Wheaton and Royal Gold are looking to buy streams that will last for decades, so Pretium’s deal is not for them. Instead, Pretium sold the stream to two private equity firms, Orion Resource Partners and Blackstone Group.

These companies are just looking for a good return and are not bothered by the idea of having their stream re-purchased in a few years. That is a relatively new concept in streaming, and it could be a game-changer if more private equity firms and other players decide to compete with traditional streamers.

Quartermain said his deal is proof that miners have alternatives to conventional streaming. He hopes other companies will follow Pretium’s lead and try to maintain some upside in these deals.

“We’ve shown you can, even in challenging markets, finance good projects and achieve that upside for shareholders,” he said.

 

 

Product DetailsWhere can you find a gold watch list ?

on Amazon.com ( Books)

Product Details

AMP Gold and Precious Metals Portfolio: The Gold Investor’s Handbook

by Jack A Bass

Paperback

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We compile legally protected and tax optimising concepts and find the optimal solution for you.

We offer extensive services and contacts in the following fields:

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Financial Planning 2016 – because you waited too long for Tax Haven Planning In 2015

The  Steps to  Your Offshore Success  :What Is Your Tax Plan for 2016

 

First Step : Identify your Goals – Why Go Offshore?

WHY GO OFFSHORE?

The motivations for individuals and corporations to utilize offshore planning and offshore companies include the desire to:

Reduce tax

Protect assets

Manage risk

Maintain privacy

Avoid bureaucracy

Reduce costs

Enhance assets

THE BENEFITS OFFERED BY OFFSHORE COMPANIES

 

More specifically, the reasons for going offshore and utilizing offshore

companies for tax planning and offshore business include:

Free remittance of profits and capital

Access to top-rated debt history jurisdictions

Access to tax treaties

Security of property rights

Accessing low cost areas

Banking privacy

Reduced taxation

The search for political stability

Your Investment Portfolio

Investment holding / wealth management

Professional services or consultancy

Patent, royalty and copyright – isolating payments to a no or low cost

jurisdiction

Personal and corporate tax planning

Step 2

Offshore Banking

Jack A. Bass and Associates has specialist expertise and knowledge of the

ever varying account opening and maintenance requirements of a wide variety

of reputable international and offshore banks.

Potential clients must understand that opening an offshore bank account is

not a simple matter and can be time consuming. Some offshore and

international banks may take longer than one month to open an offshore bank

account from receipt of a completed bank account opening package.

Consequently potential clients are encouraged to ensure that they provide

us with a complete picture of themselves and their intended business

activity.

Step 3

Asset Protection

The unexpected protective consequence of the LP structure is actually

what gave birth to Asset Protection. What the banks found out was that the

Limited Partners were unable to force distributions to pay their other

obligations. The big news was that neither were the banks, even when they

had valid judgments! They were only allowed the wimpy remedy of a “charging

order.” The net effect was that the banks were happy to settle for much

less than owed, rather than wait it out for an indefinite period with

General Partners that were friendly to their investor debtors, not to the

banks.

This was the birth of asset protection planning. Many of those investors

happened to be doctors. If it worked for banks, why wouldn’t it work for

malpractice suits or employee lawsuits? The answer was that it did!

Thus was born a new field of law: Asset Protection. Since the Limited

Partnership (LP) worked so well during the real estate crash, it became the

base of the new planning. However, instead of many different investors as

Limited Partners, the new Asset Protection planning used only the immediate

family members. Thus the LP became known as the Family Limited Partnership

(FLP).

Today, there are over two-dozen foreign jurisdictions that have enacted

specific asset protection legislation, including: The Bahamas, Belize, Cook

Islands, Bermuda, Nevis, Cayman Islands, Cyprus, Gibralter and the Turks &

Caicos Islands, to name just a few.

The Gold Standard is The Cook Islands Trust – note an asset protection trust is NOT a tax reduction plan – you still are responsible to pay taxes on the trust assets.

If you are serious about preserving your wealth, the  Asset Protection Trust is the most serious, well-thought out plan ever devised.

I cannot encourage you enough to take the time to educate yourself about the options available to you and how you can truly protect what you have worked so hard to create.

NEED ADVICE? The MAGIC Bullet Steps of Offshore Success

Your Goals –Combined With Guide Our Expertise

If you’ve found your way to this page, chances are strong that you’re a

value creator and want to keep more of the money you get as a result of

creating value. You can only rely on yourself – you cannot rely on a

government agency for your financial future.

