Monday, November 9, 2015

Legendary Pierre Lassonde Says Super-Wealthy Now Buying Massive Positions In The Gold Sector

"...But there are some great companies out there that I am buying a bit more of.  The valuations are already silly and every time they dip down I buy more.  Some of the smartest money — private equity and the super-wealthy — that’s what they are also doing.  They are picking the companies that have solid assets and great management, and as the public dumps the shares at ridiculous valuations, they say, ‘Great, give us more shares.’
A very wealthy African family just bought a 10 percent stake in a company, with more to come because the valuations are so absurd.  So the super-wealthy are willing to put $20 million – $40 million into some of these high-quality companies (as they patiently anticipate a reemergence of the gold bull).  That’s what is happening right now but people are not seeing this on the tape because these massive positions are being accumulated very quietly.” King World News note:  Despite the mainstream media’s seemingly endless anti-gold propaganda, I wanted to thank my good friend, Pierre Lassonde, for letting KWN readers around the world know what is really happening behind the scenes in the gold sector.  The bottom line is that big money is beginning to aggressively enter the gold market and that is how major bottoms are made."

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