With gold approaching $2,000 an ounce in a raging bull market that just won’t let up, it’s time to check in with one of the best fund managers in the business for insights on how to think about the precious metal now.
In a follow-up column next week, I will suggest 17 gold-mining stocks to consider, and offer suggestions on the best way to pick them.
For guidance I turned to Caesar Bryan, a veteran who has managed the Gabelli Gold Fund
for 26 years. He’s simply crushed his benchmark, the MSCI World/Metals & Mining Index, by 50.5 percentage points over the past year, 13 percentage points annualized over five years and 4 percentage points annualized over 15 years, according to Morningstar. The fund also handily beats the S&P 500
Dow Jones Industrial Average
over the past year.
For an outlook on gold, you could do a lot worse than this Brit who may have some of the pirate’s fascination for the metal in his blood because he spent part of his early life in the Caribbean — where pirate ships once roamed.
Bryan deserves credit for being bullish when I started interviewing him on gold in mid-July. Gold has since risen 9% to trade near $1,970 an ounce. This has brought out the inevitable “contrarian” talk on Twitter that gold might be at a top because everyday people…