We’ve Done All the Research

We’ve done all the research and conveniently gathered all U.S. and

International regulations pertaining to Asset Protection,Tax Havens, Tax

Planning,Offshore Banking , Information Technology, Physical Security,

Records Management, Privacy, and Third Party Invoicing into one place

An overview of our assistance with your goals:

There are dozens of jurisdictions, such as Luxembourg, Hong Kong,

Singapore and the British Virgin Islands that offer a great business

environment with fully legal tax benefits.We have to match your goals to

the right jurisdictions.

The Magic Bullet Step Number 1

The most important thing that you MUST do is seek advice from qualified

advisor – Jack A. Bass, B.A. LL.B. (someone who understands international

tax jurisdictions and tax law) . Your advisor must understand the benefits

of particular offshore jurisdictions. It is your responsibility to take

action.

In most jurisdictions you can set up your offshore company in as little as

a few weeks. We most often start the process with registering a company

name and sending in the right documentation and supporting documents for

the incorporation and a bank account(s) or merchant account for you and

your business. All of this can be conducted by internet on in rare cases we

will attend in person – for you.

The Magic Bullet Step Number 2

Specific Action – Move Your Assets To A Low / No Tax Jurisdiction

The key is in the planning and design. Clearly the most tested and solid

plans begin with an offshore jurisdiction.

Second to jurisdiction is the structure of your accounts – incorporation,

design, layering and bank accounts.

The Magic Bullet Step 3

Thirdly (more important for some clients than others) is what we call the

Asset Protection via Limited Partnership or Trust. This tool creates the

initial legal barrier between you and your money and whoever may want to

get at it. It is designed to hold “Safe Assets,” such as Stocks, Bonds,

Mutual Funds, Notes Receivable and other Liquid Assets. The LP may also own

membership interests in Limited Liability Companies (LLCs) that may have

been created to hold “Risky Assets” such as real estate, income producing

properties, boats, airplanes, etc. Once these risky assets have been

sanitized by placing them in an LLC, you can now safely hold those

interests. Importantly, LLC owners like the shareholders of a corporation

generally cannot be held liable for the acts of an LLC.

 

Contact Information:

To learn more about offshore company formation and structure your business

interests overseas ( again- at no cost or obligation)

Email info@jackbassteam.com

all email answered within 24 hours

or

call Jack direct at 604-858-3202 for a  one  half hour no fee consultation.

10:00 – 4:00 Monday to Friday ( same time zone as Los Angeles).

A business based overseas, coupled with an offshore bank account, is the perfect medium to build your wealth in a low tax jurisdiction. YOU CAN DO THIS and Jack A. Bass can help !

IF YOU WANT SOME HELP ON LOWERING YOUR TAX BURDEN  there is no cost or obligation to enquire and there is no benefit to inaction.

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Linkedin  John Bass

Modern Portfolio Theory

AMP & Comalco Place
AMP & Comalco Place (Photo credit: mikkelz)

Here , from Moden Portfolio Strategy is the key to long term profits – how many of these five basics are you using ?

The Five Primary market movers:

1) the growth or decay of the Gross National Product and the business cycle

2) Expectations of the direction of  interest rates

3) Consumer Confidence  ( becasue the consumer is 70% of economic activity

4) Short -term inflation

5) Long term inflationary expectation

THE Bottom Line :  Improve your results:  Read the AMP books and plan your portfolio moves.

(If you would like an AMP Seminar in your city write to me at info@jackbassteam.com )

Learn more / earn more for your portfolio :

Product Details

AMP Gold and Precious Metals Portfolio: The Gold Investor’s Handbook by Jack A Bass (Sep 18, 2012)

Available Now at AMAZON.COM ( go to : books )

 

Your Investment Library Will Decide Your Investment Success

Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Long Term Themes for The AMP

stock market
stock market (Photo credit: 401(K) 2012)

Nov 12

Long Term Investment  Themes

– governing selections for for both current publications The Apprentice Millionaire Portfolio and    The Gold Investor’s Handbook

AND for both blog sites ( http://www.amp2012.com and  www.ampgoldportfolio.com)

The single most important theme is the long term outlook for interest rates and the supporting policy of central banks around the world.

Markets are ignoring this idea. They do not want to accept a very-low-interest-rate policy for a protracted period of time. Markets are also ignoring the fact that the same policy is in play in nearly all major mature economies of the world

What Will This Low Interest Rate Climate Bring to your AMP Portfolio?

1) Rising stock markets – in general – specifics as per our books

2) Real estate recovery( already underway in SOME locations.

