Don Coxe - Most Incredible Opportunity Investors Will Ever See

"With continued turmoil in global markets, today King World News interviewed 40 year veteran Don Coxe, Strategy Advisor to BMO, which has $538 billion in assets.  Coxe told KWN this is “the greatest transformation to occur at one time in the entire history of the human race.”  He also stated, “This period we are living through now will be written about for thousands of years.”  But first, here is what Coxe had to say about the start of his career:  “I read in the paper one morning (in 1972) that the anchovy crop had failed off Peru.  Now I had previously been General Counsel at the Canadian Federation of Agriculture, so I knew at that time that anchovies were a major, high protein food supplement for livestock.”

Don Coxe continues:

“So I came into the office and I said, ‘The anchovy crop has been destroyed and that means we’re going to have food inflation.  We already have fuel inflation,’ so I said, ‘We’ve got to buy gold.’  We had to go to the board of directors of Mutual Life to approve it.  They approved it.  We bought in at $62 gold (in 1972), and we hung on until 1980.  At that point gold was $700 (and we sold).

At that time it was clear that Paul Volcker was going to end inflation by driving interest rates to unheard of levels.  That was the beginning of my investment career right there...."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/22_Don_Coxe_-_Most_Incredible_Opportunity_Investors_Will_Ever_See.html