The Goldwatcher: Demystifying Gold Investing - Hardcover

Katz, John; Holmes, Frank

Hardcover

ISBN 10: 0470724269 ISBN 13: 9780470724262

Publisher: Wiley, 2008

Synopsis

Why did the price of gold hit record highs in 2008? Take a look at the headlines - government bailouts of failed banks, mortgage and credit crises, rising inflation, slowing growth and global insecurity. In order to protect themselves from treacherous financial markets and depreciated paper currencies investors worldwide are turning to gold.

Gold has long been used as money and as a store of wealth, but what's the source of its value? Why does that value sometimes rise so high and at other times fall so low? And what do we know about gold's complex and often tumultuous past that may yield clues about how it may behave in the future?

Gold is a side show on a world financial stage dominated by the dollar. The tail can't wag the dog -gold prices are affected by changes in prospects for the dollar and not vice versa. With uncertain outcomes for the American and global economies, gold's stateless money franchise makes this book compelling reading.

"John Katz is a clear eyed independent strategist and analyst with an extraordinary ability to get to grips with subjects ranging from biotechnology via alternative energy to commodities and gold. Uniquely for a commentator on gold he has no dogmas. To assess the risks and rewards that come with owning gold he introduces opinions from an impressive range of commentators, examines different scenarios that may play out on the world economic stage and highlights situations when owning gold makes sense and when it doesn't. To complete the picture Frank Holmes's contribution to The Goldwatcher explains the risks and rewards. The Goldwatcher has been written for 21st century investors. It will be an indispensable resource for responsible people from institutional money managers to private savers - whether the gold price moves up, down, or sideways."
―Patrick H. Spencer, Managing Director, Head of Institutional Sales, Robert W. Baird Limited, London

"Frank Holmes's stellar track record as a resource portfolio manager is a clear reflection of his understanding of the business, the markets and the factors that affect them. His success is as much about unearthing value as it is about creating an investment process that is religiously followed. If you want to succeed in your resource investment,this book is a must. It's all the more enjoyable because the writing style is easy-going,clear and understandable."
―Pierre Lassonde, Former chairman, World Gold Council, and past president, Newmont Mining Corp

This book is also supported by The Goldwatcher blog - http://wwwthegoldwatcher.com, which addresses news and developments affecting gold and the dollar, updates statistical information and links with sources for data and commentary.

About this title

About the Author

John Katz is an analyst, strategist and financial writer based in London. To gain experience and qualifications in the Financial Services Industry he completed the necessary exams to qualify as an approved Securities Dealer and Trader and, while working for a hedge fund in London, was accredited by the United Kingdom Regulatory Authorities. He has contributed articles to the financial press,commentated for business television and is the author of Portfolio 2001 – How to Invest in the World’s Best Companies published by Random House Business Books in 1999.

Frank Holmes is CEO and Chief Investment Officer at U.S. Global Investors,Inc., which manages more than $1 billion in precious metals funds and provides advisory services to international clients.He was Mining Journal’s fund manager of the year in 2006, and is a prominent speaker at investment conferences and a regular commentator on financial broadcast networks. Mr Holmes has more than 30 years’ in the investment field.

Gold has long been used as money and as a store of wealth, but what's the source of its value? Why does that value sometimes rise so high and at other times fall so low? And what do we know about gold's complex and often tumultuous past that may yield clues about how it may behave in the future?

Gold is a side show on a world financial stage dominated by the dollar. The tail can't wag the dog -gold prices are affected by changes in prospects for the dollar and not vice versa. With uncertain outcomes for the American and global economies, gold's stateless money franchise makes this book compelling reading.

"John Katz is a clear eyed independent strategist and analyst with an extraordinary ability to get to grips with subjects ranging from biotechnology via alternative energy to commodities and gold. Uniquely for a commentator on gold he has no dogmas. To assess the risks and rewards that come with owning gold he introduces opinions from an impressive range of commentators, examines different scenarios that may play out on the world economic stage and highlights situations when owning gold makes sense and when it doesn't. To complete the picture Frank Holmes's contribution to The Goldwatcher explains the risks and rewards. The Goldwatcher has been written for 21st century investors. It will be an indispensable resource for responsible people from institutional money managers to private savers - whether the gold price moves up, down, or sideways."
―Patrick H. Spencer, Managing Director, Head of Institutional Sales, Robert W. Baird Limited, London

"Frank Holmes's stellar track record as a resource portfolio manager is a clear reflection of his understanding of the business, the markets and the factors that affect them. His success is as much about unearthing value as it is about creating an investment process that is religiously followed. If you want to succeed in your resource investment,this book is a must. It's all the more enjoyable because the writing style is easy-going,clear and understandable."
―Pierre Lassonde, Former chairman, World Gold Council, and past president, Newmont Mining Corp

This book is also supported by The Goldwatcher blog - http://wwwthegoldwatcher.com, which addresses news and developments affecting gold and the dollar, updates statistical information and links with sources for data and commentary.

From the Inside Flap

In this remarkably clear and accessible book, authors John Katz and Frank Holmes explain everything the independent investor needs to know in order to invest like a professional.

Presented in two parts, Part I demystifies the gold price by tracing its history and placing it in the current context of twenty-first century economic realities, explaining when to buy gold and when gold prices do or don't make sense. As an unbiased independent analyst John Katz is neither a gold bull nor a bear - rather, he offers an insightful analysis of gold's role in an evolving global economy. In doing that, he pulls together and sometimes pulls apart the arguments and assessments of leading commentators from money management, investment banking, academia, and the financial media.

Part II gives the reader a rare glimpse into the intricate workings of a leading gold investor. Frank Holmes is one of the world's most authoritative voices on the yellow metal, and an award winning fund manager. By opening a window into his company, U.S. Global Investors, Holmes provides an insider's vantage point to examine the many opportunities and challenges facing gold investors. Some of the nuggets from Holmes include:

• Here comes China - both as a gold consumer and gold producer
• Watch oil and the dollar to understand gold as an investment
• Bullion as a value investment and gold equities as a growth investment
• Return on capital as the best yardstick to use when measuring a gold-mining stock
• Think of gold as portfolio insurance, not as a way to get rich

Edition details

• Publisher: Wiley
• Publication date: 2008
• Language: English
• ISBN 10: 0470724269
• ISBN 13: 9780470724262
• Binding: Hardcover
• Edition number: 1
• Number of pages: 352