3) Precious metals and other hard assets are an alternative to low rates for the bond market and will attract more attention. Future inflation fears will attract more investment from individuals . Central banks will increase their gold reserves

What Must YOU Do ?

Take action– don’t sit wringing your hands about inflation, the fiscal cliff or the number of homes needing electricity. Study the market opportunities available and build your portfolio.

The Gold Investor’s Handbook – click here for  investment profits and much more detail on the ins and outs of investing in gold 

AND Give The Gift Of Money This Christmas

All You Need To Succeed –

in 500 pages of Investing Strategy

and Selections Available now at Amazon .com

Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today’s stock market [Paperback]

Jack A. Bass (Author)

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Those who have been wringing their hands about the big inflation, rising interest rates, weakening dollar, fiscal cliff, tax policy and the election rhetoric have missed markets. They now have an entry opportunity if they did not take advantage of it in the past.

Related articles

New Year’s Resolution : Improve Portfolio Results

Stock Market Magic = Strategy , Selection , Knowledge

Step Up Your Game

500 pages of Investing Strategy and Selections –

All You Need To Succeed In Today’s Market

Are Your Investing Results Mediocre ?

You can make the change :

Ask yourself the hard questions – what are my expectations/ results and what must I do to change if the results aren’t what you want.

You don’t have to have a 500 page plan like that outlined in my book – but no plan is a plan for no success ( pardon the lack of grammar ).

How many books on investing did you read this year ?

What are you doing differently from last year ?

Don’t remain in denial – face your demons and move up to success .

All You Need To Succeed –

in 500 pages of Investing Strategy

and Selections Available now at Amazon .com

 
Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today’s stock market [Paperback]

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Bob Farrell: Don't join the herd.

Thesis / Direction for The Apprentice Millionaire Portfolio

Reverse of U.S. two-dollar bill John Trumbull'...
Reverse of U.S. two-dollar bill John Trumbull’s Declaration of Independence (Photo credit: Wikipedia)

In answer to recent emails I am providing this outline :

October 18

The two AMP books now in print are focused on a disciplined approach :

1) Directional Trading

Meaning directional bets with respect to countries, currencies and interest rates

Opportunities arise from slow moving macro economic trends such as inflation and the decline of the U.S. dollar

This is a top down strategy.

2) Opportunistic

Based on finding opportunities in short term movements .Selling overvalued securities and buying undervalued.

3) Aggressive Growth

Long tem positions based on the assessment of a company having superior growth and management potential.

The extensive company and ETF  analysis in the books allows you to participate by either doing your own due diligence or following the book suggestions to build your  portfolio.

” The Gold Investors Handbook” is available at Amazon.com ( books) as is  ” The Apprentice Millionaire Portfolio ” which has a broad market sectors review  and portfolio suggestions.

Related articles

The Prophets Of Doom – Words of Wisdom from Jim Rogers and Marc Faber

” Doom ” is the headline in this Wealth Wire essay – but is really is a summary of plain, good old fashioned wisdom

Jim Rogers

“Bottoms in the investment world don’t end with four-year lows; they end with 10- or 15-year lows.”

jim rogers hand

Rogers is an American investor and author, currently based in Singapore. He may be most notable for co-founding the wildly successful Quantum Fund with George Soros. He also founded the Rogers International Commodities Index (RICI) and chairs Rogers Holdings and Beeland Interests, Inc.   

He famously broke a Guinness World Record by driving his motorcycle across the globe, checking out far-flung economies like China, Uruguay, and Mongolia.

These travels have made him very bullish on the long term economic prospects of China and Asia. As central banks around the world try to print their way out of the holes they’ve dug, the value of their currencies will be damaged by inflation. That should boost the prices of real assets — and Rogers is “generally short global equities and owns real assets and producing agricultural land.”

“I’m now selling long-term U.S. government bonds short. That’s the last bubble I can find in the U.S.,” he told CNN.

“I cannot imagine why anybody would give money to the U.S. government for 30 years for less than a 4% yield. I certainly wouldn’t. There are going to be gigantic amounts of bonds coming to the market, and inflation will be coming back.”

Rules to Invest By:
1. Do your own work. Don’t be afraid of being a loner. 

I learned early in my career that if you read the annual reports, you’ve done more than 90% of the people on Wall Street. If you read the notes to the annual report, you’ve done more than 95% of the people on Wall Street, and if you actually sit down and do a spread sheet, you’ve done more than 98% of the people on Wall Street.” 

