A lot of my old subscribers are sort of “zonked”. These are the boys and girls who had the courage to go along with me when I said, “Buy gold” back in the years around 2000. At that time gold was in the dumps, and gold mining shares were selling like discarded old shoes. Gold was selling in the 250 to 275 range, and at that time, buying gold was akin to buying Smith Corona typewriters today.
Nevertheless, I was able to cajole a percentage of my subscribers into buying gold shares and even some gold coins. After that, I went on a campaign of begging my subscribers to buy gold coins and sit with them. Coins are a pain in the neck to trade, and once holding coins, I discovered that few people play “in-and-out” games with them. For one thing, carrying 100 or so gold coins to the dealer requires a strong leather satchel and a muscular arm. Happily, it’s not a task designed for everyone. Easier to store your gold coins away and then leave ’em alone.
At the time when gold was around 260, my thinking was that at worst, gold should correct back halfway to its old 1980 high at 850. That would mean a rise from roughly 250 to 550, a profitable climb by any reckoning.
It took me a while to realize that gold had entered a new primary bull market, but when gold recorded a new high in each successive year it dawned on my tired brain that instead of a correction, gold was, indeed, in a new primary bull market.
My policy (call it a strategy) since 1990 was to beg, urge, cajole, encourage my subscribers to buy gold. This became easier with the advent of all the new exchange traded funds along with the rise of GLD, GDX, GDXJ, SGOL and so forth.
At the beginning of this site I stated that some of my old subscribers are “zonked” at what has happened to their early investments. These people have seen their original investments mature to the point where their early gold investments have become serious money, even retirement money. To my great pleasure, I’ve received e-mails from subscribers who tell me that my advice on gold has changed their lives. And I think to myself, “Ah, at least my stay on this green earth has done some good.”
The only thing better than keeping my subscribers out of a costly bear market, is to be able to steer them towards a life that is without money worries.
Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300