“I really did not want the Reddit crowd to get involved in the precious metals like this because I knew there was a risk that it would be short-lived. Silver now [as of Tuesday morning] is down more than it was up yesterday…unfortunately my cynical side is saying Wallstreetbets is a pump-n-dump gig designed to suck in retail money…” – just like in 1999/early 2000.
The precious metals investors do not need a bunch of pump-n-dumpers creating temporary short-squeezes in order to make money in this sector. The precious metals sector is fundamentally extraordinarily undervalued. Silver is probably the cheapest investment asset in the world right now.
Silver Doctors invited me on to its podcast to discuss the attempted short-squeeze in silver and silver stocks and why the precious metals sector is extraordinarily undervalued relative to the money supply and mainstream financial assets:
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Buying physical gold and silver – not GLD or SLV – should be your first priority in seeking shelter from the eventual fate of the dollar. But mining stocks offer the potential wealth enhancement as well “optionality” upside to the prices of gold and silver. If you would like some ideas for investing in mining stocks, take a look at my Mining Stock Journal.