Gold Stocks
“The mining stocks, especially exploration companies, are relatively attractive, but you have to buy the ones that have a strong backer. A lot of companies will run out of money. The ones that have a strong backer will be OK.” MARC FABER
Marc Faber, the investor who advised buying gold in 2001 before it tripled, said he owns Ivanhoe Mines Ltd., NovaGold Resources Inc. and Gabriel Resources Ltd. because explorers will gain the most as bullion rallies.
Commodities will be the first assets to rally when growth returns after a credit collapse led to the worldwide recession, Faber said.
Gold explorers backed by larger miners are less expensive than bigger firms and have the financial support to stay in business should the economy worsen, he added.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.
