Thursday, 12 July 2012

In Gold We Trust - Erste Bank - Ronald-Peter Stoeferle

A wide ranging view of the case for Gold, updated 2012.
We believe that mining shares currently represent a high-leverage bet on the gold price with an extremely attractive risk/return profile. Strong balance sheets, high free cash flows, a substantial increase in margins, low debt levels, and rising dividends all speak in favor of the sector. There are also only a few sectors that are more underweighted by investors. We therefore believe that the current, historically low valuations offer a good opportunity to invest......

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