August 1, 2012
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, put together a fascinating look at the gold bull market of the 1970s and contrasted that with what investors should look for in this bull market. Below is Fitzwilson’s piece.
‘A Watched Pot Does Not Boil.’ When it comes to investing, the old adage is equally applicable. An oft-quoted theme is that mining stocks will advance many times over the underlying price of the metals when ‘the’ moment arrives. Using history as our guide, let us look at Newmont Mining.
The chart below will surprise a lot of peope. It shows the price of Newmont Mining from 1963 through the end of the bull market move in gold in late 1981.