On the heels of the recent plunge in the gold and silver markets and collapse in the mining stocks, today legend Pierre Lassonde spoke with King World News about the recent carnage as well as what he is doing with his own money right now as well as where he believes the price of gold is headed from here.
Lassonde is arguably the greatest company builder in the history of the mining sector. He is past president of Newmont Mining, former chairman of the World Gold Council and current chairman of Franco Nevada. Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.
Legend Pierre Lassonde discusses panic in the global markets
March 14 (King World News) – Eric King: “Pierre, I asked you to come on the air with me today because people are panicked. I know before we went on the air you said to me, ‘I’m a buyer but I’m down (on what I already own) 20-25% in the past couple of weeks.’ But what you and I do is we go in and buy into this kind of carnage and panic. For people around the world that are rattled by this that get caught up in the emotions, what advice would you give them to control their emotions? Can you talk to them about how you view this?”
Legend Pierre Lassonde: “Well, you don’t invest for one day or one week. You invest for the next 3 to 5 years, and that’s what you have to keep in mind. So when you are given occasions like today you just close your eyes and you start buying, and if it goes down you buy more, and if it goes up you buy a bit more. And then you just don’t look at your portfolio for the next month or two because why do you want to go through that? When you are buying companies with yields of 4 or 5%, whether the price goes down another 10% or goes up, what does it matter? It doesn’t. I just don’t get rattled by it anymore. I’ve seen six cycles so far and I guess I’m an old cynic. You make money by…To listen to legend Pierre Lassonde discuss what he is doing with his own money right now as well where he believes the gold price is headed from here CLICK HERE OR ON THE IMAGE BELOW.
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