Physical Gold, Farmland, Fine Art — This is What the Rich Own

Mickey Fulp: Physical Gold, Farmland, Fine Art — This is What the Rich Ownyoutu.be

Mercenary Geologist Mickey Fulp sees no end in sight for the bear market in resource juniors, and he told the Investing News Network that he believes investors should be wary about buying at these low levels.

“I think you buy low when you see some idea that the end is in sight for a bear market — otherwise you might buy low and have to buy lower as stocks go lower,” he said on the sidelines of the New Orleans Investment Conference.

Emphasizing the need for caution in the current environment, he suggested that those who do want to enter the mining sector look at companies with tight share structures and management with significant skin in the game.

However, Fulp warned that even companies producing good results may not be rewarded.

“Right now, if you announce — with few exceptions — good drill results, it becomes a liquidity event and a selling opportunity for people like me who are waiting for things to happen to take money off the table,” he said.

Fulp continues to see value in physical gold and farmland, and noted that wealthy people also tend to own fine art. “Historically, since the Renaissance, the world’s richest families have owned three things: physical gold, farmland and fine art,” he said.

Despite his bearishness, Fulp reminded investors that no downturn lasts forever.

“Bear market cycles come and they go, so at some point shy of world economic collapse, we’ll have a bull market again. And even if we have a world economic collapse, then when we recover from that we’ll have the best bull market ever,” he said.

Watch the interview above for more from Fulp on how he’s approaching the resource space right now. You can also click here to read our recap of the New Orleans Investment Conference and here for our full event playlist on YouTube.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.