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Our next guest has a lot of answers when it comes to gold he's a hard core gold bull he sees gold heading.
Dollars an ounce.
He -- silver prices somewhere between 30320.
By the end of the year but you know -- and silver silver was getting up to about fifty.
Joining us now in this Fox Business exclusive from Manchester, New Hampshire.
Top -- is portfolio manager of the Midas fund -- to me -- of course is is the modest perpetual portfolio which is outperforming.
85% of the funds in his league so good to see you Tom thank you so much what.
Make up a day like today I mean this is why else.
It is while then there's a lot of emotion in the market the gold market particularly has emotion in it.
And that makes opportunities for -- they can sit back and look at the big picture and and and pick their spots as -- a lot of good opportunities there.
OK so we hit a record high today.
You see the Euro zone debt crisis moving higher we know that here there's a lot of angst going on with this debt ceiling situation.
But let's talk about how bullish -- really are -- start to look like a short term top.
Well they could be that since the -- -- in the road that gold has been up in gold has is making highs and as we -- know you wanna.
Buy low -- -- half price that might be the wrong time to -- RYOK so that was my next question would you buy here.
Well what I would buys the stocks because interestingly as gold has made all time highs the stocks are actually down about 5% this year this of the XAU.
And -- we're seeing real values in stocks are selling about half there their historical multiples in terms of price to cash flow price to earnings and other types of the measurements like past.
OK so let's get your favorite gold stock and that is gold court GG and what's in there that you like so much.
That sets it apart from say for example the Freeport backgrounds of the other names out there Barrick Gold all the other miners.
Well what sets it apart is there's two things one is that it's it's in politically safe jurisdictions -- That might mean by that is Canada and United States Freeport has an enormous mine in Indonesia.
It also has large properties and deposits department's valuation base in the Congo.
Of those places it can get very difficult when the prices go up because the governments like to seize assets and and impose -- and high tax rates on these mining companies Barrick.
I had a lot of assets in North America they got -- of the African once they went back into Zambia recently for copper -- so.
A lot of copper exposure there or not our favorite metal at the moment.
Yeah I mean if you've got gold you don't like copper usually but -- aren't let me get your fund in the -- perpetual portfolio fund.
You would think has a lot of gold and it a lot of cool names but you have some other things in their such as Google please help me wrap my mind around.
A gold fund that would have a stock like Google and at what else is in there and what's the thinking behind that.
Well minus perpetual portfolios earned its five stars I think because it's a stable -- -- it it's intended to.
Do well in almost any economic environment so yes 3% of the fund's investment -- -- 5% silver -- but we also of a big slug in large cap growth stocks hard -- security Swiss Confederation bonds.
And and other types of stocks that are intend to give an account and all weather approach it's a good way to get started in the market when you really don't know where things are gonna go yet there's apple and there what are some of the other names.
Well what they all -- they have apple Google as you mentioned Microsoft Berkshire Hathaway these are super high quality companies are not gonna go away.
This is a portfolio that it's going to be around for a long long time gold has been around for 6000 years it's never gone worthless like a lot of currencies how -- these other.
And and bill although apple has a lot of currency -- balance sheet and also some great products in a lot of growth in the pipeline.
Tom -- great to have you -- we come back again as we watch this this moon shots.
On the next however gold -- that'll be right here how can -- he's at the Midas portfolio but I mean look you got the name he was able to grab that actual name for his company thank you so much good to see you.
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