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Rule:  “Investors have the choice right now between an asset which is nobody else's liability, which is gold, and the anti-gold, which is the US 10-Year or 30-Year Treasury.  I personally am going to gold with my own money.  That’s what I am doing. 


I obviously feel very different than the market....


Continue reading the Rick Rule interview below...




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“I’m reminded in times like these that Ben Graham famously said, ‘In the short-term the market is a voting machine.  In the long-term it’s a weighing machine.’  I would suspect that many of your readers and listeners understand that statement because most of them feel the way I do about how other people vote.


Sentiment numbers are mob numbers.  One of the things that I’ve tried to do in the course of my life is pay very good attention to what George Soros said, ‘You make real good money by finding a commonly held perception that’s wrong and betting against it.’


Every time I have made a lot of money in resource markets, and I mean a lot of money, has been in times like these when I could aggressively deploy capital and buy assets at 30% of what had originally been paid for them by allegedly smart people.”


Rule also added: I have no idea when institutional redemptions will end.  Trying to outguess the stupidity of the mob is an enormous challenge.  People without the financial and the psychological resources to stay the trade are capitulating, and the sidelines is a wonderful place for them.  Fortune belongs to the bold.


You have to decide for yourself who you are, whether you are a speculator, whether you are a contrarian?  If you are not those two things, you don’t belong in these markets.  If you are those two things, this is as good a market as you are going to see in your life.


Investors have to concern themselves not with governments or markets, but their own reaction to events.  Do you like to buy things on sale with the point of view that you will profit two years from now, albeit at some distress now, or not?  If the answer to that is yes, right now is a fantastic time to deploy capital.


Right now we are trying to take advantage of the decimation in capital available to junior production companies.  We are trying to take advantage of the fact that all of the institutional investors are getting redemptions, and so they have to sell instead of buy. 


I am personally focused on making presentations to quality management teams which are capital-constrained and need to raise money.  These management teams are discouraged by market action, and there is a real capital drought at this point.  About once every 10 years you come into a situation where you can buy high quality managements for the same prices that you can low quality managements.  That is the situation we are dealing with right now in the resource markets.”


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with William Kaye, James Turk, Andrew Maguire, John Hathaway, John Embry, Dr. Paul Craig Roberts, Jean-Marie Eveillard, Eric Sprott, and Nigel Farage are available now.  Also, be sure to hear the other recent KWN interviews which include Art Cashin, Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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