2. Good investors need a historical perspective

3. Think conceptually about the world.

4. Don’t buy stocks at high multiples. 

“I don’t buy them because, by the time they reach a high multiple, it’s probably about time for it to come to an end. Wall Street and politicians are the last to catch on to any­thing.”

5. Be selective in your investing and look for one good idea. 

“The most important trick for getting rich on Wall Street is not to lose money. There are many guys who do well for two years and then get creamed. Wait until you have a winner and are sure. In the meantime, keep your money in treasury bills. Professional money managers feel that they have to do something all the time and are the worst at following this advice.” 

“Even if you only have one play every ten years, you’re going to do a lot better than most people.” 

6. Every investment should be considered a commodity that will be affected by supply and demand changes. It’s just a question of when. 

“Everything has its own supply and demand cycle, which may be a twenty-, thirty-, or fifty-year cycle, and every­thing is basically a commodity in the end.”

7. Every investor should lose some money, because it teaches you about yourself.

Marc Faber

“What I object to the current government intervention in so-called ‘solving the crisis,’ they haven’t solved anything. They’ve just postponed it.”

The original “Dr. Doom,” Faber has been at the forefront of the Austrian economic school. Faber’s Doom, Gloom and Boom report has been the bible for millions of contrarian investors worldwide.

As the London Times wrote: “One does not go to see Marc Faber, Hong Kong’s iconoclastic share pundit, in the expectation of good news. But after listening to him, no investor could claim he had not been warned. For Faber says the things nobody wants to hear…”

Nobody but his clients, that is…

In 1987 he warned his clients to cash out before Black Monday in Wall Street; he made them handsome profits by calling the burst in the Japanese bubble in 1990.

He also predicted the collapse of U.S. gaming stoc

ks in 1993 and the Asia-Pacific financial crisis of 1997.

Faber

Rules to Invest By:
(from Gloom, Boom and Doom)

1. There is no investment rule that always works.

“If there was one single rule that always worked, everybody would in time follow it, and therefore, everybody would be rich.

But the only constant in history is the shape of the wealth pyramid, with few rich people at the top and many poor at the bottom. Thus, even the best rules do change from time to time.”

2. Stocks always go up in the long term?

“This is a myth. Far more companies have failed than succeeded. Far more countries’ stock markets went to zero than markets, which have survived…

Just think of Russia in 1918, all the Eastern European stock markets after 1945, Shanghai after 1949, and Egypt in 1954.”

3. Real estate always goes up in the long term?

“While it is true that real estate has a tendency to appreciate in the long run, partly because of population growth, there is a problem with ownership and property rights. Real estate in London was a good investment over the last 1,000 years, but not for America’s Red Indians, Mexico’s Aztecs, Peru’s Incas, and people living in countries that became communists in the 20th century. All these people lost their real estate and usually their lives along with it.”

4. Buy low and sell high.

“The problem with this rule is that we never know exactly what is low and what is high. Frequently what is low will go even lower, and what is high will continue to rise.”

5. Buy a basket of high quality stocks and hold!

“Another highly-dangerous rule! Today’s leaders may not be tomorrow’s leaders. Don’t forget that Xer

x, Polaroid, Memorex, Digital Equipment, Burroughs, and Control Data were the leaders in 1973… Where are they today? Either out of business — or their stocks are far lower than they were in 1973!”

6. Buy when there is blood on the street.

“It is true that very often, bad news provide an interesting entry point — at least as a trading opportunity — into a market. However, a better long-term strategy may be to buy on bad news that has been preceded by a long string of bad news. When then the market no longer declines, there is a chance that the very worst has been fully discounted.”

7. Don’t trust anyone!

“Everybody is out to sell you something. Corporate executives either lie knowingly — or because they don’t know the true state of their business and the entire investment community makes money on you buying or selling something.”

8. The best investments are frequently the ones you did not make!

“To make a really good investment (which will in time appreciate by 100 times or more) is like finding a needle in a haystack. Most “hot tips” and “must-buy” or “great opportunities” turn out to be disasters.

Thus, only make investment decisions you have carefully analyzed and thought about in terms of risk and potential reward.”

“If you live in a small town you may know the local real estate market, but little about Cisco, Yahoo and Oracle. Stick with your investments in assets about which you may have a knowledge edge.”

10. Invest in Yourself!

“Today’s society is obsessed with money. But the best investments for you may be in your own education, in the quality of the time you spend with the ones you love, on your own job, and on books, which will open new ideas to you and let you see things from many different perspectives.”

Your Investment Library Will Decide Your Investment Success

 

 
Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today’s stock market [Paperback]

Jack A. Bass (Author)

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