Gold, which historically has enjoyed very high decade returns twice in the last half century, is off to a good start, maybe to 2030? I remember writing this a few years ago about the peak of the last bull run. A significant memory was the 2010 ‘Denver’ Gold Show, held in Zurich, which our Hinde Capital group attended en masse. It was in mid-April of that year, when the eruptions and ash cloud from the Icelandic volcano, Eyjafallajokull, saw 20 countries close their airspace for over a week, leaving millions of travellers stranded. Some quick thinking saw most of us get the Zurich-Paris express train, stay overnight in Paris and with the last available Eurostar tickets, make our way back to London. While much alcohol was consumed on the way, it had many of the hallmarks of the last train out of a war zone. The large presentations at the show were standing room only as CEO after CEO proclaimed their fabulous projects and sky-high share prices, enrichening them all, ON PAPER. The Gold Miners Junior Index was over 11,000 at the time and the cigar smoke at the Park Hyatt Hotel bar was so thick it was almost at bar levels (the good old days before everything got banned!). Yet, within a few years, the index had dropped over 80% and hundreds of small-cap companies had gone to the wall, with not enough cash flow to survive- HSL November 2020
The Power Of HindeSight In Gold Trading
The Power Of HindeSight In Gold Trading
The Power Of HindeSight In Gold Trading
Gold, which historically has enjoyed very high decade returns twice in the last half century, is off to a good start, maybe to 2030? I remember writing this a few years ago about the peak of the last bull run. A significant memory was the 2010 ‘Denver’ Gold Show, held in Zurich, which our Hinde Capital group attended en masse. It was in mid-April of that year, when the eruptions and ash cloud from the Icelandic volcano, Eyjafallajokull, saw 20 countries close their airspace for over a week, leaving millions of travellers stranded. Some quick thinking saw most of us get the Zurich-Paris express train, stay overnight in Paris and with the last available Eurostar tickets, make our way back to London. While much alcohol was consumed on the way, it had many of the hallmarks of the last train out of a war zone. The large presentations at the show were standing room only as CEO after CEO proclaimed their fabulous projects and sky-high share prices, enrichening them all, ON PAPER. The Gold Miners Junior Index was over 11,000 at the time and the cigar smoke at the Park Hyatt Hotel bar was so thick it was almost at bar levels (the good old days before everything got banned!). Yet, within a few years, the index had dropped over 80% and hundreds of small-cap companies had gone to the wall, with not enough cash flow to survive- HSL November 2020